The variety of approaches to taxation among European countries creates a need to evaluate these systems relative to each other. For that purpose, we have developed the European Tax Policy Scorecard—a relative comparison of European countries’ tax systems.
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Compromising on the timing and availability of expensing—or offsetting the revenue losses by worsening other parts of the tax code—would squander an opportunity to craft a fiscally responsible, pro-growth tax reform.
Ahead of Germany’s federal election, the country’s economy remains stuck in a prolonged recession, with GDP stagnating for the past two years and failing to surpass its pre-pandemic level.
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Rather than hurting foreign exporters, the economic evidence shows American firms and consumers were hardest hit by tariffs imposed during President Trump’s first-term.
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Individual income taxes are a major source of state government revenue, accounting for more than a third of state tax collections. How do income taxes compare in your state?
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If Republicans want a successful year for tax reform, they must put aside the extensive demands for niche provisions and, instead, approach this debate with a principles-first mindset.
The House Budget Committee has released a budget resolution that specifies large reductions in both taxes and spending over the next decade, paving the way to extend the expiring provisions of the Tax Cuts and Jobs Act (TCJA) and potentially cut other taxes.
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The Trump administration appears to be moving in a “reciprocal” policy direction despite the significant negative economic consequences for American consumers of across-the-board tariffs on goods coming into the US. However, the EU’s VAT system should not be used as a justification for retaliatory tariffs.
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As Kansas policymakers consider ways to provide long-term property tax relief, a well-structured, exemption-free levy limit would be a structurally sound and effective reform to consider.
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Denmark (55.9 percent), France (55.4 percent), and Austria (55 percent) levy the highest top personal income tax rates in Europe.
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While many Scandinavians get mailed comprehensive pre-filled tax returns and only have to check whether they are correct, the average German taxpayer spends 9 to 10 hours and over €100 filing their tax return.
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As Republicans look for ways to offset the budgetary cost of extending the expiring provisions of the Tax Cuts and Jobs Act (TCJA) and potentially enacting other tax cuts, the latest estimates indicate several trillion dollars could be raised by reducing tax credits and other preferences in the tax code.
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A recent poll from the Tax Foundation found that most American taxpayers—regardless of age, education, or income level—do not understand basic income tax filing concepts.
Retail sales taxes are an essential part of most states’ revenue toolkits, responsible for 24 percent of combined state and local tax collections.
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In a recent survey regarding companies’ barriers to conducting business in the EU single market, VAT ranked first. Policymakers should invest in reforming VAT systems to close both compliance and policy gaps in ways that improve the overall efficiency of their tax systems.
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As the third-largest economy in the world, with an influential voice within EU policymaking, and the United States among its most important trading partners, Germany’s next government will play a particularly important role in deciding the direction of European tax, trade, and transatlantic policy.
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If Republicans want to pursue this policy, they’ll need to answer some questions about what Trump’s promise means. And they’ll need to be careful that the idea doesn’t turn into a budget-buster.
As a rule, an individual’s income can be taxed both by the state in which the taxpayer resides and by the state in which the taxpayer’s income is earned.
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In a recent speech at the Davos Economic Forum, European Commission President Ursula von der Leyen announced plans to create a single set of rules for corporate law, insolvency, labor law, and taxation, under which companies could seamlessly operate across the European Single Market.
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As lawmakers work through the reconciliation process, permanently enacting improvements to deductions for capital investment and research and development (R&D) costs will create an economically powerful package.
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