Tax simulator for the valuation of investment and financing decisions in the business

The aim of this paper is to develop a basic topic in economics, such as investment and business financing decisions, taking into account the incidence of taxes in force in Spain, and open to other variations that may be carried out in the tax laws. The main contribution of the paper is a fiscal simulator that will help to approach the knowledge of the incidence of taxes in these decisions. In the paper, we will start by presenting a basic model in which we will support our analysis, then we will present a fiscal simulator, that will allow to assess the incidence in the various fiscal incentives, in order to get the most advantageous result, and finally propose a practical exercise that the students can perform using the simulator, accessible at the following address: http://www.unizar.es/econ_aplicada/fiscalidad/simuladores.htm. The paper will be useful for teachers and students both in the branchs of Economics and Business, and especially in issues of public economics, general economics, business economics and business finance.