Keen, Michael; King, John - In: Fiscal Studies 23 (2002) 3, pp. 401-418
This paper discusses the experience of Croatia in applying, from 1994 to the beginning of 2001, a profit tax that was charged only on equity income in excess of an imputed normal return — and was thus, in essence, an ‘Allowance for Corporate Equity’ (ACE) scheme of the kind advocated by...
