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BItNotes n°10

BItNotes n°10
"Taxation and development of equity market for mid small companies"
L.Gandullia - February 2004


The paper highlights the impact of taxation on the development of the equity market for mid small enterprises and the role of possible tax incentives in favour of the demand for equity. Addressing this issue the literature and international experiences often refer to the private equity sector; however, in the paper some important experiences (for instance, the UK) are reported, where the tax incentive schemes, even if designed in favour of the demand for private equity, are applied also to equity issued by companies, quoted on specific markets for risk capital. After having discussed possible relations between taxes and development of the equity market, the paper focuses on the role of tax incentives targeted to the demand for equity, showing possible schemes, effects and models used in the international experience. The paper ends with some remarks concerning the potential use of similar tax incentives in Italy.

        Click here to download the paper:  PDF (855kb) (available only in Italian)

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Last update:  December 23 2005 - 10:18
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