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Business Tax Compliance and Complexity Archive

Aligning Kentucky’s Tax Code for Growth

TweetShareSharePin0 Shares Executive Summary Overview Tax reform has been on Kentucky lawmakers’ minds for years, and while significant progress has been made recently, substantial work remains to be done. In 2018, the General Assembly made important strides in creating a more neutral, pro-growth tax structure even while generating a net increase in revenue. With its

2022 Norway Budget Tax Proposals

TweetShareSharePin0 Shares Norway’s new center-left government that took power on October 14 has set out its 2022 budget proposals, amending the 2022 budget proposal announced last month by the outgoing conservative government. The new budget comes with several tax cuts and a handful of tax hikes. While the new proposal cuts indirect taxes by $270

Maryland Digital Advertising Tax Regulations: Tax Foundation Comments

TweetShareSharePin0 Shares Note: The following comments were submitted to the Maryland’s Comptroller’s office on November 8th, 2021 regarding the regulation of Maryland’s Digital Advertising Tax. The Maryland digital advertising tax, applied to gross revenue derived from digital advertising services, has a rate escalating from 2.5 percent to 10 percent of the advertising platform’s assessable base

Germany Tax System: Competitiveness Rankings

TweetShareSharePin0 Shares On the heels of Halloween, leaders of the world’s 20 biggest economies endorsed a global minimum tax of 15 percent on large multinational corporations. The minimum tax, signed in Rome and announced by the Organisation for Economic Co-operation and Development (OECD), is intended to curb profit shifting and limit tax rate competition between

Oklahoma Tax Reform Options Guide

TweetShareSharePin0 Shares Executive Summary Overview Oklahoma policymakers have been focused on tax reform for many years, always keeping an eye on the state’s neighbor to the south. Legislators succeeded in reducing rates for both individual and corporate income taxes, but Oklahoma is far from alone in this pursuit. In an increasingly mobile economy, states are

Alternative Minimum Tax, Tax on Unrealized Capital Gains

TweetShareSharePin0 Shares Tax reform should simplify the tax code. Instead, Congress is debating new ways to raise revenue that would make the tax code more complex and more difficult to administer. The new proposals—imposing an alternative minimum tax on corporate book income, applying an excise tax on stock buybacks, and, at one point this week,

2021 Election Results | 2021 Ballot Measures

TweetShareSharePin0 Shares Election Day will be a modest affair in 2021, perhaps a welcome respite from the inflamed politics of recent years. Despite few statewide races, however, voters in some states will decide important questions by ballot measure. Of particular note, through 10 ballot measures across four states—Colorado, Louisiana, Texas, and Washington—voters will decide significant

2021 International Tax Competitiveness Index

TweetShareSharePin0 Shares The 2021 version of the International Tax Competitiveness Index is the eighth edition of that report. Over the years, many different researchers at the Tax Foundation have worked on the report, several new members of the Organisation for Economic Co-operation and Development (OECD) have been added, and various methodological changes have taken place.

IRS Reporting Proposal Misses the Mark

TweetShareSharePin0 Shares The Biden administration’s proposal to require financial institutions to report inflows and outflows of more than $600 from bank accounts has attracted significant attention. The Treasury Department believes it could generate $463 billion in revenue over 10 years by giving the IRS more insight into certain types of income that members of the

Don’t Copy European Drug Pricing Policies that Reduced R&D Innovation

TweetShareSharePin0 Shares U.S. companies succeed and maintain their success by engaging in research & development (R&D) that results in innovative products and services reaching customers around the world. But U.S. policies that create tax or regulatory penalties, such as the drug pricing and excise tax proposal lawmakers are considering in the reconciliation package, can curtail
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