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Given the current high levels of budget deficits and government debt, Governments recognize that they need to consolidate their budgets. Taxes can give rise to a multitude of disincentives to work, invest and innovate, with adverse effects on economic growth and welfare.
In the wake of the recent financial and economic crisis, how OECD countries can face the challenge of restoring public finances without jeopardising economic growth?
Many countries will likely face the need to increase tax revenues, as part of fiscal consolidation, during the next few years. But how is this best done? And what are the considerations when choosing between raising tax rates and broadening the tax base by scaling back or abolishing targeted tax provisions (such as allowances, exemptions and preferential rates)? This report aims to answer such questions by taking a close look at the
Given the current high levels of budget deficits and government debt, Governments recognize that they need to consolidate their budgets. Taxes can give rise to a multitude of disincentives to work, invest and innovate, with adverse effects on economic growth and welfare. But how can such distortions be minimised?
As part of its ongoing work on the mutual agreement procedure (MAP) under tax treaties, the OECD makes available to the public annual statistics on the MAP caseloads of member countries and of certain non-OECD economies. MAP statistics have now been released for 2008 and 2009.
Country Mutual Agreement Procedure Statistics for 2008 and 2009 Released
The process of fiscal consolidation and the need to step up the poor long term economic performance provide an opportunity to implement tax measures to improve efficiency and rebalance the economy.
Large shifts in countries’ external current account positions can be disruptive, often reflecting sudden stops in the flows of external finance and leading to exchange rate and banking crises.
English, , 546kb
This chapter discusses the size of current consolidation requirements and the pace at which budget positions should be strengthened in the context of a set of macroeconomic projections to 2025.
This report summarises the legal and regulatory framework for transparency and exchange of information for tax purposes in the Cayman Islands.