Progressive taxation of extractive resources as second-best optimal policy /
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| Author / Creator: | Wen, Jean-François, author. |
|---|---|
| Imprint: | Washington, D.C. : International Monetary Fund, 2018. |
| Description: | 1 online resource (32 pages) |
| Language: | English |
| Series: | IMF working paper ; WP/18/130 IMF working paper ; WP/18/130. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12508187 |
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| 100 | 1 | |a Wen, Jean-François, |e author. | |
| 245 | 1 | 0 | |a Progressive taxation of extractive resources as second-best optimal policy / |c by Jean-François Wen. |
| 264 | 1 | |a Washington, D.C. : |b International Monetary Fund, |c 2018. | |
| 300 | |a 1 online resource (32 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/18/130 | |
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a Cover; Contents; I. Introduction; II. Purposes of Progressivity; A. Equity; B. Flexibility and Stability; III. A Different Perspective; IV. Decomposing Non-Neutral Taxes into a Rent Tax and a Factor Tax; A. Rent Tax; B. Factor Tax; C. Royalties; D. Profit Tax; V. Progressive Profit Tax Rates; A. Royalty and Profit Tax; B. Firm's Behavior with Distortionary Taxes; C. Progressivity of the Profit Tax; D. Binding Constraint: T(p) = V(p); E. Non-Binding Constraint: T(p) <V(p); F. Implications for Average Tax Rate Progressivity; VI. Practical Implications; VII. Conclusions; References | |
| 520 | 3 | |a The paper provides a critical review of the literature on the concept of progressivity in the taxation of petroleum and mineral resources and offers a fresh perspective on its purpose and measurement. Regressive taxes, such as royalties, exist to satisfy policy objectives other than revenue maximization, such as achieving early revenues, while rent-based or profit-sensitive fiscal instruments must be designed with progressive marginal rates to maximize government revenues. Hence, the emphasis should be placed on tax rate progression of the direct taxation of profit or rent, rather than progressivity in the overall government take. However, as regressive taxes, by their very nature, tend to be distortionary, the optimal degree of progression in the rent- or profit-tax rates must take these distortions into account. The central ideas are illustrated with a simple analytical model in which a second-best optimal tax rate schedule on profit is characterized in the presence of the tax distortions caused by the regressive taxes. Some practical implications of the analysis are discussed. | |
| 650 | 0 | |a Minerals industry |x Taxation. | |
| 650 | 0 | |a Petroleum |x Taxation. |0 http://id.loc.gov/authorities/subjects/sh85100395 | |
| 650 | 0 | |a Mines and mineral resources |x Taxation. |0 http://id.loc.gov/authorities/subjects/sh85085623 | |
| 650 | 0 | |a Mineral industries |x Economic aspects. | |
| 650 | 0 | |a Petroleum industry and trade |x Economic aspects. | |
| 650 | 7 | |a Mineral industries |x Economic aspects. |2 fast |0 (OCoLC)fst01022241 | |
| 650 | 7 | |a Mines and mineral resources |x Taxation. |2 fast |0 (OCoLC)fst01022621 | |
| 650 | 7 | |a Petroleum industry and trade |x Economic aspects. |2 fast |0 (OCoLC)fst01059569 | |
| 650 | 7 | |a Petroleum |x Taxation. |2 fast |0 (OCoLC)fst01059378 | |
| 650 | 7 | |a Business Taxes And Subsidies. |2 imf | |
| 650 | 7 | |a Efficiency. |2 imf | |
| 650 | 7 | |a General. |2 imf | |
| 651 | 7 | |a All Countries. |2 imf | |
| 655 | 4 | |a Electronic books. | |
| 710 | 2 | |a International Monetary Fund, |e publisher. |0 http://id.loc.gov/authorities/names/n81052755 | |
| 776 | 0 | 8 | |i Print version: |a Wen, Jean-François. |t Progressive Taxation of Extractive Resources As Second-Best Optimal Policy. |d Washington, D.C. : International Monetary Fund, ©2018 |z 9781484361627 |
| 830 | 0 | |a IMF working paper ; |v WP/18/130. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 929 | |a oclccm | ||
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| 928 | |t Library of Congress classification |l Online |c UC-FullText |u http://elibrary.imf.org/view/IMF001/25214-9781484361627/25214-9781484361627/25214-9781484361627.xml |z International Monetary Fund |g ebooks |i 12152664 | ||