Publications

It Takes Two to Tango: The Role of Ministries of Finance in Designing Pricing and Non-Pricing Climate Actions

 | 4 November 2024
Fiscal, Policy Briefs | Tags: Carbon Pricing, Energy, Fossil Fuel Subsidies, Renewables
This policy brief examines the recent emergence of climate policy packages and their impact on climate, social, financial, and fiscal outcomes. It also recommends steps that Ministries of Finance can take to better understand how to design coherent climate policy packages and facilitate the sharing ... continue reading

Financial Resilience in an Age of Environmental Change: Central Banks and Financial Regulators Feel the Heat

 | 16 October 2024
Monetary, Policy Briefs | Tags: Climate Risks, Financial Governance, Financial Supervision, Macroprudential Policy, Systemic Risks
In an era of chronic and acute disruptions, durable price and financial stability will require not just accounting for financial hazards, but also engaging in promoting a structural transition. With time running out and the world approaching critical ecological thresholds, central banks and financial regulators ... continue reading

Principles for Addressing Climate Systemic Risks with Capital Buffers

 and | 10 October 2024
Monetary, Policy Briefs | Tags: Central Banks, Climate Risks, Financial Stability, Financial Supervision, Macroprudential Policy, Systemic Risks
Some supervisors have started exploring and assessing the different macroprudential instruments available to address climate systemic risks. Systemic capital buffers emerge as one promising option among the different instruments in their toolkits. ... continue reading

Kenya’s Tax Expenditure Reports: A Comprehensive Review

 | 9 October 2024
Fiscal, Blog | Tags: Kenya, Tax Expenditures
In Kenya, the main objectives of tax expenditures are to spur economic growth, increase investment, create employment and lower the cost of living. Other than these objectives being defined too broadly to support meaningful evaluation of tax expenditures, the government does not link the reported ... continue reading

Tax Expenditures Country Report: India

 | 7 October 2024
Fiscal, Discussion Notes | Tags: GTED, GTETI, India, Tax Expenditures
India's tax landscape is intricate, with various direct and indirect taxes administered by different bodies, such as the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC). The introduction of the Goods and Services Tax (GST) in 2017 ... continue reading

Economic Policies for Affordable, Secure and Clean Energy: Insights from the UK

 and | 1 October 2024
Fiscal, Policy Briefs | Tags: Energy, Fossil Fuel Subsidies, Renewables, United Kingdom
Transitioning to a more affordable, secure and clean energy system is a key priority for the UK government. Elected in July 2024, the new government led by Prime Minister Keir Starmer aims at making the country a “clean energy superpower”. ... continue reading

Unlocking a Sustainable Energy Future: Key Insights from the UK

 and | 1 October 2024
Fiscal, Blog | Tags: Decarbonization, Energy, Fossil Fuel Subsidies, Industrial Policy, Renewables, United Kingdom
The United Kingdom has made considerable strides in transforming its energy system. Since the early 1970s, the nation has reduced its primary energy consumption by one-fifth, even as its real GDP has nearly tripled. While low-carbon energy sources were once almost non-existent, they now account ... continue reading

ATI, CEP and IDOS Initiate Community of Practice on Tax Expenditures

 | 26 September 2024
Fiscal, News | Tags: Tax Expenditures
The Community of Practice (CoP) on Tax Expenditures aspires to leverage the collective expertise of its members to enhance TE governance across ministries of finance, revenue administrations, parliaments, and beyond. This joint initiative will provide all attendees from ATI partner countries as well as other ... continue reading

Invisible Costs: The Transparency Gap in Japan’s Tax Benefits

 and | 20 September 2024
Fiscal, Blog | Tags: Japan, Tax Expenditures
Tax expenditures include tax credits, exemptions, deductions and other reductions in tax liabilities intended to promote specific policy goals. Japan stands out as one of only two G20 countries, alongside Saudi Arabia, that does not report the cost of such tax benefits in a comprehensive ... continue reading

How California Leaders Can Improve the Oversight and Evaluation of State Tax Expenditures

 | 6 September 2024
Fiscal, Blog | Tags: Parliaments, Tax Expenditures, United States
In California, tax expenditures — defined in state law as a “credit, deduction, exclusion, exemption, or any other tax benefit as provided for by the state” — represent a significant revenue cost to the state. In recent years, the estimated cost to the state’s General ... continue reading

Addressing Gender Disparities in Tax Expenditures

 , and | 3 September 2024
Fiscal, Blog | Tags: Gender, Inequality, Tax Expenditures
Understanding the interaction between tax expenditures and gender-based inequalities is essential to ensure that the tax system is fair and equitable – including gender equality in tax matters and the economy more broadly. ... continue reading

Rationalizing Fiscal Incentives in the Philippines: A Three-Decade Journey

 | 12 August 2024
Fiscal, Blog | Tags: Parliaments, Tax Expenditures, The Philippines
As governments around the globe seek to safeguard fiscal space, the question on whether the tax benefits they offer are effective, is becoming ever more critical. In the Philippines, the push for the rationalization of fiscal incentives dates back nearly thirty years... ... continue reading

Leapfrogging to a New Energy Future: Economic Policies for Affordable, Secure and Clean Energy in Ukraine

 and | 24 July 2024
Fiscal, Policy Briefs | Tags: Energy, Fossil Fuel Subsidies, Renewables, Ukraine
With well-designed reforms, international support, private investment – and, crucially, peace – Ukraine can leapfrog to a sustainable energy future. At present, decisionmakers in the energy sector are fighting day-to-day battles to keep the lights on and houses warm. Winning these daily battles and setting ... continue reading

Transition and Systemic Risk in the South African Banking Sector: Assessment and Macroprudential Options

 , and | 22 July 2024
Monetary, Research Papers | Tags: Central Banks, Climate Risks, Financial Stability, Macroprudential Policy, South Africa
This paper presents the main transition risks for the South African banking sector, highlighting that the coal value chain is central to these risks. It assesses the banking system’s exposure to transition risks in the corporate sector, showing that they are material and widespread. ... continue reading

Tax Expenditure Country Reports. Unveiling Tax Expenditures at the Country Level

 and | 9 July 2024
Fiscal, Blog | Tags: GTED, GTETI, Tax Expenditures
As shown by the Global Tax Expenditures Transparency Index (GTETI) the quality and scope of TE reporting is highly heterogeneous across jurisdictions, which makes cross-country comparability even trickier. The new series will promote deeper discussions of TE regimes, ultimately enhancing the quality and quantity of ... continue reading
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