Note sur divers procédés d'incitation fiscale à l'investissement

[eng] new technique of stimulating investment by tax relief is developing It is still an unsettled technique The means it utilizes are first defined then its efficiency is questioned finally some suggestions are made on hrtw it might be improved It originates from the depreciation allowances Its main weapons ire the initial allowances and the investment allowances These and other devices are examined in order to ascertain the nature of the advantages granted to the investing firm It is shown that these incentives may be weak or may not work The main difficulty involved liowever is that if they work the process they will start is often not self-regulating one The very efficiency of the measures adopted may force their removal when there is an inflationary pressure An unstable legislation is not well fitted to encourago the adoption of important investment projects which must be decided long before they are implemented Investment allowances might be more efficient if they were restricted to net investment The difficulty of ensuring the maintenance of provisions encouraging investment by tax relief would be reduced by resorting to flexible tax incentives to saving