06134oam 22012854 450 991096191680332120250426110700.0978661284154597814623497391462349730978145278943914527894369781451870619145187061297812828415431282841548(CKB)3170000000055099(EBL)1608004(SSID)ssj0001489093(PQKBManifestationID)11897937(PQKBTitleCode)TC0001489093(PQKBWorkID)11445767(PQKB)11453861(OCoLC)466407186(IMF)WPIEE2008203(MiAaPQ)EBC1608004(IMF)WPIEA2008203WPIEA2008203(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.9781451915143 1451915144 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, EasternBusiness Taxes and SubsidiesimfCompetitionimfCorporate & business taximfCorporate income taximfCorporate TaxationimfCorporationsimfExpenditureimfExpenditures, PublicimfFinanceimfFinance: GeneralimfGeneral Financial Markets: General (includes Measurement and Data)imfIncome taximfNational Government Expenditures and Related Policies: GeneralimfPersonal Finance -TaxationimfPersonal Income and Other Nonbusiness Taxes and SubsidiesimfPersonal income taximfPublic finance & taxationimfPublic FinanceimfRevenue administrationimfRevenueimfTaxationimfTaxation, Subsidies, and Revenue: GeneralimfMoldova, Republic ofimfCorporationsTaxationCorporationsTaxationTaxationTaxationBusiness Taxes and SubsidiesCompetitionCorporate & business taxCorporate income taxCorporate TaxationCorporationsExpenditureExpenditures, PublicFinanceFinance: GeneralGeneral Financial Markets: General (includes Measurement and Data)Income taxNational Government Expenditures and Related Policies: GeneralPersonal Finance -TaxationPersonal Income and Other Nonbusiness Taxes and SubsidiesPersonal income taxPublic finance & taxationPublic FinanceRevenue administrationRevenueTaxationTaxation, Subsidies, and Revenue: General336.243Piatkowski Marcin1816615Jarmuzek Mariusz1815601DcWaIMFBOOK9910961916803321Zero Corporate Income Tax in Moldova4372863UNINA