05935oam 22012014 450 991081213310332120240402050555.01-4623-4973-01-4527-8943-697866128415451-4518-7061-21-282-84154-8(CKB)3170000000055099(EBL)1608004(SSID)ssj0001489093(PQKBManifestationID)11897937(PQKBTitleCode)TC0001489093(PQKBWorkID)11445767(PQKB)11453861(OCoLC)466407186(IMF)WPIEE2008203(MiAaPQ)EBC1608004(EXLCZ)99317000000005509920020129d2008 uf 0engur|n|---|||||txtccrZero Corporate Income Tax in Moldova : Tax Competition and Its Implications for Eastern Europe /Marcin Piatkowski, Mariusz Jarmuzek1st ed.Washington, D.C. :International Monetary Fund,2008.1 online resource (33 p.)IMF Working PapersIMF working paper ;WP/08/203Description based upon print version of record.1-4519-1514-4 Includes bibliographical references.Contents; I. Introduction; II. Do Countries Compete Over Corporate Taxes?; Figures; 1. CIT Rate in the EU-15 and Eastern Europe; III. What Drives Tax Competition?; 2. GDP and CIT Rates in Europe, 2007; IV. Will the Moldovan Zero CIT Intensify Tax Competition in the Region?; Table; 1. Strategic Interaction in CIT Setting in Eastern Europe, 1995-2006; V. Implications for FDI, Economic Efficiency, Equity, and Welfare; 3. Ratio of US FDI to GDP for Four Groups of Countries; 4. World Bank Doing Business, 2008; 5. Eastern Europe: CIT Rate and Revenue; 6. Statutory and Effective CIT Rates in NMS-87. NMS-10: Gross Operating Surplus and Mixed Income8. CIT Revenue Maximizing Rate; 9. Eastern Europe: Average CIT and PIT; 10. Tax Revenue by Source in NMS-10 and CIS; VI. Conclusions; References; Appendix IGlobal economic integration intensified tax competition and raised concerns about the resulting "race to the bottom", which could undermine public investment and social spending. The aim of this paper is to test predictions that (i) there is interdependence in CIT rate setting in Eastern Europe and that (ii) the recent CIT cut in Moldova may intensify tax competition in the region. It finds that there is indeed evidence that during 1995-2006 countries in Eastern Europe strategically responded to changes in CIT rates in the region and that Moldovan zero CIT is likely to encourage further cuts in CIT. The paper also discusses implications of tax competition for Eastern Europe and finds that FDI flows will not be much affected, tax revenues are likely to decline, the shift in the composition in tax revenue may increase economic efficiency, but decrease equity. Tax coordination, while difficult politically, could help stem further decline in corporate taxation, but any gains might be modest and not certain to exceed the costs of tax coordination. Without tax coordination, however, it is unclear what exactly could stop corporate taxes from falling further.IMF Working Papers; Working Paper ;No. 2008/203CorporationsTaxationMoldovaCorporationsTaxationEurope, EasternTaxationMoldovaTaxationEurope, EasternFinance: GeneralimfPersonal Finance -TaxationimfPublic FinanceimfCorporate TaxationimfBusiness Taxes and SubsidiesimfTaxation, Subsidies, and Revenue: GeneralimfNational Government Expenditures and Related Policies: GeneralimfGeneral Financial Markets: General (includes Measurement and Data)imfPersonal Income and Other Nonbusiness Taxes and SubsidiesimfCorporate & business taximfPublic finance & taxationimfFinanceimfCorporate income taximfRevenue administrationimfExpenditureimfCompetitionimfPersonal income taximfCorporationsimfTaxationimfRevenueimfExpenditures, PublicimfIncome taximfMoldova, Republic ofimfCorporationsTaxationCorporationsTaxationTaxationTaxationFinance: GeneralPersonal Finance -TaxationPublic FinanceCorporate TaxationBusiness Taxes and SubsidiesTaxation, Subsidies, and Revenue: GeneralNational Government Expenditures and Related Policies: GeneralGeneral Financial Markets: General (includes Measurement and Data)Personal Income and Other Nonbusiness Taxes and SubsidiesCorporate & business taxPublic finance & taxationFinanceCorporate income taxRevenue administrationExpenditureCompetitionPersonal income taxCorporationsTaxationRevenueExpenditures, PublicIncome tax336.243Piatkowski Marcin1621236Jarmuzek Mariusz1599370DcWaIMFBOOK9910812133103321Zero Corporate Income Tax in Moldova3954416UNINA