IMF Blog Looks at Securing a Green Recovery

16 April, 2021

In an IMF blog post of 15 April 2021 the IMF Director General looks at policies to secure a green recovery. The blog notes that following the period of disruption due to the pandemic a few economies, led by the United States and China, are

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UN: Meeting of Committee of Tax Experts

15 April, 2021

On 19 to 28 April 2021 the twenty-second session of the UN Committee of Experts on International Cooperation in Tax Matters will be held in a series of virtual meetings. UN Model Treaty – Revised Royalty definition The Committee will

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EU: BASIC countries express concern at the proposed Carbon Border Adjustment Mechanism

11 April, 2021

A Joint Statement issued on 8 April 2021 at the conclusion of the 30th BASIC Ministerial Meeting on Climate Change has expressed concern about the insufficiency and inadequacy of the support provided by developed countries; and is concerned that

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UK: Consultation on securitisation tax regime

26 March, 2021

On 23 March 2021 the UK government issued a consultation paper on the reform of the taxation of securitisation companies. Securitisation is used for the purpose of raising finance on the capital markets through the issue of asset-backed

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IMF Report Recommends Further Tax Measures for Luxembourg

18 March, 2021

On 15 March 2021 IMF staff issued a concluding statement following discussions under Article IV of the IMF’s articles of agreement. Luxembourg’s economy has come through the pandemic well so far, owing to effective policy measures and

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IMF: Analysis of Fiscal Measures to Reduce US Emissions

14 March, 2021

An IMF blog of 10 March 2021 entitled A New Vision for the US Climate Agenda looks at fiscal actions that would help curb emissions. The US climate plan aims for US carbon neutrality by 2050, achieved by public funding for clean energy

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OECD: Report to the Meeting of G20 Finance Ministers

06 March, 2021

The OECD has published on its website the report prepared for the meeting of G20 Finance Ministers and Central Bank Governors held on 27 February 2021. Taxation of the Digital Economy Unless an international consensus solution is found for

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IMF: Economic Outlook in Sweden

11 February, 2021

On 2 February 2021 the IMF issued a report following discussions with Sweden in relation to article IV of the IMF’s articles of agreement. Sweden has been hit hard by the pandemic but has introduced effective support measures for individuals

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OECD: Use of Energy Taxes to Strengthen Developing Country Finances

04 February, 2021

On 25 January 2021 the OECD issued a document entitled Taxing Energy Use for Sustainable Development: Opportunities for energy tax and subsidy reforms in selected developing and emerging economies. The report looks at energy taxation in a sample

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Nigeria: President signs the Finance Bill 2020 into Law

13 January, 2021

On 31 December 2020, the President, Muhammad Buhari, signed the Finance Bill 2020 and made it into law, which introduces significant changes to a number of tax and regulatory laws in Nigeria including the introduction of COVID-19 incentives

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UK: Report of the Wealth Tax Commission

05 January, 2021

On 14 December 2020 the Wealth Tax Commission issued a report outlining its conclusions on the design of a wealth tax for the UK. The report covers one-off and annual wealth taxes and makes recommendations on specific design of a tax in some cases.

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OECD: Revenue Statistics 2020

06 December, 2020

On 3 December 2020 the OECD released the annual Revenue Statistics publication with the results of a survey of OECD countries. The data indicates that the average tax to GDP ratio in the OECD countries surveyed fell slightly to 33.8% in

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OECD and IMF: Report on Analysis of Tax Expenditures in Chile

29 November, 2020

A report was issued on 23 November 2020 following a mission conducted by staff from the IMF and the OECD from April to October 2020. The main purpose was to provide technical support in relation to the methodology for reviewing Chile's tax

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UK: Draft Legislation on Plastic Packaging Tax

15 November, 2020

On 12 November 2020 the UK issued for consultation draft legislation to introduce a plastic packaging tax. The legislation when finalised would be included in the Finance Bill 2021 and the tax would be implemented from April 2022. The tax

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OECD: Combining Green Budgeting and Tax Policy Tools

06 November, 2020

An OECD Environment Focus published on the website on 29 October 2020 looked at the use of a combination of green budgeting and environmental tax policy to bring about an improved economic recovery after the pandemic. The OECD note referred to a

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OECD: Ageing and Fiscal Challenges Across Levels of Government

27 October, 2020

A paper contributing to OECD Fiscal Federalism Studies published on 27 October 2020 looks at the fiscal challenges across levels of government resulting from an ageing population. Personal Tax Revenue and an Ageing Population Some tax systems

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Malta: Finance Minister presents Budget for 2020

25 October, 2020

On 19 October 2020, the Minister for Finance, Edward Scicluna presented the Budget for 2021 to the Parliament. The budget has no tax increases. The key measures regarding tax and incentives are as follows: The tax refund check will be

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OECD: Economic Survey of UK

25 October, 2020

On 14 October 2020 the OECD published on its website its economic survey of the UK. The outlook for the UK is uncertain with the combination of Brexit and the COVID-19 crisis. Since July 2020 the UK has begun a new phase of support for business

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