Why Is Corporate Tax Revenue Stable While Tax Rates Fall? Evidence from Firm-Level Data

IF 1.8 3区经济学 Q2 BUSINESS, FINANCE

National Tax Journal Pub Date : 2022-08-01 DOI:10.1086/720704

C. Fuest, F. Hugger, Susanne Wildgruber

引用次数: 4

Abstract

While corporate tax rates in OECD countries declined over the last decades, revenues from corporate taxation relative to gross domestic product (GDP) remained remarkably stable. This paper uses a comprehensive firm-level data set to analyze this rate-revenue puzzle in corporate taxation. Focusing on the period 1995–2016, we show that the reduction in corporate tax rates was counterbalanced by a pronounced increase in corporate profits. We decompose the rise in profits into changes in earnings before interest and depreciation, depreciation, and financial profits. On average, these factors contributed almost equally to the tax-base expansion, albeit differently across sectors, countries, and firm sizes.

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为什么税率下降时企业税收稳定？来自公司层面数据的证据

虽然经合组织国家的公司税税率在过去几十年里有所下降，但公司税收入相对于国内生产总值(GDP)仍然非常稳定。本文使用全面的企业层面数据集来分析公司税中的税率-收入难题。关注1995年至2016年期间，我们发现企业税率的降低被企业利润的显著增长所抵消。我们把利润的增长分解为息税前利润、折旧前利润和财务利润的变化。平均而言，这些因素对税基扩张的贡献几乎相等，尽管不同行业、国家和公司规模有所不同。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

National Tax Journal Multiple-

CiteScore

3.40

自引率

11.80%

发文量

期刊介绍： The goal of the National Tax Journal (NTJ) is to encourage and disseminate high quality original research on governmental tax and expenditure policies. Articles published in the regular March, June and September issues of the journal, as well as articles accepted for publication in special issues of the journal, are subject to professional peer review and include economic, theoretical, and empirical analyses of tax and expenditure issues with an emphasis on policy implications. The NTJ has been published quarterly since 1948 under the auspices of the National Tax Association (NTA). Most issues include an NTJ Forum, which consists of invited papers by leading scholars that examine in depth a single current tax or expenditure policy issue. The December issue is devoted to publishing papers presented at the NTA’s annual Spring Symposium; the articles in the December issue generally are not subject to peer review.