Policy Outcome: Smart Taxation in a Fast-Changing Global Economy
Taxation has become a burning topic in today’s global policy context, as show the initiatives of the OECD’s Centre for Tax Policy supported by the G20. To help solve global economic challenges, support growth and at the same time taking into consideration national needs, we need a smart taxation system. The first question which comes out is: what do we mean by “smart” taxation? To answer, we must first look at what principles tax policies should consider when addressing today’s actual context and future challenges: sustainability, efficiency, fairness, transparency, predictability, enforceability and growth-enabling. The Focus Group concentrated on what are we looking for in taxation in the European Union and how to achieve that in an environment where free flow of goods, services and capital needs to be guaranteed, while ensuring social fairness.
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