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INEFFICIENT CORPORATE TAXATION AND HIDDEN TAXES IN SLOVAKIA
Abstract
The main goal of the paper is to evaluate the following idea: Effective taxation of corporations in Slovakia is significantly lower than supposed. It is a situation where the public sector is unable to catch the corporate profits effectively due to the for example increased mobility of the capital. We tried to find a relevant macroeconomic corporate profit measure and compare it with the real one. As the measure we use the components of the gross operating surplus - the S.11 (Non-financial corporations) and S.12 (Financial corporations) sectors (ESA 95 classification). Pressumed low corporate tax effectiveness results further into the second idea to be analyzed. We assume that the low ability of the public sector to gather the tax from economic corporate profits leads public sector to shift the tax burden more heavily on less-mobile forms of corporate tax base. Besides the statutory tax rate on corporate income other elements could influence the final amount of the tax paid by corporation. These elements – we call them hidden taxes - are usually not taken into consideration when assessing the final corporate tax burden. These hidden taxes may affect the corporations and may cause distortion efficiency by reducing the neutrality of the tax system. Subsequently we will consider the corporate tax incidence problem in order to identify key areas for further research in this area of the tax theory and policy.
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