Replication data for: The Elasticity of Corporate Taxable Income: New Evidence from UK Tax Records
Principal Investigator(s): View help for Principal Investigator(s) Michael P. Devereux; Li Liu; Simon Loretz
Version: View help for Version V1
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Project Citation:
Devereux, Michael P., Liu, Li, and Loretz, Simon. Replication data for: The Elasticity of Corporate Taxable Income: New Evidence from UK Tax Records. Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-13. https://doi.org/10.3886/E114857V1
Project Description
Summary:
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We estimate the elasticity of corporate taxable income with respect to
the statutory corporation tax rate using the population of UK corporation
tax returns. We analyze bunching in the distribution of taxable
income at kinks in the marginal rate schedule. We decompose this
elasticity into an elasticity of total income with respect to the corporation
tax rate, and an elasticity of the share of income taken as profit
with respect to the difference between the personal and corporate tax
rates. This implies a marginal deadweight cost at the £10,000 kink of
around 29 percent of tax revenue.
Scope of Project
JEL Classification:
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G32 Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
H24 Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
H25 Business Taxes and Subsidies including sales and value-added (VAT)
L25 Firm Performance: Size, Diversification, and Scope
G32 Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
H24 Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
H25 Business Taxes and Subsidies including sales and value-added (VAT)
L25 Firm Performance: Size, Diversification, and Scope
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