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Distortive Effects of Dividend Taxation
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics, Uppsala Center for Fiscal Studies.
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics, Uppsala Center for Fiscal Studies.
2013 (English)Report (Other academic)
Abstract [en]

This paper examines how the distortions caused by dividend taxation depend on whether or not shareholders can recover their original equity injections without being subject to the dividend tax. We point out the alternative assumptions in the literature on this, and we compare two different tax regimes, one where it is impossible for the firm to pay cash to its shareholders that is not taxed as dividends, the other where the shareholders are allowed a tax-free return of the original capital contributed through new issues. Our analysis shows that the regimes imply a substantial difference to our perceptions of the distortive effects of dividend taxation.

Place, publisher, year, edition, pages
2013. , 21 p.
Series
Working paper / Uppsala Center for Fiscal Studies, Uppsala University, 2013:9
Keyword [en]
dividend taxation, share repurchases, equity trap, cost of capital, nucleus theory, growth path
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:uu:diva-206716OAI: oai:DiVA.org:uu-206716DiVA: diva2:645197
Available from: 2013-09-03 Created: 2013-09-03 Last updated: 2013-09-03Bibliographically approved

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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf