How do investors value managerial actions designed solely to minimize corporate tax obligations? Using a framework in … which managers' tax sheltering decisions are related to their ability to divert value, this paper predicts that the effect … of tax avoidance on firm value should vary systematically with the strength of firm governance institutions. The …

, standard second-best results in basic settings are unaffected, except those for the optimal income tax. Optimal levels of …

externalities attributable to giving. The fundamental reason is that transfer tax reform can be combined with adjustments to other … aspects of the fiscal system, notably the income tax, so as to keep constant most effects other than externalities. …

literatures, is elaborated and then considered with regard to the problem of transition to a consumption tax. Other transition … issues are distinguished, and specific attention is devoted to rate changes under a consumption tax and whether owners of … preexisting capital are effectively compensated through higher net-of-tax returns due to repeal of the income tax. The analysis is …

on transfers and public goods are each integrated into a common optimal tax framework with the income tax and commodity … taxes at the core. Additional topics addressed include a range of dynamic issues, the unit of taxation, tax administration … and enforcement, and tax equity. …

Ignoring tax avoidance possibilities, a value-added tax and a cash-flow income tax have identical behavioral and … distributional consequences. Yet the available means of tax avoidance under each are very different. Under a VAT, avoidance occurs … through cross-border shopping, whereas under an income tax it occurs through shifting taxable income abroad. Given avoidance …

Using micro-level data, we examine the effects of Russia's 2001 flat rate income tax reform on consumption, income, and … tax evasion. We use the gap between household expenditures and reported earnings as a proxy for tax evasion with data from … find that large and significant changes in tax evasion following the flat tax reform are associated with changes in …

applied welfare economic analysis of optimal excise taxation with tax avoidance. We examine direct measures of consumer excise … tax avoidance in novel individual-level data from the 2003 and 2006 - 2007 Tobacco Use Supplements to the U.S. Current … predictable ways to the economic incentives created by the distance to the border and state tax differentials. To our knowledge …