Diese Studie verknupft die Kapitalanlageentscheidungen privater Haushalte im internationalen Rahmen mit der Konvergenz von Rechnungslegungssystemen. Hierzu betrachtet der Autor zunachst die Investitionsentscheidungen privater Investoren aus einer mikrooekonomischen Perspektive, um darauf aufbauend die Rechnungslegungskonvergenz und ihre positiven Effekte auf internationale Investitionen oekonometrisch mittels des Gravitationsmodells zu untersuchen. Hierbei senken sowohl eine Konvergenz im Bereich des Disclosures als auch des Enforcements die landerubergreifenden Informationskosten und foerdern so internationale Investitionen. Die Untersuchung macht deutlich, dass Disclosure und Enforcement in einer interdependenten Beziehung stehen: So ist die Wirkung der Disclosure-Konvergenz umso starker, je mehr das Enforcement konvergiert.

Charles Konigsberg has done a great service for American taxpayers-- giving all of us a clear, direct and meaningful guide to the $3 trillion of our money that goes to the government to fund programs that shape our daily lives (for better or worse.) For one used to wading through gobbledygook or impenetrable jargon, the plainspoken, straightforward actual English in this book is especially refreshing. Every American concerned about federal taxing and spending--Democrat, Republican or other, budget analyst or average citizen--should have this book. Norman Ornstein, Resident Scholar, American Enterprise Institute This is an extremely useful book--both for those seeking a comprehensible introduction to the complexities of the federal budget and to practitioners needing a quick refresher course. Alice M. Rivlin, former Director, Office of Management and Budget, and Congressional Budget Office Charles Konigsberg, who advised my good friend Pat Moynihan on fiscal policy, explains in clear and concise language why the United States is on a dangerous fiscal path, with entitlement programs, particularly the health care entitlements, growing at an unsustainable rate due to rapidly rising health care costs. Bob Kerrey, former Senator from Nebraska and current President of the New School ____________________________________________________________ America's Priorities explains in clear, concise, nonpartisan language how the U.S. government raises and spends $3 trillion per year. The book provides plain English explanations of the budget process, major Federal spending programs, Federal taxes, and the reasons for the major swing from deficits in the 1980s to surpluses in the late 1990s andback to rapidly increasing debt in the current decade. A broad spectrum of readers will find the book useful: journalists, political and financial commentators, the government and financial sectors, the academic community, and voters looking for a nonpartisan explanation of how our elected officials are prioritizing public resources. Charles S. Konigsberg has over two decades of bipartisan experience in the White House and U.S. Senate, having served as General Counsel at the Senate Finance Committee, Minority Chief Counsel at the Senate Rules Committee, Staff Attorney at the Senate Budget Committee, and 4 years as an Assistant Director at the Office of Management and Budget.

The most disturbing aspects of the growth of underground economies are the interrelated problems of unreported and unrecorded income. A large and growing underground economy can thwart fiscal efforts to establish budget balance and may significantly undermine the veracity of a nation's economic information system. The notion that economic information is itself endogenous raises the possibility that at least part of the economic malaise observed in most Western nations during the past two decades is essentially the result of a statistical illusion. The essays in this 1989 volume examine the problems of defining, measuring and understanding the implications of the underground economies that have emerged in many of the world's developed nations. Empirical chapters examine the conceptual problems of how to measure a phenomenon that attempts to defy detection. Alternative measurement procedures are evaluated. Specific studies are included for the United States, the Netherlands, the United Kingdom, Germany, Sweden, Italy, Norway, Canada, France, the Soviet Union and Hungary.

The international debt crisis that erupted in 1982 threatened the world financial system and turned the 1980s into a lost decade for Latin America. But the crisis jolted governments throughout the region into adopting sweeping economic reforms. By the early 1990s inflation was lower, growth was reviving, the major debtors had reached "Brady Plan" workout agreements reducing bank debt in exchange for collateral, and capital was entering the region in unprecedented magnitudes.This study tries to make sense of this historic financial episode and to derive lessons for future policy. Cline first returns to his 1983 projection models that figured importantly in the debate at that time, and reruns them with the benefit of hindsight to see what went wrong (e.g., capital flight) and what went right (e.g., revival of industrial country growth). He provides a critical survey of the voluminous economics literature that emerged from the debt crisis. The study evaluates performance of the evolving international debt strategy, which eventually succeeded brilliantly in preserving international financial stability and restoring debtor access to credit markets but failed to achieve debtor country growth in the 1980s.The study reviews policy reform and Brady plan results for major Latin American countries; provides new analysis of today's debt problems in Russia and Africa; and analyzes the degree of vulnerability of Latin Americas capital market renaissance to such factors as overvalued exchange rates and a resurgence of US interest rates. It concludes with suggestions for institutional change and policy guidelines to help avoid future crises.

Taxes are a crucial policy issue, especially in developing countries. Just recently, proposals to raise middle-class taxes toppled the Bolivian government, and plans to extend or increase the value-added tax caused political unrest in Ecuador and Mexico. Despite the impact of tax policy on developing countries, a comprehensive study has yet to be written. Treating Argentina, Brazil, India, Kenya, Korea, and Russia as key case studies, this volume outlines the major aspects of current tax codes and explores their economic and political implications.

Examples of both the poorest and wealthiest developing countries, Argentina, Brazil, India, Kenya, Korea, and Russia uniquely demonstrate the diverse fiscal problems of tax reform. Each economy relies heavily on indirect and corporate income taxes, though recently some have reduced their tariff rates and have switched from excise to value-added taxes. There is a large, informal economy in most of these countries, and tax evasion by firms is a significant concern. As a result, tax revenue remains low, even though rates are as high as those in developed economies. Also, unconventional methods to collect revenue have been implemented, including bank debit taxes, state ownership of firms, and implicit taxes on individuals in the informal sector.

Exploring these and other concerns, as well as changes in tax law, administration, and fiscal pressures, this comprehensive anthology clarifies the current landscape of tax administration and the economic future of the world's poorer economies.

Fully updated each year, this resource is an excellent aid to support a first course in UK tax, or as a general introduction to this topic for non-UK based readers. Written in an accessible style with many examples, activities, and questions throughout, this textbook gives the reader a thorough understanding of the UK's taxation principles and current practices.

United States Taxes and Tax Policy supplements and complements the theoretical material on taxes found in public finance texts using a combination of institutional, theoretical and empirical information. By adding flesh to theoretical bones, this textbook provides insight into the behaviour of individuals in both the private and public sectors. Specifically, the economic effects of taxes and tax policy are stressed and, as a result, students will gain an appreciation and understanding of how tax policy actually affects the economy. For example, where many texts typically stop with a rather pristine treatment of the income and substitution effects of a tax, this book goes further by examining econometric studies of the supply of labour, and the relationship of this work to taxes, the Laffer curve, and the role and magnitude of the underground economy. Using this approach, Professor Davies brings life to what can be a dull subject.

An informal discussion for the general reader of the most critical problems of taxation, including an important chapter on the income tax. Originally published in 1948. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

The author is concerned here with the tax treatment of individuals' income from the sole proprietorships and partnerships in manufacturing, finance, trade, agriculture, and professional practice. Attention is paid to the changing relation between the income from sole proprietorship and partnership and the total income of owners. Appendixes contain explanations of figures and concepts. Originally published in 1964. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Most African countries are in dire need of more tax revenue. In 28 out of 45 countries with a value-added tax (VAT), total tax revenue as a percentage of GDP is around 15% or less, falling short of what is necessary to finance basic human and economic development. Far from being revenue-raising instruments, current African VATs are riddled with exemptions, exclusions, and zero rates on domestic goods and services that depress revenue, are highly distortionary, and greatly complicate the administration of VAT. Modernizing VATs in Africa enables policymakers, professionals, and students to analyse African tax systems to ascertain how they can be modernized. It explains the case for VAT base-broadening over rate-increasing, arguing that exemptions and zero rates mainly accrue benefits for higher-income groups. Even more persuasively, it demonstrates that the net result of fiscal systems can be equalizing if the revenue of broad-based VATs is used to finance in-kind transfers, such as healthcare and education. VAT modernization should be used to enable governments to finance development; Modernizing VATs in Africa puts a compelling case forward for how and why this can be achieved.

Should government's power to tax be limited? The events of the late 1970s in the wake of California's Proposition 13 brought this question very sharply into popular focus. Whether the power to tax should be restricted, and if so how, are issues of immediate policy significance. Providing a serious analysis of these issues, the authors of this 1980 book offer an approach to the understanding and evaluation of the fiscal system, one that yields profound implications. The central question becomes: how much 'power to tax' would the citizen voluntarily grant to government as a party to some initial social contract devising a fiscal constitution? Those in office are assumed to exploit the power assigned to them to the maximum possible extent: government is modelled as 'revenue-maximizing Leviathan'. Armed with such a model, the authors proceed to trace out the restrictions on the power to tax that might be expected to emerge from the citizen's constitutional deliberations.

The capture of the French king John II at Poitiers in 1356 marked the end of royal taxation as a temporary, wartime expedient and its beginning as an annual assessment. John Henneman's detailed treatment of war financing in the period immediately preceding, from 1322 to 1356, is the first volume in a proposed study of royal finances in France during the fourteenth century. Mr. Henneman has chosen a chronological approach to his subject in order to show how the evolving theory and practice of taxation were affected by these turbulent years of war and negotiation, political faction and dynastic feuds, social and economic change. Mr. Henneman discusses the king's requirements for money over and above his normal revenues, the methods he used to raise the funds, the responses of his subjects, and the changes these procedures made in the development of French institutions. His study is based largely on unpublished sources, especially the manuscripts found in French provincial archives. As the royal financial records in Paris have been dispersed or destroyed, these manuscripts arc of particular importance. Originally published in 1971. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

The property tax in the United States has never been more important. Despite numerous attempts to limit its use, the property tax remains the most significant source of tax revenue for local governments. This is the "go to" book that draws together important legal cases and related materials on the fundamental legal issues concerning valuation, tax policy, and the property tax. This collection provides an overview of the structure and function of real property taxation in the U.S. It is intended to be useful to lawyers and law students, as well as to policy makers, practitioners, and others with an interest in the property tax. Originally published in 1994, this book has been updated and reissued.

The twin benefits of improving environmental quality and reducing tax distortions through the recycling of environmental tax proceeds prove an attractive policy objective. This book analyses the use of the double dividend concepts for evaluating ecological tax reforms. The author aims to analyse unilateral environmental policy measures thoroughly and to assess under which conditions a double dividend can be achieved. The analysis is undertaken in the context of international capital mobility and cross-border externalities. He also includes a discussion of an empirically relevant example for an ecological tax reform scenario in Germany - the DIW proposal. International Environmental Externalities and the Double Dividend will be of great interest to all researchers and those working in NGOs in the areas of environmental economics, ecological tax reform issues as well as trade and the environment.

While this volume presents the important writings of James M. Buchanan on taxation and debt, Geoffrey Brennan makes it clear in the foreword that the thrust of Buchanan's work in this area has been to integrate theories of taxation and debt with public-expenditure theory. Therefore, the editors strongly urge that the present volume on taxation and debt be read in tandem with the subsequent Volume 15, "Externalities and Public Expenditure Theory."
Included in this present volume are thirty-five important writings by Buchanan on taxation and debt. These are grouped into the following major subject categories:
1.Taxation, Politics, and Public Choice
2.Earmarking and Incidence in Democratic Process
3.Analytical and Ethical Foundations of Tax Limits
4.The Fiscal Constitution
5.Confessions of a Burden Monger
6.Ricardian Equivalence
7.The Constitution of a Debt-Free Polity
As Geoffrey Brennan points out in the foreword to this volume, "Although James Buchanan's interests are wide-ranging, the core of his professional reputation as an economist and the origin of much of his broader thinking lie in public economics--in engagement with the questions of what governments do and how governments should properly finance what they do." This volume together with its partner subsequent volume present clear and accessible insights into the rich economic work for which Buchanan is best known.
James M. Buchanan is an eminent economist who won the Alfred Nobel Memorial Prize in Economic Sciences in 1986 and is considered one of the greatest scholars of liberty in the twentieth century.
The entire series will include:
Volume 1 "The Logical Foundations of Constitutional Liberty"
Volume 2 "Public Principles of Public Debt "
Volume 3 "The Calculus of Consent "
Volume 4 "Public Finance in Democratic Process"
Volume 5 "The Demand and Supply of Public Goods"
Volume 6 "Cost and Choice"
Volume 7 "The Limits of Liberty"
Volume 8 "Democracy in Deficit"
Volume 9 "The Power to Tax"
Volume 10 "The Reason of Rules"
Volume 11 "Politics by Principle, Not Interest"
Volume 12 "Economic Inquiry and Its Logic"
Volume 13 "Politics as Public Choice"
Volume 14 "Debt and Taxes"
Volume 15 "Externalities and Public Expenditure Theory"
Volume 16 "Choice, Contract, and Constitutions"
Volume 17 "Moral Science and Moral Order"
Volume 18 "Federalism, Liberty, and the Law"
Volume 19 "Ideas, Persons, and Events"
Volume 20 "Indexes"

Seventy-five percent of Americans claim religious affiliation, which can impact their taxpaying responsibilities. In this illuminating book, Samuel D. Brunson describes the many problems and breakdowns that can occur when tax meets religion in the United States, and shows how the US government has too often responded to these issues in an unprincipled, ad hoc manner. God and the IRS offers a better framework to understand tax and religion. It should be read by scholars of religion and the law, policymakers, and individuals interested in understanding the implications of taxation on their religious practices.

This book is concerned with some of the conceptual and practical problems of measuring the changes in welfare of individuals and the excess burdens arising from taxation. It provides an introductory review of alternative concepts and practical approaches to the measurement of welfare as well as providing a number of practical examples of welfare analyses in a variety of contexts. The excess burden of a tax is a central concept in economics. John Creedy provides an introduction to various concepts of welfare change, paying particular attention to the measurement issues involved. He then applies the methods outlined to the measurement of marginal tax reform and indirect tax reform, with empirical data taken from Australia. He also examines the redistributive effect of price changes in Australia between 1980 and 1995, and the effects of inflation in New Zealand over the period 1993-1995. Finally, he calculates the welfare costs of monopoly and measures the burdens of carbon taxation and welfare. Measuring Welfare Changes and Tax Burdens will be of interest to students and academics working in the areas of public finance and public policy, as well as economists working in government.

Arguments about taxation are among the most heated- no other topic is as influential to the role of government and the distribution of costs and benefits in America. But while understanding of our tax system is of vital importance, the complexity can create confusion. Two of America's leading authorities on taxes, Leonard E. Burman and Joel Slemrod, bring clarity in this concise explanation of how our tax system works, how it affects people and businesses, and how it might be improved. The book explores what makes a tax system fair, simple, and efficient, why our system falls short, and whether the new tax law promises much, if any, improvement. Accessibly written and organized in a clear, question-and-answer format, the book describes the intricacies of the modern tax system in an easy-to-grasp manner. It has been revised and updated to both explain the Tax Cuts and Jobs Act (TCJA) in 2017, the most comprehensive reform of its income tax system since 1986, and to examine its likely effects on individuals, businesses, and society. Among the questions discussed are: How much more tax could the IRS collect with better enforcement? How do tax burdens vary around the world? Why do corporations pay so little tax, even though they earn trillions of dollars every year? What kind of tax system is most conducive to economic growth? And, can taxes be fair?

Der Leitfaden erlautert die strategischen und steuerlichen Grundzuge einer Familienstiftung und zeichnet die einzelnen wirtschaftlichen Schritte bei der Errichtung und der laufenden Tatigkeit einer solchen Stiftung nach. Dabei stehen unter anderem die laufende Besteuerung der Ertrage und Zuwendungen der Familienstiftung, die Besteuerung der Aufloesung von Familienstiftungen sowie die Erbersatzsteuer bei der deutschen Familienstiftung und die steuerliche Behandlung von Immobilien im Mittelpunkt. Demgegenuber werden die Grundsatze einer Familienstiftung im Furstentum Liechtenstein mit Blick auf die Anforderungen des deutschen Aussensteuergesetzes erlautert. Mit Fokus auf die steuerrechtlichen Pflichten werden daruber hinaus geltende Vorschriften fur deutsche Familienstiftungen zu Buchfuhrung, Bilanzierung und steuerrechtliche Gewinnermittlung dargestellt. Das Buch liefert einen umfassenden UEberblick fur Steuerberater, Rechtsanwalte, Vermoegensverwalter, Family Officer, Stifter und Stiftungsvorstande. Weitreichende Informationen uber die komplexen steuerlichen Herausforderungen einer Stiftungserrichtung sowie der laufenden fiskalischen Behandlung einer Familienstiftung koennen diesem Buch entnommen werden.

What began as a relatively localized crisis in Greece in early 2010 soon escalated to envelop Ireland and Portugal. By the second half of 2011, the contagion had spread to the far larger economies of Italy and Spain. In mid-September the Peterson Institute and Bruegel hosted a conference designed to contribute to the formulation of policies that could help resolve the euro area debt crisis. This volume presents the conference papers; several are updated through end-2011. European experts examine the political context in Greece (Loukas Tsoukalis), Ireland (Alan Ahearne), Portugal (Pedro Lourtie), Spain (Guillermo de la Dehesa), Italy (Riccardo Perissich), Germany (Daniela Schwarzer), and France (Zaki Laidi). Lessons from past debt restructurings are then examined by Jeromin Zettelmeyer (economic) and Lee Buchheit (legal). The two editors separately consider the main current policy issues: debt sustainability by country, private sector involvement and contagion, alternative restructuring approaches, how to assemble a large emergency financing capacity, whether the European Central Bank (ECB) should be a lender of last resort, whether joint-liability "eurobonds" would be feasible and desirable, and the implications of a possible break-up of the euro area. The luncheon address by George Soros and a description (by Steven R. Weisman with Silvia B. Merler) of the policy simulation game played on the second day of the conference complete the volume. Involving market participants and experts representing the roles of euro area governments, the ECB, IMF, G-7, and credit rating agencies, the game led to a proposal for leveraging the capacity of the European Financial Stability Facility through arrangements with the ECB.

The European Commission envisages putting forward a proposal for a tax reform that would allow improving the efficiency and simplicity of the corporate income tax systems. This report assesses the impact of a Common Corporate Tax Base (CCTB) on the size of the corporate tax bases of EU companies. The results of the report shall help to evaluate the economic consequences of the introduction of a harmonised set of tax accounting rules. The estimates are based on the European Tax Analyzer with data from the year 2006 and apply options specified by the Commission 's Steering Group.

The Dutch tax system distorts economic decisions, treats equal economic positions unequally for tax purposes, and is extraordinarily complex. Following in the footsteps of the Mirrlees Review, prominent economists from academia and the policy arena, at home and abroad, provide independent, evidence-based analyses of the system's shortcomings, as well as detailed proposals for reform. Tax by Design for the Netherlands spans the whole spectrum of taxes on labor and capital income, profits, consumption, wealth, inheritance, and charges to correct for market and individual failure, including the environment.