Commentary Type

Taxes, Incentives, and the Exchange Rate in the Destination-Based Cash-Flow Tax System with a Border Adjustment Tax

Sherman Robinson (PIIE) and Karen Thierfelder (US Naval Academy)


Introducing a destination-based cash-flow tax (DBCFT) in the United States would dramatically change the tax base for businesses. Depending on how it is implemented, it could also affect prices, wages, and the exchange rate.

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