In this paper, the economic impact of the 2006–2008 personal income tax (PIT) reform in Lithuania is analyzed applying model-based simulations. We find that the undertaken PIT reform is unsustainable as it leads to permanent government budget deficits and ever increasing public debt. This...

During the transformation process, the reform of public finances (in particular the tax system) is crucial for Georgia. There are a lot of proposals and suggestions in the financial literature concerning the introduction of tax systems in transition countries. Individual taxes or the entire tax...

The merits of capital levies depend on the likelihood of repetition, the extent of anticipation, and its effects on distribution. The relevance of these features, which in varying degrees is underdeveloped or underappreciated in pertinent literatures, is elaborated and then considered with...

This study examines the determinants of CEO compensation using data from a nationally representative sample of privately held U.S. corporations. We find that: (i) the pay-size elasticity is much larger for privately held firms than for the publicly traded firms on which previous research has...

Italy has recently approved a law (n. 42/2009) implying a strong federal reform of the State. The law regulates the allocation of fiscal power to regions and municipalities and introduces the criteria of standard expenditure and standard cost which should be adopted in the allocation of the...

This book presents a thorough analysis of international experience that offers insights into budgetary tax expenditures, their evaluation and the use of information for fiscal policy purposes. The author analyzes Russian practice in vested tax benefits and exempts, carries out their quantitative...

The paper discusses general approaches to taxation of companies’ income, explains the role of some tax laws provisions, that seem problematic, and their relationship with the general concept of income taxation. Analysis of those provisions and review of international experience provided an...

I argue that, on theoretical grounds, the discretionary component of taxation should be allowed to have different effects than the automatic response of tax revenues to macroeconomic variables. Based on a novel dataset, I show two results. First, responses to a tax shock that allow for a...

l presente trabajo estudia los efectos de la reforma del IRPF en las instituciones de previsión social en la empresa, nalizando hasta qué punto el sistema fiscal discrimina entre ellas, y cómo han variado la carga/incentivos fiscales e cada una. Las figuras analizadas son los planes de...

The paper estimates the impact that the differences of taxation in the Spanish Personal Income Tax (IRPF) and Corporate Income Tax (IS) cause in the division of the economic activity between corporate and noncorporate firms. The exercise is based on the approach proposed by Mackie-Mason and...