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William N. Goetzmann

apps. Joann M. Weiner Director, MA in Applied Economics, The George Washington University Author , Company Tax Reform in the European Union

International Monetary Fund

consistent tax regime for companies, cooperatives, life insurance companies, discretionary trusts, and unit trusts. The government would also hold consultations with the business sector on further company tax reform with the possibility of reducing the capital gains tax and lowering the company tax rate from 36 to 30 percent, subject to the need to maintain revenue neutrality. 8. Tax administration would be improved. Antiavoidance provisions, targeted in particular at trusts, will be implemented immediately. B. Impact on the Commonwealth and State Budgets 9. The

Chiara Bronchi and Dale Chua

Company Taxation ( Brussels : Commission of the European Communities ). Sørensen , Peter Birch 2004 , “ Company Tax Reform in the European Union ,” International Tax and Public Finance , Vol. 11 , pp. 91 – 115 . 10.1023/B:ITAX.0000004778.63592.96 Stotsky , Janet , and Asegedech WoldeMariam , 2002 , “ Central American Tax Reform: Trends and Possibilities ,” IMF Working Paper 02/227 ( Washington : International Monetary Fund ). 10.5089/9781451875423.001 Wacziarg , Romain , and Karen Horn Welch , 2003 , “ Trade Liberalization

International Monetary Fund. Asia and Pacific Dept

in the economy. The National Innovation and Science Agenda (NISA) seeks to strengthen R&D. In 2014, the government committed to reduce the gender gap in labor force participation by 25 percent by 2025 as part of the Brisbane Commitments in the G-20 process. Company tax reform has sought to reduce the statutory corporate income tax rate gradually from 30 to 25 percent. So far, only the rate reduction to 27½ percent over 5 years for small companies with a turnover of up to A$50 million has been legislated. 39. The 5-Year Productivity Review released in October

International Monetary Fund. Asia and Pacific Dept

the progressivity of the system and favoring lower income groups. 6 The proposed company tax reform, which sought to reduce the statutory corporate income tax (CIT) rate gradually from 30 to 25 percent for all companies, has been implemented only partially. The rate reduction to 25 percent by FY2021/22 was legislated for small companies with a turnover below A$50 million, while a reduction in the CIT rate for larger companies was defeated in the Senate. Horizontal fiscal equalization (HFE) reform was also completed in November 2018, by revising the redistribution

International Monetary Fund. Western Hemisphere Dept.

production levy and power to remit or refund the levy) The Bauxite and Alumina Industries (Special Provision) Act (exemptions from transfer tax, stamp duties and fees; income tax credited against production levy; income tax may be required to be paid in US dollars) Sections 36A, 36B and 36C of the Income Tax Act (tax relief for approved venture capital company). Tax Reforms 5. The government is moving ahead with a comprehensive tax reform . With the support of the IDB, a tax reform action plan has been prepared to guide the reform process

Bernd Genser and Mr. Vito Tanzi

reforms will be extremely helpful to the GDR in developing a tax structure for its transition toward a market economy. 1. Toward a reform of GDR company taxation The main objective of a GDR company tax reform is to abolish the selective treatment of different enterprises. This can be done by eliminating the production fund levy and the net profit transfer and applying the Corporate Income Tax Law to all incorporated enterprises. Socialized enterprises and cooperatives will then be subject to unlimited corporate tax liability if they are turned into companies and

International Monetary Fund. External Relations Dept.
Finance and Development, June 2016
International Monetary Fund
This Selected Issues paper and Statistical Appendix focuses on two analytical approaches for judging whether the current account for Australia is sustainable. The paper implements the first approach, by asking how Australia’s net external liability position is likely to evolve over time, based on assumptions of future growth and interest rates. The paper implements the second approach by exploring the implications of a model of optimal external borrowing and lending. The main conclusions are also discussed in the paper.
International Monetary Fund
A central requirement in the rapid movement of German Democratic Republic (GDR) toward a market economy is the introduction of a market-oriented tax system. The paper highlights the main features of the traditional socialist tax structure of the GDR and the current tax structure of the Federal Republic of Germany (FRG). Arguments for an adequate short-term tax reform in the GDR are developed in two scenarios, contrasting the approach of taking over the FRG tax system (adoption scenario) and an autonomous tax reform in the GDR (reform scenario). Both scenarios recommend a flexible adjustment approach which anticipates the medium-term development of the German tax system pursuant to domestic reform requirements, international tax harmonization and fiscal federalism.