On Monday, Senate Majority Leader Mitch McConnell (R-KY) announced the Health, Economic Assistance, Liability Protection and Schools (HEALS) Act, backed by Senate Republicans as their opening bid for “Phase 4” economic relief ahead of negotiations with Senate and House Democrats. Phase 4 relief is the anticipated follow-up legislation to the $2 trillion Coronavirus Aid, Relief,…

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The Organisation for Economic Co-operation and Development (OECD) recently published a report on tax revenue statistics in selected Asian and Pacific countries, covering 21 tax jurisdictions. The report provides tax revenue data from 1990 to 2018 and includes a section on nontax revenue data for selected Asian and Pacific economies. Additionally, a special feature co-authored by the…

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Seeking new sources of funding, New York and New Jersey—two states at the heart of global financial markets—are considering financial transaction taxes. New Jersey’s A4402 would impose a 0.25 cent tax on every financial transaction processed in the state. In New York, some lawmakers have proposed a rate as high as 5 cents per share…

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Key Findings Allowing companies to fully and immediately deduct investments in structures is one of the most cost-efficient ways lawmakers can stimulate investment, create jobs, and boost GDP during a post-pandemic recovery. Changes to depreciation schedules in the two pieces of major tax legislation in the 1980s influenced investment in real estate and have since…

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All European Union (EU) countries levy excise duties on distilled alcohol; excise tax is applied to the cost of goods on purchase. The standard size of a liquor bottle in the EU is 700ml (23.7 oz). Many spirits, such as vodka, gin, rum, and whiskey, contain alcohol content in the range of 40 percent. The…

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