Taxing Immovable Property Revenue Potential And Implementation Challenges
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Taxing Immovable Property Revenue Potential And Implementation Challenges
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Author : Mr.John Norregaard
language : en
Publisher: International Monetary Fund
Release Date : 2013-05-29
Taxing Immovable Property Revenue Potential And Implementation Challenges written by Mr.John Norregaard and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-29 with Business & Economics categories.
The tax on immovable property has been characterized as probably the most unpopular among tax instruments, in part because it is salient and hard to avoid. But economists continue to emphasize the virtues of the property tax owing to its relatively low efficieny costs, benign impact on growth, and high score on fairness. It is, therefore, generally considered to be underutilized in most countries. This paper takes stock of the arguments for using real property taxation, and presents an updated data-set for high-and middle income countries to illustrate its use. It also reflects the renewed and widespread interest in property tax reform globally, and discusses the many policy and administrative issues that must be carefully considered as prerequisites for successful property tax reform.
Taxing Immovable Property Revenue Potential And Implementation Challenges
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Author : Mr.John Norregaard
language : en
Publisher: International Monetary Fund
Release Date : 2013-05-29
Taxing Immovable Property Revenue Potential And Implementation Challenges written by Mr.John Norregaard and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-29 with Business & Economics categories.
The tax on immovable property has been characterized as probably the most unpopular among tax instruments, in part because it is salient and hard to avoid. But economists continue to emphasize the virtues of the property tax owing to its relatively low efficieny costs, benign impact on growth, and high score on fairness. It is, therefore, generally considered to be underutilized in most countries. This paper takes stock of the arguments for using real property taxation, and presents an updated data-set for high-and middle income countries to illustrate its use. It also reflects the renewed and widespread interest in property tax reform globally, and discusses the many policy and administrative issues that must be carefully considered as prerequisites for successful property tax reform.
Property Tax In Africa
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Author : Riël C. D. Franzsen
language : en
Publisher:
Release Date : 2017
Property Tax In Africa written by Riël C. D. Franzsen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Property tax categories.
"Overview of property tax systems across Africa. Reviews of salient features for 29 countries and four regions (Anglophone, Francophone, Lusophone, North African countries). Chapters offer in-depth discussion of key policy issues (tax base, exemptions and other relief, and tax rate), administrative issues (valuation and assessment, billing, collection, enforcement), and the future of the property tax in Africa"--Provided by publisher.
Inequality And Fiscal Policy
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Author : Mr.Benedict J. Clements
language : en
Publisher: International Monetary Fund
Release Date : 2015-09-21
Inequality And Fiscal Policy written by Mr.Benedict J. Clements and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-21 with Business & Economics categories.
The sizeable increase in income inequality experienced in advanced economies and many parts of the world since the 1990s and the severe consequences of the global economic and financial crisis have brought distributional issues to the top of the policy agenda. The challenge for many governments is to address concerns over rising inequality while simultaneously promoting economic efficiency and more robust economic growth. The book delves into this discussion by analyzing fiscal policy and its link with inequality. Fiscal policy is the government’s most powerful tool for addressing inequality. It affects households ‘consumption directly (through taxes and transfers) and indirectly (via incentives for work and production and the provision of public goods and individual services such as education and health). An important message of the book is that growth and equity are not necessarily at odds; with the appropriate mix of policy instruments and careful policy design, countries can in many cases achieve better distributional outcomes and improve economic efficiency. Country studies (on the Netherlands, China, India, Republic of Congo, and Brazil) demonstrate the diversity of challenges across countries and their differing capacity to use fiscal policy for redistribution. The analysis presented in the book builds on and extends work done at the IMF, and also includes contributions from leading academics.
Current Challenges In Revenue Mobilization Improving Tax Compliance
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-01-29
Current Challenges In Revenue Mobilization Improving Tax Compliance written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-01-29 with Business & Economics categories.
This paper addresses core challenges that all tax administrations face in dealing with noncompliance—which are now receiving renewed attention. Long a priority in developing countries, assuring strong compliance has acquired greater priority in countries facing intensified revenue needs, and is critical for fairness and statebuilding. Series: Policy Papers
How To Design And Implement Property Tax Reforms
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Author : Martin Grote
language : en
Publisher: International Monetary Fund
Release Date : 2024-09-19
How To Design And Implement Property Tax Reforms written by Martin Grote and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-09-19 with Business & Economics categories.
Property taxes are often under-exploited sources of local public revenues. A broad-based tax, raised at modest rates, can potentially generate significantly higher revenues in many countries, and meet most of the costs of improved local public services. This note provides a practical guide to designing and implementing reforms to recurrent taxes on immoveable property and real estate transfer taxes. It addresses the fundamental policy choices regarding the property tax base and tax rate, and the key functions of the tax administration for managing collections – valuation, billing, and enforcement. The advice in the note stems from a review of the literature and insights gained from the experiences of the Fiscal Affairs Department in delivering capacity development on property taxes. It covers and updates some of the analytical work by Norregaard (2013) while providing granular advice on practical aspects of reforming property taxes. The note is motivated by the resource mobilization needs of developing countries, but the design considerations are also pertinent for advanced and emerging market economies seeking to increase the revenue productivity of property taxes.
Oecd Fiscal Federalism Studies Making Property Tax Reform Happen In China A Review Of Property Tax Design And Reform Experiences In Oecd Countries
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2021-11-30
Oecd Fiscal Federalism Studies Making Property Tax Reform Happen In China A Review Of Property Tax Design And Reform Experiences In Oecd Countries written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-30 with categories.
This report looks at crucial elements of reforms to growth-friendly recurrent taxes on immovable property. Tax design practices in place in OECD and partner countries are compared and analysed through the lenses of economic theory and empirical analysis.
Toward A Sustainable And Inclusive Consolidation In Lithuania
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Author : Ms.Nan Geng
language : en
Publisher: International Monetary Fund
Release Date : 2013-07-03
Toward A Sustainable And Inclusive Consolidation In Lithuania written by Ms.Nan Geng and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07-03 with Business & Economics categories.
This paper reviews Lithuania’s fiscal consolidation since 2009, assesses the contribution of revenue and expenditure to the consolidation, evaluates the quality of measures, and draws lessons for the future. It finds that, despite having the lowest revenue-to-GDP ratio in the EU, Lithuania’s fiscal adjustment has so far relied mainly on expenditure measures, with the quality of measures deteriorating over time. The analysis also suggests that Lithuania’s tax system, in comparison with other EU countries and regional peers, is skewed toward labor and consumption taxes, and plays a more limited role in income redistribution, especially in the upper income brackets. The paper argues therefore that there is ample scope to implement high quality revenue measures in order to complete the fiscal adjustment in the medium term in a sustainable and inclusive manner.
Tax Policy Leverage And Macroeconomic Stability
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-12-10
Tax Policy Leverage And Macroeconomic Stability written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-12-10 with Business & Economics categories.
Risks to macroeconomic stability posed by excessive private leverage are significantly amplified by tax distortions. ‘Debt bias’ (tax provisions favoring finance by debt rather than equity) has increased leverage in both the household and corporate sectors, and is now widely recognized as a significant macroeconomic concern. This paper presents new evidence of the extent of debt bias, including estimates for banks and non-bank financial institutions both before and after the global financial crisis. It presents policy options to alleviate debt bias, and assesses their effectiveness. The paper finds that thin capitalization rules restricting interest deductibility have only partially been able to address debt bias, but that an allowance for corporate equity has generally proved effective. The paper concludes that debt bias should feature prominently in countries’ tax reform plans in the coming years.
Modernizing China
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Author : W. Raphael Lam
language : en
Publisher: International Monetary Fund
Release Date : 2017-01-14
Modernizing China written by W. Raphael Lam and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-14 with Business & Economics categories.
China is at a critical juncture in its economic transformation as it tries to rebalance what is generally seen as an exhausted growth model. A unifying theme across the reforms that will deliver this transformation is that it can no longer be achieved by raising the amount of physical investment and government direction of resource allocation. Instead China is building a new set of policy frameworks that will allow markets to function more effectively—not unfettered markets, but markets that work efficiently, in line with broad social and other policy goals, and in a sustainable way. Hence, China is now building a new soft infrastructure, that is, the institutional plumbing that underpins and guides the functioning of markets as the key organizing principle toward achieving sustained economic and social progress. Against this background, this volume provides policymakers, academics, and the public with valuable information about policies and institutions in China today. It also looks at the road ahead and key principles that can help China in navigating it. The book focuses on issues crucial in the country’s transformation, such as tax policy and administration, social security, state-owned enterprise reform, medium-term expenditure frameworks, the role of local government finances, capital account liberalization, and renminbi internationalization. As China moves toward a more price-based allocation of resources, strengthening monetary policy frameworks and financial sector regulation will be particularly important in channeling resources to the most productive sectors and minimizing the risks of financial sector stress. Also, upgrading statistical frameworks will be critical for macroeconomic policymaking and investors. Visit : http://www.elibrary.imf.org/page/modernizing-china