Worthy Goals, Flawed Policies – Why Increasing Tax Deductions for Parents Can be Wrong
Agustin Redonda | 4 September 2020
Fiscal,
Blog | 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
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COVID-19 and Seizing the Opportunity for Reforming Tax Expenditures in Africa
Agustin Redonda and
Sanjeev Gupta | 27 July 2020
Fiscal,
Blog | 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,
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The Transition to a Sustainable Post-COVID Economy Requires an Urgent Shift in Central Bank Risk Management
Pierre Monnin | 10 July 2020
Monetary,
Blog | Tags:
Central Banks,
Climate Risk,
Covid-19,
Financial Regulation,
Monetary Policy Operations,
Precautionary principle
The COVID-19 crisis is profoundly and durably transforming our economies. So will the transition to a low-carbon economy, which is necessary to contain the environmental crisis ahead of us. Shifting our economic system from its current state to a sustainable post-COVID version entails large and
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Supporting Households with Tax Expenditures in Times of COVID-19
Agustin Redonda | 3 July 2020
Blog,
Publications | Tags:
Covid-19,
Informality,
Sustainable Development,
Tax Expenditures
The economic shock triggered by the current pandemic is unprecedented. The number of victims of COVID-19 has already hit half a million and continues to rise. At the same time, the impact on economic output is massive. According to recent OECD estimates, global economic activity
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Tax Expenditures and Inequality
Agustin Redonda | 16 June 2020
Fiscal,
Discussion Notes | Tags:
Inequality,
Sustainable Development,
Tax Expenditures
Tax expenditures are used widely by governments across the world to pursue different public policy goals including boosting innovation and R&D, job creation, greening the economy as well as mitigating inequality and tackling poverty. Yet, besides their stated goals (which are often aligned with a
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Avoiding Mining Tax Relief Pitfalls During a Crisis
Alexandra Readhead | 22 May 2020
Fiscal,
Blog | Tags:
Covid-19,
Mining,
Tax Expenditures,
Taxes
Establishing effective tax policy for the mining sector can be a challenge in the best of times, especially for resource-rich developing countries which may lack sector-specific experience and technical capacity. Under the pressure of a crisis, it is critical for countries to steer clear of
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The Day After Tomorrow. Designing COVID-19 Bailouts for a Sustainable Recovery
Agustin Redonda | 4 May 2020
Fiscal,
Monetary,
Blog | Tags:
Bailouts,
Climate Change,
Covid-19,
Employment,
Inequality
Governments around the world are taking extraordinary measures to mitigate the economic fallout of COVID-19. Their decisions in the weeks and months ahead will shape our lives for years to come. The fiscal packages that are being adopted as well as the funding that central
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Bail, or Bailout? Tax Experts Publish 5-Step Test for Covid19 Business Bailouts
Moran Harari and
Mark Bou Mansour | 27 April 2020
Fiscal,
Blog | Tags:
Bailouts,
Covid-19,
Tax Avoidance
Following bans from Denmark, Poland and Argentina on companies registered in tax havens from receiving Covid19 bailouts[1], the Tax Justice Network has published a “bail or bailout” test to clarify uncertainty on how governments can determine which companies are discreetly using tax havens to pay
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Is the United States Reneging on International Financial Standards?
Nicolas Véron | 20 April 2020
Monetary,
Blog | Tags:
Covid-19,
Debt,
Federal Reserve,
Financial Regulation
The financial shock surrounding the COVID-19 pandemic has prompted the Federal Reserve to temporarily loosen an important capital-to-asset ratio requirement for US banks. In so doing, it is walking away from a decade-long commitment to global financial reforms forged in the wake of the global
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Argentina. A Short Blanket for the Coronavirus Long Night
Agustin Redonda and
José Siaba Serrate | 3 April 2020
Fiscal,
Monetary,
Blog | Tags:
Central Banks,
Covid-19,
Fiscal Space,
Health,
Inflation,
Informality
The coronavirus has arrived, and Argentina has played its cards. First life, then the economy.
While it is non-debatable that the consequences of the pandemic will be enormous throughout the world, the magnitude of the impact is still uncertain. Argentina is a special case on three
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