By Dr. Hans Fehr, Dr. Christoph Rosenberg, Professor Dr. Wolfgang Wiegard (auth.)
This e-book makes use of a computable common equilibrium framework to eval uate contemporary value-added tax reform proposals within the eu Union from a welfare viewpoint. After the e-book of the "White Paper" (1985) at the finishing touch of the interior eu industry, an severe and heated debate approximately tax impediments to loose exchange set in. in keeping with the unique plans of the fee of the eu Union, not just actual border controls but additionally economic frontiers in the ecu Union might were abolished on New Year's Day 1993. With admire to price further taxation this amounted to exchanging the vacation spot via the beginning precept. even supposing the foundation precept have been preferred by way of a few economists from the institution of a typical eu value-added tax procedure, time was once now not but ripe for this transformation. In December 1991, the ECOFIN Council might in simple terms agree at the so known as transitional approach. In essence, those transitional preparations preserve the vacation spot precept so far as attainable yet shift the border tax technique from nationwide frontiers to agencies. The transitional procedure is meant to run out on December 31, 1996, with the ultimate resolution for value-added taxation within the ecu Union being made up our minds upon by way of the ECOFIN Council until eventually December, 1995. within the occasion of no determination the transitional preparations might be persevered. the main most likely resolution can be a change to the foundation precept mixed with a few clearing mechanism to avoid significant profit reallocations among member states.
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Additional info for Welfare Effects of Value-Added Tax Harmonization in Europe: A Computable General Equilibrium Analysis
Instead, we refer to Gottfried and Wiegard (1991), which deals with the efficiency effects of exemption versus zero rating, and to a considerable body of literature dealing with the VAT treatment of special industries. 21 3. 1. The Questions This book is about value-added taxation in the European Union. More precisely, we shall focus on the welfare effects of alternative VAT reform proposals, including the current transitional system as well as different reform options that could be adopted after January 1, 1997.
These studies may be divided into two broad subgroups. , 1988, pp. 339363), and the OECD's Interlink-model (Cornilleau, 1988). These studies focus on the inflation, employment, and GNP effects of VAT harmonization. Because of their weak micro economic foundations, welfare effects of tax reforms cannot be dealt with adequately. Computable general equilibrium models constitute the second subgroup of macroeconomic models. Here, welfare effects come to the fore, whereas inflation and employment problems usually are neglected.
7), McLure (1987, p. 16), and Shoup (1990, p. 8). 3. Calculating Tax Liabilities 29 addition method, as tax-exclusive rates. IS Finally the reader should note that calculating tax liability according to (5) deviates from the illustrations of the subtraction method as contained, for example, in McLure (1972, p. 16; 1987, p. S. Treasury Department (1984, p. 16 There, the tax-exclusive tax rate is applied to the difference between net-of-tax sales and net-of-tax purchases. This requires easy identification of gross tax liability and of input VAT on purchases of intermediate goods.
Welfare Effects of Value-Added Tax Harmonization in Europe: A Computable General Equilibrium Analysis by Dr. Hans Fehr, Dr. Christoph Rosenberg, Professor Dr. Wolfgang Wiegard (auth.)