Progressive Taxation of Extractive Resources as Second Best Optimal Policy is popular PDF and ePub book, written by Jean-François Wen in 2018-06-13, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Progressive Taxation of Extractive Resources as Second Best Optimal Policy can be Read Online from any device for your convenience.
Progressive Taxation of Extractive Resources as Second Best Optimal Policy Book PDF Summary
The paper provides a critical review of the literature on the concept of progressivity in the taxation of petroleum and mineral resources and offers a fresh perspective on its purpose and measurement. Regressive taxes, such as royalties, exist to satisfy policy objectives other than revenue maximization, such as achieving early revenues, while rent-based or profit-sensitive fiscal instruments must be designed with progressive marginal rates to maximize government revenues. Hence, the emphasis should be placed on tax rate progression of the direct taxation of profit or rent, rather than progressivity in the overall government take. However, as regressive taxes, by their very nature, tend to be distortionary, the optimal degree of progression in the rent- or profit-tax rates must take these distortions into account. The central ideas are illustrated with a simple analytical model in which a second-best optimal tax rate schedule on profit is characterized in the presence of the tax distortions caused by the regressive taxes. Some practical implications of the analysis are discussed.
Detail Book of Progressive Taxation of Extractive Resources as Second Best Optimal Policy PDF
- Author : Jean-François Wen
- Release : 13 June 2018
- Publisher : International Monetary Fund
- ISBN : 9781484361627
- Genre : Business & Economics
- Total Page : 32 pages
- Language : English
- PDF File Size : 12,9 Mb
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