Narrow Your Choices

Refine By Countries

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Business and Economics > Corporate Taxation

You are looking at 1 - 8 of 8 items for :

  • Type: Journal Issue x
  • Economic Development: Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure x
Clear All Modify Search
Cover IMF Staff Country Reports
Ireland: 2023 Article IV Consultation-Press Release; and Staff Report
International Monetary Fund. European Dept.
This 2023 Article IV Consultation highlights that Ireland’s economy has shown remarkable resilience in the face of consecutive shocks. The Irish economy has displayed remarkable resilience in the face of recent consecutive shocks and is well-positioned to achieve a soft landing. Growth is expected to moderate to a still solid level in 2023-24, from a very high base, as tighter financial conditions, domestic capacity constraints, and weakening external demand weigh on the economy. Continued fiscal prudence is warranted to complement monetary tightening in sustaining disinflation and to build adequate buffers for the future. As fiscal policy should avoid adding to aggregate demand amid still elevated inflation, tax revenue over performance should be saved. The 2023 fiscal stance is appropriate. Fiscal policy should support growth-enhancing investment and broaden the tax base. The authorities’ decision to save part of excess corporate income tax revenues in two savings funds is welcome. Tighter financial conditions, persistent inflation, and rising vulnerabilities in the commercial real estate market with linkages to leveraged non-banks call for continued heightened vigilance of financial stability risks.
Keywords:
liability positions vis-à-vis nonresident; inflation development; transparency policy; money market rate; quarterly balance of payments; growth-enhancing investment; Medium-term fiscal policy; persistent inflation; Ireland's economy; Housing; Inflation; Corporate income tax; Credit; Global
Cover IMF Staff Country Reports
Ireland: Selected Issues
International Monetary Fund. European Dept.
This Selected Issues paper provides an international perspective to the authorities’ two recent policy measures: setting up new savings and counter cyclical and climate infrastructure funds and reforming the judicial review of planning decisions in Ireland. The first essay presents international best practices in the design and operation of sovereign wealth funds that could inform the setup of the two new funds in Ireland. It highlights the importance of operating the funds within a strong fiscal policy framework. The second essay reviews Ireland’s planning and permitting system, underscoring the key elements that have hindered public investment. It also looks into the government’s proposed Bill to reform the planning system and contrasts its key features with those of other international jurisdictions. It finds that several issues may contribute to the inefficiencies in the planning and judicial review system, such as the loose standing requirements and lack of mandatory timelines related to judicial review, as well as institutional governance issues within the planning board, which the newly proposed reforms and legislative measures seek to address.
Keywords:
housing affordability; D. policy option; savings fund; modernizing judicial review; impulse response; Housing; Housing prices; Pension spending; Global
Cover IMF Staff Country Reports
Ireland: Selected Issues
International Monetary Fund. European Dept.
This Selected Issues paper on Ireland focuses on ensuring an inclusive and growth-enhancing fiscal policy mix. It assesses the scope for improving the tax system toward a more growth-friendly structure, and for achieving efficiency gains in public expenditure. It also discusses upcoming impediments to long term fiscal sustainability and proposes options to achieve a more growth friendly and equity-enhancing revenue and expenditure policy mix. Under the 2021 National Development Plan, the government plans to significantly expand investment to historically high levels over the medium term. Good progress has been achieved in raising public spending efficiency but there is scope for further improvement. The stylized facts highlight the need for reforms to broaden the tax base and find new and stable sources of revenues as well as improving public expenditure efficiency. Public spending should focus on growth-friendly spending and reducing efficiency gaps. Decisive reforms are needed to ensure the future sustainability of the pension system and safeguard long term fiscal sustainability.
Keywords:
expenditure needs; GROWTH-ENHANCING fiscal policy mix; disparity in Ireland; spending pressure; OECD housing affordability database; Income inequality; Income; Corporate income tax; Europe
Cover IMF Staff Country Reports
Ireland: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Ireland
International Monetary Fund. European Dept.
The Irish economy continues to expand strongly, benefitting from higher net exports by multinational enterprises and robust domestic demand. Accelerating wage growth reflects tight labor market conditions and inflation has started to pick up. Crisis legacies have diminished but some vulnerabilities persist. The outlook remains broadly positive, provided Brexit proceeds in an orderly manner. However, the economy operates near full capacity and an accelerating cyclical momentum could re-ignite a boom-bust dynamic. A no-deal Brexit represents the key downside risk, while escalation in global protectionism and sudden changes in corporate tax planning of multinational enterprises in Ireland could adversely affect the economy and public finances.
Keywords:
ISCR; CR; government; Ireland; headline inflation; housing supply strategy; central bank of Ireland; liability positions vis-à-vis nonresident; welfare benefits system; IMF staff; potential GDP; Corporate income tax; Housing; Financial sector; Credit; Global; Europe
Cover IMF Staff Country Reports
Canada: Selected Issues
International Monetary Fund. Western Hemisphere Dept.
Selected Issues
Keywords:
ISCR; CR; productivity growth; addressing housing supply constraint; housing affordability; LTV policy; LTV limit; rental housing; policy instrument; tax rate; Corporate income tax; Housing; Productivity; Labor productivity; Housing prices; Global; North America
Cover IMF Staff Country Reports
Ireland: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Ireland
International Monetary Fund. European Dept.
This 2018 Article IV Consultation highlights that the Irish economy continues to grow at a rapid pace, well above the European Union average. Although headline data are distorted by the volatility of multinationals’ activity, the broad recovery of (modified) domestic demand (4 percent in 2017) underpins the expansion. Strong labor market performance brought the unemployment rate down to below 6 percent by April 2018. Although wage pressures emerged in some sectors, inflation remained subdued, mainly reflecting the pass-through of pound sterling depreciation. Public finances continued to improve on the back of strong output growth, while the public debt burden declined slightly to 68 percent of GDP. The outlook remains broadly positive but with externally-driven downside risks.
Keywords:
ISCR; CR; market; proceeds; headline inflation; government; public finance; liability positions vis-à-vis nonresident; housing demand; government priority; crisis legacy issue; demand pressure; labor market condition; Housing; Housing prices; Corporate income tax; Income; Global
Cover IMF Staff Country Reports
United States: Selected Issues
International Monetary Fund
This Selected Issues paper for the United States discusses the microeconomics of the country—household wealth and savings. Households’ consumption-saving decisions have an important bearing on the U.S. economic outlook. This paper demonstrates how households with consistently lower income, which have shown growth in the years prior to the crisis, experienced larger declines in their saving rates and a larger rise in their indebtedness before the crisis, contributing significantly to the dynamics of the mean saving rate.
Keywords:
ISCR; CR; recession; mortgage; saving rate; CIT rate; banking crisis; LTU rate; output loss; Corporate income tax; Income; Residential mortgages; Mortgages; Housing; Global
Cover Policy Papers
Debt Bias and Other Distortions: Crisis-Related Issues in Tax Policy
International Monetary Fund
Tax distortions are likely to have encouraged excessive leveraging and other financial market problems evident in the crisis. These effects have been little explored, but are potentially macro-relevant. Taxation can result, for example, in a net subsidy to borrowing of hundreds of basis points, raising debt-equity ratios and vulnerabilities from capital inflows. This paper reviews key channels by which tax distortions can significantly affect financial markets, drawing implications for tax design once the crisis has passed.
Keywords:
PP; financial asset; tax liability; income tax; cash flow; tax rate; stamp duty; property tax; retained earnings; Corporate income tax; Housing prices; Housing; Debt bias; Income tax systems