Category International Tax Cooperation

Start Taxing Inheritances, Says OECD

April 13, 2018 International Tax Cooperation

inheritance taxesPARIS – Inheritance taxes are the key to reducing the developed world’s growing problem of wealth inequality.

The Organization for Economic Cooperation and Development has issued a new report stating that governments need to use taxes to combat wealth inequality, and has suggested that inheritance taxes are an ideal way of achieving this goal.

The OECD noted that the levels of wealth inequality in the developed world have risen in recent decades, and the extent of wealth inequality is greater than income inequality.

It was explained that “A key aspect of wealth accumulation is that it operates in a self-reinforcing way; wealth begets wealth,” the report said. “It may be argued that wealth begets more power, which may ultimately beget more wealth...

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EU Eyes Taxes on Harleys and Bourbon

March 7, 2018 International Tax Cooperation

taxes on harleyWASHINGTON D.C. – A tax war is brewing between the USA and the EU, as a threat to tax EU steel leads to a threat to tax bourbon and Harley Davidson imports.

Earlier this week the EU Commissioner for Trade, Cecilia Malmström, indicated that the EU may retaliate against the US’s threat of import taxes on metal.

The retaliatory taxes will come in the form of targeted levies in the import of items manufactured in the USA.

The items in questions are specifically chosen to cause political pressure against the Trump administration.

Among the items to be taxed are bourbon, orange juice, jeans, t-shirts. Cosmetics, motorbikes, pleasure boats, steel, industrial products, and corn.

The goods chosen are produced in key political states or swing states or are associated with manufacturers which h...

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OECD Says Tax Emissions More

February 15, 2018 International Tax Cooperation

tax on emissionsWASHINGTON D.C. – Developed countries around the globe are not taxing polluters enough to compensate for the harm they are doing to the environment.

The OECD has issued a new report which states that governments around the world are not using taxes to effectively slow down climate change.

Taxes are claimed to be an effective means of encouraging emitters to reduce their emissions levels or to move towards cleaner energy or more energy efficient products and methods.

However, an analysis of the taxes on emissions across 42 OECD and G20 countries between 2012 and 2015 indicated that such taxes are underutilized.

Aside from taxes on road transport, nearly 81 percent of emissions were untaxed in 2015.

The emissions which were taxed were taxed at less than EUR 30 per tonne of carbon dioxide...

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Meat Tax on the Way

December 12, 2017 International Tax Cooperation

taxing meatLONDON – Meat production is too damaging to the environment to remain untaxed.

In a press release issued on November 11th, the investor advocacy group Farm Animal Investment Risk and Return (FAIRR) warned that there is a very high chance that governments around the world will introduce a tax on meats in the near future.

The group claimed that the likelihood of a tax on meat will increase with the global implementation of the Paris Agreement, which will place stringent requirements on environmentally damaging practices and substances.

The impact of the Agreement may be to increase the effective cost and difficulty of raising animals for meat.

It was argued that it is becoming “increasingly probable” that some governments will choose to tax meat in a similar fashion to sugars, tobacco, or ...

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Tax the Rich, Says IMF

October 12, 2017 International Tax Cooperation

IMF wealth taxWASHINGTON D.C – Even the IMF has now come forward to say that income inequality is a problem and that taxing wealthy individuals is one of the solutions.

On October 12th the International Monetary Fund issued the results of new research, calling for taxes to be raised on the incomes and assets of wealthy taxpayers.

It was claimed that since 1981, the average top tax rates on income in the OECD have fallen from approximately 62 percent to a new low of 35 percent.

However, over the same period of time, the accumulated wealth of the top 5 percent of earners have steadily increased.

The Fund claimed that income inequality around the world is increasing, and a significant shift of taxes towards the wealth and incomes of wealthy individuals will be a key to reducing inequality in the OECD.

Fu...

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