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© 1991 International Bank for Reconstruction and Development / The World Bank

research-article

CASH FLOW OR INCOME?: The Choice of Base for Company Taxation

Jack M. Mintz and Jesús Seade

Cash flow and equity income (or income) are two alternative bases advocated for taxes on businesses throughout the world. Although in practice most tax systems are hybrids with elements of both types of taxes, recent literature has stressed the merits of the cash flow tax because it is simple in concept and it does not distort decisions about capital expenditures and financing. But international issues and administrative complexities—particularly tax evasion—present problems that must be sorted out before a cash flow tax can be implemented.


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