LEADER 05841oam 22010814 450 001 9910788342103321 005 20230721045639.0 010 $a1-4623-2350-2 010 $a1-4527-3293-0 010 $a1-4518-7115-5 010 $a9786612842085 010 $a1-282-84208-0 035 $a(CKB)3170000000055153 035 $a(EBL)1608084 035 $a(SSID)ssj0000943284 035 $a(PQKBManifestationID)11484317 035 $a(PQKBTitleCode)TC0000943284 035 $a(PQKBWorkID)10977483 035 $a(PQKB)11225896 035 $a(OCoLC)815738523 035 $a(MiAaPQ)EBC1608084 035 $a(IMF)WPIEE2008257 035 $a(EXLCZ)993170000000055153 100 $a20020129d2008 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aTax Concessions and Foreign Direct Investment in the Eastern Caribbean Currency Union /$fJingqing Chai, Rishi Goyal 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2008. 215 $a1 online resource (35 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/257 300 $aDescription based upon print version of record. 311 $a1-4519-1568-3 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. Tax Concessions in the ECCU; A. Firm-Level Analysis; Figures; 1. Regional Comparisons: GDP Growth and Tourism Receipts; Tables; 1. Firm Size and Concessions: A Rank Correlation Analysis; B. Purposes of Concessions; III. Revenue Costs of Concessions; 2. Concessions by Purpose; A. Exemptions from Import Duties and Taxes; 3. ECCU: Customs Revenue Losses from Concessions; 2. ECCU: Import-Related Taxes and Revenue Forgone from Concessions; B. Corporate Income Tax Holidays; 3. ECCU: Corporate Income Taxes and Revenue Forgone from Concessions 327 $a4. ECCU: Corporate Income Tax CollectionsC. Revenue Collection from Removing Concessions: An Elasticies Approach; IV. Benefits of Incentives: FDI Performance in the ECCU; 5. Revenue Gains from the Removal of Concessions: An Elasticities Approach; 6. FDI Performance Index; 4. FDI/GDP and Tax Concessions; 7. Data for Cross-Country Regression Analysis: Summary Statistics; 5. FDI/GDP and FDI Restrictions Index; 6. FDI/GDP and FDI Incentives Index; 7. FDI/GDP and Statutory Corporate Income Tax Rate; 8. FDI/GDP and Statutory Import-Related Tax Rate 327 $a8. Cross-Country Ordinary Least Square Regressions: Dependent Variable Ln (FDI/GDP)V. Policy Alternatives; 9. Cross-Country Ordinary Least Square Regressions: Dependent Variable Ln (FDI per capita); 10. Tax Holidays: An Illustrative Example; 11. Accelerated Depreciation and Loss Carry Forward: An Illustrative Example; VI. Conclusions; Appendices; I. Calculating the Change in Revenue from Removing Import-Related Tax Concessions; II. Constructing Foreign Direct Investment Regime Indices; Appendix Tables; II.1. Government Policies Toward Foreign Direct Investment; References 330 3 $aTax concessions have been employed as a central component of the development strategy in the small island states comprising the Eastern Caribbean Currency Union. This paper compares the costs of concessions in terms of revenues forgone with the benefits in terms of increased foreign direct investment. The costs are very large, while the benefits appear to be marginal at best. Forgone tax revenues range between 9½ and 16 percent of GDP per year, whereas total foreign direct investment does not appear to depend on concessions. A rethinking of the use of concessions in the region is needed urgently. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2008/257 606 $aTax credits$zCaribbean Area$xEconometric models 606 $aInvestments, Foreign$zCaribbean Area$xEconometric models 606 $aMonetary unions$zCaribbean Area$xEconometric models 606 $aExports and Imports$2imf 606 $aTaxation$2imf 606 $aCorporate Taxation$2imf 606 $aTaxation, Subsidies, and Revenue: General$2imf 606 $aBusiness Taxes and Subsidies$2imf 606 $aInternational Investment$2imf 606 $aLong-term Capital Movements$2imf 606 $aPublic finance & taxation$2imf 606 $aCorporate & business tax$2imf 606 $aFinance$2imf 606 $aTax incentives$2imf 606 $aCorporate income tax$2imf 606 $aForeign direct investment$2imf 606 $aTax holidays$2imf 606 $aConsumption taxes$2imf 606 $aCorporations$2imf 606 $aInvestments, Foreign$2imf 606 $aSpendings tax$2imf 607 $aAntigua and Barbuda$2imf 615 0$aTax credits$xEconometric models. 615 0$aInvestments, Foreign$xEconometric models. 615 0$aMonetary unions$xEconometric models. 615 7$aExports and Imports 615 7$aTaxation 615 7$aCorporate Taxation 615 7$aTaxation, Subsidies, and Revenue: General 615 7$aBusiness Taxes and Subsidies 615 7$aInternational Investment 615 7$aLong-term Capital Movements 615 7$aPublic finance & taxation 615 7$aCorporate & business tax 615 7$aFinance 615 7$aTax incentives 615 7$aCorporate income tax 615 7$aForeign direct investment 615 7$aTax holidays 615 7$aConsumption taxes 615 7$aCorporations 615 7$aInvestments, Foreign 615 7$aSpendings tax 676 $a332.673 700 $aChai$b Jingqing$01493470 701 $aGoyal$b Rishi$01493471 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788342103321 996 $aTax Concessions and Foreign Direct Investment in the Eastern Caribbean Currency Union$93716472 997 $aUNINA