VAT Bases in Europe
The extent to which businesses and consumers will benefit from coronavirus relief measures like temporary VAT changes will depend on the VAT base.
2 min read
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How Healthy is Your State’s Rainy Day Fund?
Rainy day funds have increasingly emerged as a standard component of states’ budgeting toolkits. Economic cycles can have significant impacts on state revenue, but states can prepare for the inevitable downturns during good times by putting away money in a revenue stabilization fund.
2 min read
State and Local Funding Totals Under the CARES Act
State and local governments across the country split $150 billion in federal aid under a provision of the Coronavirus Aid, Relief and Economic Security (CARES) Act, passed on March 30th.
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New Jersey Waives Telework Nexus During COVID-19 Crisis
New Jersey is temporarily waiving corporate nexus arising from employees teleworking due to the COVID-19 pandemic—a response to the crisis that other states should follow.
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Congress Approves Economic Relief Plan for Individuals and Businesses
The CARES Act, now signed into law, is intended to be a third round of federal government support in the wake of the coronavirus public health crisis and associated economic fallout, following the $8.3 billion in public health support passed two weeks ago and the Families First Coronavirus Response Act.
10 min read
Spain’s COVID-19 Economic Response
Spain’s policy response needs to be broad and in keeping with long-term objectives. It is paramount that the short-term harm caused by this outbreak does not turn into a long-term economic downturn.
5 min read
Evaluating the Trade-offs of Unemployment Compensation Changes in the CARES Act
Policymakers must weigh the trade-offs of subsidizing unemployment with mitigating community spread of coronavirus.
6 min read
India Pushes Digital Taxes in a Difficult Time
Even during the coronavirus outbreak, efforts to change the way digital business models are taxed continue. India announced this week that its tax aimed at foreign digital companies, the “equalization levy,” will be expanded.
4 min read
Denmark Unplugs the Economy
Denmark, a high-tax country with 5.5 million citizens, has implemented policies designed to avoid layoffs and bankruptcies and basically unplug the economy during the pandemic.
4 min read
VAT Exemption Thresholds in Europe
Due to certain VAT exemption thresholds, many small businesses will not be able to benefit from the VAT changes being introduced throughout Europe to provide relief during the COVID-19 crisis.
2 min read
A German Export for Times of Crises: The Short-Time Work Scheme
One of the most talked about government economic responses to the COVID-19 crisis is Germany’s Kurzarbeit: the German short-work subsidy scheme.
3 min read
State Aid Provisions of the Federal Coronavirus Response Bill
To be eligible for federal funding, state expenditures must meet certain conditions. We break down the state aid coronavirus provisions in the latest federal bill.
5 min read
Working from Home Brings Greater Exposure to State Tax Codes
During the present crisis, remote work has become a necessity for many people. The tax implications, however, are very real and potentially quite complex.
7 min read
Tracking Economic Relief Plans Around the World during the Coronavirus Outbreak
Countries around the world are implementing emergency tax measures to support their economies under the coronavirus (COVID-19) threat.
51 min read
Norway Opens the Fiscal Toolbox
Norway passed a large coronavirus tax relief package to address layoffs and bankruptcies, which includes a reduced VAT rate, the introduction of a loss carryback provision, and targeted postponements for wealth tax payments, among other provisions.
5 min read
Review and Analysis of House Democrats Coronavirus Response Bill
The proposed Take Responsibility for Workers and Families Act can be contrasted with the Senate Republican CARES Act, although they share some similarities by providing individual taxpayers with a rebate and modifying business tax provisions to provide liquidity for struggling firms.
5 min read
What Should Coronavirus Response Legislation Look Like?
As lawmakers debate how to respond to the coronavirus crisis, they should focus the legislative response to the emergency at hand, using principled policy solutions to provide relief to those affected. Attempts to use the crisis to make other, unrelated policy changes should be avoided.
3 min read
Economic Relief Plans Around the World During the Coronavirus Outbreak
Countries around the world are implementing emergency tax measures to support their debilitated economies under the coronavirus (COVID-19) threat.
7 min read
Are States Prepared for Skyrocketing Unemployment Insurance Claims?
Unemployment claims are going to tax state unemployment compensation trust funds beyond their limits. We need to start thinking about what to do about it.
5 min read
States Should Follow Federal Lead in Postponing Tax Day
The federal government moved tax day from April 15 to July 15 in response to the coronavirus pandemic, granting more time for both filing and payment. But for many taxpayers, it might not matter much if states don’t follow suit.
3 min read