《INVESTMENT INCENTIVES》求取 ⇩

Foreword by P. den Boer9

Summary11

Glossary13

CHAPTER Ⅰ WHY INVESTMENT INCENTIVES MATTER17

CHAPTER Ⅱ WHAT ‘INVESTMENT INCENTIVE’ MEANS20

CHAPTER Ⅲ WHAT INVESTMENT INCENTIVES ARE FOR23

CHAPTER Ⅳ CATALOGUE OF INVESTMENT INCENTIVES26

The catalogue27

Ⅰ.Accelerated depreciation27

（a） Depreciation at choice28

（b） ‘Free depreciation’28

（c） Initial allowances29

（d） Advanced depreciation29

（e） Depreciation on the basis of replacement cost29

（f） Declining-balance depreciation30

Ⅱ.Valuation discount31

Ⅲ.Tax-free reserves32

Ⅳ.Investment deductions34

（a） Investment allowances34

（b） Investment tax credits36

Ⅴ.Investment payments37

Ⅵ.Concessionary tax rates； changes in tax rates； tax exemptions37

Ⅶ.Carry-back and carry-forward of losses38

Ⅷ.Investment grants38

Ⅸ.Cheap loans； interest subsidies40

Ⅹ.Concessionary prices and other price subsidies40

ⅩⅠ.Discouragements to investment: selective invest-ment tax41

The tables41

1. Relationships of investment incentives to profits and tax42

2. Forms of tax incentive43

3. Relationships of investment incentives to the rate of in-terest44

CHAPTER Ⅴ TECHNICALITIES OF INVESTMENT INCENTIVES46

Deferral of tax46

Normal depreciation46

Methods of depreciation46

Valuation at actual value47

Depreciation in accordance with intensity of use48

Normal depreciation permitted by tax law49

Degressive depreciation49

Useful life52

Residual value53

Starting time of depreciation54

Recaptured depreciation55

Accelerated depreciation56

Technicalities of deviation from the norm57

Non-technical elements of recapture provisions59

Investment reserves59

Reserves not constituting a tax deferral61

Reduction of tax61

Qualifying investments explained by examples62

The profitability of the investor64

Investment payments65

The German Investitionszulage65

The Dutch draft Investeringsrekening66

Tax-shelter investment67

CHAPTER Ⅵ COUNTRY-BY-COUNTRY CLASSIFICATION71

Tabular classification71

Accelerated depreciation71

Valuation discount72

Carry-back/carry-forward75

Classified list of measures75

Belgium75

Denmark76

France76

Germany77

Ireland78

Italy78

Luxembourg80

Netherlands80

Sweden81

United Kingdom81

United States82

Current trends82

CHAPTER Ⅶ INCENTIVES AND DISCOURAGEMENTS86

Investment and consumption87

Concepts of neutrality93

Tax expenditures95

Profit-sharing and worker participation96

Environmental control99

CHAPTER Ⅷ TAX INCENTIVES AND THE SYSTEM OF COR-PORATION TAX102

Systems of corporate taxation102

Which rate of tax determines the value of a tax-related investment incentive?105

Investment incentives and relief from economic double taxation108

Investment incentives and relief from international double taxation109

Repayment of tax never paid110

The use of investment incentives to finance dividends112

CHAPTER Ⅸ THE LOGIC OF AN INCENTIVE SYSTEM113

Equivalence of investment incentives113

Real value of investment grants and investment allowances114

Cumulation of investment incentives116

Investment incentives and marginal quality of investment117

Investment incentives and marginal firms118

CHAPTER Ⅹ THE COSTS AND BENEFITS OF INVESTMENT INCENTIVES120

Costs120

Benefits121

Investment quality122

Cost/benefit ratio or balance123

Research123

CHAPTER ⅩⅠ THE CHOICE OF INVESTMENT INCENTIVE126

Disadvantages of the conventional approach126

Choice for the policy-maker and choice for the firm128

The choice of investment incentive128

（ⅰ） Before tax and after tax129

（ⅱ） Tax-related incentives and subsidies129

（ⅲ） The catalogue131

Conclusion133

List of tables137

Index139