Further fiscal easing in late 2008 and early 2009 contributed to a markedly widening fiscal deficit in 2010. A newly enacted fiscal rule will help bring public finances back to a sustainable path, as discussed in this working paper.
In 2008, the Czech government implemented a major overhaul of the personal income tax (PIT), replacing the previous progressive rate schedule with a single 15% rate levied on an enlarged base.
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The world is recovering from the worst crisis since the Great Depression, leaving a strong and lasting impact on Member countries’ public finances...
Central banks have responded with exceptional vigour to the crisis by using their traditional interest-rate tools to their limits and deploying a wide range of unconventional measures.
The world is recovering from the worst crisis since the Great Depression, leaving a strong and lasting impact on Member countries’ public finances. This paper analyses how sub-central governments are affected and how fiscal policy has reacted in the first months after the outbreak of the crisis.
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El presente informe describe los progresos realizados desde 2006 en el establecimiento de bases de datos estadísticas sobre autonomía tributaria y transferencias intergubernamentales, con el objetivo de entender mejor la financiación subcentral y las relaciones fiscales intergubernamentales. El informe sedivide en dos partes: una primera parte trata sobre el poder tributario de los gobiernos subcentrales y una segunda parte sobre las
This paper considers the role of the automobile industry in the current cycle. It shows that the industry is economically important and its cycle is intertwined with business cycles.
In September 2009, the OECD released for public comment a proposed revision of Chapters I-III of itsTransfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. The comments recieved have now been published.
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Normative principles provide a relatively clear set of rules for the balance between grants and taxes in the composition of SCGs’ revenues, but in practice, a variety of types of tax-grant systems are observed in OECD countries, which do not all follow these rules.
Individual elements in the Belgian tax system affect the growth process through different channels and to a varying degree.