Global Tax Governance: Work in Progress?
AbstractThe international financial crisis which broke out in 2008 has had a major impact on fiscal sustainability of countries all over the world. Countries have responded with varying measures. Moreover, in the aftermath of the global financial crisis, international initiatives regarding tax governance have gained political momentum; various initiatives regarding fiscal policy have been taken at the global level, and several policies with implications for national tax policy and law are conducted at that level . Therefore, this paper will give an overview of the international tax initiatives at the level of the Group of Twenty (G-20), the Organization for Economic Cooperation and Development (OECD), the United Nations (UN), the International Monetary Fund (IMF) and the World Trade Organization (WTO). These international tax initiatives cannot be referred to as 'international tax law'. It would be more appropriate to see them as a hesitant beginning of a form of global tax governance''. This contribution will show that the unequivocal fiscal principle of ‘no taxation without representation’ poses an important challenge for the emergence of legitimate global tax governance, as most of the international initiatives lack an inclusive process. Whereas multiple international tax initiatives exist, we cannot yet discern the existence of globally effective tax governance.
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Bibliographic InfoPaper provided by European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS) in its series EUI-RSCAS Working Papers with number 12.
Date of creation: 15 May 2011
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ACC-2011-10-01 (Accounting & Auditing)
- NEP-ALL-2011-10-01 (All new papers)
- NEP-PBE-2011-10-01 (Public Economics)
- NEP-PUB-2011-10-01 (Public Finance)
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