Notice bibliographique
Résumé
The Canadian corporate income tax system is subject to a number of problems that call for fundamental reforms, starting with rethinking the main role of the system. The corporate tax is mainly designed to serve as a withholding device for the personal income tax. It prevents shareholders from sheltering corporate-source earnings from the personal income tax by taxing those earnings at source. Integration of the corporate income tax and of the personal income tax, through the dividend-tax credit and the preferential treatment of capital gains, mitigates the potential for doubletaxation. We argue that exposure to international capital markets, which implies that the incidence of the corporate tax is largely shifted to labour, and the fact that most capital income can be sheltered from the personal income tax undermine the withholding role of the corporate tax and make integration provisions unnecessary. The current system also leads to distortions in firms’ investment decisions, financing decisions, risk-taking and innovation efforts, and decisions about where to locate business activities and where to report profits. Tax competition and international profit-shifting are also putting downward pressure on tax rates. This Commentary examines these problems and formulates a number of recommendations for reform. The main one involves changing the tax base from shareholder income to above-normal profits, or rents. This could be done with relatively little disruption of the current system by adopting the allowance for corporate equity (ACE) tax system which allows firms to deduct from taxable income the cost of equity financing, in addition to deducting interest on debt. Ideally, this tax base would apply to both incorporated and unincorporated businesses. Adopting the ACE would narrow the tax base, although the potential loss in revenue would be entirely compensated by eliminating the dividend-tax credit and the partial taxexemption of capital gains, as we argue should be done. Our proposed reforms include a number of other elements. First, the territorial approach for taxing international active business income should apply. Second, firms should be allowed to carry forward and backward tax losses at the risk-free interest rate, which would encourage risk-taking and innovation. Third, we recommend maintaining the small business deduction to compensate for the non-refundability of losses, which are more prevalent among small businesses. However, eligibility should be determined on the basis of a lifetime threshold rather than an annual one. Finally, in order to promote innovation, introducing a preferential tax rate for patent income, as well as extending flow-through share financing to investment in small innovative firms, should be considered.
Récupéré en direct depuis OpenAlex et désinversé. Les résumés ne sont pas conservés dans cette base de données : les index inversés représentent 8,6 Go des 9,3 Go de texte de la base, et le serveur dispose de 13 Go libres.
Comment cette classification a été obtenuedéplier
Prédiction machine sur la base complète
Imitation des enseignantsNi prévalence calibrée, ni vérité terrain. Validation humaine à venir. Le volet Gemma est une étiquette directe du modèle pour chaque travail de la base, lue sur la notice réduite au titre. Le volet Codex est un classifieur appris des 10 348 étiquettes directes de Codex et calibré sur les taux pondérés de l'échantillon; les champs sans appui suffisant ne portent aucun appel Codex. Le mode candidate est l'union des deux volets; le consensus est leur intersection. Ces sorties portent le statut machine_predicted_unvalidated et ne sont pas des étiquettes humaines.
Scores du classifieur distillé par catégorie (deux têtes)
| Catégorie | Codex | Gemma |
|---|---|---|
| Métarecherche | 0,003 | 0,009 |
| Méta-épidémiologie (sens strict) | 0,001 | 0,000 |
| Méta-épidémiologie (sens large) | 0,000 | 0,001 |
| Bibliométrie | 0,002 | 0,002 |
| Études des sciences et des technologies | 0,004 | 0,006 |
| Communication savante | 0,006 | 0,005 |
| Science ouverte | 0,002 | 0,002 |
| Intégrité de la recherche | 0,004 | 0,007 |
| Charge utile insuffisante (le modèle a refusé de juger) | 0,008 | 0,002 |
Scores machine (provisoires)
Les deux têtes enseignantes du modèle étudiant, lues sur ce travail. Un score ordonne la base pour la relecture; il n'affirme jamais une catégorie, et le statut de validation accompagne chaque rangée tel quel.
Scores de référence d'un modèle non mature (critères de maturité non atteints, 7 itérations). Un score ordonne; il n'affirme jamais une catégorie.
score_only:v0-immature-baseline · tel quel depuis la passe de notation : score_only signifie que le nombre peut ordonner les travaux, et qu'aucune étiquette de catégorie n'en découleClassification
machine, non validéePrédiction automatique; un appel candidat d’une seule source (Gemma direct ou Codex distillé), pas un consensus.
Le détail, modèle par modèle et score par score, se trouve en fin de page sous « Comment cette classification a été obtenue ».