Tax policy is playing a critical role as countries seek to promote economic recovery from the COVID-19 pandemic and respond to the impact of rapid increases in energy prices, according to a new OECD report.
Tax Policy Reforms 2022 describes recent tax reforms across 71 countries and jurisdictions, including all OECD members and selected members of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting.
The report finds that tax reforms – notably reductions in taxes on labour and more generous corporate tax incentives – have been among the key policy tools that countries have used to stimulate growth and promote economic recovery from the pandemic.
As energy prices rose steeply from the second half of 2021, countries moved quickly to shield households and businesses by providing temporary fiscal support – including tax cuts – and by tapering existing stimulus measures that could add to inflation.
“Recent tax reforms have been targeted at stimulating economic recovery from COVID-19, while countries with the greatest fiscal space have been providing more generous tax benefits for longer periods of time,” said Pascal Saint‑Amans, Director of the OECD Centre for Tax Policy and Administration. “Countries have also used tax policy as one of their main tools in responding to rapid rises in energy prices.”
Personal income taxes and social security contributions were reduced in 2021 in almost all countries covered in the report, with most reductions targeted at lower-income households to support employment and provide in-work benefits. Many countries also increased corporate tax incentives to stimulate investment and innovation.
The most significant VAT reforms focused on the digital economy and e-commerce, including strong growth in e-invoicing and digital reporting requirements. Property tax reforms were less common in 2021, with a small number of countries implementing measures to reduce the use of properties as investment vehicles and improve equity in the housing market.
A Special Feature in this year’s report highlights how tax policy has been used by governments to provide significant support to households and businesses, shielding them from the impact of high energy prices. The report notes that the measures introduced through mid-2022 to lower the price of energy were rapidly deployed and often relatively simple to implement. However, the report also suggests that governments could provide more targeted measures for at-risk groups, improve the resilience of households that are vulnerable to price shocks, and accelerate the development of alternative sources of energy and modes of transport.
To access the report, data, and summary, visit www.oecd.org/tax/tax-policy-reforms-26173433.htm.
Contacts:
- David Bradbury, Head of the Tax Policy and Statistics Division in the OECD Centre for Tax Policy and Administration (CTPA) | david.bradbury@oecd.org
- Bert Brys, Head of the Country Tax Policy Unit in CTPA | bert.brys@oecd.org
- Lawrence Speer, OECD Media Office | Lawrence.Speer@oecd.org | news.contact@oecd.org
Compliments of the OECD.
Al great deal for a web developer. Details: https://zetds.seychellesyoga.com/var_montero
Content for your website https://zetds.seychellesyoga.com/info
Web Development Wizards https://zetds.seychellesyoga.com/info
Can provide a link mass to your website https://zetds.seychellesyoga.com/info
Your site’s position in the search results https://zetds.seychellesyoga.com/info
Web Development Wizards https://zetds.seychellesyoga.com/info
Free analysis of your website https://zetds.seychellesyoga.com/info
SEO Optimizers Team https://zetds.seychellesyoga.com/info
I offer mutually beneficial cooperation https://zetds.seychellesyoga.com/info
Cool website. There is a suggestion https://zetds.seychellesyoga.com/info
I really liked your site. Do you mind https://zetds.seychellesyoga.com/info
Here’s what I can offer for the near future https://zetds.seychellesyoga.com/info
You will definitely like it https://zetds.seychellesyoga.com/info
Content for your website https://ztd.bardou.online/adm
Web Development Wizards https://ztd.bardou.online/adm
Can provide a link mass to your website https://ztd.bardou.online/adm
Your site’s position in the search results https://ztd.bardou.online/adm
Free analysis of your website https://ztd.bardou.online/adm
SEO Optimizers Team https://ztd.bardou.online/adm
I offer mutually beneficial cooperation https://ztd.bardou.online/adm
Cool website. There is a suggestion https://ztd.bardou.online/adm
Here’s what I can offer for the near future https://ztd.bardou.online/adm
Web Development Wizards https://ztd.bardou.online/adm
Can provide a link mass to your website https://ztd.bardou.online/adm
Free analysis of your website https://ztd.bardou.online/adm
SEO Optimizers Team https://ztd.bardou.online/adm
I offer mutually beneficial cooperation https://ztd.bardou.online/adm
Cool website. There is a suggestion https://ztd.bardou.online/adm
Content for your website http://myngirls.online/
Web Development Wizards http://myngirls.online/
Can provide a link mass to your website http://myngirls.online/
Your site’s position in the search results http://myngirls.online/
Free analysis of your website http://myngirls.online/
SEO Optimizers Team http://myngirls.online/
I offer mutually beneficial cooperation http://myngirls.online/
Content for your website http://fertus.shop/info/
Can provide a link mass to your website http://fertus.shop/info/
Free analysis of your website http://fertus.shop/info/
SEO Optimizers Team http://fertus.shop/info/
I offer mutually beneficial cooperation http://fertus.shop/info/
Cool website. There is a suggestion http://fertus.shop/info/
I really liked your site. Do you mind http://fertus.shop/info/
Here’s what I can offer for the near future http://fertus.shop/info/
You will definitely like it http://fertus.shop/info/
The best prices from the best providers http://fertus.shop/info/
Additional earnings on your website http://fertus.shop/info/
Analytics of your website http://fertus.shop/info/
I would like to post an article http://fertus.shop/info/
How to contact the administrator on this issue http://fertus.shop/info/
Shall we exchange links? My website http://fertus.shop/info/
The offer is still valid. Details http://fertus.shop/info/
We offer cooperation on SEO optimization http://fertus.shop/info/
Web Development Wizards http://fertus.shop/info/
Your site’s position in the search results http://fertus.shop/info/
Web Development Wizards http://fertus.shop/info/
Your site’s position in the search results http://fertus.shop/info/
SEO Optimizers Team http://fertus.shop/info/