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Average Tax Rate

Apportionment

After-Tax Income

Adjusted Gross Income (AGI)

Marginal Tax Rate

Tax Credit

Taxable Income

Alternative Minimum Tax (AMT)

Revenue Gains in Asian and Pacific Countries Likely Offset by COVID-19

Because of the COVID-19 pandemic and the associated economic crisis, countries in the Asia-Pacific region will see a differentiated impact on their capacity of mobilizing domestic revenue depending on the structure of their economy. According to the OECD report, those economies that rely mostly on natural resources, tourism, and trade taxes are especially vulnerable.

New York and New Jersey Consider Financial Transaction Taxes

Seeking new sources of funding, New York and New Jersey—two states at the heart of global financial markets—are considering financial transaction taxes.