|
Subject: immobile investment econ. Пожалуйста, помогите перевести.Выражение встречается в следующем контексте: If such countries also face revenue constraints and therefore wish to maintain a high tax rate on IMMOBILE INVESTMENT, and if a split rate is ruled out, because of
political reasons, then a tax holiday would be a rational policy. Still, the risks of that policy remain, in particular, the possibility that mainly footloose investment is attracted.29 In that case no further investment will take place after the expiry of the holiday, unless new holidays are available (either to the same firm or a different one), so that the country is trapped in this strategy. So ultimately the country is running a split-rate system with a rate of zero on some investment, combined with high administrative and legal costs, as mobile firms have to ensure that they continue qualifying for tax holidays, including by shutting down operations and reopening. It is possible that an explicit split-rate system with a low but positive rate would be equally attractive to mobile capital, because of the lower compliance costs. Moreover, it is more likely that long-term investment is attracted. Заранее спасибо
|
