The role of taxation in promoting economic recovery has attracted great-er attention in recent years,with economic dislocation following the Global Financial Crisis and the COVID-19 pandemic.While taxation is only one...The role of taxation in promoting economic recovery has attracted great-er attention in recent years,with economic dislocation following the Global Financial Crisis and the COVID-19 pandemic.While taxation is only one of the factors impacting economic recovery,both economic literature and practical experience show that tax policy can contribute to enhanced growth and therefore greater economic activity.Tax instruments used as a means for promoting economic recovery include tax holidays,preferential tax rates,investment allowances,tax credits and special economic zones.However,there are a range of constraints over tax incentive design imposed by bodies such as the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting,the Forum on Harmful Tax Practices of the OECD and the Code of Conduct on Business Taxation of the European Union.Given the above,this paper sets out practical issues to inform governments seeking to promote economic activity through taxation.展开更多
The World Bank Group’s Paying Taxes survey has consistently ranked the UK within the top quintile of global tax administrations.In 2015,the UK embarked on the biggest modernization of its tax administration in a gene...The World Bank Group’s Paying Taxes survey has consistently ranked the UK within the top quintile of global tax administrations.In 2015,the UK embarked on the biggest modernization of its tax administration in a generation.The programme has delivered major achievements,even while pushing the limits of HMRC’s technology and capacity.A central reform has been the digitalisation of tax administration,known as"Making Tax Digital".The reform process has coincided with two major external events—the UK’s exit from the European Union and the response to COVID-19,requiring HMRC to deliver employment support schemes as well as manage an orderly UK exit from the European Union.The UK Government is now taking this reform process further and has set out a 10-year vision.It sees real-time information as being at the core of an effective and modern tax system.It wants people and businesses to be able to pay the right tax as they live their lives and go about their business.展开更多
文摘The role of taxation in promoting economic recovery has attracted great-er attention in recent years,with economic dislocation following the Global Financial Crisis and the COVID-19 pandemic.While taxation is only one of the factors impacting economic recovery,both economic literature and practical experience show that tax policy can contribute to enhanced growth and therefore greater economic activity.Tax instruments used as a means for promoting economic recovery include tax holidays,preferential tax rates,investment allowances,tax credits and special economic zones.However,there are a range of constraints over tax incentive design imposed by bodies such as the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting,the Forum on Harmful Tax Practices of the OECD and the Code of Conduct on Business Taxation of the European Union.Given the above,this paper sets out practical issues to inform governments seeking to promote economic activity through taxation.
文摘The World Bank Group’s Paying Taxes survey has consistently ranked the UK within the top quintile of global tax administrations.In 2015,the UK embarked on the biggest modernization of its tax administration in a generation.The programme has delivered major achievements,even while pushing the limits of HMRC’s technology and capacity.A central reform has been the digitalisation of tax administration,known as"Making Tax Digital".The reform process has coincided with two major external events—the UK’s exit from the European Union and the response to COVID-19,requiring HMRC to deliver employment support schemes as well as manage an orderly UK exit from the European Union.The UK Government is now taking this reform process further and has set out a 10-year vision.It sees real-time information as being at the core of an effective and modern tax system.It wants people and businesses to be able to pay the right tax as they live their lives and go about their business.
