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IEB18-01_Boadway+Pestieau.pdf (1.38 MB)

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Document de treball

Data de publicació

2018

Llicència de publicació

cc-by-nc-nd, (c) Boadway et al., 2018
Si us plau utilitzeu sempre aquest identificador per citar o enllaçar aquest document: https://hdl.handle.net/2445/120226

The tenuous case for an annual wealth tax

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Resum

We explore the case for and against an annual wealth tax as part of the overall tax mix. Few countries now use wealth taxes, and those that do adopt narrow tax bases. Taxes on inheritances or bequest are more common, but they generate limited revenue and apply to relatively few taxpayer. In principle, annual wealth taxes are roughly equivalent to capital income taxes on the assets to which they apply, although there are some assets for which wealth taxes might be simpler to implement than capital income taxes. Annual wealth taxes are distinct in purpose from inheritance taxes which are useful adjuncts to income taxes even if capital income is exempt. We recount the persuasive arguments for taxing capital income, albeit at different rates than for other income, and for taxing inheritances regardless of whether capital income is taxed. We argue that if the desire to tax asset income and wealth transfers is appropriately addressed by capital income and inheritance taxation, the additional need for an annual wealth tax is minimal and its benefits do not outweigh its administrative costs.

Matèries

Riquesa, Impostos, Dret de successions

Matèries (anglès)

Wealth, Taxation, Law of succession

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Col·leccions

IEB (Institut d’Economia de Barcelona) – Working Papers

Citació

BOADWAY, Robin W. and PESTIEAU, Pierre. The tenuous case for an annual wealth tax. IEB Working Paper 2018/01. [consulted: 11 of August of 2026]. Available at: https://hdl.handle.net/2445/120226

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