Pace of tax reform has 'slowed', OECD finds

10 Sep 2019

A new report published by the Organisation for Economic Co-operation and Development (OECD) has found that the pace of tax reform has 'slowed across multiple economies'.

The report suggested that fewer countries have introduced comprehensive tax reform packages in 2019 compared to previous years.

According to the OECD, corporate tax rate cuts have 'continued across countries', but they have proved to be 'less significant' than the ones implemented in 2018.

A number of countries have continued to lower personal income taxes, the report found. It also revealed that some countries have expanded tax incentives in order to support pension savings and small savers.

'At a time when countries are facing many significant challenges, such as weakening economic growth, ageing populations, income and wealth inequality, and the changing nature of work and climate change, the appetite for growth-enhancing, structural tax reforms seems to be waning,' said Pascal Saint-Amans, Director of the OECD's Centre for Tax Policy and Administration.

'In the face of these challenges, it is clear that bolder action is needed.'

Home | Contact us | Site map | Accessibility | Disclaimer | Help |

© 2024 Penn Management Services. All rights reserved. | Company Number: 03655701

Penn Management Services, 1 & 2 Heritage Park, Cannock, Staffordshire WS11 7LT
We use cookies on this website, you can find more information about cookies here.

In accordance with the disclosure requirements of the Services Regulations 2009, our professional indemnity insurer is Allied World Assurance Company (Europe) Limited, of 20 Fenchurch Street, 18th and 19th Floors, London EC3M 3BY. The territorial coverage is worldwide excluding professional business carried out from an office in the United States of America or Canada and excludes any action for a claim brought in any court in the United States of Amercia or Canada.

We are registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales and details about our audit registration can be viewed at www.auditregister.org.uk, under reference number C008875364.