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Growing populations and economies have increased the public's
awareness that the world's environmental resources are finite. The
issues of global warming and the depletion of the ozone layer have
given universal significance to what were once local and regional
pollution problems. What is evident from Public Economics and the
Environment in an Imperfect World is that Coasian negotiations fail
to internalize the costs of environmental degradation, often
calling for public intervention through the market mechanism. In
its consideration of such issues the book includes contributions on
assessment problems, institutional aspects, the need for
coordination and efficiency, and distribution issues.
The papers in this volume review and evaluate the wave of income
tax reforms that have taken place in the industrial world over the
last five years. The key issues which are singled out include the
effect of the income tax on labor supply, the tax unit, the
relationship with social security taxes, the taxation of capital
income, international issues and the political economy of income
taxation. Special attention is given to the choice between income
and consumption as the appropriate tax base on efficiency and
horizontal equity grounds.
The results of the work of the Conference on Tax Coordination in
the European Community appear at a time when the Community has
undertaken, as a priority task, the completion of the internal
market. The Commission's programme and proposed timetable for the
achievement of that goal are spelt out in the White Paper, which
was endorsed by the European Council at Milan in June 1985, an
endorsement which was repeated at the Council's subsequent meeting
in Luxemburg in December 1985. The Commission wholly endorses the
views of the Conference as regards the need for urgent action to
remove the grave restrictions on the free movement of the factors
of production which continue to exist within the Community. It is
the Commission's firm view that only a true dismantling of fiscal
frontiers can permit the creation of an area without internal
frontiers for which the Single European Act provides. To that end a
certain approximation of rates of indirect taxation is
indispensable if unacceptable distortion of competition is to be
avoided. It is noteworthy that the Conference attaches great
importance to the Community's problems in the field of direct
taxation. This work will be particularly useful to the Commission,
which intends to produce a further White Paper on company taxation
in the near future. As the Conference rightly notes, action in this
field is important for equalisation of the conditions of
competition necessary for the completion of the internal market.
Growing populations and economies have increased the public's
awareness that the world's environmental resources are finite. The
issues of global warming and the depletion of the ozone layer have
given universal significance to what were once local and regional
pollution problems. What is evident from Public Economics and the
Environment in an Imperfect World is that Coasian negotiations fail
to internalize the costs of environmental degradation, often
calling for public intervention through the market mechanism. In
its consideration of such issues the book includes contributions on
assessment problems, institutional aspects, the need for
coordination and efficiency, and distribution issues.
Serious research into the causes and implications of an aging
population is a relatively recent phenomenon. Though several
relevant issues of aging havereceived considerable attention in
public and political discussions (especially in European countries
and in Japan), the economics profession is somewhat lacking behind.
This is particularly true for thetheoretical underpinnings of the
economics of population aging. Until now, the aging-debate is
primarily led by institutionalists. The present book with its
analytical and econometric studies on fiscal implications of
population aging is an important step in the process of theoretical
analysis of aging. It is of interest both for population economists
(and demographers) and for public economists - providing a bridge
between these areas of research.
The Dutch tax system distorts economic decisions, treats equal
economic positions unequally for tax purposes, and is
extraordinarily complex. Following in the footsteps of the Mirrlees
Review, prominent economists from academia and the policy arena, at
home and abroad, provide independent, evidence-based analyses of
the system's shortcomings, as well as detailed proposals for
reform. Tax by Design for the Netherlands spans the whole spectrum
of taxes on labor and capital income, profits, consumption, wealth,
inheritance, and charges to correct for market and individual
failure, including the environment.
Following the introduction of the euro, the European Union has started to debate the desirability and feasibility of more co-ordination in the field of capital income taxation, but a broad, tax-policy type of discussion is lacking. The papers in this volume fill this void, addressing the question of whether and where capital income should be taxed, the issues that arise in taxing equity income and imposing a withholding tax on interest, specific comprehensive proposals for taxing capital income in open economies, and the difficulties of and alternatives to maintaining separate corporate income taxes in the EU.
Excise taxes on smoking, drinking, gambling, polluting, and driving
are always topical and controversial. Not only are these taxes
convenient sources of government revenue, they can also be designed
to reflect the external costs that consumers or producers of
excisable products impose on other people. Global warming, acid
rain, traffic congestion, and the economic costs of cigarette and
alcohol consumption are problems that can be corrected through
selective excise taxes and other regulatory instruments. Excise
taxes, moreover, are increasingly looked upon as revenue
substitutes for distortionary taxes on capital and labour.
Addressing these and other issues, this book by internationally
recognized experts analyses the art of excise taxation, providing a
systematic, insightful, and often provocative treatment of a major
fiscal instrument that policy-makers often neglect, and that gets
little attention in the professional literature. It provides a
sound understanding, not only of relevant economic theory, but of
the myriad institutional details that are crucial for the practical
application of that theory.
Most African countries are in dire need of more tax revenue. In 28
out of 45 countries with a value-added tax (VAT), total tax revenue
as a percentage of GDP is around 15% or less, falling short of what
is necessary to finance basic human and economic development. Far
from being revenue-raising instruments, current African VATs are
riddled with exemptions, exclusions, and zero rates on domestic
goods and services that depress revenue, are highly distortionary,
and greatly complicate the administration of VAT. Modernizing VATs
in Africa enables policymakers, professionals, and students to
analyse African tax systems to ascertain how they can be
modernized. It explains the case for VAT base-broadening over
rate-increasing, arguing that exemptions and zero rates mainly
accrue benefits for higher-income groups. Even more persuasively,
it demonstrates that the net result of fiscal systems can be
equalizing if the revenue of broad-based VATs is used to finance
in-kind transfers, such as healthcare and education. VAT
modernization should be used to enable governments to finance
development; Modernizing VATs in Africa puts a compelling case
forward for how and why this can be achieved.
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