Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/226236
Authors: 
Dharmapala, Dhammika
Year of Publication: 
2020
Series/Report no.: 
CESifo Working Paper No. 8534
Abstract: 
Current reform proposals in international and corporate tax (most notably the OECD's GloBE proposal) envisage taxing financial statement income. This paper develops a conceptual framework – based on the literature on the elasticity of taxable income – for the welfare analysis of such proposals, and discusses the available evidence on the tax elasticity of financial statement income. The central conclusion is that the most relevant evidence suggests a large responsiveness of financial statement income to taxes (and hence, albeit with significant limitations and caveats, arguably a large deadweight loss). The paper also highlights the need for more evidence on this question.
Subjects: 
international taxation
multinational firms
financial statement income
book-tax conformity
JEL: 
H25
M41
Document Type: 
Working Paper

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