Over the past two decades, electronic invoicing (e-invoicing) has transformed tax administrations worldwide. This innovative solution was created in Latin America and first launched in 2003 in Chile, and then in Brazil and Mexico. Since then, this digital transformation has significantly increased transparency and tax collection and reduced economic informality in many … [Read more...] about Electronic Invoicing: A Latin American Innovation with Global Reach
Colombia
Leveraging AI to Transform Macroeconomic and Fiscal Policymaking in Latin America and the Caribbean
Macroeconomic and fiscal policy is at the brink of a transformative shift due to the integration of artificial intelligence (AI), which is poised to revolutionize fiscal governance and policy formulation in Latin America and the Caribbean (LAC). The technology’s potential to enhance the precision of economic forecasts, optimize budget allocations, and streamline tax … [Read more...] about Leveraging AI to Transform Macroeconomic and Fiscal Policymaking in Latin America and the Caribbean
First Year of FISLAC: Transforming Fiscal Sustainability in Latin America and the Caribbean
Amid the unprecedented challenges unleashed by the COVID-19 pandemic worldwide, Latin America and the Caribbean (LAC) faced a pressing need: have intelligent tools to anticipate and manage risks threatening the economic and fiscal stability of the region. In response to this need, FISLAC (Fiscal Sustainability for Latin American and Caribbean Countries) was born, an … [Read more...] about First Year of FISLAC: Transforming Fiscal Sustainability in Latin America and the Caribbean
Four Strategies to Make Tobacco Taxation an Effective Tool to Reduce Consumption
Fiscal policy has a key role in reducing tobacco use. According to the WHO FCTC, raising taxes has been one of the most effective measures by far. This is because an increase in taxes, directly affects the price, which in turn makes tobacco products less affordable. Pricier tobacco products have the positive effect of reducing tobacco initiation, prevalence, and consumption. … [Read more...] about Four Strategies to Make Tobacco Taxation an Effective Tool to Reduce Consumption
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