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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
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Distortive effects of dividend taxation
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
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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
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What kind of Corporation Tax Regime?
Cnossen, Sijbren - 2014 - This version: 18 November 2014
This paper explores the taxation of corporations in the wider context of capital income taxation. The pros and cons of various income-based and cash-flow forms of corporation tax (CT) are discussed. The paper concludes that the dual income tax (DIT), which taxes all capital income at the...
Persistent link: https://www.econbiz.de/10010459664
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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
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Payout policies of privately held firms : flexibility and the role of income taxes
Jacob, Martin; Alstadsæter, Annette - 2013 - This version: November 2013
payout channel and are rather sticky. Choice of payout channel and level of payout are affected by dividend and wage taxation …
Persistent link: https://www.econbiz.de/10010207348
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Dividend taxation and firm performance with heterogeneous payout responses
Bilicka, Katarzyna; Güçeri, Irem; Koumanakos, Evangelos P. - 2022
We analyze the short and long-run performance of firms that were differentially affected by a new tax on dividends in the lead-up to the Global Financial Crisis. We use exogenous policy variation for firms with different legal statuses and financial year-end dates to causally identify the...
Persistent link: https://www.econbiz.de/10013475268
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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 …. -- dividend taxation ; share repurchases ; equity trap ; cost of capital ; nucleus theory ; growth path …
Persistent link: https://www.econbiz.de/10003836613
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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 …. -- dividend taxation ; share repurchases ; equity trap ; cost of capital ; nucleus theory ; growth path …
Persistent link: https://www.econbiz.de/10003850505
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The taxation of closely held firms : the achilles heel of the dual income tax system reconsidered
Stenkula, Mikael; Wykman, Niklas - 2022
This study presents an improvement of the King-Fullerton framework for calculating the marginal effective tax rate (METR) for active owners of closely held corporations in a dual income tax system with income splitting rules. The original King and Fullerton model was not modeled to incorporate...
Persistent link: https://www.econbiz.de/10013277457