World Bank: Conference looks at implementation of new tax instruments
On 1 October 2021 the second day of the Third World Bank Tax Conference looked at the practical implementation of new tax instruments. Sugar tax in South Africa The sugar-sweetened beverage tax in South Africa was first announced in the 2016
See MoreWorld Bank: Third Tax Conference Discusses Environmental Taxes
The first day of the Third World Bank Tax Conference on 30 September 2021 included a session on environmental taxes, focusing on carbon pricing and carbon taxes. Some issues raised in the discussion are summarised below. Carbon rebate
See MoreEU: Proposed carbon border tax criticised by BRICS countries
On 27 August 2021 a virtual BRICS ministerial meeting on the environment stated its joint opposition to the EU’s proposed carbon border adjustment mechanism and referred to it as discriminatory. The BRICS countries – Brazil, Russia, India,
See MoreUK: Survey Indicates Businesses are Unprepared for Plastic Packaging Tax
A study conducted by the waste management company Veolia on preparation for the plastic packaging tax has found that more than 80% of the businesses taking part in the survey were not aware that the tax is being introduced. The plastic packaging
See MoreUK: Modernisation of Stamp Taxes on Shares
On 20 July 2021 the UK government published a summary of the responses to the consultation document on the modernisation of stamp taxes on shares. The government had issued a call for evidence on the principles and design of a new stamp duty and
See MoreTurkey extends the effective time of 0% entertainment tax rates
On 13 July 2021, the Turkish Revenue Administration has issued Presidential Decision No. 4273 regarding the entertainment tax rates applied for showing domestic and foreign films. The Decision extends the effective time of 0% entertainment tax
See MoreOECD: Communique Issued by the Meeting of G20 Finance Ministers
Following the meeting of the G20 finance ministers and central bank governors on 9 and 10 July 2021 a communiqué was issued summarising the issues discussed. The communiqué noted that the global outlook has further improved since the previous
See MoreOECD: Tax Report to G20 Finance Ministers and Central Bank Governors
The OECD Secretary-General has prepared a tax report for the July 2021 meeting of the G20 Finance Ministers and Central Bank Governors. Tax challenges of the digital economy On 1 July 2021 the OECD issued a Statement on the tax challenges of
See MoreEU: Annual Report on Taxation 2021
On 18 May 2021 the European Union (EU) published the Annual Report on Taxation 2021 assessing progress made by EU Member States in aligning their tax policies with the EU’s tax priorities to promote innovation and productivity, encourage
See MoreEU: European Commission sets out future agenda for business taxation
On 18 May 2021 the European Commission adopted a Communication on Business Taxation for the 21st Century setting out its vision for supporting business during the economic recovery and achieving fairer taxation. Ensuring effective
See MoreOECD: Tax policy study on inheritance tax
On 11 May 2021 the OECD published a tax policy study entitled Inheritance Tax in OECD Countries. The OECD study notes that inheritance taxation can be used as a measure to address inequalities and this is especially importance in the present
See MoreIMF: A Post-Pandemic Assessment of the Sustainable Development Goals
An IMF discussion note published on 29 April 2021 entitled A Post-Pandemic Assessment of the Sustainable Development Goals, written by Dora Benedek, Edward Gemayel, Abdelhak Senhadji, and Alexander Tieman, looked at a framework for developing
See MoreIMF: Report looks at fiscal policy in Hungary
On 3 May 2021 the IMF issued a concluding statement following a consultation with Hungary under Article IV of the IMF’s articles of agreement. Following a 5% contraction in output during the pandemic in 2020 the economy is expected to recover
See MoreOECD: Revenue Statistics for Latin America and the Caribbean 2021
On 22 April 2021 the OECD published Revenue Statistics in Latin America and the Caribbean 2021 . This is a joint publication of the OECD with the Inter-American Center of Tax Administrations (CIAT), the Economic Commission for Latin America and the
See MoreOECD: Taxing Wages 2021
On 29 April 2021 the OECD issued the annual publication Taxing Wages 2021. This publication sets out details of taxes paid on wages in the OECD countries, covering personal income taxes and social security contributions paid by employees; social
See MoreUN: Tax Committee Approves Handbook on Carbon Taxation for Developing Countries
The twenty-second session of the UN Committee of Experts on International Cooperation in Tax Matters, held from 19 to 28 April 2021 has approved the final chapters of the Handbook on Carbon Taxation for Developing Countries. The whole publication
See MoreOECD: Tax Policy Reforms 2021
On 21 April 2021, the OECD published Tax Policy Reforms 2021 giving an overview of the tax policy of around 70 jurisdictions, including the OECD and G20 countries and some members of the Inclusive Framework on base erosion and profit shifting
See MoreOECD: Policies for a Climate Neutral Industry
On 15 April 2021 the OECD issued a Science, Technology and Industry Working Paper looking at lessons to be learned from the Netherlands on policies for a climate neutral industry. The approach taken by the Netherlands combines a commitment to
See More