Paying Taxes 2011 : The Global Picture
Taxes are the price you pay for civilization. Taxes provide government revenues, and those who pay them have a stake in the system and in how government spends its money. Taxes are lifeblood of a stable and prosperous society. In the wake of the gl...
Main Authors: | , , |
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Language: | English en_US |
Published: |
World Bank, Washington, DC
2017
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Subjects: | |
Online Access: | http://documents.worldbank.org/curated/en/690821468168840299/Paying-taxes-2011-the-global-picture http://hdl.handle.net/10986/27457 |
Summary: | Taxes are the price you pay for
civilization. Taxes provide government revenues, and those
who pay them have a stake in the system and in how
government spends its money. Taxes are lifeblood of a stable
and prosperous society. In the wake of the global economic
downturn levying tax in even more difficult. With large
structural deficits in the big developed economies, fiscal
policy has never been under so much public scrutiny. While
there is a clear expectation that economies will need to
raise taxes as well as making spending cuts, they will need
to remain cautious in how they raise taxes to ensure that
recovery is not stifled. For developing economies, with cuts
in aid budgets, tax revenues may prove to be a more
sustainable source of financing. But challenges remain in
terms of combating capital flight. Reducing the size of the
informal economy and helping tax authorities to monitor
compliance and collect taxes. |
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