Tax reform for the 21st century
AbstractThe 1980s were a decade of tax reform across OECD countries. The changes had many common themes. Top rates of personal income tax and rates of corporate income tax fell, but revenues were maintained by broadening the bases of these taxes. Seven countries introduced a value-added tax. Many countries that already had a VAT increased its rate. Social security contributions were increased in many countries. But the magnitude of past tax changes does not mean interest in tax reform has come to an end. First, many of the tax reforms failed fully to achieve their objectives: tax systems continue to distort economic decisions, they remain complex and the tax burden continues to rise. Secondly, some tax reforms may have had undesirable side effects, for example, on the distribution of income or the tax burden on labour. Thirdly, the agenda for tax reform has expanded to include issues such as environmental taxes, the communications revolution and commercial growth of the Internet and the relationships between taxation, investment, economic growth and jobs. And the G7, OECD and European Union are committed to addressing international tax issues, especially the extent of harmful tax competition.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 21135.
Date of creation: 1996
Date of revision:
tax; fiscal policy;
Find related papers by JEL classification:
- H87 - Public Economics - - Miscellaneous Issues - - - International Fiscal Issues; International Public Goods
- H2 - Public Economics - - Taxation, Subsidies, and Revenue
- H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
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- Griffith, R & Chennells, C, 1997. "Taxing Profits in a Changing World," Open Access publications from University College London http://discovery.ucl.ac.u, University College London.
- Rachel Griffith, 1996. "A note on the taxation of capital income in the Czech Republic and Poland," Fiscal Studies, Institute for Fiscal Studies, vol. 17(3), pages 91-103, August.
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