Tax incentives for foreign direct investment:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
The Hague [u.a.]
Kluwer Law Internat.
2004
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Includes bibliographical references (p. [231]-235) and index |
| Beschreibung: | XVII, 241 S. graph. Darst. |
| ISBN: | 9041122281 |
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| 100 | 1 | |a Easson, Alexander J. |d 1936- |e Verfasser |0 (DE-588)132338491 |4 aut | |
| 245 | 1 | 0 | |a Tax incentives for foreign direct investment |c by Alex Easson |
| 264 | 1 | |a The Hague [u.a.] |b Kluwer Law Internat. |c 2004 | |
| 300 | |a XVII, 241 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 500 | |a Includes bibliographical references (p. [231]-235) and index | ||
| 650 | 7 | |a Buitenlandse investeringen |2 gtt | |
| 650 | 4 | |a Entreprises multinationales - Droit | |
| 650 | 7 | |a Internationaal belastingrecht |2 gtt | |
| 650 | 4 | |a Investissements étrangers - Impôts - Droit | |
| 650 | 4 | |a Multinationales Unternehmen | |
| 650 | 4 | |a Recht | |
| 650 | 4 | |a Steuer | |
| 650 | 4 | |a Investments, Foreign |x Taxation |x Law and legislation | |
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Datensatz im Suchindex
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| adam_text | Preface vii
Chapter 1. Introduction: The Growth of Foreign
Direct Investment and its Determinants 1
A. Scope of the Study 1
1. Fiscal measures 1
2. Incentives 2
3. Foreign direct investment 4
4. General layout 5
B. The Growth of FDI and of the Competition to Attract IT 5
1. The Growth of FDI 5
(a) Developed and developing countries 6
(b) Greenfield investment and cross border M As 7
2. Explaining the growth (and decline) of FDI 8
(a) The decline in 2001 8
(b) Two decades of growth, 1980 2000 9
(i) Globalisation 9
(ii) Home country policies 10
(Hi) Host country policies 10
(iv) MNE strategies 11
3. The competition to attract FDI 12
C. The Perceived Benefits of FDI 12
1. A zero sum game? 12
2. FDI from the perspective of home countries 13
3. FDI from the perspective of host countries 14
(a) Increased capital for investment 14
(b) Increased revenue 15
(c) Increased employment 15
(d) Introduction of new skills and technology 16
(e) Spillover effects 16
4. Perceived benefits for investors 17
(a) Access to markets 18
(b) Access to resources 18
(c) Opportunistic investment 19
i
x Table of Contents
D. Locational Determinants 19
1. Factors affecting the choice of location 19
(a) Market oriented investment 20
(b) Export oriented investment 20
(c) Free trade areas and common markets 20
2. The evidence 21
(a) FD1flows 21
(b) FDI performance 24
(c) Investor surveys 26
3. Some conclusions 27
(a) Positive factors 28
(b) Negative factors 29
(i) Risk factors 29
(ii) Cost factors 31
(Hi) Efficiency factors 32
(iv) Other factors 33
(c) Relative importance of factors 33
Chapter 2. The Taxation of Foreign Direct Investment 35
A. The International Tax System 35
1. Taxes on income and capital 35
2. Taxes on goods and services 36
B. Host Country Taxation 36
1. Residence and source rules 36
(a) Residence 37
(b) Source 38
2. Corporate income tax 38
(a) The CIT System 38
(b) CIT rates 38
(c) Tax base 39
3. Withholding tax 39
4. Personal income taxes, payroll taxes and
social security contributions 40
5. Consumption taxes 41
6. Customs duties and import taxes 41
7. Other taxes 42
8. Anti avoidance legislation 42
(a) Transfer pricing 43
(b) Thin capitalisation 43
(c) Treaty shopping 44
Table of Contents xi
C. Home Country taxation 45
1. Taxation of foreign source Income 45
(a) The territorial principle 45
(b) Business profits 45
(c) Dividends from foreign affiliates 46
(d) Other income 46
(e) Import taxes and duties 46
2. Relief from double taxation 46
(a) Exemption 47
| (b) Foreign tax credit 47
(c) Tax sparing credits 48
3. Anti avoidance rules 48
(a) Transfer pricing 48
(b) Denial of treaty benefits 49
(c) Controlled foreign company legislation 49
I
; D. Third Country Taxation 50
j 1. Reduction of host country taxation 51
j 2. Reduction of home country taxation 51
1 3. Intermediate country taxation 51
E. Taxation as a Determinant of FDI 52
j 1. The Importance of taxation in investment decisions 52
j (a) The decision to invest abroad 52
| (b) Locational decisions 53
? (c) The type of investment 54
(d) The growing importance of taxation 55
2. Which taxes are important? 55
(a) The overall level of taxation 56
(b) The corporate income tax 56
(c) Other taxes 57
(d) Tax administration 59
3. The relevance of home country taxation 60
Chapter 3. Tax Incentives for FDI In Theory 63
A. The Conventional Wisdom 63
B. DlSTORTIONARY EFFECTS 64
1. Distortion of business decisions 64
2. Distortion of competition 65
3. Intended and unintended distortions 65
xii Table of Contents
C. Ineffectiveness of Tax Incentives 66
1. The evidence 66
2. The type of investment 68
(a) Market oriented investment 68
(b) Export oriented investment 68
(c) Centres 69
3. Location within a country or region 70
4. The Increasing generosity of incentives 72
5. Effectiveness of different types of tax incentive 72
D. Inefficiency of Tax Incentives 74
1. Costs 75
(a) Revenue costs 75
(b) Spillover costs 76
2. Benefits 77
(a) Revenue benefits 77
(b) Spillover benefits 77
3. Cost benefit analysis 77
E. Special Incentives or Lower General Tax Rates? 79
Chapter 4. Tax Incentives for FDI In Practice 85
A. The Increasing Use of Incentives 85
B. Recent Trends in Tax Incentives Policies 87
1. Intra country competition 87
(a) Brazil 88
(b) Canada 88
(c) United States 89
2. Intra regional competition 89
(a) The European Union 90
(b) South East Asia 90
(c) Central Europe 93
3. Sectoral competition 95
(a) The automotive industry 96
(b) The hi tech sector 97
(c) Multinational centres 98
4. Negotiated incentive packages 98
C. Where is Incentives Competition Leading 99
1. The winner s curse 102
2. A race to the bottom 103
3. The prisoners dilemma 104
Table of Contents xiii
Chapter 5. Targeting Incentives 105
A. The Purpose of Targeting 105
1. The functions served by targeting 105
(a) Identifying desirable investment 105
(b) Reducing the cost of incentives 106
2. Problems with targeting 107
3. Discretionary or automatic targeting? 107
B. Foreign Investment 108
1. Advantages of restricting incentives to foreign investors 109
2. Disadvantages of restricting incentives to foreign investors 109
3. Round tripping 110
C. New Investors or New Investments? Ill
1. New investors Ill
2. New investments 112
D. Large Investments 113
E. Sectoral Targeting 115
1. Manufacturing 116
2. The hi tech sector 117
3. Pioneer industries 118
4. Centres 121
5. Some other sectors 122
(a) Infrastructure development 122
(b) Tourism 122
(c) Film production 123
F. Locational Incentives 123
G. Performance based Targeting 126
1. Employment creation 126
2. Technology transfer 127
3. Export promotion 128
Chapter 6. Designing Incentives 131
A. Types of Tax Incentive 131
1. Introduction 131
2. Classification of tax incentives 131
xiv Table of Contents
B. CIT Exemptions and Reductions 132
1. Introduction 132
2. The CIT rate 133
(a) Exemption from CIT 133
(b) Reduced CIT rate 133
3. Tax holidays 134
(a) The nature of tax holidays 134
(b) Duration 135
(c) Commencement 137
(d) The relationship to depreciation and loss rules 138
(e) An evaluation of tax holidays 140
4. Investment allowances and credits 142
(a) Investment allowances 143
(i) Eligible investments 143
(ii) Amount of the allowance 143
(Hi) Duration and other restrictions 144
(b) Investment tax credits 144
(c) Tax holidays contrasted with investment allowances
and credits 144
5. Reinvestment allowances 146
6. Accelerated depreciation 147
7. Enhanced deductions 148
C. Withholding Tax Relief 149
D. Personal Income Tax and Social Security Contributions 150
1. Employment creation 150
2. Expatriates 151
E. Sales Taxes 152
F. Import Duties 154
1. Capital goods 154
2. Export processing 155
G. Other Taxes 156
H. Matching the Incentive to the Target 157
Chapter 7. Administrative Considerations 159
A. Administrative Aspects of Incentives Design 159
B. Determination of Eligibility 159
1. Who grants incentives? 159
Table of Contents xv
(a) Policy formulation 160
(b) Incentives legislation 160
(c) Eligibility determination in individual cases 161
2. Automatic or discretionary entitlement? 162
3. Advance rulings 165
C. Monitoring Compliance 165
1. Initial compliance with qualifying conditions 165
fa) Certification 166
(b) Verification 166
(c) Valuation 166
2. Monitoring ongoing compliance 166
3. Self monitoring provisions 167
D. Protecting Against Abuse 167
1. Anticipating abuse 168
(a) Round tripping 168
(b) Fly by night operations 168
(c) New firms for old 169
(d) Sale of assets in respect of which incentives
have been granted 169
(e) Over valuation 170
(f) Transfer pricing 170
(g) Allocation and timing issues 170
2. Countering abuse 171
E. Termination of Tax Privileges 171
1. Expiry 171
2. Non compliance 172
3. Legislative changes 173
Chapter 8. Tax Preferred Investment Zones 175
A. A Taxonomy of Investment Zones 175
B. Duty free Zones 179
1. Free trade zones 179
2. Manufacturing and processing zones 182
(a) Export processing zones 182
(b) Import processing zones 187
C. Tax advantaged Zones 187
D. Parks 193
E. Cross border Zones 193
xvi Table of Contents
F. Special Zones as an Investment Incentive 194
1. Duty free zones 195
2. Tax advantaged zones 197
Chapter 9. Some Basic Issues of Incentives Policy 199
A Constraints on Granting Incentives 199
1. Introduction: internal and external constraints 199
(a) Internal constraints 199
(b) External constraints 199
2. The World Trade Organisation 200
(a) The GATT/WTO rules 200
(b) Restrictions on imports 202
(c) Non discrimination 203
(d) Export subsidies . 204
3. The OECD 207
(a) Measures binding on members 207
(b) Action to combat harmful tax competition 208
4. The European Union 208
(a) The code of conduct 208
(b) The state aid rules 209
(c) Accession of new members 210
(d) Association agreements 211
5. The International Monetary Fund and the World Bank 211
B. Avoiding a Race to the bottom: The Possibility of
International or Intra Regional Cooperation 213
1. International Cooperation 213
(a) The United Nations 213
(b) The WTO 214
(c) The OECD 214
2. Intra regional cooperation 216
(a) The European Union 216
(b) Other regional organisations 217
(c) Agreements among sub national authorities 218
C. Countering Tax Competition 219
1. Harmful tax competition 220
(a) Tax evasion 221
(b) Tax planning 222
(c) Competition for substantial investment 223
Table of Contents xvii
2. Counter measures 225
(a) Measures to counter tax evasion by the use of tax havens .... 225
(b) Measures to counter tax avoidance by the use of
preferential tax regimes 226
D. Concluding Comments 228
Selected Bibliography 231
Index 237
|
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| id | DE-604.BV020831941 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T20:20:15Z |
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| isbn | 9041122281 |
| language | English |
| lccn | 2004557135 |
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| spelling | Easson, Alexander J. 1936- Verfasser (DE-588)132338491 aut Tax incentives for foreign direct investment by Alex Easson The Hague [u.a.] Kluwer Law Internat. 2004 XVII, 241 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references (p. [231]-235) and index Buitenlandse investeringen gtt Entreprises multinationales - Droit Internationaal belastingrecht gtt Investissements étrangers - Impôts - Droit Multinationales Unternehmen Recht Steuer Investments, Foreign Taxation Law and legislation International business enterprises Taxation Law and legislation Steuervergünstigung (DE-588)4057476-3 gnd rswk-swf Direktinvestition (DE-588)4070496-8 gnd rswk-swf Direktinvestition (DE-588)4070496-8 s Steuervergünstigung (DE-588)4057476-3 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=013837133&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Easson, Alexander J. 1936- Tax incentives for foreign direct investment Buitenlandse investeringen gtt Entreprises multinationales - Droit Internationaal belastingrecht gtt Investissements étrangers - Impôts - Droit Multinationales Unternehmen Recht Steuer Investments, Foreign Taxation Law and legislation International business enterprises Taxation Law and legislation Steuervergünstigung (DE-588)4057476-3 gnd Direktinvestition (DE-588)4070496-8 gnd |
| subject_GND | (DE-588)4057476-3 (DE-588)4070496-8 |
| title | Tax incentives for foreign direct investment |
| title_auth | Tax incentives for foreign direct investment |
| title_exact_search | Tax incentives for foreign direct investment |
| title_full | Tax incentives for foreign direct investment by Alex Easson |
| title_fullStr | Tax incentives for foreign direct investment by Alex Easson |
| title_full_unstemmed | Tax incentives for foreign direct investment by Alex Easson |
| title_short | Tax incentives for foreign direct investment |
| title_sort | tax incentives for foreign direct investment |
| topic | Buitenlandse investeringen gtt Entreprises multinationales - Droit Internationaal belastingrecht gtt Investissements étrangers - Impôts - Droit Multinationales Unternehmen Recht Steuer Investments, Foreign Taxation Law and legislation International business enterprises Taxation Law and legislation Steuervergünstigung (DE-588)4057476-3 gnd Direktinvestition (DE-588)4070496-8 gnd |
| topic_facet | Buitenlandse investeringen Entreprises multinationales - Droit Internationaal belastingrecht Investissements étrangers - Impôts - Droit Multinationales Unternehmen Recht Steuer Investments, Foreign Taxation Law and legislation International business enterprises Taxation Law and legislation Steuervergünstigung Direktinvestition |
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