简述外文翻译.docVIP

　　简述外文翻译 简述外文翻译导读：ordingly,modelspttoanalyzetheeffectsoftaxationassumingrational,maximizingtaxpayersarketmaygivemisleadingresults.Afullanalysisoftaxavoidancecannotbeconductedmodel;transactionson tax avoidance schemes can be reinterpreted as making use of one or more of these principles. Four such methods are described .In a perfect capital market, these methods inate all taxation on capital ine. The fact that the tax system raises revenue is attributed to lack of astuteness of the taxpayer and/or lack of perfection of the capital market. Accordingly, models pt to analyze the effects of taxation assuming rational, maximizing taxpayers arket may give misleading results. A full analysis of tax avoidance cannot be conducted model; transactions ay at the same time increase anothers. any transactions, to reduce the tax liabilities to some parties to the transaction, increase those of others. Because ;prices; (the terms of the transaction) adjust to reflect these changed tax liabilities, it is often difficult to ascertain many tax avoidance—schemes. Moreover, the aggregate loss to the Treasury may be much less than the seeming gain to the alleged beneficiaries ( effects of tax avoidance schemes). Thus, analysis of tax avoidance (Sections I—III) e of the more important general equilibrium effects (Section IV). Some implications of our analysis for tax reform are provided in Section V. 1.3 Conclusions ost of at least the mon tax avoidance schemes can be reinterpreted as making use of one or more of these principles. In a perfect capital market, these principles of tax avoidance are so poinate all taxation on capital ine, and possibily all taxation on raises revenue is thus a tribute to the lack of astuteness of the tax payer and/or 5 6 7 8 简述外文翻译(2)导读：hattempttoanalyzetheeffectsoftaxationassumingrational,maximizingtaxpayersarket.Some(perhapsmost)oftheimperfectionsofthecapitalmarketareattributabletoimperfections(includingasymmetries)ofinformation.Ineconomiesperfecti