IMF Working Papers

No Business Taxation Without Model Representation: Adding Corporate Income and Cash Flow Taxes to GIMF

By Benjamin Carton, Emilio Fernández Corugedo, Benjamin L Hunt

November 17, 2017

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Benjamin Carton, Emilio Fernández Corugedo, and Benjamin L Hunt. No Business Taxation Without Model Representation: Adding Corporate Income and Cash Flow Taxes to GIMF, (USA: International Monetary Fund, 2017) accessed November 21, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking, DSGE model developed at the International Monetary Fund for policy analysis and international economic research. This paper documents the incorporation of corporate income, cash-flow and destination based cash-flow taxes into the model. The analysis presented considers the transmission mechanism of these taxes and details how financial frictions interact with each of the taxes.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Cash-flow tax, Corporate income tax, Corporate taxes, Crime, Taxes, Value-added tax

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Business taxation, Cash flow, Cash flow types tax, Cash-flow tax, Corporate income tax, Corporate leverage, Corporate taxes, Cost of capital, DBCFT relative, Destination-Based Cash Flow Tax, Dynamic stochastic general equilibrium models, Financial accelerator, Global, Macroeconomic interdependence, Proceeds, Return to capital, Shadow price, Tax, Tax deductibility, Tax instrument, Tax liability, Tax policy, Tax result, Transfer payments, Transmission mechanism, Types tax, Value-added tax, WP

Publication Details

  • Pages:

    61

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 2017/259

  • Stock No:

    WPIEA2017259

  • ISBN:

    9781484326015

  • ISSN:

    1018-5941