For more than 50 years, researchers around the world have tirelessly been searching for a solution to Blacks famous “dividend-puzzle.” However, despite tremendous efforts in different fields of economics, the influence of taxation on the distribution policy of firms has remained elusive and...

One of the most controversial aspects of the U.S. income tax system is the double taxation of corporate income. Such income is taxed both when it is earned by the corporation and when it is distributed to the shareholders. Most other kinds of income are taxed only once. It is generally thought...

In recent months, the Irish corporate tax regime has featured prominently in international tax policy debates, especially within the context of European tax reforms, high-profile corporate earnings reports and multinational investment flows changes.As financial repression sweeps across the OECD...

Reform of the U.S. international tax policy is under consideration in Congress. Policymakers are concerned with both reducing tax disincentives to repatriate earnings to the U.S. and with constraining business tactics to move U.S. income offshore. We argue that to achieve significant tax reform,...

Tax effects on distribution policy have been at the center of debate in the theoretical and empirical literature for over half a century. Theoretically, there are two major schools of thought on the matter. The “traditional view” predicts an influence of taxation on firms' payouts, while the...

Paper compares corporate tax systems and their trends in the EU and CEEC. It concludes that separate tax rate for dividends at the shareholder level, which gains in importance in the EU, is the predominant form in the CEEC. Besides its efficiency (mitigation of double taxation), it has the...