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global tax agreement global tax deal OECD global minimum tax rules corporate minimum tax rules Secretariat Proposal, OECD Public Consultation Document, Unified Approach under pillar one profit shifting definition tax planning and avoidance foreign direct investment FDI global tax deal impact of global tax agreement OECD international tax proposal

The Latest on the Global Tax Agreement

The agreement represents a major change for tax competition, and many countries will be rethinking their tax policies for multinationals.

8 min read
Puerto Rico Tax Competitiveness and Pillar Two Global Tax Deal

Puerto Rican Competitiveness and Pillar Two

Puerto Rico, a US territory with a limited ability to set its own tax policies, will be the first part of the US to be substantially affected by Pillar Two, the global tax agreement that seeks to establish a 15 percent minimum tax rate on corporate income.

17 min read

Tax Cuts vs. Tax Reform

Tax cuts vs. tax reform: what’s the real difference, and why does it matter?

Hungary EU presidency tax reform and tax policies

Tax Files under New Council of EU Presidency: Hungary

As Hungary takes over the six-month rotating presidency of the Council of the European Union in the aftermath of the European elections, the relationship between tax policy and Europe’s competitiveness will be closely linked.

6 min read
Full TCJA extension fiscal challenges highlighted by latest CBO projections

Latest CBO Projections Highlight Fiscal Challenge of Full TCJA Extension

While neither full expiration nor a deficit-financed full extension of the TCJA would be appropriate, lawmakers should consider the incentive effects of whichever tax reform they pursue. Because taxes affect the economy, they also affect the sustainability of debt reduction.

3 min read
The Impact of High Inflation on Tax Revenues across Europe

The Impact of High Inflation on Tax Revenues across Europe

The European Union’s experience with high inflation highlights the critical need for adaptive fiscal policies. Best practices drawn from the academic literature recommend implementing automatic adjustment mechanisms with a certain periodicity and based on price increases.

31 min read
UK full expensing and UK capital allowances tax reform and priorities

Understanding Full Expensing in the United Kingdom

Given the positive contribution of full expensing to economic growth and that the UK already incurred the peak-year costs due to the existing policy, it is imperative to maintain it permanently.

5 min read
Carbon taxes in Europe 2024 data map

Carbon Taxes in Europe, 2024

23 European countries have implemented carbon taxes, ranging from less than €1 per metric ton of carbon emissions in Ukraine to more than €100 in Sweden, Liechtenstein, and Switzerland.

3 min read
Tax Burden on Labor in Europe 2024 taxing wages tax wedge

Tax Burden on Labor in Europe, 2024

To make the taxation of labor more efficient, policymakers should understand the inputs into the tax wedge, and taxpayers should understand how their tax burden funds government services.

4 min read
Corporate tax reform analysis including corporate tax hike economic growth impact

Tax Reform Offsets Shouldn’t Offset Economic Growth

Pro-growth tax reform that does not add to the deficit will require tough choices, but whether to raise the corporate tax rate is not one of them. If lawmakers want to craft fiscally responsible and pro-growth tax reform, a higher corporate tax rate simply does not fit into the puzzle.

3 min read
Digital services taxes in Europe by country 2024 digital taxes in Europe otherwise known as DSTs in Europe

Digital Services Taxes in Europe, 2024

About half of all European OECD countries have either announced, proposed, or implemented a DST. Because these taxes mainly impact U.S. companies and are thus perceived as discriminatory, the United States responded to the policies with retaliatory tariff threats, urging countries to abandon unilateral measures.

4 min read