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The tax system is relying too much on relatively growth distorting taxes. Despite reforms, labour taxation continues to contribute to substantial labour market traps while corporate tax rates are relatively high. Moreover, most tax bases are narrowed by numerous exemptions and reductions.
Austria entered the most severe recession in decades. This triggered prompt policy measures to stabilise the real economy and financial markets, which will deteriorate significantly the fiscal position.
As in most other OECD countries, the fiscal situation in the UK has deteriorated sharply. While to date the discretionary fiscal stimulus has been relatively modest, after around the turn of the century the underlying fiscal position weakened more than anticipated. While there was some subsequent improvement, particularly in tax receipts, the severe impact of the downturn on the public finances and the borrowing related to the rescue
Italy is suffering a serious economic recession, which started earlier than elsewhere but has now accelerated following the downturn elsewhere and collapse in world trade.
The costs of the recession and ageing are a challenge to fiscal sustainability. The estimated fiscal sustainability gap has increased from 3 to 8% of GDP due to a sizeable permanent stimulus and lower potential output. A consolidation plan should be articulated now...
3-April-2009
English, , 245kb
Fiscal equalisation is a transfer of fiscal resources across jurisdictions to offset disparities in revenue raising capacity or public service cost. It covers on average 2.5% of GDP or 5% of total government expenditure across OECD countries.
3-April-2009
English, , 830kb
Fiscal equalisation is a transfer of fiscal resources across jurisdictions to offset disparities in revenue raising capacity or public service cost. It covers on average 2.5% of GDP or 5% of total government expenditure across OECD countries.
2-April-2009
English, , 1,338kb
This information note describes recent progress by revenue bodies in the development of more innovative or unusual risk treatment approaches to address non-compliance in the small and medium enterprise (SME) sector and provides examples of evaluation approaches adopted by agencies to measure the impacts and outcomes of these new treatment methods. While commenting on a range of non-compliance risk areas, it gives particular focus to
2-April-2009
English, , 2,565kb
This note is published in conjunction with the information note - Managing and Improving Compliance: Recent Developments in Risk Treatment and provides a catalogue of more innovative or unusual risk treatment approaches developed and applied by revenue bodies to address non-compliance in the small and medium enterprise (SME) sector.
10-March-2009
English, , 1,431kb
Against the background of a stronger need for reform in the wake of the crisis, this chapter assesses the progress that each country has made over the past five years in a broad range of structural policy areas where government action could boost long-term growth.
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