Thesis (Ph. D.)--Ohio State University, 1973. / Includes bibliographical references (leaves 146-150). Available online via OhioLINK's ETD Center.

The first chapter of this dissertation uses a three-sector intertemporal general equilibrium model to examine the effects of various taxes and favorable depreciation rules on capital accumulation and the depletion of natural resources. We find that in a world of infinitely lived firms and households, under certain conditions, taxation causes the steady-state level of capital to be lower than the no-tax level. This divergence, however is reduced by lower capital gains tax rates and favorable depreciation rules. We also find that taxation causes the extraction rate of natural resources to be faster than the social optimum. Although this difference is lessened by lower capital gains tax rates, it is exacerbated by a generous depreciation system. These results challenge the "conventional wisdom" that depreciation rules should be the same for all sectors. / Although the first chapter highlights the importance of a general equilibrium analysis of a multi-sector economy with intertemporally optimizing firms and consumers, there are a number of issues that it neglects. Among these are the adjustment costs associated with investments, and the fact that consumers might plan only for a finite horizon. The second and third chapters of this dissertation take up these issues. / The second chapter, which also uses an intertemporal model, determines theoretically how various taxes and adjustment costs affect the growth paths of domestic corporations and foreign subsidiaries of American multinationals. We find that the effects of capital gains taxation and adjustment costs on the growth paths of domestic corporations and foreign subsidiaries of American multinationals are likely to be unfavorable. / Finally, the third chapter uses a three period overlapping generations model to examine the effects of the capital income tax, the labour income tax, and favorable depreciation rules on human and physical capital accumulation. We find that, under certain conditions, the capital income tax has a negative impact on steady-state levels of physical and human capital, and the steady-state physical capital to human capital ratio. Moreover favorable depreciation rules are shown to reduce the impact of the capital income tax.

No description available.

M.Com. (Economics) / The purpose of this study was to analyze the nature and extent of capital taxes as a component of the total tax structure and to investigate the applicability and effectiveness of this kind of tax in South Africa. The different capital taxes were discussed individually. Standard norms and criteria used to evaluate taxes have been identified. These criteria were applied in an analysis of the different capital taxes. Tables, figures and international comparisons were also employed. The definition of capital is problematic. Historically capital has been compared with a tree while income has been likened with the fruit of the tree. For purposes of this study capital is defined, for an individual, as the current value of the individual's expected future income. Capital as an asset is defined as all assets that are not intended for immediate use. Arguments in favour of capital tax centre around moral issues like equality. It may be argued in favour of capital tax that the implicit income of capital should be taxed in order to maintain economic neutrality of the tax system. Arguments against capital tax concentrate on the negative implications thereof on certain economic entities. Certain practical considerations are highlighted. It may be argued that capital tax is immoral since the abstention of consumption (saving) is taxed...

Lee Wai-yee. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2004. / Includes bibliographical references (leaves 93-103). / Abstracts in English and Chinese. / Chapter Chapter 1 --- Introduction --- p.1 / Chapter Chapter 2 --- Literature Review --- p.4 / Chapter 2.1 --- Trade Models --- p.4 / Chapter a. --- Ricardian model --- p.4 / Chapter b. --- Heckscher-Ohlin model --- p.4 / Chapter c. --- Specific Factor model --- p.5 / Chapter 2.2 --- Policy Implications --- p.5 / Chapter 2.3 --- Factor Mobility --- p.5 / Chapter 2.4 --- Imperfect Competition and Trade Policy --- p.6 / Chapter 2.5 --- Capital Taxation --- p.7 / Chapter 2.6 --- Unemployment --- p.9 / Chapter 2.7 --- Concluding Remarks --- p.13 / Chapter Chapter 3 --- Capital Taxation under Perfect Competition --- p.13 / Chapter 3.1 --- Introduction --- p.13 / Chapter 3.2 --- The Model --- p.16 / Chapter 3.3 --- Comparative Static Analysis --- p.20 / Chapter 3.4 --- Welfare Analysis --- p.23 / Chapter 3.5 --- Conclusions --- p.26 / Chapter Chapter 4 --- Capital Taxation under Imperfect Competition --- p.27 / Chapter 4.1 --- Introduction --- p.27 / Chapter 4.2 --- The Model --- p.28 / Chapter 4.3 --- Comparative Static Analysis --- p.36 / Chapter 4.4 --- Welfare Analysis --- p.40 / Chapter 4.5 --- Conclusions --- p.44 / Chapter Chapter 5 --- Capital Taxation and Unemployment under Perfect Competition --- p.47 / Chapter 5.1 --- Introduction --- p.47 / Chapter 5.2 --- The Model --- p.48 / Chapter 5.3 --- Comparative Static Analysis --- p.53 / Chapter 5.4 --- Welfare Analysis --- p.57 / Chapter 5.5 --- Conclusions --- p.59 / Chapter Chapter 6 --- Capital Taxation and Unemployment under Imperfect Competition --- p.61 / Chapter 6.1 --- Introduction --- p.61 / Chapter 6.2 --- The Model --- p.62 / Chapter 6.3 --- Comparative Static Analysis --- p.68 / Chapter 6.4 --- Welfare Analysis --- p.74 / Chapter 6.5 --- Conclusions --- p.77 / Chapter Chapter 7 --- Conclusions --- p.79 / Appendices --- p.83 / Appendix I --- p.83 / Appendix II --- p.83 / Appendix III --- p.84 / Appendix IV --- p.85 / Appendix V --- p.86 / Appendix VI --- p.87 / Appendix VII --- p.88 / Appendix VIII --- p.88 / Appendix IX --- p.89 / Appendix X --- p.90 / Appendix XI --- p.91 / Appendix XII --- p.92 / Reference --- p.93

No description available.

M. Comm. / The purpose of this study is to determine the desirability of implementing of a system of capital transfer tax in South Africa. The implementation of a capital transfer tax system in South Africa should generate additional income without placing a further administrative or financial burden on the South African Revenue Services. A system of capital transfer tax will replace the current system of donation tax and estate duty in South Africa. Any new system will be based on the principles established by these two forms of taxation, but should simultaneously address many of the loopholes in these two systems. Since the Margo Commission's recommendation in 1986 that South Africa should implement a system of capital transfer tax, much has been written about this form of capital tax but the government has never implemented the recommendations. However, it is certain that a system of capital transfer tax will be implemented in South Africa in the future. The current system of donation tax and estate duty is not effective in levying the taxes and earning the income for the government for which it was originally designed. Over the years numerous ways have been developed to legally avoid these taxes, which is why they are referred to as voluntary taxes (Anon, 1988:17). This dissertation consists of three parts: The first part is a literature study in which capital taxes are discussed. The distinction between income and capital is reviewed. The various forms of capital taxes are identified and the arguments for and against introducing one of them are discussed. This part concludes with arguments for and against a system of capital transfer tax for South Africa. The second part is an analysis of donation tax and estate duty as currently levied in South Africa. The shortcomings of the current legislation are discussed and legal ways to avoid estate duty are identified. The inheritance tax system in the UK and the donation tax and estate duty system in the USA are also briefly discussed. The anti-avoidance measures implemented in these countries are discussed in some detail in view of recommendations to implement similar measures in South Africa. In the third part a capital transfer tax system for South Africa is proposed. Precautions to minimise the avoidance of these taxes through interest-free loans and generation-skipping devises are discussed. Finally a conclusion is reached regarding the matters analysed in this dissertation.

Corporate finance researchers have long been puzzled by low corporate debt ratios given debt's corporate tax advantage. What makes the capital structure debate especially intriguing is that the different theories represent such different, and in some ways almost diametrically opposed, decision-making processes.

Le droit de propriété est un pilier sur lequel s’appuie le droit fiscal et autour duquel s’articule la fiscalité patrimoniale. Il apparaît que l’optimisation fiscale n’est que l’amélioration des conséquences fiscales d’une opération juridique se fondant sur l’instrumentalisation du droit de propriété. Les techniques juridiques utilisées pour façonner le droit de propriété influent donc sur le traitement fiscal.Cette instrumentalisation du droit de propriété à des fins fiscales répond-elle cependant à une règle générale ? Cette règle générale permet -elle de classer les éléments d’instrumentalisation fiscale du droit de propriété ? Il apparaît que ces éléments ne constituent que des mécanismes juridiques consistant , soit en une déconstruction du droit lui-même ou de sa valeur, soit en une affectation juridique ou spatio-temporelle du droit de propriété. / Legal ownership is one of the main pillars on which tax law is based and around which property taxation revolves. It appears that tax optimisation is merely about improving the tax consequences of a legal operation based on the manipulation of legal ownership. The means used to shape the property rights affect the legal and tax consequences. Is such manipulation of legal ownership for tax purposes subject to a fixed rule? Does this rule allow to draw a categorisation of all instruments used in order to exploit legal ownership for tax purposes? It appears that these instruments are but legal mechanisms. They consist either in a deconstruction of ownership itself or of its value, or in a specific ownership assignment in legal or spatiotemporal terms.