Nicht zuletzt die in der betriebswirtschaftlichen Theorie hinlänglich bekannte Bedeutungsteuerlicher Implikationen von Leasing-1 und Kaufverträgen hat maßgeblich zur Verbreitungdes Leasings in der Praxis beigetragen2. Ein Großteil der Leasingverträge wird dabei überLeasinggesellschaften...

The discussion about income versus consumption as the ideal tax base looks backon a long history. In recent years, the debate about income versus consumption as the bettertax base reemerged in the United States (2002) and in Germany (2006). In view of the longhistory of the debate, it is...

Tax legislation, fiscal authorities, and tax courts create tax uncertainty by frequent tax reforms and various different interpretations of the tax law. Moreover, investors generate model-specific tax uncertainty by using simplified models that anticipate the actual tax base incorrectly. I...

Traditional models of capital budgeting including taxes are based on deterministic tax rates and tax bases. In reality, however, there are multiple sources of tax uncertainty. Tax reforms induce frequent changes in both tax rates and tax bases, making future taxation of investments a stochastic...