A historic global minimum tax has been agreed! But has it? by Michael P. Devereux, John Vella published by Oxford University (7/2021)
“A strict and robust minimum tax adopted by a critical mass of countries would help to address two significant problems of the international tax system: profit shifting by multinationals and tax competition amongst countries.
The challenge is to persuade a critical mass of countries to properly implement and administer such a tax. As we have argued in the past, this is a “tall order” because of the incentives faced by individual countries. The OECD should be congratulated both for its technical work and its diplomacy in bringing 132 countries to an agreement on July 1. However, despite the fanfare surrounding the agreement, at this point in time we still don’t know if the challenge will be met…”
A Book Review: Rebellion, Rascals, and Revenue: Tax Follies and Wisdom Through the Ages published by Public Financial Management Blog (6/2021)
“The authors of this unusual and stimulating book[2] note that “tax stories from the past … can be entertaining, sometimes in a weird way, sometimes in a gruesome one, and sometimes simply because they are fascinating in themselves”. The book is long (more than 500 pages), comprehensively researched (over 1000 references) and – a pleasant throwback to the past – devoid of any charts or tables (or equations!). Its anecdotes cover the period from ancient Sumer and Rome through modern times to a look at what the future may bring. Tax policies and design as well as tax administration are covered. The book pays tribute to the path-breaking work of economists such as Malthus, Ricardo (on tax incidence), Pigou (on correcting for externalities), and Frank Ramsey (who pioneered the mathematics of tax design)…”
