This book surveys the theoretical issues that characterize the problem of reforming capital income taxes in an open economy. It explores the tax incentives and disincentives to investment in an open economy framework allowing cross-border portfolio and direct investment.
Preface -- Allocation and Taxation -- Reforming Capital Income Taxation in the Open Economy: Theoretical Issues -- Tax Havens, Tax Bargains and Tax Addresses: The Effect of Taxation on the Spatial Allocation of Capital -- Can Direct and Indirect Taxes Be Added for International Comparisons of Competitiveness? -- Taxation and Capital Flows -- Tax-Driven Regulatory Drag: European Financial Centers in the 1990s -- Capital Outflow and Taxation — The Case of the Federal Republic of Germany -- Tax Evasion and Offshore Centres -- Simulations of Global Effects of VAT Harmonization -- The Harmonization Issue -- Capital Market Integration: Issues of International Taxation -- Is There a Need for Harmonizing Capital Income Taxes within EC Countries? -- On the Direction of Tax Harmonization in the European Community -- Restructuring Capital Income Taxation -- Reforming Capital Income Taxation: The UK Experience -- Capital Income Taxation in the Federal Republic of Germany — An Assessment from an Efficiency Perspective -- Reform of Capital Income Taxation in the Federal Republic of Germany — Policy Options