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Type: Journal Articles Authors: John Creedy and José Félix Sanz-Sanz ISSN: Print 0143-5671 Online: 1475-5890
Published in: Fiscal Studies, Vol. 31, No. 4, December 2010
Volume, issue, pages: Vol. 31, No. 4, pp. 535-561
JEL classification: H24, H71 Keywords: income taxation, revenue elasticity
This paper derives analytical expressions for the revenue elasticity of complex income tax systems, as applied to tax units and in aggregate. Among the complexities considered are the schedular nature of income tax systems and the role of central and regional governments, along with the existence of a range of intricate tax credits and eligible expenditures and deductions. Empirical estimates are obtained for the case of Spain using a cross-sectional data set, which enables a number of important ancillary elasticities (relating to allowances and tax credits, and different income sources) to be estimated. It is found that there is considerable variation among tax units in the revenue elasticity, with highly positively skewed distributions. The nature of the distributions varies among regions of Spain, and the aggregate elasticities for each region were found to display some variation associated with income distribution differences. The national aggregate is found to be around 1.3. Search |
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