Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/168312 
Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
arqus Discussion Paper No. 221
Verlag: 
Arbeitskreis Quantitative Steuerlehre (arqus), Berlin
Zusammenfassung: 
We contribute to the empirical literature on the debt bias of corporate income taxation through a firm-level evaluation of the European Commission's recent proposal of an Allowance for Growth and Investment (AGI). We use the introduction, the application and the repeal of a similar allowance in Austria during the early 2000s to evaluate the effects of the AGI on corporate equity and profit distribution. Our analysis provides evidence that such an allowance could increase corporate equity ratios by 5.5 percentage points and reduce profit distributions by 7.6 percentage points. These effects are stronger than those the previous literature for traditional Allowance for Corporate Equity (ACE) tax systems has identified. Additionally, we contribute to the recently expanding literature on the influence of ownership on tax planning as we find significant differences in the utilization of the AGI depending on individual specifics of the majority shareholder as well as depending on the number of shareholders of the respective firms
Schlagwörter: 
taxes
retained earnings
tax allowance
notional interest deduction
AGI
ACE
JEL: 
G32
H24
H25
K34
Dokumentart: 
Working Paper

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