Developments in the Taxation of Corporate Profit in the OECD since 1965: Rates, Bases and Revenues

Michael Devereux

84 citations0/0 files storedRePEc: Research Papers in Economics

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Corporate Taxation and Avoidance Economic and Fiscal Studies Fiscal Policy and Economic Growth

Abstract

This paper describes developments in corporation taxes in the OECD over the last 40 years. It pays particular attention to the apparent divergence in the trends of the average statutory corporation tax rate and the average ratio of corporation tax revenues to GDP: the former has declined over time, while the latter has risen. It develops a simple framework for assessing the expected effect of the tax rate on tax revenues, and estimates the relationship using a panel of aggregate data for 20 OECD countries from 1965 to 2004, controlling for a measure of the tax base and other factors. There is only weak evidence of any relationship between the two. Evidence which does support a relationship is consistent with the finding of Clausing (2006) that the relationship is nonlinear, and that the implied revenue-maximising tax rate is likely to be low.

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References

1967Tax Policy and Investment Behavior 2002Corporate income tax reforms and international tax competition 2002Evaluating Tax Policy for Location Decisions 2003Are corporate tax rates, or countries, converging?2007Corporate tax revenues in OECD countries 2005Who Bears the Corporate Tax? A review of What We Know 1991Taxing profits in a global economy

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