A Framework for the Future: Reforming the UK Tax System
Our new guide identifies key areas for improvement in UK tax policy and provides recommendations that would support long-term growth without putting a dent in government revenues.
24 min readOur new guide identifies key areas for improvement in UK tax policy and provides recommendations that would support long-term growth without putting a dent in government revenues.
24 min readJust as COVID-19 is putting pressure on other sources of revenue, the loss of VAT revenues resulting from the crisis will force governments to evaluate their VAT systems.
3 min readBecause 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.
5 min readTax policy responses to the pandemic should be designed to provide immediate support while paving the way to recovery. A temporary VAT rate cut in the context of an inefficient VAT system is likely to deliver mixed results at best.
4 min readAlesina’s work suggests that raising taxes to reduce the federal deficit and national debt would be an economic mistake. The less economically damaging path is to cut spending, what some have called austerity policies.
3 min readLearn about how taxes can influence human behavior through the power of incentives. See how different tax policies have impacted everything around us, including the buildings we live in, the cars we drive, and even what we eat and wear. Gain a deeper appreciation for the importance of designing tax policies that encourage positive economic behaviors.
Discover the three basic tax types—taxes on what you earn, taxes on what you buy, and taxes on what you own. Learn about 12 specific taxes, four within each main category. Develop a basic understanding of how these taxes fit together, how they impact government revenues and the economy, and where you may encounter them in your daily life.
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 readDue 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 readNorway 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