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Biden Approach to Taxing Corporate Income Raises Complexity for Businesses

America is known for its exceptionalism, but when it comes to corporate tax policy, the Biden administration is embarking on an uncharted course that will set the U.S. apart from global tax policy norms and best practices. The proposed changes to our corporate tax rules could make the U.S. a less attractive place to do […]

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Sources of Government Revenue in the OECD

Table of Contents Key Findings In 2019, OECD countries raised on average one-third of their tax revenue through consumption taxes such as the Value-added Tax (VAT), making consumption taxes the most important revenue source. Social insurance taxes and individual income taxes were the second and third most important sources of tax revenue in the OECD, […]

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Digital Tax Collection Triggers New U.S. Tariffs on France

Today, the United States puts into effect new 25 percent tariffs on $1.3 billion in French products. This comes as a response to France commencing collection of its digital services tax (DST) at the end of 2020. The tariffs will target several French cosmetics, handbags, and assorted soaps. Finance Minister Bruno Le Maire has said that […]

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Carbon Taxes in Europe

In recent years, several countries have taken measures to reduce carbon emissions using environmental regulations, emissions trading systems (ETS), and carbon taxes. In 1990, Finland was the world’s first country to introduce a carbon tax. Since then, 16 European countries have followed, implementing carbon taxes that range from less than €1 per metric ton of […]

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An Excise State of Mind

As the economic crisis driven by the pandemic has continued, a troubling trend in tax policy discussions has arisen. It is common these days to hear finance ministers refer to tax increases that would be narrowly targeted at a particular business model or industry simply based on the fact that those businesses appear to be […]

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Digital Taxes, Meet Handbag Tariffs

Today the U.S. Trade Representative (USTR) announced new tariffs in response to the French digital services tax. The tariffs of 25 percent on $1.3 billion worth of trade would not go into effect until January 6, 2021. The tariffs would apply to several make-up products, handbags, and assorted soaps. In January, the U.S. and France […]