Progressive Taxation Of Extractive Resources As Second Best Optimal Policy

Progressive Taxation Of Extractive Resources As Second Best Optimal Policy Book in PDF, ePub and Kindle version is available to download in english. Read online anytime anywhere directly from your device. Click on the download button below to get a free pdf file of Progressive Taxation Of Extractive Resources As Second Best Optimal Policy book. This book definitely worth reading, it is an incredibly well-written.

Progressive Taxation of Extractive Resources as Second-Best Optimal Policy

Jean-François Wen
Progressive Taxation of Extractive Resources as Second Best Optimal Policy Book PDF

Author : Jean-François Wen
Publisher : International Monetary Fund
Page : 32 pages
File Size : 52,8 Mb
Release : 2018-06-13
Category : Business & Economics
ISBN : 9781484361627

Get Book

Progressive Taxation of Extractive Resources as Second-Best Optimal Policy by Jean-François Wen Pdf

The paper provides a critical review of the literature on the concept of progressivity in the taxation of petroleum and mineral resources and offers a fresh perspective on its purpose and measurement. Regressive taxes, such as royalties, exist to satisfy policy objectives other than revenue maximization, such as achieving early revenues, while rent-based or profit-sensitive fiscal instruments must be designed with progressive marginal rates to maximize government revenues. Hence, the emphasis should be placed on tax rate progression of the direct taxation of profit or rent, rather than progressivity in the overall government take. However, as regressive taxes, by their very nature, tend to be distortionary, the optimal degree of progression in the rent- or profit-tax rates must take these distortions into account. The central ideas are illustrated with a simple analytical model in which a second-best optimal tax rate schedule on profit is characterized in the presence of the tax distortions caused by the regressive taxes. Some practical implications of the analysis are discussed.

Issues in Extractive Resource Taxation

Mr.James L. Smith
Issues in Extractive Resource Taxation Book PDF

Author : Mr.James L. Smith
Publisher : International Monetary Fund
Page : 26 pages
File Size : 52,7 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781475592474

Get Book

Issues in Extractive Resource Taxation by Mr.James L. Smith Pdf

This paper provides a conceptual overview of economists’ attempts to learn about the effects of taxes on extractive resources. The emphasis is on research methods and techniques, with no attempt to provide a comprehensive tabulation of previous empirical results or policy conclusions regarding preferred tax instruments or systems. We argue, in fact, that the nature of such conclusions largely depends on the researcher’s choice of modeling framework. Many alternative frameworks and approaches have been developed in the literature. Our goal is to describe the differences among them and to note their strengths and limitations.

Fiscal Regimes for Extractive Industries—Design and Implementation

International Monetary Fund. Fiscal Affairs Dept.
Fiscal Regimes for Extractive Industries Design and Implementation Book PDF

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 82 pages
File Size : 48,5 Mb
Release : 2012-08-16
Category : Business & Economics
ISBN : 9781498340069

Get Book

Fiscal Regimes for Extractive Industries—Design and Implementation by International Monetary Fund. Fiscal Affairs Dept. Pdf

Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: ????? ??????? ?????? ???????? ???????????: ??????? ???????? Also available in French: Régimes fiscaux des industries extractives: conception et application Also available in Spanish: Regímenes fiscales de las industrias extractivas: Diseño y aplicación

Taxing Windfall Profits in the Energy Sector

Mr. Thomas Baunsgaard,Nate Vernon
Taxing Windfall Profits in the Energy Sector Book PDF

Author : Mr. Thomas Baunsgaard,Nate Vernon
Publisher : International Monetary Fund
Page : 20 pages
File Size : 41,6 Mb
Release : 2022-08-30
Category : Business & Economics
ISBN : 9798400218736

Get Book

Taxing Windfall Profits in the Energy Sector by Mr. Thomas Baunsgaard,Nate Vernon Pdf

The surge in fossil fuel prices in 2022 has generated substantial windfall profits in the energy sector. Policymakers in many countries are exploring policies to tax part of these profits. Excess profits can be taxed by tax instruments targeted at economic rents that avoid discouraging investment and limit any impact on further price increases. Many fossil fuel producing countries already have an adequate rent-capturing fiscal instrument in place. Others may consider introducing a permanent tax on windfall profits from fossil fuel extraction but should be more cautious about temporary and possibly poorly designed windfall profit taxes. Given the importance of encouraging decarbonatization of energy generation, it seems counter-intuitive to introduce exceptional tax measures on renewable electricity generation.

Excess Profit Taxes: Historical Perspective and Contemporary Relevance

Mr. Shafik Hebous,Dinar Prihardini,Nate Vernon
Excess Profit Taxes Historical Perspective and Contemporary Relevance Book PDF

Author : Mr. Shafik Hebous,Dinar Prihardini,Nate Vernon
Publisher : International Monetary Fund
Page : 37 pages
File Size : 50,7 Mb
Release : 2022-09-16
Category : Business & Economics
ISBN : 9798400221729

Get Book

Excess Profit Taxes: Historical Perspective and Contemporary Relevance by Mr. Shafik Hebous,Dinar Prihardini,Nate Vernon Pdf

This paper discusses the design of excess profits taxes (EPTs) that gained renewed interest following the COVID-19 outbreak and the recent surge in energy prices. EPTs can be designed as an efficient tax only falling on economic rent, like an allowance for corporate capital, and drawing some parallels with current proposals for reforming multinationals’ taxation. EPTs can be permanent or temporary as an add-on to the corporate income tax to support revenue during an adverse shock episode. The latter reflects experiences with EPTs during and after the World Wars. Different from that era, though, profit shifting is now a challenge. Estimation using firm-level data suggest that, at present, locations of excess profit across countries are consistent with profit shifting practices by multinationals. Destination-based EPTs can address this concern. Estimates suggest that a 10 percent EPT on the globally consolidated accounts of multinationals (on top of the current corporate income tax), with the EPT base being allocated using sales, raises global revenue by 16 percent of corporate income tax revenues. The analysis suggests that international coordination would be desirable to mitigate the risks of profit shifting and tax competition. Eventually, EPTs could mark an evolution of corporate taxation toward a non-distortionary rent tax.

Key Issues in Natural Resource Taxation and Revenue Management in the Commonwealth

Daniel Wilde
Key Issues in Natural Resource Taxation and Revenue Management in the Commonwealth Book PDF

Author : Daniel Wilde
Publisher : Commonwealth Secretariat
Page : 49 pages
File Size : 40,5 Mb
Release : 2016-10-11
Category : Commonwealth countries
ISBN : 9781849291606

Get Book

Key Issues in Natural Resource Taxation and Revenue Management in the Commonwealth by Daniel Wilde Pdf

Public policies in taxation and revenue management are key to ensuring natural resource wealth results in economic development. Tax policy and systems should ensure that whenever natural resources are extracted, the host state receives a fair share of revenue. Revenue management policies are required to ensure that government revenues from natural resources are wisely used to finance sustainable economic development. This Economic Paper analyses key issues in natural resource taxation and revenue management and recommends policies that can improve countries’ economic performance. The discussion draws on economic theory, empirical evidence and the work of the Commonwealth Secretariat.

Corporate Income Taxes under Pressure

Ruud A. de Mooij,Mr.Alexander D Klemm,Ms.Victoria J Perry
Corporate Income Taxes under Pressure Book PDF

Author : Ruud A. de Mooij,Mr.Alexander D Klemm,Ms.Victoria J Perry
Publisher : International Monetary Fund
Page : 388 pages
File Size : 42,8 Mb
Release : 2021-02-26
Category : Business & Economics
ISBN : 9781513511771

Get Book

Corporate Income Taxes under Pressure by Ruud A. de Mooij,Mr.Alexander D Klemm,Ms.Victoria J Perry Pdf

The book describes the difficulties of the current international corporate income tax system. It starts by describing its origins and how changes, such as the development of multinational enterprises and digitalization have created fundamental problems, not foreseen at its inception. These include tax competition—as governments try to attract tax bases through low tax rates or incentives, and profit shifting, as companies avoid tax by reporting profits in jurisdictions with lower tax rates. The book then discusses solutions, including both evolutionary changes to the current system and fundamental reform options. It covers both reform efforts already under way, for example under the Inclusive Framework at the OECD, and potential radical reform ideas developed by academics.

Tax Policy and Inclusive Growth

Khaled Abdel-Kader,Ruud A. de Mooij
Tax Policy and Inclusive Growth Book PDF

Author : Khaled Abdel-Kader,Ruud A. de Mooij
Publisher : INTERNATIONAL MONETARY FUND
Page : 38 pages
File Size : 46,5 Mb
Release : 2020-12-04
Category : Business & Economics
ISBN : 1513561561

Get Book

Tax Policy and Inclusive Growth by Khaled Abdel-Kader,Ruud A. de Mooij Pdf

This paper discusses the theory and practice of tax design to achieve an efficient and equitable outcome, i.e. in support of inclusive growth. It starts with a discussion of the key principles from tax theory to guide practical tax design. Then, it elaborates on more granular tax policy, discussing key choices in the structure of the personal income tax on labor and capital income, taxes on wealth, the corporate income tax, and consumption taxes. The paper concludes by highlighting the political economy considerations of the issues with concrete recommedtions as to how to implement tax reform.

Is Fiscal Policy the Answer?

Blanca Moreno-Dodson
Is Fiscal Policy the Answer Book PDF

Author : Blanca Moreno-Dodson
Publisher : World Bank Publications
Page : 286 pages
File Size : 44,9 Mb
Release : 2012-10
Category : Business & Economics
ISBN : 9780821396308

Get Book

Is Fiscal Policy the Answer? by Blanca Moreno-Dodson Pdf

Fiscal policy is an important instrument for maintaining and improving living standards. Such living standards can be viewed as an outcome of the interaction between the opportunities offered by society and the readiness and ability of each person to exploit them. Under certain circumstances, public finance can make an important contribution to the creation of opportunities within a given society by raising resources from the private sector through taxation or borrowing (domestic and external) and allocating those resources effectively and equitably in the form of public spending, including through public goods and transfers. The first chapters in this volume sketch out a framework that policy makers can use in adopting a more cohesive or integrated approach to the short- and long-term dimensions of fiscal policy. Here the traditional threefold rationale for fiscal policy proposed by Musgrave-stabilization, resource allocation, and distribution-continues to be useful. Other chapters in this volume take up some of the critical institutional challenges in implementing fiscal policy for longer-term growth and development. These chapters also look at the tools and approaches being developed to address these challenges. Improving the quality of public investment management is a particular priority in view of the recent evidence that as little as half of all public investment expenditure translates into productive capital stock. The last chapter in this volume is a case study of fiscal responses to the great recession in low-income Sub-Saharan Africa, looking at stabilization and the longer-run growth, as well as distributional aspects of such responses. The growing depth of domestic financial markets in many African countries rather unexpectedly is turning out to be a critical source of financing for fiscal policy responses.

The Taxation of Petroleum and Minerals

Philip Daniel,Michael Keen,Charles McPherson
The Taxation of Petroleum and Minerals Book PDF

Author : Philip Daniel,Michael Keen,Charles McPherson
Publisher : Routledge
Page : 471 pages
File Size : 46,5 Mb
Release : 2010-04-15
Category : Business & Economics
ISBN : 9781136966958

Get Book

The Taxation of Petroleum and Minerals by Philip Daniel,Michael Keen,Charles McPherson Pdf

Oil, gas, and mineral deposits are a substantial part of the wealth of many countries, not least in developing and emerging market economies. Harnessing some part of that wealth for fiscal purposes is critical for economic development. This book shows how the harnessing in few areas of economic life are the returns to good policy.

Revenue Mobilization in Developing Countries

International Monetary Fund. Fiscal Affairs Dept.
Revenue Mobilization in Developing Countries Book PDF

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 86 pages
File Size : 54,9 Mb
Release : 2011-08-03
Category : Business & Economics
ISBN : 9781498339247

Get Book

Revenue Mobilization in Developing Countries by International Monetary Fund. Fiscal Affairs Dept. Pdf

The Fund has long played a lead role in supporting developing countries’ efforts to improve their revenue mobilization. This paper draws on that experience to review issues and good practice, and to assess prospects in this key area.

Mining Royalties

Anonim
Mining Royalties Book PDF

Author : Anonim
Publisher : World Bank Publications
Page : 320 pages
File Size : 49,7 Mb
Release : 2006-01-01
Category : Technology & Engineering
ISBN : 9780821365038

Get Book

Mining Royalties by Anonim Pdf

This book contains a wealth of information and analysis relating to mineral royalties. Primary information includes royalty legislation from over forty nations. Analysis is comprehensive and addresses issues of importance to diverse stakeholders including government policymakers, tax administrators, society, local communities and mining companies. Extensive footnotes and citations provide a valuable resource for researchers.

Strengthening Domestic Resource Mobilization

Raul Felix Junquera-Varela,Marijn Verhoeven,Gangadhar P. Shukla,Bernard Haven,Blanca Moreno-Dodson
Strengthening Domestic Resource Mobilization Book PDF

Author : Raul Felix Junquera-Varela,Marijn Verhoeven,Gangadhar P. Shukla,Bernard Haven,Blanca Moreno-Dodson
Publisher : World Bank Publications
Page : 144 pages
File Size : 50,7 Mb
Release : 2017-06-29
Category : Business & Economics
ISBN : 9781464810749

Get Book

Strengthening Domestic Resource Mobilization by Raul Felix Junquera-Varela,Marijn Verhoeven,Gangadhar P. Shukla,Bernard Haven,Blanca Moreno-Dodson Pdf

Public spending plays a key role in the economic growth and development of most developing economies. This book analyzes revenues, policy, and administration of Domestic Resource Mobilization (DRM) in developing countries. It provides a broad landscape of practical examples, drawing from lessons learned in World Bank operations across Global Practices over the past several decades. It should be thought of as a starting point for a more comprehensive research agenda rather than a complete inventory itself. This book reviews the trends in tax revenue collection in developing countries. It provides an overview of efforts to close the revenue gap, many of which have been supported by World Bank operations. The book reviews the special challenges facing low income countries, which have traditionally relied on indirect revenues in the context of limited formalization of their economies. An overview of tax policy and administration reform programs is presented, with an overview of outstanding issues that will shape the policy agenda in years ahead.

Tax Policy, Leverage and Macroeconomic Stability

International Monetary Fund. Fiscal Affairs Dept.
Tax Policy Leverage and Macroeconomic Stability Book PDF

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 78 pages
File Size : 41,7 Mb
Release : 2016-12-10
Category : Business & Economics
ISBN : 9781498345200

Get Book

Tax Policy, Leverage and Macroeconomic Stability by International Monetary Fund. Fiscal Affairs Dept. Pdf

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.

Handbook of Public Economics

Martin Feldstein,A.J. Auerbach
Handbook of Public Economics Book PDF

Author : Martin Feldstein,A.J. Auerbach
Publisher : Elsevier
Page : 744 pages
File Size : 42,8 Mb
Release : 2002-01-25
Category : Business & Economics
ISBN : 9780080544199

Get Book

Handbook of Public Economics by Martin Feldstein,A.J. Auerbach Pdf

The Field of Public Economics has been changing rapidly in recent years, and the sixteen chapters contained in this Handbook survey many of the new developments. As a field, Public Economics is defined by its objectives rather than its techniques and much of what is new is the application of modern methods of economic theory and econometrics to problems that have been addressed by economists for over two hundred years. More generally, the discussion of public finance issues also involves elements of political science, finance and philosophy. These connections are evidence in several of the chapters that follow. Public Economics is the positive and normative study of government's effect on the economy. We attempt to explain why government behaves as it does, how its behavior influences the behavior of private firms and households, and what the welfare effects of such changes in behavior are. Following Musgrave (1959) one may imagine three purposes for government intervention in the economy: allocation, when market failure causes the private outcome to be Pareto inefficient, distribution, when the private market outcome leaves some individuals with unacceptably low shares in the fruits of the economy, and stabilization, when the private market outcome leaves some of the economy's resources underutilized. The recent trend in economic research has tended to emphasize the character of stabilization problems as problems of allocation in the labor market. The effects that government intervention can have on the allocation and distribution of an economy's resources are described in terms of efficiency and incidence effects. These are the primary measures used to evaluate the welfare effects of government policy.