Taxes are potentially among the most effective ways of cutting pollution and greenhouse gas emissions, but they are currently – with very few exceptions – underused; and even where used, they are frequently designed in a sub-optimal way.

Taxes on the labour income of the average worker in Latin American and Caribbean (LAC) countries totalled 21.7% of total labour costs in 2013, one-third lower than in OECD countries, where the average was 35.9%, according to the first edition of Taxing Wages in Latin America and the Caribbean.

Tax revenues collected in advanced economies have continued to increase from last year’s all-time high, with taxes on labour and consumption representing an increasing share of total tax revenues, according to new OECD research.

Every worker and employer is directly affected by taxes on wages. Taxation is one of the principal ways we finance public services. It also helps us achieve important social objectives, such as redistributing wealth to address inequalities. But as the OECD’s annual Taxing Wages points out, tax policies on labour income may have an impact on individuals’ behaviour with respect to the labour market or their consumption habits.

This guidance will support the consistent implementation of internationally agreed standards for the VAT treatment of cross-border trade and is of particular relevance given the rapid and ongoing digitalisation of the economy.

Social security contributions and consumption taxes give way to personal income taxes, as corporate income taxes fail to recover

The taxation of personal savings and wealth varies widely, offering governments significant scope for tax reforms that simultaneously improve both the efficiency and fairness of their tax systems, according to two new OECD reports.

Workers in OECD countries paid just over a quarter of their gross wages in tax on average in 2017, with just over half of countries seeing small increases in the personal average tax rate, according to a new OECD report.

Tax revenues in advanced economies have continued to increase, with taxes on companies and personal consumption representing an increasing share of total tax revenues, according to new OECD research.

Income tax and social security contributions declined slightly for the average worker across the OECD in 2018, driven by major reforms in a handful of countries, according to a new OECD report.

Taxing polluting sources of energy is an effective way to curb emissions that harm the planet and human health, and the income generated can be used to ease the low-carbon transition for vulnerable households. Yet 70% of energy-related CO2 emissions from advanced and emerging economies are entirely untaxed, offering little incentive to move to cleaner energy, according to a new OECD report.

Labour taxes on the average worker across OECD countries continued to decline for the sixth consecutive year in 2019, according to a new OECD report.

Carbon taxes and emission trading systems are the most cost-effective means of reducing CO2 emissions, and should be at the centre of government efforts to tackle climate change,according to a new OECD study.

This country note provides an environmental tax and carbon pricing profile for Australia. It shows environmentally related tax revenues, taxes on energy use and effective carbon rates.

Carbon taxes and emission trading systems are the most cost-effective means of reducing CO2 emissions, and should be at the centre of government efforts to tackle climate change,according to a new OECD study.

This country note provides an environmental tax and carbon pricing profile for Japan. It shows environmentally related tax revenues, taxes on energy use and effective carbon rates.

This country note provides an environmental tax and carbon pricing profile for Austria. It shows environmentally related tax revenues, taxes on energy use and effective carbon rates.

This country note provides an environmental tax and carbon pricing profile for Belgium. It shows environmentally related tax revenues, taxes on energy use and effective carbon rates.

Income inequality in Colombia has declined since the early 2000s but remains very high by international standards. While most of the inequality originates from the labour market, wealth – and thus capital income – is also highly concentrated and the tax and transfer system has little redistributive impact.

Redistribution is quantified as the relative reduction in market income inequality achieved by personal income taxes, employees’ social security contributions and cash transfers, based on household-level micro data.

Many OECD countries have been facing a prolonged period of low growth and stagnating income of the poorest. This challenges governments’ fiscal redistribution, all the more so in a context where new forms of work are calling into question the effectiveness of traditional social safety nets and population ageing is putting pressure on public finances.

Carbon taxes and emission trading systems are the most cost-effective means of reducing CO2 emissions, and should be at the centre of government efforts to tackle climate change,according to a new OECD study.

Ensuring tax and transfer systems bring sufficient revenue to reach macroeconomic fiscal targets, address societal goals in re-distribution and social welfare, recognise the influence taxation has on businesses’ competitiveness and adequately address environmental externalities is a tough challenge, arguably more so in Israel than in many other OECD countries.

This review particularly recommends shifting away from income taxation to indirect taxation, for instance by raising more revenue from the Goods and Services Tax.

This paper analyses income inequality in Ireland using a new panel dataset based on the administrative tax records of the Revenue Commissioners for Ireland.

Tax reforms are crucial to promoting inclusive growth in India.

This paper investigates the factors that shape governments’ capacity to collect revenue.

Conventional wisdom holds that countries with lower taxes attract higher levels of foreign direct investment (FDI). At first glance, this intuitive assumption seems to be supported by the evidence but is this true?. Pierre Poret, Deputy Director of the OECD Financial and Enterprise Affairs Directorate takes a closer look.

Jeremy Corbyn unveils party's ‘most radical’ plans in decades, Tories backtrack on national insurance pledge while pressure on public finances increases

Kanye West announced plans in November that he was setting up a new Adidas Yeezys HQ in Cody, Wyoming, vowing to bring jobs back to the United States.

In a pilot scheme, Scottish town halls can introduce the supplement, dubbed a ‘Robin Hood tax’ because it takes from rich online giants and gives to beleaguered town centre stores.

Labour leader Jeremy Corbyn laid out a platform of tax hikes for the better-off and nationalisation of key industries in his first keynote speech of the contest.

The Indian government increased the excise duty on petrol and diesel by ₹10 and ₹13 per litre respectively, hoping to mop up ₹1.6 lakh crore this year.As a result of this, tax on petrol and diesel comprises of 70% of the total price per litreWith the crude oil prices at historically low levels, this could help the government reduce the fiscal deficit at a time when the economy has come to a standstill due to the nationwide lockdown.Amid the falling crude prices, the cash-strapped Indian government has increased the excise duty on petrol and diesel by ₹10 and ₹13 per litre respectively. The increase in excise duty has now taken the tax component in the auto fuels to almost 70% and with this, the government hopes to mop up ₹1.6 lakh crore this year.Various state governments across the country

Two tax provisions of the $2 trillion stimulus package could put cash back into small business owners' pockets almost immediately. Most businesses will be eligible to defer payroll taxes and receive tax credits for keeping employees.However, businesses may not be eligible for tax relief if they receive a forgiveable loan through the Paycheck Protection Program.To understand how business owners can take advantage of these programs Business Insider reviewed IRS guidelines and spoke with a small business advisor at Wiss & Co. accounting firm. Click here for more BI Prime content.Businesses that have been forced to close, limit operations, and lay off employees during the coronavirus pandemic have several lifelines available to them, two of which are tax-related and could put cash back in their

Republican Sens. Marco Rubio and Bob Corker said Friday that they will support their party's $1.5 trillion tax bill. But the 'Johnson Amendment' is here to stay.

Far better if this short-term support becomes the first step on the road to fundamental reform of business rates, which are widely loathed and discredited, writes RUTH SUNDERLAND.

Charlie Sheen is not too pleased with the IRS, who won't let him use a payment plan for his $5.7 million tax bill. The actor claims IRS commissioner John Koskinen is 'abusing his power.'

Griffith University politics lecturer Paul Williams said even a Coalition government would have to consider raising taxes on high income earners to fund job creation programs for COVID-19 victims.

ANDREW PIERCE: Sunak's bold measures to tackle the economic devastation threatened by the coronavirus has found him allies in unexpected places.

Treasury sources said the Chancellor will have to ‘make a decision’ on what to do about business rate relief as it is due to expire next year.

Delivering his first fiscal package since the historic EU referendum vote, the Chancellor insisted the government understands the fury of those who have not shared in the wealth generated by the economy.

Some travel firms are punishing disappointed holidaymakers further, by charging excessive fees or deducting large sums in 'unrecoverable taxes'.

Rishi Sunak said the Government will be increasing the taxes on pollution in a bid to cut down on harmful emissions and encourage energy efficiency.

It is time for the Union Budget 2013. Shankar Jaganathan argues why, in an economy such as India, despite the general public vote against taxes, raising the tax-to-GDP ratio is more critical than restraint in fiscal spending.

New or higher taxes are justified only when the economy is booming, the former finance minister said.

New or higher taxes are justified only when the economy is booming, the former finance minister said, dubbing the imposition of taxes as "cruel".

In this edition of Big Story, Moneycontrol#39;s Sakshi Batra shares her insight on how states are imposing alcohol taxes to generate revenues.

Terming it as an "irresponsible" act, the ministry distanced itself from the report.

Direct Taxes Code

Australia