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Fiscal consolidation was the key driver of tax reforms in the years after the global economic crisis, but the main emphasis now has shifted to measures to boost economic growth, according to a new report from the Organisation for Economic Co-operation and Development (OECD).
Tax Policy Reforms in the OECD provides an overview of the changes that were implemented, legislated or announced in the 35 OECD nations in 2015. The report – the first edition of a new annual monitoring exercise – identifies common tax policy trends across the members.
Fiscal consolidation was the key driver of tax reforms in the years after the global economic crisis but the main emphasis now has shifted to measures to boost economic growth according to a new report from the Organisation for Economic Co-operation and Development (OECD).
Tax Policy Reforms in the OECD provides an overview of the changes that were implemented legislated or announced in the 35 OECD nations in 2015. The report – the first edition of a new annual monitoring exercise – identifies common tax policy trends across the members.
It found that reforms focused on boosting growth and were characterised by reductions in labour and corporate taxes. This is a significant shift from the post-crisis period when fiscal consolidation led governments to implement increases in labour taxes and VAT rates.
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