The Challenges of Tax Reform in a Global Economy

The Challenges of Tax Reform in a Global Economy

This book presents 15 original papers and commentaries by a distinguished group of tax policy and tax administration experts.

Author: James Alm

Publisher: Springer Science & Business Media

ISBN: 0387299122

Category: Business & Economics

Page: 474

View: 952

This book presents 15 original papers and commentaries by a distinguished group of tax policy and tax administration experts. Using international examples, they highlight the state of knowledge of tax reform, present new thinking about the issue, and analyze useful policy options. The book’s general goal is to examine the current and emerging challenges facing tax reformers and to assess possible directions future reforms are likely to take. More specific themes include distributional issues, how to tax capital income, how to design specific taxes (e.g., the income tax, the value-added tax, the property tax), how to consider the politics and administrative aspects of tax reform, and how to combine the separate insights into comprehensive tax reform.
Categories: Business & Economics

Achieving Progressive Tax Reform in an Increasingly Global Economy

Achieving Progressive Tax Reform in an Increasingly Global Economy

"The progressive tax system, and the nation's fiscal system more boradly, have historically played an important role in expanding opportunities for all Americans while reducing inequality.

Author:

Publisher:

ISBN: OCLC:930714329

Category: Income tax

Page: 30

View: 259

"The progressive tax system, and the nation's fiscal system more boradly, have historically played an important role in expanding opportunities for all Americans while reducing inequality. But the same dynamic forces of technological change, financial innovation, and globalization that have contributed to rising income inequality also present new challenges for progressive taxation. Financial engineering, for example, has made it easier for the financially sophisticated--typically the wealth--to take advantage of new financial instruments that shelter their gains from tax. And as capital is able to move ever more quickly and easily across borders, corporate income becomes increasingly elusive of taxation. These forces, together with deliberate policy changes, have led to an erosion of progressivity--the principle that higher incomes should face higher rates of taxation--and a dramatic reduction in the average tax rate facing very high-income households. More than half of that decline is the result of declining effective corporate tax rates, as high-income households own disproportionate amounts of capital. The tax code is not only a means of raising revenue to pay for government services. It also impactsan astonishing array of economic and social activities, from honeownership to education and child care to support for low-income workers. Taxes contribute, as part of the problem or as part of the solution, to many of the challenges our nation faces. The present tax treatment of health insurance, for example, pushes health spending upward while offering many of the uninsured little help in getting coverage. The tax treatment of retirement savings provides a windfall for high-income Americans who would likely have saved anyway, while offering scant encouragement to saving by low- and moderate-income Americans, many of whom face the prospect of an insecure retirement. America's factories and cars continue to emit vast amounts of the carbon dioxide that drives climate change, a problem that would be remedied, in part, if the tax code imposed a cost for buring corbon-emitting fossil fuels"--Page 3.
Categories: Income tax

Tax and the Digital Economy

Tax and the Digital Economy

This is the first book to analyse what changes are possible, necessary and feasible in order to forestall the unravelling of the existing international tax framework.

Author: Werner Haslehner

Publisher: Kluwer Law International B.V.

ISBN: 9789403503356

Category: Law

Page: 370

View: 618

The increasingly digitalized global economy is undermining the usefulness of many traditional tax concepts. In addition to issues of double taxation and double non-taxation, important questions arise concerning the allocation of taxing rights in respect of income from cross-border digital transactions. This is the first book to analyse what changes are possible, necessary and feasible in order to forestall the unravelling of the existing international tax framework. Focusing in turn on the legal framework, specific proposals for adapting tax concepts for the digital economy, types of transactions and administrative issues such as those around data protection and digital currencies, the expert contributors discuss such challenges to taxation as the following: the pervasiveness of intangible assets; new value creation models; the ascendance of the sharing economy and digital services; virtual currencies; the importance of user participation for digital platforms; cloud computing; the impact of Big Data on tax enforcement; virtual business presence; and the influence of robotization. Throughout, the authors describe and analyse proposals made by the Organisation for Economic Co-operation and Development (OECD), the European Union (EU) and individual countries and their likely impact going forward. They also attend to the limits imposed on reform possibilities by public international law, EU law and constitutional law. It is generally acknowledged that there is a need to monitor how the digital transformation may be impacting value creation. This book is a key milestone toward developing a durable, long-term solution to the tax challenges posed by the digitalization of the economy. With its thorough scrutiny of proposals for digital services tax and virtual permanent establishments, insightful analysis of digital services and detailed description of the impact of big data on tax administration and taxpayer protection, it will quickly prove indispensable for tax practitioners and the international tax community more generally.
Categories: Law

Global Tax Revolution

Global Tax Revolution

This book explores one of the most dynamic and exciting aspects of globalization—international tax competition.

Author: Chris Edwards

Publisher: Cato Institute

ISBN: 9781933995977

Category: Political Science

Page: 250

View: 888

This book explores one of the most dynamic and exciting aspects of globalization—international tax competition. With rising mobility and soaring capital flows, individuals and businesses are gaining freedom to work and invest in nations with lower tax rates. That freedom is pressuring governments to cut taxes on income, investment, and wealth. In Global Tax Revolution, Chris Edwards and Daniel Mitchell chronicle tax reforms around the world in recent decades. They describe the dramatic business tax cuts of Ireland, the flight of successful people from high-tax France, and the introduction of simple “flat taxes” in more than two dozen nations. Like other aspects of globalization, tax competition is generating intense political opposition. Numerous governments and international organizations are fighting to restrict tax cuts. Edwards and Mitchell challenge those efforts, arguing that tax competition is helping to advance prosperity, expand human rights, and rein in bloated governments.The authors argue that the U.S. economy can be revitalized by embracing competition and overhauling the federal tax code. They discuss how current tax rules suppress wages and investment and describe the tax changes needed for workers and businesses to succeed in the fast-paced global economy. Rather than idly complaining about jobs and capital moving offshore, this book argues that policymakers need to embrace major tax reforms to ensure rising standards of living for Americans in the years ahead.
Categories: Political Science

Macroeconomic Perspectives on the Danish Economy

Macroeconomic Perspectives on the Danish Economy

An authoritative and comprehensive guide to major economic policy issues in Denmark.

Author: T. Andersen

Publisher: Springer

ISBN: 9780230501034

Category: Business & Economics

Page: 376

View: 561

An authoritative and comprehensive guide to major economic policy issues in Denmark. Leading Danish and international economists discuss, in comparative context, the Danish economy's performance in the last 40 years, and assess the challenges which Denmark - in common with other small, open economies - faces in the global economy today. Major features include the continuing of academic analysis with policy-making experience and expertise, and the examination of topical issues including the impact of EMU on 'outsider' nations.
Categories: Business & Economics

Making People Pay

Making People Pay

The taxpayers, tax practitioners and the students of social sciences would also find this book enriching.

Author: Sibichen K. Mathew

Publisher: Partridge Publishing

ISBN: 9781482801484

Category: Social Science

Page: 326

View: 809

Can a complex subject like tax compliance be handled in such a simple manner? Sibichen K Mathew is successful in presenting his in-depth study on what makes people pay taxes or what prevents them from paying in a very interesting style. The Author takes us through the history, the economics and the politics of taxation to dissect the interconnected issues related to tax evasion and tax enforcement. He forcefully argues that the economic models are unable to fully explain the behaviour of taxpayers. For, if the tax laws are complex, the human mind is much more complex to yield to the economic models. His arguments are supported by data on attitudes, perceptions and experience of taxpayers, many of whom declare themselves to be tax evaders. The author also analyzes the sociological and economic causes and consequences of tax evasion and tax enforcement in the global context. The author has also briefly referred to the tax challenges thrown up by the integrated world economy. The solution offered is scaling up of international cooperation on a significant scale. The insights gained from these incisive analyses have enormous implications for policy makers as well as tax administrators all over the world. The taxpayers, tax practitioners and the students of social sciences would also find this book enriching.
Categories: Social Science

The Future of the Corporate Tax

The Future of the Corporate Tax

This paper discusses three essential challenges of the present economic environment: serious long-term budget imbalances, dramatic increases in income inequality over recent decades, and a discrepancy between national or sub-national ...

Author: Kimberly A. Clausing

Publisher:

ISBN: OCLC:1308955428

Category:

Page: 36

View: 747

This paper discusses three essential challenges of the present economic environment: serious long-term budget imbalances, dramatic increases in income inequality over recent decades, and a discrepancy between national or sub-national government jurisdictions and an increasing global economy. This trio of tough policy challenges necessitates a reevaluation of capital taxation in general, and the corporate tax in particular. Corporate taxation has an important role to play in both protecting the revenue-raising capacity of the income tax system and addressing income disparities. However, the global nature of economic activity requires modernization of corporate taxation; reform of U.S. corporate taxation is long overdue.
Categories:

Democracies in Peril

Democracies in Peril

Bastiaens and Rudra make the novel argument that regime type is a major determinant of revenue-raising capacity once free trade policies have been adopted.

Author: Ida Bastiaens

Publisher: Cambridge University Press

ISBN: 9781108676618

Category: Political Science

Page:

View: 478

Globalization is triggering a 'revenue shock' in developing economies. International trade taxes - once the primary source of government revenue - have been cut drastically in response to trade liberalization. Bastiaens and Rudra make the novel argument that regime type is a major determinant of revenue-raising capacity once free trade policies have been adopted. Specifically, policymakers in democracies confront greater challenges than their authoritarian counterparts when implementing tax reforms to offset liberalization's revenue shocks. The repercussions are significant: while the poor bear the brunt of this revenue shortfall in democracies, authoritarian regimes are better-off overall. Paradoxically, then, citizens of democracies suffer precisely because their freer political culture constrains governmental ability to tax and redistribute under globalization. This important contribution on the battle between open societies and the ability of governments to help their people prosper under globalization is essential reading for students and scholars of political economy, development studies and comparative politics.
Categories: Political Science

Tax Reform in Open Economies

Tax Reform in Open Economies

Gordon, R.H. (1986), 'Taxation of investment and savings in the world economy', American Economic Review, 76, 1086–102. ... J. Martinez-Vasquez and M. Rider (eds), The Challenges of Tax Reform in a Global Economy, New York: Springer.

Author: Iris Claus

Publisher: Edward Elgar Publishing

ISBN: 9781849804998

Category: Business & Economics

Page: 340

View: 324

This book brings together research from some of the world s leading tax economists to discuss appropriate directions for tax reform in small open economies. The eminent contributors (including Altshuler, Creedy, Freebairn, Gravelle, Heady, Kalb, Sørensen and Zodrow) investigate the beneficial directions for medium-term tax reform in the light of global developments and lessons from the latest taxation research. In addressing this issue, they review recent advances in both the theoretical and empirical tax literature and reform evidence from individual countries. Topics covered include the impact of taxes on economic performance; international and corporate taxation; personal tax and welfare systems; environmental taxation; and country-specific tax reform experiences. Bringing together leading international experts to explore specific policy reforms, this book will prove essential reading for academics and researchers of public economics, fiscal policy and tax reform. It will also be warmly welcomed both by undergraduate and graduate students of public economics or the economics of taxation, as well as policymakers and government officials working in the area of tax policy.
Categories: Business & Economics