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Lindhe, Tobias; Södersten, Jan - 2013

This paper examines how the distortions caused by dividend taxation depend on whether or not shareholders can recover … their original equity injections without being subject to the dividend tax. We point out the alternative assumptions in the … distortive effects of dividend taxation. …

Persistent link: https://www.econbiz.de/10010126800

Dividend taxation and the cost of new share issues

Lindhe, Tobias; Södersten, Jan - 2014

This paper examines how the effects of dividend taxation on the cost of new equity funds depend on whether or not … shareholders can recover their original equity injections without being subject to the dividend tax. We point out the alternative … that the shareholders cannot recover their original equity injections without being subject to the dividend tax …

Persistent link: https://www.econbiz.de/10010412740

Why the Norwegian shareholder income tax is neutral

Södersten, Jan - 2019

This note extends the work by Sørensen (2005) and others by demonstrating why the Norwegian Shareholder Income Tax may be neutral between the two sources of equity funds, i.e. new share issues and retained earnings, despite the fact that the retention of earnings to finance new investment does...

Persistent link: https://www.econbiz.de/10011967007

The Norwegian shareholder tax reconsidered

Södersten, Jan; Lindhe, Tobias - 2011

In an article in International Tax and Public Finance, Peter Birch Sørensen (2005) gives an in-depth account of the new Norwegian Shareholder Tax, which allows the shareholders a deduction for an imputed risk-free rate of return. Sørensen’s positive evaluation appears as reasonable for a...

Persistent link: https://www.econbiz.de/10008991269

The Equity Trap, the Cost of Capital and the Firm´s Growth Path

Lindhe, Tobias; Södersten, Jan - 2006

This paper reconsiders Sinn's (1991) nucleus theory of the corporation by comparing two different regimes for the equity trap. In the first of these, all cash paid to the shareholders is taxed as dividends, in the second, shareholders are allowed a tax-free return of capital contributed through...

Persistent link: https://www.econbiz.de/10010321558

Economic Effects of Taxing Different Organizational Forms under a Dual Income Tax

Lindhe, Tobias; Södersten, Jan; Öberg, Ann - 2003

This paper analyzes the economic effects of different income splitting rules for closely held corporations and sole proprietorships/partnerships in a tax system with a dual income tax. We conclude that the tax rules for closed corporations offer roughly the same cost of capital as for widely...

Persistent link: https://www.econbiz.de/10010321596

Economic Effects of Taxing Closed Corporations under a Dual Income Tax

Lindhe, Tobias; Södersten, Jan; Öberg, Ann - 2001

Under the Nordic dual income tax system, the taxpayer's total tax bill depends not only on his total income but also on the division of that income between capital income and labor income. This has created new room for tax avoidance, especially for active owners of (closed) corporations. For...

Persistent link: https://www.econbiz.de/10010321734

The equity trap, the cost of capital and the firm's growth path

Lindhe, Tobias; Södersten, Jan - 2006

Persistent link: https://www.econbiz.de/10010263981

Dividend taxation, share repurchases and the equity trap

Lindhe, Tobias; Södersten, Jan - 2009

This paper reconsiders the effects of dividend taxation. Particular attention is paid to the form of the equity trap …

Persistent link: https://www.econbiz.de/10010267266

Dividend taxation, share repurchases and the equity trap

Lindhe, Tobias; Södersten, Jan - 2009

This paper reconsiders the effects of dividend taxation. Particular attention is paid to the form of the 'equity trap …

Persistent link: https://www.econbiz.de/10010321462