Tax
Congress May Soon Choose Between Wage Credits Or More Unemployment Benefits
With the May jobless rate at 13.3 percent —an improvement over April but still terrible– policymakers are considering many ideas to support workers in the…
Read MoreOECD Report: Tax Revenue as Percent of GDP Below Average in Latin American and Caribbean Countries
The Organisation for Co-operation and Economic Development (OECD) has compiled tax revenue data for countries around the world—including 26 Latin American and Caribbean (LAC) countries, where tax revenue as a percent of GDP is on average 11 percentage points lower than in other regions. On average, the tax-to-GDP ratio for 25 countries (excluding Venezuela due…
Read MoreComplexity of Corporate Taxes in Europe
Corporate tax codes should be designed to be easy for businesses to comply with and for governments to administer and enforce. Today’s map shows how complex—or easy—it is to remit corporate taxes across Europe. One way to quantify corporate tax code complexity is to measure the time needed to comply with the tax administratively. The…
Read MoreEU Member States Pushing EU-wide Vapor Tax
In late May, EURACTIV (a media company focusing on EU policy and politics) reported that member states would ask the European Commission (EC) to include novel nicotine products such as heated tobacco products and vapor products in the EU Tobacco Excise Directive. Novel products are currently regulated under the EU Tobacco Products Directive but are…
Read MoreWatch: Taxing the Digital Economy
The digitalization of the economy has led more companies to adopt virtual operations, disrupting traditional means of consumption and income taxation. This has led to a heated debate on how best to tax the digital economy. Despite the OECD stepping in to negotiate a global framework, some countries have taken unilateral action, implementing problematic digital…
Read MoreHow High are Vapor Taxes in Your State?
Vapor products have been growing in popularity since they entered the market in 2007, and taxation on such items has been following suit. Many states may also be looking toward vapor and other excise taxes to fill budget holes caused by the coronavirus crisis. While those areas may represent untapped revenue sources for many states,…
Read MoreHEROES Act Would Expand The EITC For Childless Workers And Help Fight Recession
The Health and Economic Recovery Omnibus Emergency Solutions Act , HEROES Act, would substantially increase the earned income tax credit (EITC) for workers without children…
Read MoreBalancing School Budgets And Tax Hikes In The Middle Of A Pandemic
After nearly three months under a stay-at-home order, my daughter may have had it with my house rules. She sent me a TikTok video of…
Read MoreThe U.S. Trade Representative Expands Its Digital Services Tax Investigations
Today, the United States Trade Representative (USTR) announced Section 301 Investigations into Digital Services Tax (DST) policies in nine countries and the European Union. The announcement follows an investigation of the French DST that was completed in 2019, after which the USTR threatened significant tariffs in retaliation against France. These new investigations could lead to…
Read More