Tax Incentives and Corporate Taxation
Agustin Redonda | 11 July 2022
Fiscal,
Testimonies | Tags:
Corporate Taxes,
Tax Expenditures
Tax expenditures are benefits granted to specific sectors, activities or groups of taxpayers through preferential tax treatment; including exemptions, deductions, and lower tax rates.
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Fostering Global Cooperation
Henry Gao | 10 June 2022
Trade,
Blog | Tags:
Climate Change,
Digital Governance,
Trade Governance,
WTO
As the world enters 2022, the global trading system seems to be stuck in a deep crisis: the trade war between the US and China continues into another year with most of the additional tariffs staying in place and the only things missing are the
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From Dependencies to Environmental Risks for Finance. Taking Next Steps
Chiara Colesanti Senni and
Adrian von Jagow | 9 May 2022
Monetary,
Blog | Tags:
Central Banks,
Environmental Risks,
Financial Supervision
Climate-related risks are now widely recognized as a source of financial risks by financial supervisors and central banks worldwide. Estimates of transition risks, which include risks stemming from the transition to a low-carbon economy, have become more granular, thanks in part to improved data availability.
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How Much Revenue Does Kosovo Forgo Through Tax Expenditures? We don’t know!
Flurim Aliu | 21 April 2022
Fiscal,
Blog | Tags:
Tax Expenditures,
Transparency
The traditional way of thinking about how states finance projects is as follows: first, governments collect revenue (through taxes, borrowing, payments, and fines) and then this revenue is spent through the budget process.
However, governments may choose to support various economic sectors, activities, or groups of
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Is It Time to Rationalize Tax Expenditures?
Luisa Dressler,
Sanjeev Gupta,
Agustin Redonda and
Paolo de Renzio | 19 April 2022
Fiscal,
Blog | Tags:
Tax Expenditures,
Tax Reform
As developing countries recover from the pandemic, they will need to bring their public finances to a more sustainable position, by streamlining public spending and strengthening the revenue base. The need to mobilize additional resources has been exacerbated by the recent economic turmoil triggered by
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G7 Countries Must Urgently Phase Out Fossil Fuel Subsidies
Agustin Redonda,
Christian von Haldenwang and
Ronald Steenblik | 8 April 2022
Fiscal,
Policy Briefs | Tags:
Climate Change,
Fossil Fuel Subsidies
The world’s governments have pledged to fight climate change, yet many still subsidize fossil fuels, the combustion of which increases GHG emissions. Phasing out these subsidies is thus vital to combating climate change. What this Policy Brief proposes is that G7 Governments reaffirm their commitment
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A Dashboard for Biodiversity Risk Metrics
Oliver Braunschweig,
Chiara Colesanti Senni and
David Lunsford | 24 March 2022
Monetary,
Policy Briefs | Tags:
Biodiversity Risk,
Central Banks
This policy brief calls on central banks and financial supervisors to build and use a dashboard of biodiversity metrics to assess biodiversity risks in terms of both dependencies and impacts. In order for these metrics to become fully operational, they should cover risks for firms
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Monetary Policy Operations and Biodiversity Loss
Pierre Monnin | 24 March 2022
Monetary,
Policy Briefs | Tags:
Biodiversity Risk,
Central Banks,
Climate Change
Biodiversity is declining at unprecedented rates in human history, with growing evidence that this could have significant economic and financial implications. In this regard, biodiversity loss is very similar to climate change: both entail physical risks that could translate into substantial economic and financial losses,
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The Global Tax Deal and Tax Incentives: What if the Cure Is Worse Than the Disease?
Agustin Redonda | 18 March 2022
Fiscal,
Blog | Tags:
Minimum Tax Rate,
Tax Expenditures,
Tax Incentives
The global tax deal reached in October 2021 is a milestone in international tax coordination. With 137 out of 141 jurisdictions in the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) now participating in the agreement, there is no doubt about its significance.
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Cross-border Movement of People and Its Critical Role for Services Trade
Oliver Braunschweig and
Hildegunn Kyvik Nordås | 28 February 2022
Trade,
Blog | Tags:
Mode 4,
Services Trade,
WTO
The importance of cross-border movement of people for services trade and the functioning of global value chains has been amply demonstrated during the COVID-19 crisis. While in normal times – and during the financial crisis in 2008 – services trade has been less volatile than
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