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010   $a9786613820778
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010   $a1451985312
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035   $a(PQKBManifestationID)11519258
035   $a(PQKBTitleCode)TC0000940040
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035   $a(PQKB)10998188
035   $a(OCoLC)694141262
035   $a(MiAaPQ)EBC3014551
035   $a(IMF)WPIEE2006259
035   $a(IMF)WPIEA2006259
035   $aWPIEA2006259
035   $a(EXLCZ)993360000000443116
100   $a20020129d2006      uf         0
101 0 $aeng
135   $aurcnu||||||||
181   $ctxt
182   $cc
183   $acr
200 10$aAllowances for Corporate Equity in Practice /$fAlexander Klemm
205   $a1st ed.
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (35 p.)
225 1 $aIMF Working Papers
300   $a"November 2006."
311 08$a9781451865196 
311 08$a1451865198 
320   $aIncludes bibliographical references.
327   $a""Contents""; ""I. INTRODUCTION""; ""II. ACE TAX SYSTEMS""; ""III. ACE SYSTEMS IN PRACTICE""; ""IV. PREVIOUS ANALYSES OF ACE TAX SYSTEMS""; ""V. THE BRAZILIAN ACE VARIANT""; ""VI. CONCLUSION""; ""Appendix I. Effective Tax Rates""; ""REFERENCES""
330 3 $aThis paper provides an overview of full and partial allowance for corporate equity (ACE) tax systems in practice. In the recent past, ACE systems have been used in Austria, Croatia, and Italy. Brazil still applies a variant of such a system and Belgium introduced one this year. This paper summarizes the empirical literature on past ACE systems, and provides a theoretical and empirical assessment of the Brazilian ACE variant. The main finding is that the Brazilian reform introduced an ACE system for a minority of firms only, with the majority instead having a system of dividend deductibility. Despite the reduction in the tax preference for debt finance, capital structures have not changed much, but dividends have increased. Investment appears to have benefited from the reform, although the extent to which this was due to the new structure rather than the tax cut is unclear.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/259
606   $aCorporations$xFinance
606   $aCorporations$xTaxation
606   $aAllowance for corporate equity$2imf
606   $aBusiness Taxes and Subsidies$2imf
606   $aCorporate & business tax$2imf
606   $aCorporate income tax$2imf
606   $aCorporate Taxation$2imf
606   $aCorporations$2imf
606   $aEffective tax rate$2imf
606   $aFinancial Instruments$2imf
606   $aIncome tax systems$2imf
606   $aIncome tax$2imf
606   $aInstitutional Investors$2imf
606   $aInvestment & securities$2imf
606   $aInvestments: Stocks$2imf
606   $aNon-bank Financial Institutions$2imf
606   $aPension Funds$2imf
606   $aPublic finance & taxation$2imf
606   $aStocks$2imf
606   $aTax administration and procedure$2imf
606   $aTaxation$2imf
606   $aTaxation, Subsidies, and Revenue: General$2imf
607   $aBrazil$2imf
615  0$aCorporations$xFinance.
615  0$aCorporations$xTaxation.
615  7$aAllowance for corporate equity
615  7$aBusiness Taxes and Subsidies
615  7$aCorporate & business tax
615  7$aCorporate income tax
615  7$aCorporate Taxation
615  7$aCorporations
615  7$aEffective tax rate
615  7$aFinancial Instruments
615  7$aIncome tax systems
615  7$aIncome tax
615  7$aInstitutional Investors
615  7$aInvestment & securities
615  7$aInvestments: Stocks
615  7$aNon-bank Financial Institutions
615  7$aPension Funds
615  7$aPublic finance & taxation
615  7$aStocks
615  7$aTax administration and procedure
615  7$aTaxation
615  7$aTaxation, Subsidies, and Revenue: General
700   $aKlemm$b Alexander$01815705
801  0$bDcWaIMF
906   $aBOOK
912   $a9910973346103321
996   $aAllowances for Corporate Equity in Practice$94371222
997   $aUNINA