COVID-19 and Inequality: The Urgent Need for Tax Expenditure Reform
Rita de la Feria and
Agustin Redonda | 24 November 2020
Blog,
Fiscal | Tags:
Covid-19,
Inequality,
Tax Expenditures,
Tax Reform The economic impact of COVID-19 is both unprecedented and far-reaching. There is now little doubt that the pandemic will disproportionally hit the worse-off, hence exacerbating inequality. It is also clear that the pandemic is particularly affecting groups and sectors that were already under significant stress
... continue reading
Tackling Inequality Through Tax Expenditure Reform
Agustin Redonda and
Rita de la Feria | 24 September 2020
Fiscal,
Policy Briefs | Tags:
G20,
Inequality,
Tax Expenditures,
VAT Inequality endangers social cohesion and hampers economic growth, and as a consequence of the COVID-19 pandemic, inequality is set to increase. Hence, the commitment of the Group of Twenty (G20) to address inequality in the context of the Sustainable Development Goals (SDGs) is arguably more
... continue reading
Trade Implications of Tax Expenditures
Agustin Redonda,
Irma Mosquera Valderrama,
Gilles Carbonnier,
Robert Koopman,
Rahul Mehrotra and
Facundo Calvo | 15 September 2020
Fiscal,
Policy Briefs,
Trade | Tags:
Carbon Tax,
Digitalization,
Illicit Financial Flows,
Tax Competition,
Tax Expenditures International trade and taxation are inextricably linked and have been high-priority issues within the Group of Twenty (G20) agenda. However, the interconnections between international trade and tax expenditures—that is, benefits granted through preferential tax treatment—have been overlooked. This brief calls for a better design of
... continue reading
Worthy Goals, Flawed Policies – Why Increasing Tax Deductions for Parents Can be Wrong
Agustin Redonda | 4 September 2020
Blog,
Fiscal | Tags:
Inequality,
Tax Expenditures Tax expenditures (TEs) – also called tax benefits, tax reliefs, or simply tax subsidies – are used widely to pursue different policy objectives, e.g. boosting innovation and R&D, attracting investment and reducing poverty. Governments worldwide forego significant amounts of revenues through the implementation of these
... continue reading
COVID-19 and Seizing the Opportunity for Reforming Tax Expenditures in Africa
Agustin Redonda and
Sanjeev Gupta | 27 July 2020
Blog,
Fiscal | Tags:
Covid-19,
Domestic Revenue Mobilization,
Tax Expenditures The resources needed for financing the Sustainable Development Goals (SDGs) are estimated at USD 2.5 – 3 trillion per year. According to the IMF, low-income countries (LIC) will need, on average, additional resources amounting to 15.4% of GDP to finance the SDGs in education, health,
... continue reading