Premium Essay

Forum on Tax Reform

In: Business and Management

Submitted By Rekko
Words 17400
Pages 70
Forum on Tax Reform

Fundamental Tax Reform: An International Perspective
Abstract - This paper examines trends in tax reforms. The analysis is limited to the experience of 30 OECD countries, and focuses particularly on changes since the year 2000. The paper analyses the general trend of reductions in both tax revenues and rates and the diversity in tax policies across OECD countries, reflecting the diversity in both economic circumstances and policy objectives. Developments in tax administration are also briefly dealt with. Some of the challenges for tax policymakers and administrators that are likely to arise over the next few years are identified, and possible alternative approaches to solving them are put forward.

INTRODUCTION ax reform is an ongoing process, with tax policymakers and tax administrators continually adapting their tax systems to reflect changing economic, social and political circumstances. Over the last two decades, almost all Organisation for Economic Cooperation and Development (OECD) countries have undertaken structural changes to their tax system that have significantly altered the way these systems function and their economic and social impacts.1 In some countries (for example, many of the Eastern European economies in transition), the reforms have been profound and implemented over a very short period of time. In others (most of the European countries), the reforms have been a gradual process of adaptation, but over time they have substantially redesigned their tax systems. One can argue about whether this second group of countries can be characterized as having undertaken “fundamental” tax reform, but this seems to be no more than a semantic debate. Few would disagree that the tax systems in operation in the 30 OECD Member countries today truly are fundamentally different from those that operated in the mid–1980s. These tax reforms have...

Similar Documents

Premium Essay


...various sectors championing sin tax reform as it sought to retain the multitiered system and increase excise tax collection from tobacco and alcohol products by only P15 billion to P20 billion in the first year of implementation. This is significantly lower than the P31.35 billion that House Bill 5727, already passed on third reading, projects to raise, and an even farther cry from the P60.63-billion goal originally proposed by the Department of Finance. Senator Drilon’s substitute bill features an expected excise tax collection of P40 billion to P45 billion in the first year. Congress will adjourn for the holidays in six weeks, and there will be just three weeks of sessions next year before our legislators switch to campaign mode for the 2013 elections. Moreover, the Senate is also scheduled to begin deliberations on the proposed 2013 General Appropriations Act by next week. Thus, the need for the Senate to act and move the sin tax bill forward gains even greater urgency. Certainly, the passage of the sin tax bill has the full backing of the Aquino administration, which plans to use the revenue from the revised sin tax system to advance the government’s universal health care agenda. The campaign has garnered strong public support as well, particularly from the medical and health community. Last May, the Makati Business Club submitted its position to the House ways and means committee on the pending sin tax bill. In its statement “Tax Reform for a Healthier and Competitive...

Words: 845 - Pages: 4

Free Essay


...Austin Braham The American Association of Retired Persons is a powerful special interest group that protects the interests of retirees across the US by lobbying politicians to pass legislation in the organization’s favor. Inside you will find detailed information outlining AARP’s mission, purpose, and scope. Austin Braham The American Association of Retired Persons is a powerful special interest group that protects the interests of retirees across the US by lobbying politicians to pass legislation in the organization’s favor. Inside you will find detailed information outlining AARP’s mission, purpose, and scope. Politicians are elected in part on the basis of the issues by which they stand, and these issues are either held up or weakened by numerous interest groups that exist today. Interest groups target both major and minor issues, using all of their resources to sponsor or overpower the groups' concern. Interest groups are composed of a limited range of the body of voters who have a great stake in the issues that their group supports. It is made clear and evident which issues their group supports. Resources are used in an attempt to make their interests public policy. Interest groups are persistent; they do not give up until they succeed and they lobby congress, take legal action, and attempt to influence election results in order to benefit their cause. One such political interest group is the AARP (American Association of Retired Persons). Founded......

Words: 1002 - Pages: 5

Premium Essay

Healthcare in America

...Healthcare in America B. Powers ENGL103-1204B-01: Composition: Writing and Research Colorado Technical University December 24, 2012 Improving the access and affordability of health insurance coverage for all Americans should be a primary concern for those who help create the laws of the land. At this date, there are roughly 44 million Americans without any type of healthcare coverage. Another 38 million people have inadequate health insurance (PBS, 2012). What this all means is that the people who need it the most are putting off seeing a doctor until last moment and then usually end up visiting an emergency room. If they cannot pay for the visit, the cost of that ER visit falls back on the taxpayers, people who have health insurance coverage, and the Federal Government. The young, under the age of nineteen, are usually covered by Medicaid and the elderly, 65 and up, are usually covered by Medicare. The people lost in the middle are mainly those aged 19-64, who are uninsured and do what they can to keep themselves healthy. When that does not work, the local health departments and emergency rooms are expected to take up the slack. Of those who may have health insurance coverage, that coverage comes through their employer. The people who have insurance through their employer make up about 56% of the population American workers, while about 11% have privately purchased insurance (Jovanovic, et. al., 2003). The people who do not have traditional jobs such as those who......

Words: 1465 - Pages: 6

Premium Essay

Set Individual Health Insurance Premiums

...With its near-global membership of 187 countries, the IMF is uniquely placed to help member governments take advantage of the opportunities—and manage the challenges—posed by globalization and economic development more generally. The IMF tracks global economic trends and performance, alerts its member countries when it sees problems on the horizon, provides a forum for policy dialogue, and passes on know-how to governments on how to tackle economic difficulties. The IMF provides policy advice and financing to members in economic difficulties and also works with developing nations to help them achieve macroeconomic stability and reduce poverty. Marked by massive movements of capital and abrupt shifts in comparative advantage, globalization affects countries' policy choices in many areas, including labor, trade, and tax policies. Helping a country benefit from globalization while avoiding potential downsides is an important task for the IMF. The global economic crisis has highlighted just how interconnected countries have become in today’s world economy. Key IMF activities The IMF supports its membership by providing * policy advice to governments and central banks based on analysis of economic trends and cross-country experiences; * research, statistics, forecasts, and analysis based on tracking of global, regional, and individual economies and markets; * loans to help countries overcome economic difficulties; * concessional loans to help fight poverty in......

Words: 760 - Pages: 4

Premium Essay

Leadership Challenges and Opportunities

...Leadership Challenges and Opportunities Rita Ludeman Grand Canyon University PSC-410 February 23, 2014 Companies today face a number of issues or challenges that can have drastic effects on the company if not handled correctly. Two of the issues are; finding the right staff and keeping up with the changing regulatory environment. According to Conner (2013) one of the biggest challenges faced by organizations today is, “finding the right staff, retaining them, and ensuring they buy into the vision of the organization” (Finding the right staff). The key is to figure out how to deal with individual personalities, what motivates each employee, and develop the management accordingly. The other problem is the changing regulations regarding environment. According to Conner (2013), “the problems to be solved are to understand the meaning of regulation in your industry, its implications for your business, and to develop the skills necessary to deal with it. Two key areas are taxes and health care” (Regulation). The hiring process within an organization is one of the most important tasks to be fulfilled. The difference between good employees and great employees can make a huge difference in the effectiveness of the company. Great employees possess a habit of success and find ways of completing their jobs where good employees see an obstacle as a dead end. Competency is a must for a great employee. They must have knowledge and understanding of the position they are being hired......

Words: 1018 - Pages: 5

Free Essay

Tax Havens Pull Up Socks

...Tax Havens pull up socks in ‘transparency’ era The great ‘subprime’ crisis has had its share of fallouts over past 24 months; yet there is a silver lining emerging from under the dark clouds which has the world order gearing up for a brand new era of financial discipline and enhanced regulation. Ironically, one of the positives borne out of the recent economic upheaval has been staggering focus on ensuring robust transparency standards in tax matters. Before delving further into how tax transparency and information exchange are critical for sorting financial disorder across economies, let me try and explain the concept of ‘money laundering’ and how the absence of strict standards in tax discipline have abated this menace. This also helps putting in perspective the role that the international tax policy, in tandem with other non-tax measures, plays in combating tax evasion, whether with or without aid of money laundering. What’s the color of money!! Money laundering is loosely used to describe ‘washing’ of unaccounted or illicitly sourced money through a cobweb of complex financial transactions, usually involving more than one jurisdiction. The objective of the process deployed to ‘clean’ the money is to hide either the ownership or the destination of such funds. A typical ‘laundering’ scheme could see three stages: a) Placement stage – at this stage, the objective of stakeholders is to move the illicit funds away from source location; sources of such funds can......

Words: 1511 - Pages: 7

Premium Essay

Mba502 Assignment 1.2

...Assignment 1.2: Forum Discussion − Macroeconomic Theory and Current Events Ra’Quell Yarbrough Jones International University October 6th, 2011 Although New Zealand’s industrial sector has expanded vastly over twenty years, it still depends heavily on its extremely efficient agricultural sector. New Zealand is still profoundly reliant on on the primary sector with commodities accounting for half of total goods exports, and exports account for about one third of New Zealand’s GDP. The recession arose with a drought between 2007 and 2008 which led to lesser production of dairy products for the first half of 2008. Consumption and investment decelerated significantly due to high fuel and food prices, high interest rates and falling real estate prices. New Zealand was already at a shortcoming before the global financial crisis hit and by September of 2008 the economy only got worse. As of 2010 the unemployment rate floated around 6.8% and was lower than the OECD average of 8.6% and was ranked 12th of 27 OECD countries with standardized unemployment rates. New Zealand is a leader in economic freedom due to its diversified and modern economy, with high levels of prosperity and institutional strengths that include strong protection of property rights and an efficient legal structure. In spite of the recent stress on the economy, New Zealand remained relatively unharmed, with public debt, increased by crisis spending and now above 20% of GDP, remains moderate compared to......

Words: 799 - Pages: 4

Free Essay

Tranparency in Governance Is the Ultimate Key to Reforms

...TRANPARENCY IN GOVERNANCE IS THE ULTIMATE KEY TO REFORMS INTRODUCTION India is a developing country. There have been innumerable barriers addressed so far which require the expansion of reforms in India. The barriers are corruption, illiteracy, unemployment, poverty, culture, religion, caste, etc. In such diverse environments, it is vital to have an effective and tolerant government and sustain development. Indians are well aware of good governance but are curtailed by these innumerable barriers. The closed approach caused by these barriers is the root cause for corruption in the country. India ranks very low in the Transparency index and is known for high levels of corruption. BARRIERS Slowdown in the growth of GDP , a virtual stagnation in industrial production, and the risk of loosing the investments grade rating by international rating agencies like Standard and Poor’s has rattled the government and industry. The policy makers are favoring the introduction of FDI in service sectors like retail, insurance as a means to reverse the slowdown in the economy. But sustained growth is possible only if there is a healthy manufacturing sector. In the last years India has hardly invested in the physical infrastructure which has hampered the development of manufacturing sector increasing the costs of transportation. India’s overdependence on the service sector and slow growth in manufacturing has been the reason for deceleration in the pace of economy. The presence of......

Words: 1299 - Pages: 6

Free Essay


...effort to modernize its economy and ended the century with a successful economic modernization. Since the early 1980s, China ranks among the world’s fastest growing economies. Using standards of measurement of the gross domestic product (GDP) based on purchasing power parity, the IMF ranks China’s economy a close third, after only the United States and Russia (Soled, 1993).   In 1978, Deng Xiaoping took over the control of the communist party and abandoned the Maoist economic model. Deng Xiaoping is widely regarded as one of the most undisputed leader of all times. He initiated the transformation of the planned economy towards more market-oriented economy and decided to open China up to free market economic reforms and Western style capitalism (Chow, 2001).  These reforms were a reversal of the Maoist policy of economic self-reliance. Successful economic development in other parts of Asia including Taiwan, Hong Kong, Singapore and South Korea, known as the four Tigers, demonstrated to the Chinese government officials and the Chinese people that a market economy works better than a planned economy (Soled, 1993). Deng realized that China needed Western technology and investment, and opened the door to foreign businesses who wanted to set up in China (Chow, 2001). China decided to accelerate the modernization process by stepping up the volume of foreign trade, especially the purchase of machinery from Japan and the West. By participating in export-led growth, China was able......

Words: 1105 - Pages: 5

Premium Essay

House of Commons Revision

...House of Commons Most powerful of the two Houses of Parliament. Made up of 650 MPs, each elected in one of 650 constituencies throughout the UK. Almost all MPs are elected as members of a political party. Functions of The House of Commons Representation: MPs represent constituents and may represent 'interests' such as trade unions, or particular professions, provided these interests are declared. Almost all MPs represent political parties, and usually vote according to the party line (the whipping system). Government Personnel: Although parliament does not appoint the government, it provides a forum in which budding ministers can demonstrate and hone their political skills, while serving ministers can make or break their career depending on their performance at the Commons' dispatch box. Legitimisation: Permits the elected assembly, acting on the people's behalf, to grant (or withhold) its approval for most actions of the government, including legislation and the grant of money. Scrutiny of the Executive: The role in scrutinising the policies and actions of the government, in debates, parliamentary questions and within the influential cross-party select committees. The Powers of the Prime Ministers Power to appoint, reshuffle or dismiss ministers Power to create peers Power to give out honours Power to appoint chairs of nationalised industries Power to make other appointments (e.g. top civil servants, ambassadors, bishops, judges). Power over ministerial......

Words: 1292 - Pages: 6

Premium Essay


...Obama, was born on August 4, 1961 in Hawaii -His parents divorced when he was 2 yrs old and after that in 1967 he moved to Jakarta, Indonesia to live with his mother -1971: when he returned to Honolulu to live with his grandparents and attended Punahou school, a private preparatory school. He was one of few black students in school and his classmate regarded him as “the black kid from Indonesia” -1975: while in high school, Obama joined the basketball team and became a leader in class. (I think he started leading people very young) However, during his teenage years, he described his struggles as a young adult to reconcile social perceptions of his multiracial heritage lead him to use alcohol, marijuana and cocaine. (At the 2008 Civil Forum on the Presidency, Obama identified his high-school drug use as a great moral failure) -1979: Obama attended Occidental College and here he made his 1st public speech, calling for Occidental’s disinvestment from South Africa due to its policy of apartheid (mid-1981). - He graduated Bachelor of Arts with the major in political science in Columbia University in 1983. -He worked as director of the Developing Communities Project (a church-based community organization). He helped set up training program, a college preparatory tutoring program. -Entering Harvard Law School in 1988 and becoming an editor and also a first black president of the Harvard Law review. - Practicing as a civil rights lawyer and teaching at the University of......

Words: 1413 - Pages: 6

Premium Essay

Nonviolence and Social Change

...2nd, 1869 in Porbandar, Bombay (then apart of Presidency, British India. He was the son of the diwan or Prime Minister of the Porbander state. He married at age 13, as was custom in the region and had his first child at 15. When he was 18, Gandhi travelled to London, England to study law at University College London and to train as a barrister. Gandhi first employed civil disobedience while an expatriate lawyer in South Africa, during the resident Indian community's struggle there for civil rights. During this time, he wrote articles for Indian newspapers about black people that some modern readers consider racist. After his return to India in 1915, he organised protests by peasants, farmers, and urban labourers concerning excessive land-tax and discrimination. After assuming leadership of the Indian National Congress in 1921, Gandhi led nationwide campaigns to ease poverty, expand women's rights, build religious and ethnic amity, end untouchability, and increase...

Words: 575 - Pages: 3

Free Essay


...APPENDIX 1 INTERGOVERNMENTAL RELATIONS IN FEDERAL SYSTEMS  INTERGOVERNMENTAL RELATIONS IN FEDERAL SYSTEMS 1 Introduction 1 2 FEDERAL SYSTEMS 3 3 WHAT ARE INTERGOVERNMENTAL RELATIONS? 4 4 AUSTRALIA’S FEDERATION – HOW IS IT OPERATING? 5 5 INTERNATIONAL COMPARISONS 8 6 INTERNATIONAL FEDERAL SYSTEMS: A BRIEF OVERVIEW 9 7 7.1 7.2 7.3 7.4 7.5 PRINCIPLES OF INTERGOVERNMENTAL RELATIONS EFFECTIVENESS TRANSPARENCY ACCOUNTABILITY EFFICIENCY INDEPENDENCE 11 11 33 34 37 40 8 8.1 8.2 8.3 8.4 8.5 INTERGOVERNMENTAL FISCAL ARRANGEMENTS REVENUE RAISING SPENDING FISCAL EQUALISATION MONITORING POLICY 43 43 51 55 56 57 9 CONCLUSION 59 INTERGOVERNMENTAL RELATIONS IN FEDERAL SYSTEMS INTRODUCTION 1| INTRODUCTION Australia, like many other systems of government around the world, is a federal system. Federations, while divided into different levels of government inevitably have a degree of interdependency between governments. Inescapably there arises a degree of conflict or ineffective governance. For example, disputes may arise between different governments on the basis of service provision or infrastructure, constitutional jurisdiction, fiscal arrangements (e.g. vertical fiscal imbalance or spending powers) or environmental or social issues. Most federations have developed a system of intergovernmental consultation and ...

Words: 23183 - Pages: 93

Premium Essay

Universal Health Care

...Universal Health Care is defined as the belief that all citizens should have access to affordable, high-quality medical care (Anderson, 2013). Currently there are 46 million that do not have health coverage in the United states and this would drastically increase to 72 million if a health reform was not passed (The Economic Case for Health Care Reform, 2012)Why the United States is the last to adopt this government mandated insurance coverage, is possibly one of the most widely asked question around the nation. This, however; is all in the process of changing and will be completed by 2014 with the passing and implantation of Obama-care. There are three systems or levels of coverage under Universal Health Care; Single Payer, Two-Tier, and Insurance Mandate. Could one of these be beneficial to the United States and what is in store for the United States as we moved toward the change? The Single Payer Tier of the Universal Health care program is paid for by the government and pays all coverage except for the copays acquired at the appointment and for prescriptions (Anderson, 2013). Single Payer as the name suggest, is funded by one public agency and from a single fund. When medical fees are accumulated, all services are paid for by a single government source. It does not specify the type of delivery, or who the doctors can or will work for. Single-payer systems create contracts for healthcare services from private organizations or can own and employ the healthcare......

Words: 1148 - Pages: 5

Premium Essay


...Module: Issues in Global Business and Strategic Concepts Assignment on: Globalization Prepared for: Md. Ashiqur Rahman Bhuiyan Programme Leader BACB & Personal Tutor Prepared by: Tahmidul Islam University of Derby Program: Bachelor (Hons.) Business Administration Submitted date: 11/6/2013 Globalization: According to “Charles Willium Hill” globalization is toward a more integrated and interdependent world economy Globalization makes the world short and easy to communication. Bangladesh is famous for exporting RMG respectively. Through globalization Bangladesh is earning a lot foreign remittance in RMG sector. RMG Bangladesh: In 1978, Bangladesh starting earning through RMG and in that year Bangladesh RMG sector earn only one million dollar. However now in 2012 RMG sector of Bangladesh yearly turnover is 4.2 million dollar. The sector contributes significantly to the GDP. Our labor is cheap for a reason we can earn through RMG sector, our lion percent of people work in garments sector. It is possible because of globalization impact. The Globalization of Readymade Garments Bangladesh: As we all know, globalization means in a sentence ‘cross border business.’ Reduce all trade barriers around global. Bangladesh is also under globalization. There are few global institutions are- *World Trade Organization (WTO) *International Monitory Fund (IMF) *World Bank (WB) *United Nation (UN) We need global institutions because it helps to manage,......

Words: 782 - Pages: 4