01750cas a2200253 a 4500 AALejournalIMF013164 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475515411 1018-5941 BD-DhAAL BD-DhAAL Matheson, Thornton. Allocating Business Income between Capital and Labor under a Dual Income Tax : The Case of Iceland / Thornton Matheson, Pall Kollbeins. Washington, D.C. : International Monetary Fund, 2012. 1 online resource (27 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students In contrast to most Scandinavian countries, Iceland allocates the income of closely held businesses (CHBs) between capital and labor based on administratively set minimum wages rather than an imputed return to book assets.a This papera contrasts the relative tax burdens of the current minimum wage system with asset-based allocation methods, and finds that switching to an asset-based method could increase tax revenues from CHBs in a generally progressive manner.a Predictably, the shift would also raise the tax burden of skilled labor-intensive industries more than it would that of capital-intensive industries. Mode of access: Internet Kollbeins, Pall. IMF Working Papers; Working Paper ; No. 2012/263 Full text available on IMF http://elibrary.imf.org/view/journals/001/2012/263/001.2012.issue-263-en.xml IMF e-Library