Corporate income tax reforms and international tax competition
分析了欧盟和G7国家过去二十年企业所得税改革，发现减税和扩大税基使边际投资有效税率稳定，但高利润投资税率下降，并探讨了两种税收竞争解释。
This paper analyses the development of taxes on corporate income in EU and G7 \ncountries over the last two decades. We establish a number of stylised facts about \ntheir development. Tax-cutting and base-broadening reforms have had the effect \nthat, on average across EU and G7 countries, effective tax rates on marginal \ninvestment have remained fairly stable, but those on more profitable investments \nhave fallen. We discuss two possible explanations of these stylised facts arising \nfrom alternative forms of tax competition. First, governments may be responding to \na fall in the cost of income shifting, which puts downward pressure on the statutory \ntax rate. Second, reforms are consistent with competition for more profitable \nprojects, in particular those earned by multinational firms.