Using a narrative account of quarterly discretionary changes in tax liabilities from 1974Q4 to 2018Q2 in a VAR setting, we study whether legislative tax changes affect the trade balance in the United States, Germany, and the United Kingdom. As legislative tax changes we consider (i) all changes,...

We study state-dependent effects of narratively identified tax shocks in Germany and the UK over the period 1974Q1-2018Q4 using local projections. In addition, we distinguish between aggregated and disaggregated tax types (direct and indirect taxes) as well as look for possible asymmetries...

I study the spill-over effects of legislated discretionary tax changes in the United States, Germany, and the United Kingdom to 11 Eurozone countries for the period 1980Q1-2018Q4 employing Local Projections (Jordà, 2005). In general, I find spillovers from US tax legislation to have the...

We study the announcement effect of legislated tax changes on GDP in the US, Germany, and the UK. Using, as the shock of interest, narratively identified information (Romer & Romer, 2009) about future tax changes at the quarter of their introduction to the legislative body, we analyse the...

On 14 September 2006, the European Court of Justice (ECJ) gave its decision in Case C-386/04: Centro di Musicologia Walter Stauffer versus Finanzamt München für Körperschaften. This decision will have an important impact on the way European governments deal with charities in other EU member...

This paper considers three questions: (1) the relative burden of wealth transfer taxes on heirs versus donors in a partial equilibrium context, (2) the distributional effects of the estate tax if its burdens are assigned to heirs, and (3) whether the incidence of a wealth transfer tax...

This is the last in a series of four articles, in which the authors compare specific aspects of the real estate investment trust (REIT) regimes in the United States, the United Kingdom and Germany. Previous articles dealt separately with the REIT regimes in each of these countries. The United...

Trusts fit uneasily into any tax system. The beneficiary should be taxed on any trust income received; yet the trustee also receives income that is amenable to taxation. It would not be fair for the income to be taxed to both the beneficiary and the trustee, yet neither should the trustee escape...

Missing Trader Intra-Community (MTIC) fraud and its offspring carousel fraud and contra trading fraud are siphoning huge amounts of VAT revenue from the UK Treasury. This fraud is not a function of the goods involved. It is a function of the market-place. Recently another type of market-place...

Enjoyment of tax treaty incentives such as reduced withholding tax rates or tax exemption is dependant upon fulfilment of conditions such as residence and beneficial ownership which have been in existence for over 4 decades. As much as both conditions are determined in accordance with the...