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Erscheinungsjahr: 
2005
Schriftenreihe/Nr.: 
CESifo Working Paper No. 1478
Verlag: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Zusammenfassung: 
Corporate tax reforms carried out in EU countries since 1980 entail lower statutory tax rates and reductions in generous tax depreciation provisions. Several countries including the UK have reduced tax rates for SMEs. This study compares incentive effects of such reforms on the SMEs? investment decisions adopting simple present value model. Ceteris paribus tax rate and depreciation rule vary in the model simulation, while the application of historical cost accounting method in inflationary phases leads to fictitious increases in nominal net present value. Apart from the construction of international ranking, country- specific patterns of reform effects are also illustrated.
Schlagwörter: 
SMEs
corporate tax reform
investment decision
inflation
EU countries
JEL: 
H25
H32
Dokumentart: 
Working Paper
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