L’auteur de cette étude analyse les différentes règles relativement à l’amortissement accéléré dans les pays de l’OCDE et leur impact sur les investissements des entreprises. Une des principales conclusions de cette étude est que les pays devraient accorder des déductions pour amortissement plus élevées afin de stimuler les investissements des entreprises qui, à leur tour, stimulent la croissance économique.
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Capital cost recovery varies greatly across OECD countries, ranging from 100 percent in real terms in Chile, Estonia, and Latvia to only 49.6 percent in New Zealand and 58 percent in Colombia (covering industrial buildings, machinery, and intangibles). After years in which many OECD countries changed their capital allowances rules due to the pandemic, no major changes occurred in 2022. However, many of the temporary measures of accelerated depreciation will end in 2023.
On average, businesses in the OECD can recover 70.7 percent of the cost of capital investments in real terms. Investments in machinery enjoy the best treatment, with an OECD average of 87.2 percent, followed by intangibles (77.5 percent) and industrial buildings (50.7 percent). In 2000, businesses were able to recover on average 70.4 percent of capital investment costs in the OECD, followed by a gradual decline and then an increase beginning in 2018.
Inflationary pressures will decrease the value of capital cost allowances and thus increase the cost of new investments. For consistency, this report assumes an inflation rate of 2 percent, but such a low inflation rate is rare in the current economy. Mexico and Israel are currently the only OECD countries to adjust capital allowances for inflation.
Since 2000, statutory corporate income tax rates have declined significantly across the world and in OECD countries. However, as the average tax treatment of capital investments worsened for most of the last two decades, the benefits of lower statutory rates for investment and growth were partially offset. This broadening of tax bases through lower capital allowances is one of the reasons why corporate tax revenues had been growing or were stable around the world despite declining statutory rates.