In: Ekonomický časopis/Journal of Economics, vol. 56, no. 7
Jan Vlachý
Detaily:
Rok, strany: 2008, 649 - 661
Kľúčové slová:
real options, income tax, incorporation, limited liability, corporate leverage, progressive taxation
JEL Classification: C15, D81, G32, G38, H21, H30
Typ článku: Vedecký / Article
O článku:
The paper uses a single-period option-based model to analyze the net value of business income under uncertainty, focusing on the effects of tax asymmetries and observing the distinct features of individual and corporate forms of business organization. Its parameters include the income tax structure and corporate leverage. Results are illustrated on applications using 2007 data in the Czech Republic and Slovakia. Various asymmetries are identified and discussed, leading to a hypothesis on the incentive to incorporate, less pronounced under the Czech tax framework, which tends to favour the personal form for a range of businesses.
The paper uses a single-period option-based model to analyze the net value of business income under uncertainty, focusing on the effects of tax asymmetries and observing the distinct features of individual and corporate forms of business organization. Its parameters include the income tax structure and corporate leverage. Results are illustrated on applications using 2007 data in the Czech Republic and Slovakia. Various asymmetries are identified and discussed, leading to a hypothesis on the incentive to incorporate, less pronounced under the Czech tax framework, which tends to favour the personal form for a range of businesses.
Ako citovať:
ISO 690:
Vlachý, J. 2008. Assessing Tax Asymmetries and the Incentive to Incorporate. In Ekonomický časopis/Journal of Economics, vol. 56, no.7, pp. 649-661. 0013-3035.
APA:
Vlachý, J. (2008). Assessing Tax Asymmetries and the Incentive to Incorporate. Ekonomický časopis/Journal of Economics, 56(7), 649-661. 0013-3035.