Download or read book Taxing Windfall Profits in the Energy Sector written by Mr. Thomas Baunsgaard and published by International Monetary Fund. This book was released on 2022-08-30 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The surge in fossil fuel prices in 2022 has generated substantial windfall profits in the energy sector. Policymakers in many countries are exploring policies to tax part of these profits. Excess profits can be taxed by tax instruments targeted at economic rents that avoid discouraging investment and limit any impact on further price increases. Many fossil fuel producing countries already have an adequate rent-capturing fiscal instrument in place. Others may consider introducing a permanent tax on windfall profits from fossil fuel extraction but should be more cautious about temporary and possibly poorly designed windfall profit taxes. Given the importance of encouraging decarbonatization of energy generation, it seems counter-intuitive to introduce exceptional tax measures on renewable electricity generation.
Download or read book Energy Taxation written by United States. Congress. Joint Committee on Internal Revenue Taxation and published by . This book was released on 1974 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Windfall Profits Tax and Energy Trust Fund written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1979 with total page 812 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Summary of Testimony on the Proposed emergency Windfall Profits Tax written by United States. Congress. Joint Committee on Internal Revenue Taxation and published by . This book was released on 1974 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Oil Windfalls written by Alan H. Gelb and published by Oxford University Press. This book was released on 1988 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book assesses the full impact of oil windfalls on six developing producer countries - Algeria, Ecuador, Indonesia, Nigeria, Trinidad and Tobago, and Venezuela. This is the first time that the issue has been systematically analysed and related to economics policies and underlying macroeconomic characteristics. The book adopts a broad approach, blending institutional and political aspects with quantitative analysis which includes the results of sophisticated model simulations. It presents new information on how oil discoveries have been used by producer governments, and analyses of the consequences. Finally it concludes that much of the potential benefit to producers has been dissipated, and explains why producers may actually end up worse off despite revenue gains.
Download or read book The Windfall Profits Tax written by United States. Congressional Budget Office and published by . This book was released on 1979 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Energy Subsidy Reform written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2013-09-13 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: Energy subsidies are aimed at protecting consumers, however, subsidies aggravate fiscal imbalances, crowd out priority public spending, and depress private investment, including in the energy sector. This book provides the most comprehensive estimates of energy subsidies currently available for 176 countries and an analysis of “how to do” energy subsidy reform, drawing on insights from 22 country case studies undertaken by the IMF staff and analyses carried out by other institutions.
Download or read book Oil to Cash written by Todd Moss and published by CGD Books. This book was released on 2015-06-10 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil to Cash explores one option to help countries with new oil revenue avoid the so-called resource curse: just give the money directly to citizens. A universal, transparent, and regular cash transfer would not only provide a concrete benefit to regular people, but would also create powerful incentives for citizens to hold their government accountable. Oil to Cash details how and where this idea could work and how policymakers can learn from the experiences with cash transfers in places like Mexico, Mongolia, and Alaska.
Download or read book Sustainable Finances and the Law written by Rute Saraiva and published by Springer Nature. This book was released on with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Excess Profit Taxes Historical Perspective and Contemporary Relevance written by Mr. Shafik Hebous and published by International Monetary Fund. This book was released on 2022-09-16 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the design of excess profits taxes (EPTs) that gained renewed interest following the COVID-19 outbreak and the recent surge in energy prices. EPTs can be designed as an efficient tax only falling on economic rent, like an allowance for corporate capital, and drawing some parallels with current proposals for reforming multinationals’ taxation. EPTs can be permanent or temporary as an add-on to the corporate income tax to support revenue during an adverse shock episode. The latter reflects experiences with EPTs during and after the World Wars. Different from that era, though, profit shifting is now a challenge. Estimation using firm-level data suggest that, at present, locations of excess profit across countries are consistent with profit shifting practices by multinationals. Destination-based EPTs can address this concern. Estimates suggest that a 10 percent EPT on the globally consolidated accounts of multinationals (on top of the current corporate income tax), with the EPT base being allocated using sales, raises global revenue by 16 percent of corporate income tax revenues. The analysis suggests that international coordination would be desirable to mitigate the risks of profit shifting and tax competition. Eventually, EPTs could mark an evolution of corporate taxation toward a non-distortionary rent tax.
Download or read book Global Implications of Lower Oil Prices written by Mr.Aasim M. Husain and published by International Monetary Fund. This book was released on 2015-07-14 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is expected to persist into the medium term, although there is large uncertainty, (iii) lower oil prices will support global growth, (iv) the sharp oil price drop could still trigger financial strains, and (v) policy responses should depend on the terms-of-trade impact, fiscal and external vulnerabilities, and domestic cyclical position.
Download or read book Tax policy in the energy sector International financial aspects of the energy problem written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1975 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book U S Investment Since the Tax Cuts and Jobs Act of 2017 written by Emanuel Kopp and published by International Monetary Fund. This book was released on 2019-05-31 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is no consensus on how strongly the Tax Cuts and Jobs Act (TCJA) has stimulated U.S. private fixed investment. Some argue that the business tax provisions spurred investment by cutting the cost of capital. Others see the TCJA primarily as a windfall for shareholders. We find that U.S. business investment since 2017 has grown strongly compared to pre-TCJA forecasts and that the overriding factor driving it has been the strength of expected aggregate demand. Investment has, so far, fallen short of predictions based on the postwar relation with tax cuts. Model simulations and firm-level data suggest that much of this weaker response reflects a lower sensitivity of investment to tax policy changes in the current environment of greater corporate market power. Economic policy uncertainty in 2018 played a relatively small role in dampening investment growth.
Download or read book Clean Energy and Jobs written by James P. Barrett and published by . This book was released on 2002 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Japan s Corporate Income Tax written by Ruud A. de Mooij and published by International Monetary Fund. This book was released on 2014-08-04 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how corporate income tax reform can help Japan increase investment and boost potential growth. Using international and Japan-specific empirical estimates of corporate tax elasticities, investment is predicted to expand by around 0.4 percent for each point of rate reduction. International consensus estimates suggest further that between 10 and 30 percent of the static revenue loss could be recovered in the long run through dynamic scoring, although Japan’s offset may be closer to the lower bound. Compensating fiscal measures are necessary in light of Japan’s tight fiscal constraints. The scope for base broadening in the corporate income tax is found to be limited and some forms of base broadening will undo positive investment effects of a rate cut. Alternative revenue sources include higher consumption and property taxes. A gradual approach toward lowering tax rates mitigates windfall gains and reduces short-run revenue costs. An incremental allowance-for-corporate-equity system could boost investment with limited fiscal costs in the short run.
Download or read book Tax Policy Reforms 2023 OECD and Selected Partner Economies written by OECD and published by OECD Publishing. This book was released on 2023-09-13 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the eighth edition of Tax Policy Reforms: OECD and Selected Partner Economies, an annual publication that provides comparative information on tax reforms across countries and tracks tax policy developments over time. The report covers the tax policy reforms introduced or announced in 2022 in 75 member jurisdictions of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting, including all OECD countries.
Download or read book Evaluation of Taxes and Revenues From the Energy Sector in the Baltics Russia and Other Former Soviet Union Countries written by Mr.Dale F. Gray and published by International Monetary Fund. This book was released on 1998-03-01 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the level and structure of fiscal revenues from the Baltics, Russia, and other former Soviet Union countries’ (BRO) energy sector and suggests reforms in energy tax policy. Revenues from the oil and gas sectors are about half the level that might be expected from international comparisons. Low oil revenues result from infrastructure constraints on oil exports, weak tax administration, and inappropriate tax structures. Low gas revenues are due to low statutory tax rates, a tax structure that does not capture monopoly or resource rents, and weak tax administration. Taxation of oil products could be increased.
