For many countries in the Caribbean region, tax policy and tax administration reforms have been a long overdue task. Given the current situation worldwide, the Caribbean countries are now more than ever faced with the critical need to improve their capacity to collect and manage revenues. Achieving this will require the adoption of more efficient and modern institutional … [Read more...] about Winds of Change: An Opportunity to Reform Tax Administration in the Caribbean
Taxes
Tax amnesties in times of COVID: Exceptional measures in exceptional times
Some countries in Latin America and the Caribbean (LAC) are exploring a variety of options in their attempt to collect additional tax revenues to confront the COVID-19 emergency. With a somber forecast ahead, the region´s GDP may contract up to 6% while the fiscal deficit can climb up to 8% by the end of 2020. In this scenario, tax amnesties emerge as a way of generating … [Read more...] about Tax amnesties in times of COVID: Exceptional measures in exceptional times
Access to financial information: a pillar of tax transparency and the fight against fraud
In memory of Francisco Abea Tax administrations, given the nature of their functions, require access to information held by the financial system. Ensuring tax compliance without knowing actual financial flows generates "short-sighted" tax administrations. This motivates them to implement unorthodox procedures to indirectly access information to deploy controls, taxes on … [Read more...] about Access to financial information: a pillar of tax transparency and the fight against fraud
Policy and fiscal management during the pandemic and post-pandemic in Latin America and the Caribbean
As is well known, COVID-19 is highly contagious and has a higher mortality rate among at-risk groups than other similar viruses. In Latin America and the Caribbean (LAC) the first contagion case was registered in late February 2020 and by April 20 the number of people infected was 100,000-plus, with 5,300 dead. Unfortunately, these figures quickly became outdated. The outburst … [Read more...] about Policy and fiscal management during the pandemic and post-pandemic in Latin America and the Caribbean
Subnational governments and coronavirus: five critical actions the IDB is supporting
Subnational governments (SNGs) in Latin America and the Caribbean (LAC) are on the frontline of the coronavirus pandemic. Their proximity to the population and to its needs and demands gives them a prime opportunity to gain early first-hand knowledge of the crisis’s evolution. In the region’s large countries, SNGs are directly responsible for the health response[1], managing … [Read more...] about Subnational governments and coronavirus: five critical actions the IDB is supporting