Journal articles: 'Income tax deductions – Zimbabwe'

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Cornia, Gary C., R. Bruce Johnson, and Ray D. Nelson. "Personal Income Tax Revenue Growth and Volatility." Public Finance Review 45, no. 4 (September 19, 2016): 458–83. http://dx.doi.org/10.1177/1091142116668255.

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In order to reduce the volatility of the personal income tax in Utah, review and reform efforts recommended a simple flat tax that disallowed all deductions or exemptions. Among the reasons for the recommended flat tax was the argument that it would result in a more stable year-over-year tax revenue stream. This was especially important for education financing. The tax system that was finally adopted retained exemptions and deductions through a tax credit. Using a series of simulations based on twenty-one years of tax returns, we establish that by retaining exemptions and deductions, tax reform efforts failed to appreciably reduce the volatility of personal income tax revenues. These simulations also show that the initially proposed flat income tax with no exemptions or deductions would have decreased volatility at the cost of reducing the growth rate. This study contributes insights, caveats, methodology, and potential alternatives for future individual income tax reforms by focusing on the growth and volatility of three different tax systems.

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Vines, Cynthia C., and Martha L. Wartick. "Tax-Reporting Implications of Asymmetric Treatment: Direct Subsidies vs. Tax Deductions." Journal of the American Taxation Association 25, no. 1 (March 1, 2003): 87–99. http://dx.doi.org/10.2308/jata.2003.25.1.87.

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The Treasury Department has criticized use of the federal income tax system to deliver indirect subsidies to taxpayers in the form of tax deductions, and recommended that all such deductions be eliminated. It recognized, however, that it would be necessary to replace some tax deductions with direct subsidies. Using an experiment, we examined whether the form of the subsidy (tax deduction or direct subsidy) affects tax reporting. Despite the economic equivalence of the two forms of subsidy, we found that taxpayers who are disadvantaged by not receiving a direct subsidy reported more income than taxpayers disadvantaged by not receiving a tax deduction.

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Semenova, Galina N. "USING TAX DEDUCTIONS AT CALCULATING PHYSICAL PERSONS INCOME TAX." Bulletin of the Moscow State Regional University (Economics), no. 3 (2017): 54–60. http://dx.doi.org/10.18384/2310-6646-2017-3-54-60.

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Daneshvary, Nasser, and William A. Luksetich. "Income sources and declared charitable tax deductions." Applied Economics Letters 4, no. 5 (May 1997): 271–74. http://dx.doi.org/10.1080/758532591.

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Oosthuizen, Rudi. "A Framework For The Income Tax Deductibility Of Intellectual Property Expenditure Incurred By South African Taxpayers." International Business & Economics Research Journal (IBER) 12, no. 3 (February 19, 2013): 373. http://dx.doi.org/10.19030/iber.v12i3.7680.

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Taxpayers who use intellectual property (such as patents and trademarks) in their trade in the production of income may obtain the right of such use in a number of different ways. The nature of the transaction granting the taxpayer the use of intellectual property items determines the tax treatment thereof. Taxpayers may be able to claim deductions for the cost of using these items in terms of specific income tax sections or the general deduction formula as outlined by the Income Tax Act 58 of 1962. There are also a number of other sections in the Act which may affect the timing and extent of the deductions allowed. This article investigates the various income tax deductions which may be available to taxpayers in South Africa who make payments in respect of intellectual property. It considers the effect of important recent case law and changes to tax legislation on the timing and extent of these deductions and suggests a framework which can be applied to assist the taxpayer in understanding the structure of such deductions.

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Shinkareva, O. V., and S. A. Kormacheva. "Receiving a social tax deduction on personal income tax through an employer: amendments to the Tax Code of the Russian Federation." Buhuchet v zdravoohranenii (Accounting in Healthcare), no. 7 (June 21, 2021): 25–31. http://dx.doi.org/10.33920/med-17-2107-03.

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Article analyzes changes which the employers performing functions of the tax agent on an income tax will face since the beginning of 2022. Changes have been made to the Tax Code of the Russian Federation, which not only expand the range of social tax deductions, but also in some cases change the format of interaction between the employer and the employee, which he decided to receive a social tax deduction for personal income tax. The peculiarities of obtaining various types of social tax deductions through the employer, changes that will come into force in 2022 in this area, as well as the necessary documents are disclosed on the basis of which the employer provides the employee with social tax deductions.

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Young, James C., Sarah E. Nutter, and Patrick J. Wilkie. "A Re-Examination of the Effects of Personal Deductions, Tax Credits and the Tax Rate Schedule on Income Tax Progressivity and Income Inequality." Journal of the American Taxation Association 21, no. 1 (March 1, 1999): 32–44. http://dx.doi.org/10.2308/jata.1999.21.1.32.

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We refine and extend Seetharaman (1994) using tax-return-level Statistics of Income data that represent the population of 1992 federal individual income tax returns. Our results indicate that while the standard deduction, exemptions and tax rate schedule continue to contribute the most to progressivity, the rate schedule plays a much greater role (and the standard deduction and exemptions a much lesser role) than previously reported. In addition, consistent with Dunbar (1996), we find that tax credits, in particular the earned income credit, have a substantial effect on overall tax progressivity. Although itemized deductions continue to reduce overall progressivity, with housing costs (mortgage interest and real estate taxes) and state and local income tax deductions being the dominant items, our results indicate that their effect on tax progressivity is smaller than indicated in the earlier study. Finally, we find that the effect of the income tax system on income inequality is more pronounced than previously reported, especially when the data are partitioned by filing status.

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Seo, Bocook. "Study on Deductions in German Income Tax Law." Seoul Tax Law Review 26, no. 2 (August 31, 2020): 9–35. http://dx.doi.org/10.16974/stlr.2020.26.2.001.

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Givati, Yehonatan. "Theories of Tax Deductions: Income Measurement versus Efficiency." Journal of Law, Finance, and Accounting 5, no. 1 (April 20, 2020): 107–36. http://dx.doi.org/10.1561/108.00000042.

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Wu, T. C. Michael, and C. C. Yang. "Income tax deductions for losses as insurance revisited." Economic Modelling 41 (August 2014): 274–80. http://dx.doi.org/10.1016/j.econmod.2014.05.009.

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Slemrod, Joel. "Tax Reform and Tax Experts." Journal of the American Taxation Association 40, no. 2 (May 1, 2018): 83–88. http://dx.doi.org/10.2308/atax-52143.

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ABSTRACT The Tax Cuts and Jobs Act (TCJA), passed in 2017, represents the most comprehensive revision of the U.S. income tax since the Tax Reform Act of 1986 (TRA86). Although the TCJA shares many features with TRA86—corporate tax rate cuts, increasing the standard deduction, cutting back on deductions—it sharply differs in that it is neither revenue neutral nor distributionally neutral, both aspects of which are troubling in light of the large long-run federal fiscal imbalance and rising income inequality. Regardless of one's normative evaluation, the TCJA provides scores of natural experiments that can inform us about the consequences of tax changes on a wide range of economic behaviors.

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Combs, Deborah, and Brian Nichols. "The Tax Cuts and Jobs Act and the Middle Class." JABM JOURNAL of ACCOUNTING - BUSINESS & MANAGEMENT 26, no. 01 (April 29, 2019): 53. http://dx.doi.org/10.31966/jabminternational.v26i01.398.

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This paper explores how the tax cuts and jobs act of 2017 impacts middle-class taxpayers by calculating the tax liability at different levels of income and deductions in 2017 versus 2018. The results confirm the statements supporting the positive effect of the tax change for the middle class. The tax cut and jobs act eliminates personal exemptions, changes the standard deductions at various incomes and family sizes, and lowers marginal tax rates. After providing details of the act, this research examines the definition of the U.S. middle class by using prior research from the Pew Research Center, the United States Census Bureau, and the federal reserve to determine which income levels are attributable to the middle class. Then the tax liability for these income classes is calculated for single and married filing jointly taxpayers in both 2017 and 2018 to determine if the tax cuts and jobs act reduces the tax liability for the middle class. The results show that in almost all scenarios the tax liability in 2018 will be lower than in 2017, regardless of whether standard or itemized deductions are taken. The marriage penalty is no longer applicable, and the new tax act provides a substantial benefit to large families

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Mel'nikova, N. P., and A. V. Tikhonova. "Property tax deductions and fairness of personal income taxation." International Accounting 21, no. 9 (September 14, 2018): 1100–1112. http://dx.doi.org/10.24891/ia.21.9.1100.

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Mulcahy, Kevin. "Earned Income and American Museums." Culture and Local Governance 6, no. 2 (July 9, 2020): 92–102. http://dx.doi.org/10.18192/clg-cgl.v6i2.4752.

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The basis of the American approach to culture eschews any collective state intervention. Cultural institutions, such as museums, originated as the beneficiaries of private donors. Such philanthropy benefits from a tax code that provides financial incentives for contributions to private organizations. For institutions, funds raised from ancillary activities, such as gift shops, also enjoy significant tax exemptions. Yet, despite these publicly financed tax deductions, cultural visions are privately conceived, and reflect the agendas of the donors. This attitude represents the basic principle of the American patronage system: one that is facilitated by a tax policy, not a cultural policy.

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Bettinger, Pete, Harry L. Haney, and William C. Siegel. "The Impact of Federal and State Income Taxes on Timber Income in the South Following the 1986 Tax Reform Act." Southern Journal of Applied Forestry 13, no. 4 (November 1, 1989): 196–203. http://dx.doi.org/10.1093/sjaf/13.4.196.

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Abstract The 1988 federal and state income tax liabilities for hypothetical forest landowners in two federal income tax brackets, each with and without timber sale revenue, were calculated for the 14 southern states. At the medium income level, the state portion of total income tax liability(without timber sale revenue) ranges from 9% in Louisiana to 20% in North Carolina. With timber sale revenue, it ranges from 7% in Louisiana to 17% in North Carolina. At the high income level, the state portion of total income taxes (without timber sale revenue) ranged from 7% in Louisianato 16% in North Carolina, and with timber sale revenue, from 6% in Louisiana to 15% in North Carolina. Capital gains exclusions, deductions for federal income taxes, tax rates and schedules, standard deductions, and personal exemptions are the most important provisions for reducing state incometax liability. The installment sale method of reporting income was used as one alternative tax planning strategy for spreading timber sale revenue over a 2-year period. The purpose was to smooth cash flows and reduce the amount of income subject to higher marginal tax rates. Georgia taxpayerselecting the installment sale method of reporting in a hypothetical case saved $1,203 and $585 in total income taxes for the medium and high income levels, respectively. South. J. Appl. For. 13(4):196-203.

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Deb, Rajat, Tapash Paul, Jaharlal Debbarma, and Kiran Sankar Chakraborty. "Breaking the Stigma of Health Insurance." Management and Labour Studies 45, no. 1 (December 18, 2019): 54–84. http://dx.doi.org/10.1177/0258042x19890240.

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The research has attempted to assess the effects of income tax benefits on adoptions of health insurance and on tax compliances. Following thematic literature review, four hypotheses have been set and following the cross-sectional research design through it have gathered data from 120 respondents chosen through stratified random sampling technique oscillated in four stratums. The significant inferential statistical results have indicated to nullify all the hypotheses and it has been documented that selective demographics and enhanced tax deductions are likely to motivate health insurance enrolments; and such tax deductions would increase tax compliances and reduce tax evasions.

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SOKOLOV, E. V., E. V. KOSTYRIN, and A. B. BALANTSEV. "SOCIAL TECHNOLOGIES OF ENTERPRISE FINANCING." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 3, no. 4 (2021): 13–26. http://dx.doi.org/10.36871/ek.up.p.r.2021.04.03.002.

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The proposed social technologies for financing enterprises, based on economic and mathematical models, algorithms and software, are a permanent mechanism for increasing the income of working citizens, developing enterprises, increasing tax revenues and social payments. The use of social technologies for financing enterprises allows with a 5% increase in revenue over 50 years to increase the wages of employees by 63%, which will amount to almost 104 trillion rubles in Russia; to increase deductions to the development fund by 72%, in which, first of all, the owners of enterprises are interested, since this ensures the growth of their income and the possibility of constant modernization and renewal of technological equipment, the release of new competitive products; to reduce to zero deductions to the Federal Fund of Compulsory Medical Insurance (FCHIF) from wages above 76 rubles, which is 955% higher than the average salary in Russia as of January 20. At the same time, despite the reduction in the rate of contributions to the FCHIF, the amount of deductions to the state in the form of income tax, income tax and in the FCHIF increases.

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Tondani, Davide. "Complexity of Personal Income Tax Design: An Index of Measurement." Journal of Public Finance and Public Choice 27, no. 2 (October 1, 2009): 137–54. http://dx.doi.org/10.1332/251569209x15665367046624.

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Abstract This article puts forward an index of complexity of personal income tax design. Deductions and tax exemptions, etc., are often linked to legal tax brackets in order to increase fairness in the distribution of tax burden. But increased fairness tends to make the tax structure less comprehensible to the non-perfectly informed taxpayer. The proposed index gives a quantitative measurement of the distortion between legal and effective tax rates along the gross income scale and allows for intertemporal and interspatial comparisons. An application of the index to Italian personal income tax concludes the article.

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BALDRY, JONATHAN. "Personal Income Tax Deductions in Australia, 79/1978–1990/91." Economic Record 70, no. 211 (December 1994): 424–33. http://dx.doi.org/10.1111/j.1475-4932.1994.tb01860.x.

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Baldry, Jonathan. "Income Tax Deductions for Work-related Expenses: The Rationale Examined." Australian Economic Papers 37, no. 1 (March 1998): 45–57. http://dx.doi.org/10.1111/1467-8454.00005.

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Izraeli, Oded, and Mitchell Kellman. "The Propensity to Itemize in the Context of a Human Capital Model." American Economist 40, no. 2 (October 1996): 56–64. http://dx.doi.org/10.1177/056943459604000208.

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The decision whether or not to utilize the “long-form” and itemize deductions depends on income and non-income factors. The distribution of these factors among the various States tends to be stable over long periods of time. It follows that the federal individual income tax (FIIT) may be associated with a systematic deviation from location—neutrality. This is argued to be especially germane in periods associated with major reforms in the tax codes. It is suggested that this phenomenon is explicable in terms of a human capital model. The decision in any given year to itemize is a function of past accumulation of specific and specialized human capital. The effect of a tax reform is a large scale destruction of such capital. Therefore, certain predictions concerning the time path of the “propensity to itemize deductions” (PID) follow. Empirical support for this model is found from cross-section data at the State level, from years both preceding and following the 1986 Tax Reform and Simplification Act (TRA).

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Kellner, Martin. "Tax Amnesty 2004/2005 – An Appropriate Revenue Tool?" German Law Journal 5, no. 4 (March 1, 2004): 339–46. http://dx.doi.org/10.1017/s2071832200012499.

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Tax evasion is punishable. However, by tax amnesty the state waives punishment and gives tax dodgers the chance to return to honesty. The “Act To Promote Tax Honesty” offers people who evaded taxes between the years 1993 and 2002 an opportunity to wipe the slate clean by declaring their concealed income up to 2005. This offer applies to income tax, corporate tax, turnover tax, wealth tax, trade tax, inheritance tax, gift tax and tax deductions pursuant to the Einkommensteuergesetz (Income Tax Act). Amnesty participants must pay a reduced tax rate of 25 percent on declared income within ten days after the declaration. For income and corporate tax the assessment basis is reduced to 60 percent. Thereby the new law grants the repentant tax evaders a tax rate of 15 percent rather then usual up to 48 percent on the profits they gained in the past ten years.

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Shon, John, and Stanley Veliotis. "Is There a December Effect? Strategic Prepayments of Deductible State Income Tax." Journal of the American Taxation Association 32, no. 2 (September 1, 2010): 53–71. http://dx.doi.org/10.2308/jata.2010.32.2.53.

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ABSTRACT: Individuals’ state income tax payments are deductible in the year paid for federal income tax purposes. This study investigates whether, and to what extent, individuals implement federal tax planning by prepaying state estimated income taxes before year-end, even though those payments are not due until January 15. Based on a study of 34 states’ aggregate data on estimated income tax receipts from individuals, we find strong evidence of this effect. We also find that this effect is increasing with the cost of state income tax payments. The results suggest that individual taxpayers take steps to reduce taxes by shifting deductions from one year to an earlier year and/or exploit the time value of money provided by accelerating federal tax savings by one year.

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Wołowiec, Tomasz. "ECONOMIC AND SOCIAL ASPECTS OF PROGRESSIVE AND PROPORTIONAL TAXATION OF INCOMES." International Journal of New Economics and Social Sciences 8, no. 2 (December 30, 2018): 161–65. http://dx.doi.org/10.5604/01.3001.0012.9939.

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The case for a flat tax has been around for over two decades. In the early 1980s, Robert Hall and Alvin Rabush-ka of the Hoover Institution developed a tax system that is based on a single rate of taxation for all sources of income, as close as possible to the source. All income is classified as either business income or wages and taxed at one rate, except for a personal allowance exempting lower income individuals and families from taxation (this makes the Hall-Rabushka proposal to some extent progressive). There are no other exemptions, no deductions, no loopholes. The other essential aspect of the flat tax system developed by Hall-Rabushka is radical simplification of the tax system, by removing any deductions or reliefs, and by eliminating double taxation. This proposal repre-sents a fundamental change in the way governments would collect tax revenue. Flat tax is believed to help reduce red tape and associated difficulties and confusion. With tax form down to size of postcard the flat tax system makes tax filling much simpler and more efficient; achieve simplicity, economic efficiency and fairness (same rate for all) – three principle of effective/sound taxation; reduce tax evasion and cheating, by lowering opportunity cost of avoiding taxes. Flat tax systems means elimination of relief, allowances and thus eliminates loopholes in the sys-tem and provide incentives to work, save and invest that trigger an economic boom.

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Frolovа, N. B. "Income Taxation in U.S.: Current Trends." Statistics of Ukraine 87, no. 4 (March 12, 2020): 107–16. http://dx.doi.org/10.31767/su.4(87)2019.04.11.

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Essential components of D. Trump’s tax reform and its impact on the income distribution and economic growth in U.S. are investigated. The analysis covers innovations in the system of income taxation of citizens (tax rate on income of physical persons, change in the composition of itemized and standard deductions from the taxable income, the alternative minimum income tax, limitations on the inheritance tax, and change in the mode of taxation of pass-through income). The essence of the trickle-down economic theory is explicated, with emphasizing its central role in tax policy development in the USA, which caused occurrence of common features specific to tax reforms over the last 40 years. The considerable attention is paid in this context to the experience of tax reform introduced by R. Reagan (1986); its comparative analysis with the tax reform of D. Trump shows that with respect to income taxation both are intended to provide incentives to business and reduce tax burden on the high income population strata. However, assessment of Reagan’s tax reform consequences shows that concentration of capital at the hands of businesses and high income population strata not only failed to increase employment and income, but aggravated the social and economic problems in the country, caused by revenue reduction in the American budget, the growing public debt and the enhanced social inequality in the American society. This gave experts grounds to expect an occurrence of the analogous scenario in the result of D. Trump’s tax reform. The article gives a series of short-term and medium-term projected estimates of international experts for budget losses and change in the structure of the population (household) income in US. Innovations in the system of income taxation of U.S. citizens are investigated by the results of analysis of legal norms concerning changes in the scale of tax rates and in the system of deductions from the taxable income. A number of critical comments are given about the income tax policy, based on summing up strong and weak points of the trickle-down economic theory. The most essential of them is that the policy granting more beneficial tax preferences to the well-off population strata, with their negative effects for the vertical justice of the tax burden distribution, contradicts to the ability-to-pay tax principle. Recommendations on potential testing of selected innovations on line of the taxation reform in Ukraine are given using results of the analysis.

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Shinkareva, Olga Vladimirovna. "Employer provides a standard tax deduction on individual income tax per child — student full-time courses to 24 years." Buhuchet v zdravoohranenii (Accounting in Healthcare), no. 9 (September 1, 2020): 31–38. http://dx.doi.org/10.33920/med-17-2009-03.

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In article aspects of granting by the employer to the employee of a standard tax deduction on an income tax on the child of full-time courses, the graduate student, the intern, the student, the cadet aged up to 24 years are considered. The amount of these deductions has been considered, the conditions for obtaining this deduction by the employees of the company have been analyzed, the documents on the basis of which this type of deduction is provided have been disclosed, the peculiarities of the deduction in cases when the child is 24 years old in the current year (the period from which deductions are not provided), the peculiarities of the deduction in case the child is disabled in group I and II have been considered. Practical examples are given.

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Ross, David W. "An Update on Some Deductions, Credits and Incentives in the Oil and Gas Industry." Alberta Law Review 27, no. 1 (March 1, 1988): 24. http://dx.doi.org/10.29173/alr710.

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This paper considers various deductions, credits and incentives available under the Income Tax Act. CEDIP and the Canadian Exploration Incentive Program to those participating in the oil and gas industry. Since this paper was written in May 1988. the draft amendments to the Income Tax Act released on April 13. 1988 and discussed in this paper, have been enacted by S.C. 1988. c. 55.

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Dowd, Tim, Christopher Giosa, and Thomas Willingham. "Corporate Behavioral Responses to the TCJA for Tax Years 2017-2018." National Tax Journal 73, no. 4 (December 1, 2020): 1109–34. http://dx.doi.org/10.17310/ntj.2020.4.09.

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We analyze the initial corporate response to the 2017 enactment of the “Tax Cuts and Jobs Act” (TCJA). The TCJA changed many corporate tax provisions, including a reduction of the corporate statutory tax rate from 35 percent to 21 percent effective in 2018 and sweeping changes to the taxation of income earned abroad by U.S. corporations. Based on a sample of U.S. corporate tax returns, we find that corporations accelerated deductions into 2017 and delayed income into 2018, thereby minimizing their taxes. We estimate an income and deduction shifting tax elasticity of -0.11 and 0.08, respectively. Additionally, we study detailed tax returns of 81 large corporations to understand how those changes impacted them.

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Aleksandrova, Elena. "FOREIGN EXPERIENCE OF TAXATION OF CITIZENS INCOME AND POSSIBILITIES OF ITS APPLICATION IN RUSSIA." SOCIETY. INTEGRATION. EDUCATION. Proceedings of the International Scientific Conference 6 (May 20, 2020): 479. http://dx.doi.org/10.17770/sie2020vol6.5064.

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The goal of research is to develop recommendations for improving the mechanism of income taxation in Russia, taking into account the best foreign practices.The framework of studies was the monographic method and the method of comparative analysis of statistics and legislative documents of the financial authorities of Russia and leading foreign countries, as well as methods of modeling and generalization of the results.The necessity of strengthening the social function of income taxation is substantiated. A comparative analysis of modern taxation of personal income in Russia and abroad is carried out. As a result of the research, it was revealed that the main share of this tax is provided by taxing the incomes of the poorest segments of the population, which contradicts the principles of fair taxation.To improve the mechanism of taxation of incomes of Russian citizens, the experience of leading foreign countries in the application of a progressive scale, family taxation, the establishment of a tax-free minimum (allowance) and tax deductions was used. Particular attention is paid to introducing a tax-free minimum into the mechanism for applying standard deductions taking into account the cost of living.

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Brooks, Arthur C. "How Did the Great Recession Affect Charitable Giving?" Public Finance Review 46, no. 5 (February 12, 2017): 715–42. http://dx.doi.org/10.1177/1091142117691604.

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A great deal of research has studied the effects of income and tax changes on charitable giving. However, little work has focused on how these relationships were affected by the Great Recession. This article estimates the tax and income effects using the 2009 Panel Study of Income Dynamics. The estimates are notably different than the typical findings from before the recession. Most importantly, tax effects are higher and income effects are lower. These unusual patterns are more pronounced for secular giving than for religious giving, and the effects are muted when only considering tax itemizers. The estimates are used to develop policy analytic results, considering the effects of the 2013 personal income tax rate increases and possible tax deduction limits currently under consideration. I find the tax increases to have a moderately stimulative impact on giving but predict a cap on charitable deductions would have a large negative impact.

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Dobridge, Christine, Rebecca Lester, and Andrew Whitten. "IPOs and Corporate Taxes." Finance and Economics Discussion Series 2021, no. 058 (September 7, 2021): 1–75. http://dx.doi.org/10.17016/feds.2021.058.

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How does going public affect firms’ tax obligations and tax planning? Using a panel of U.S. corporate tax return data from 1994 to 2018, we compare tax payments for firms that completed an IPO with those that filed for an IPO but later withdrew and remained private. We find that in the years immediately following IPO completion, firms have a higher probability of paying taxes and pay more U.S. tax. The effects occur regardless of tax status in the pre-IPO period and are not explained by statutory limitations imposed on the use of pre-IPO losses. Higher income reported for financial reporting purposes, as well as lower interest deductions attributable to debt repayment, contribute to the increased tax payments. These increases are partially offset by higher tax deductions for post-IPO investment and employment spending. Furthermore, the IPO is associated with increased tax planning through foreign tax haven use. The evidence adds to the nascent literature examining corporate tax implications of the IPO decision.

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Almunia, Miguel, and David Lopez-Rodriguez. "The elasticity of taxable income in Spain: 1999–2014." SERIEs 10, no. 3-4 (October 11, 2019): 281–320. http://dx.doi.org/10.1007/s13209-019-00208-x.

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Abstract We study how taxable income responds to changes in marginal tax rates, using as a main source of identifying variation three large reforms to the Spanish personal income tax implemented in the period 1999–2014. The most reliable estimates of the elasticity of taxable income (ETI) with respect to the net-of-tax rate for this period are between 0.45 and 0.64. The ETI is about three times larger for self-employed taxpayers than for employees and larger for business income than for labor and capital income. The elasticity of broad income is smaller, between 0.10 and 0.24, while the elasticity of some tax deductions such as the one for private pension contributions exceeds one. Our estimates are similar across a variety of estimation methods and sample restrictions and also robust to potential biases created by mean reversion and heterogeneous income trends.

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Barbetta, Gian Paolo, Simone Pellegrino, and Gilberto Turati. "What Explains the Redistribution Achieved by the Italian Personal Income Tax? Evidence from Administrative Data." Public Finance Review 46, no. 1 (June 8, 2016): 7–28. http://dx.doi.org/10.1177/1091142116651488.

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We analyze the Italian personal income tax (PIT) in the light of the different tools available to the government to achieve income redistribution. We focus in particular on three mechanisms: marginal tax rates, deductions, and tax credits. Exploiting an extended version of the standard Pfähler decomposition, we estimate the contribution of each of these three tools to the overall redistributive effect of the PIT using administrative data on more than 1.3 million individual tax returns. Our estimates suggest that more than half of the total PIT redistributive effect is due to the two most important tax credits (the tax credit for employment and the tax credit for retirement income), while the marginal rates schedule contribution is about 40 percent. On the contrary, most of the itemized expenditures do not show any sizable impact on redistribution.

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Hulen, Myron C., William J. Kenny, and Anne L. Christensen. "Tax Planning for Professorial Sabbaticals." ATA Journal of Legal Tax Research 3, no. 1 (January 1, 2005): 1–21. http://dx.doi.org/10.2308/jltr.2005.3.1.1.

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A sabbatical leave and visiting position at another university offers professors many professional and financial advantages. Among the financial advantages are favorable taxation of the expenses incurred and income earned at the visited university. This paper discusses the tax implications of a visiting position, including eligibility for travel deductions, rules for deducting travel and transportation expenses, implications of taking a position outside of the United States, problems caused by the Alternative Minimum Tax, and other related issues. Also covered are the recordkeeping requirements and the use of federal per diem allowances.

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Baake, Pio, Rainald Borck, and Andreas Löffler. "Complexity and Progressivity in Income Tax Design: Deductions for Work-Related Expenses." International Tax and Public Finance 11, no. 3 (May 2004): 299–312. http://dx.doi.org/10.1023/b:itax.0000021973.38388.da.

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MEYER, DANIEL R., ELIZABETH PHILLIPS, and NANCY L. MARITATO. "The Effects of Replacing Income Tax Deductions for Children With Children's Allowances." Journal of Family Issues 12, no. 4 (December 1991): 467–91. http://dx.doi.org/10.1177/019251391012004005.

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All other industrialized countries have some version of a children's allowance, a grant provided to all families based on the number of children they have. In contrast, the United States provides tax deductions for children, which provide the most benefit to the rich and provide no benefit at all to most poor families. The authors argue that a children's allowance could be instituted in this country that would decrease poverty and welfare participation while not costing the federal government any additional resources. A microsimulation model shows the effects of three levels of children's allowances on government revenues, family incomes, welfare use, and labor supply.

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Setianingrum, Any, Aam Slamet Rusydiana, and Penny Rahmah Fadhilah. "Zakat as a Tax Credit for Raising Indonesian Tax Revenue." International Journal of Zakat 4, no. 1 (May 31, 2019): 77–87. http://dx.doi.org/10.37706/ijaz.v4i1.110.

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This study aims to select the most appropriate treatment of zakat and tax to maximize Indonesia taxation of the given three alternatives. The first alternative is zakat and taxes are not correlated. Second, zakat is used as deductions of taxable income. Third, zakat is used as a tax credit. The basic considerations for determining the rank of these three models are from the aspects of benefits, the costs, and the risks. The analytical tool used is ANP (Analytic Network Process). The research respondents are some experts and stakeholder of zakat and tax in Indonesia. Based on the result of this research, the first rank is zakat as a tax credit with a weight of 0,469. The second alternative is zakat as the deduction of Taxable Income with a weight of 0,385. The third or last alternative is zakat and tax has no direct relationship with the weight of 0,146. Based on this research, to increase tax revenue in Indonesia, zakat as a tax credit is advisable. Keywords: Zakat, tax, credit, ANP, Indonesia

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Benzarti, Youssef. "How Taxing Is Tax Filing? Using Revealed Preferences to Estimate Compliance Costs." American Economic Journal: Economic Policy 12, no. 4 (November 1, 2020): 38–57. http://dx.doi.org/10.1257/pol.20180664.

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This paper uses a quasi-experimental design to estimate the cost of filing taxes. Using US tax returns, I observe how taxpayers choose between itemizing deductions and claiming the standard deduction. Taxpayers forgo large tax savings to avoid compliance costs, which provides a revealed preference estimate of such costs. I show that costs increase with income, consistent with an opportunity cost of time explanation. These estimates suggest substantial costs of filing federal income taxes, significantly larger than previously estimated using surveys. (JEL H24, H26, H31)

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Shumyatsky, R. I. "ISSUES OF IMPROVEMENT OF INCOME TAXATION OF INDIVIDUALS." Territory Development, no. 1(19) (2020): 105–8. http://dx.doi.org/10.32324/2412-8945-2020-1-105-108.

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The article analyzes the role and place of taxes on personal income in the formation of the budget system of Russia. Attention is paid to individual elements of the irrationality of the taxation system of personal income. Some problematic aspects in the system of tax deductions are revealed. Measures have been developed to improve the taxation of personal income. The concept of a ‘smooth-step’ progressive taxation of personal incomes is proposed.

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Rai, Bhuvana. "Policy Forum: Write It Off (and Start Again)—Adapting Home Office Deductions for the Digital Era." Canadian Tax Journal/Revue fiscale canadienne 69, no. 2 (August 2021): 487–511. http://dx.doi.org/10.32721/ctj.2021.69.2.pf.rai.

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This article examines the current and historical legal schemes for deducting employment expenses—particularly those associated with a home office—under Canada's Income Tax Act, and concludes that the current legal test for such deductions is inequitable, ineffective, and imprecise. The author reviews the employment expense deductions available to taxpayers in other jurisdictions and proposes options for modifying Canada's employment expense deduction. The proposed changes would account for increasingly digital modes of working, advance equity, and add to taxpayer certainty.

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Enis, Charles R., and Leroy F. Christ. "Implications of Phase-Outs on Individual Marginal Tax Rates." Journal of the American Taxation Association 21, no. 1 (March 1, 1999): 45–72. http://dx.doi.org/10.2308/jata.1999.21.1.45.

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The goal of this paper is to show the behavior of effective marginal tax rates relative to statutory marginal tax rates within the rate structure of the present federal income tax regime. Understanding the behavior of effective marginal rates is important as these rates are a significant component of tax planning and decision making. Statutory marginal tax rates are explicitly stated in published rate schedules. Various deductions, exemptions and credits involved in determining the tax liability are phased out as gross income increases. These restrictions result in effective marginal tax rates that can exceed respective statutory rates. Substantial divergence between effective and statutory rates can occur when multiple phase-out provisions overlap and interact. This study develops an algebraic model using tax return information that converts statutory to effective marginal rates. Policy implications concerning simplifying the effective rate structure are also discussed.

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Bettinger, Pete, H. L. Haney, and W. C. Siegel. "The Impact of Federal and State Income Taxes on Timber Income in the West Following the 1986 Tax Reform Act." Western Journal of Applied Forestry 6, no. 1 (January 1, 1991): 15–20. http://dx.doi.org/10.1093/wjaf/6.1.15.

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Abstract Nineteen eighty-eight federal and state income tax liabilities for a hypothetical nonindustrial private forest landowner case were calculated for 13 western states. The state portion of the total income tax liability for the passive case (without timber sale revenue) ranged from 15% in Arizona, California, and Colorado to 25% in Hawaii for the medium income level. It ranged from 12% in Arizona and Colorado to 20% in Hawaii for the high income level. The state portion for the active case (with timber sale revenue) ranged from 12% in Arizona and Colorado to 21% in Hawaii, and from 10% in Arizona to 19% in Hawaii for the medium and high income levels, respectively. Federal income tax deductions, capital gain exclusions, and tax rates are the most important state provisions affecting state income tax liability. The installment sale method of reporting timber sale revenue was used as one alternative tax planning strategy. Timber sale revenue was spread over a 2-year period to reduce the amount of taxable income subject to higher marginal rates. In the Oregon hypothetical case, the landowners who elected to use the installment sale method would save $1,240 and $616 at the medium and high income levels, respectively. West. J. Appl. For. 6(1):15-20.

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Аветисян, Ани. "ПОДХОДЫ К ВЫБОРУ ПОЛИТИКИ НАЛОГООБЛОЖЕНИЯ В КОНТЕКСТЕ РЫНОЧНЫХ СТИМУЛОВ: ПРИМЕР АРМЕНИИ." Baltic Economic Journal 2, no. 30 (June 20, 2020): 4–13. http://dx.doi.org/10.46845/2073-3364-2020-2-30-4-13.

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Features of progressive, proportional and regressive types of taxation in the framework of the national income redistribution system are considered. The paper analyzes the literature devoted to the study of the impact of tax types on market incentives. The influence of the system of deductions and social benefits on the level of income inequality of the population and revenues to the state budget is considered. The article presents the income tax system in Armenia, statistics on the level of employment by industry, wages and taxes paid before and after the reform of the transition to the proportional tax scale, which came into force on January 1, 2020. Examples of a number of countries that use differentiation of tax rates depending on marital status are given. The analysis concluded that the weakness of economic regulatory institutions is a more significant factor than the level of tax rates

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Popkova, Zh G. "The Russian Cohen doctrine: problems in calculating costs and deductions in the absence of proper documentation." Actual Problems of Russian Law, no. 4 (May 30, 2019): 48–54. http://dx.doi.org/10.17803/1994-1471.2019.101.4.048-054.

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The article provides information about a foreign judicial doctrine (the Cohen Rule) that originated in the court case of 1930 with the participation of George Cohen, Broadway Theater manager and producer. The doctrine under consideration that is still valid in the US tax law does not exclude the application of the approximate amount of taxpayer’s expenses when calculating income taxes in the absence of documents verifying expenses. It is concluded that the domestic regulatory framework applies a similar approach that envisages a fixed deduction for individual entrepreneurs under Article 221 of the Tax Code. It is proposed to introduce a similar regulatory framework for corporate income tax.

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Prawira, Ida farida adi, Hanifa Zulhaimi, Widya Indriyani, and Muhamad Naufal. "THE ROLE OF INTERNAL AUDIT UNITS IN OVERSEEING THE PERFORMANCE OF TREASURER DUTIES AT LEGAL ENTITY." Asia Proceedings of Social Sciences 5, no. 1 (December 3, 2019): 46–49. http://dx.doi.org/10.31580/apss.v5i1.1080.

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This study measures how the internal audit units play a role in a Legal Entity University in fulfilling their tax obligations so that they fall into the category of compliant taxpayers. The Legal Entity University is a domestic tax subject because it does not meet the criteria of certain units of a government agency that are excluded as domestic subjects, as referred to in Article 2 paragraph (3) letter b of the Income Tax Law. In the case of a Legal Entity University having a business in the form of a separate legal entity, each separate legal entity has its own taxation obligations. With that status, the role of internal audit in LEU is very important, especially in overseeing the implementation of income tax deductions and collection.

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Zhang, Huan. "Challenges and Measures of the Financial Department of Chinese Universities under the New Personal Income Tax Laws." Journal of Innovation and Social Science Research 8, no. 7 (July 30, 2021): 190–98. http://dx.doi.org/10.53469/jissr.2021.08(07).35.

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The withholding of personal income tax is an important work of financial department in colleges and universities. The new tax law implemented in 2019 has introduced a series of measures such as special additional deductions, which make the financial department of colleges and universities face new challenges. Starting from the positive and negative effects of the new personal tax law on the macro level, this paper further analyzes the positive and negative effects of the new personal tax law on the financial department of colleges and universities, and puts forward the overall and special measures to deal with the new personal tax law and provide corresponding countermeasures and suggestions for the financial department of colleges and universities.

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Frischmann, Peter J., and Edward W. Frees. "Demand for Services: Determinants of Tax Preparation Fees." Journal of the American Taxation Association 21, s-1 (January 1, 1999): 1–23. http://dx.doi.org/10.2308/jata.1999.21.s-1.1.

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We empirically investigate the demand for income tax preparation services by examining factors that affect both the choice and level of utilization of service. We identify the demand factors as the taxpayer's (1) opportunity costs, (2) estimated tax savings when using a preparer, and (3) historical uncertainty in tax liability. Our panel data set allows us to measure individual-specific uncertainty, a new measure in assessing determinants of tax service demand. Consistent with prior research, choice is measured by whether a taxpayer uses a professional paid preparer. The preparer's fee is the measure of utilization level. Fee information is heavily censored in part because fees only need to be disclosed when taxpayers itemize deductions and have miscellaneous itemized deductions above the 2 percent limit. We develop a partially censored regression model to accommodate the censoring. Similar to Cragg (1971), we decouple the choice and level of utilization models; findings indicate differences between these models. Generally, taxpayers choose paid preparers for time savings and uncertainty protection. Fees, however, reflect the purchase of time and tax savings, not uncertainty protection. These results suggest that pricing structures for professional tax preparation services could be adjusted to more closely reflect the services provided.

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Nichols, Nancy B. "Criminal Prosecution of Tax Return Preparers." ATA Journal of Legal Tax Research 6, no. 1 (January 1, 2008): 24–42. http://dx.doi.org/10.2308/jltr.2008.6.1.24.

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Over 61 percent of individual taxpayers, accounting for more than 76 million returns, utilized the services of paid preparers in 2005. However, hiring a paid preparer does not assure the taxpayer or the government that the return will be prepared correctly. Tax return preparer fraud generally involves the preparation and filing of false income tax returns by preparers who claim inflated personal or business expenses, false deductions, unallowable credits or excessive exemptions on returns completed for their clients or fictitious taxpayers. Preparers may also manipulate income figures to fraudulently obtain tax credits, such as the earned income tax credit. The Criminal Investigation (CI) division of the Internal Revenue Service (IRS) prosecutes the most serious cases of preparers suspected of criminal or fraudulent behavior and other related financial crimes. This article investigates the role of CI in prosecuting tax return preparers and analyzes the results of 377 published tax return preparer criminal tax cases from 2000 through 2005. The paper also reviews various alternatives for discouraging fraudulent behavior, including registration of all paid preparers, automatic return preparation by the IRS, more stringent preparer penalties, and improved collection of assessed preparer penalties.

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Granruth, Laura Brierton. "Justice Implications of the Proposed Federal Family and Work Tax Credits: Applying Justice Theories to Policy Advocacy." Families in Society: The Journal of Contemporary Social Services 90, no. 2 (April 2009): 205–11. http://dx.doi.org/10.1606/1044-3894.3875.

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A 2005 Presidential Advisory Panel on Tax Reform proposed a family credit and a work credit to replace some current tax credits, deductions, and exemptions. Taxes are overlooked by many social workers as a policy instrument for increasing the disposable income of low- and moderate-income families. This paper analyzes the proposed new credits through a justice framework. Social justice often is defined as the equitable distribution of societal resources. This definition reflects one type of justice–-Rawls's egalitarian philosophy. A more nuanced understanding of justice may enable coalition building in policy making, leading to the enactment of tax policy that helps families pay for their basic needs–-a goal of both direct service and policy practice social work practitioners.

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LEBEDEVA, L. F. "Budget Innovations at the Period of Trump’s Presidency: Social Dimension." Outlines of global transformations: politics, economics, law 11, no. 2 (August 27, 2018): 46–62. http://dx.doi.org/10.23932/2542-0240-2018-11-2-46-62.

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Tax cuts and spending cuts go hand in hand at the beginning of the Trump epoch. The paper focuses on the social effects of the tax reform and new budget priorities which come along with steps aimed to move more people from welfare into the workforce. For a vast majority of Americans, the Tax Cuts and Jobs Act will lower their federal tax bill in the coming years due to the new rates, new tax brackets, much larger standard deductions, expanded child tax credit. The high quintiles pay the biggest share of the tax burden, so they will receive the largest volume in tax cuts. Income tax cuts, coming along with growing defense and infrastructure spending may significantly increase the budget deficit and national debt in the nearest future, and require huge slashing federal spending which would affect welfare programs for the low-income Americans. There are nо plans to cut Social Security benefits as the main driver of federal spending; but social expenditures which comprise cash benefits, direct in-kind provision of goods and services are proposed to being cut. The category of funding targeted by the Trump plan covers a wide rangeof basic services, from medical care to education programs, child care, housing assistance for low-income families.

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Journal articles on the topic 'Income tax deductions – Zimbabwe'

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