ENGLISH

Empirical Evidence on the Effects of Tax Incentives

By Alexander Klemm; Stefan van Parys

Book information

Publisher
International Monetary Fund
Year
2009
ISBN
9781451917123, 9781451872835
LCC
HJ2330 -- .K54 2009eb
Language
english
Format
EPUB
Filesize
975 kB (998302 bytes)
Series
IMF Working Papers
Edition
1
Pages
27\0
Time added
2023-08-06 04:17:34
Tax incentives. ; Tax credits.

Description

This paper considers two empirical questions about tax incentives: (1) are incentives used as tools of tax competition and (2) how effective are incentives in attracting investment? To answer these, we prepared a new dataset of tax incentives in over 40 Latin American, Caribbean and African countries for the period 1985–2004. Using spatial econometrics techniques for panel data to answer the first question, we find evidence for strategic interaction in tax holidays, in addition to the well-known competition over the corporate income tax rate. We find no evidence, however, for competition over investment allowances and tax credits. Using dynamic panel data econometrics to answer the second question, we find evidence that lower corporate income tax rates and longer tax holidays are effective in attracting FDI, but not in boosting gross private fixed capital formation or growth.

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