Designing Interest and Tax Penalty Regimes
Title | Designing Interest and Tax Penalty Regimes PDF eBook |
Author | Mr.Christophe J Waerzeggers |
Publisher | International Monetary Fund |
Pages | 20 |
Release | 2019-03-18 |
Genre | Business & Economics |
ISBN | 1498302017 |
Nearly all tax systems have some form of interest and tax penalty regimes. Interest payable on any late or underpayment of tax seeks to protect the present value of the tax amount to the government budget, whereas penalties are intended to deter taxpayers from defaulting on their tax obligations—and to punish them if they do—to achieve horizontal equity vis-à-vis compliant taxpayers. As interest and penalties serve very different objectives, they should not be applied in a mutually exclusive manner. This Tax Law IMF Technical Note focuses on the key issues that should be taken into consideration in designing interest and penalty regimes in tax legislations.
Designing Interest and Tax Penalty Regimes
Title | Designing Interest and Tax Penalty Regimes PDF eBook |
Author | Mr.Christophe J Waerzeggers |
Publisher | International Monetary Fund |
Pages | 20 |
Release | 2019-03-19 |
Genre | Business & Economics |
ISBN | 149830351X |
Designing Interest and Tax Penalty Regimes
Designing a Tax Administration Reform Strategy
Title | Designing a Tax Administration Reform Strategy PDF eBook |
Author | Ms.Katherine Baer |
Publisher | International Monetary Fund |
Pages | 37 |
Release | 1997-03-01 |
Genre | Business & Economics |
ISBN | 1451980396 |
Building on previous FAD work in the tax administration field, this paper defines broad criteria for diagnosing the problems in a country’s tax administration and formulating an appropriate reform strategy. To be effective, this strategy should be based on the size of the tax gap and the country’s particular circumstances. This paper discusses some guiding principles which have provided the basis for successful reforms, including: reducing the tax system’s complexity, encouraging taxpayers’ voluntary compliance, differentiating the treatment of taxpayers by their revenue potential, and ensuring the reform’s effective management. Also discussed are specific bottlenecks that hinder the effectiveness of the tax administration’s operations.
Introducing an Advance Tax Ruling (ATR) Regime
Title | Introducing an Advance Tax Ruling (ATR) Regime PDF eBook |
Author | Mr.Christophe J Waerzeggers |
Publisher | International Monetary Fund |
Pages | 14 |
Release | 2016-05-31 |
Genre | Business & Economics |
ISBN | 1513511610 |
Advance tax rulings are a common feature of mature tax systems. The tax systems of the United States, the United Kingdom, the Netherlands, Germany, Australia, and South Africa all have established ruling practices. Taxpayers can obtain an advance tax ruling in nearly all OECD member countries. Increasingly, many non-OECD countries are also offering advance tax rulings. An advance tax ruling regime seeks to promote clarity and consistency regarding the application of the tax law for both taxpayers and the tax authority. However, there are also inherent risks associated with the proliferation of granting confidential advance tax rulings which are not published or otherwise reported. This Tax Law IMF Technical Note focuses on designing an advance tax ruling regime in the nature of private tax rulings.
Introducing a General Anti-Avoidance Rule (GAAR)
Title | Introducing a General Anti-Avoidance Rule (GAAR) PDF eBook |
Author | Mr.Christophe J Waerzeggers |
Publisher | International Monetary Fund |
Pages | 12 |
Release | 2016-01-31 |
Genre | Business & Economics |
ISBN | 1513515829 |
Tax avoidance continues to attract attention globally with strong support for tax law reform at all levels. This Tax Law IMF Technical Note focuses on some of the key design and drafting considerations of one specific legal instrument (being, a statutory general anti-avoidance rule (GAAR)) which is often considered by authorities to combat unacceptable tax avoidance practices. A GAAR is typically designed to strike down those otherwise lawful practices that are found to be carried out in a manner which undermines the intention of the tax law such as where a taxpayer has misused or abused that law. However, the objective of combating unacceptable tax avoidance can itself make the legal design of a GAAR complex. This is simply because the phrase “tax avoidance” means different things to different people. Whatever the form of a GAAR, it should give effect to a policy that seeks to strike down blatant, artificial or contrived arrangements which are tax driven. However, the GAAR should be designed and applied so as not to inhibit or impede ordinary commercial transactions. This Tax Law IMF Technical Note discusses and explores how drawing a line between those arrangements which should be caught by the GAAR is a matter of degree and can be delicate.
Managing Income Tax Compliance through Self-Assessment
Title | Managing Income Tax Compliance through Self-Assessment PDF eBook |
Author | Andrew Okello |
Publisher | International Monetary Fund |
Pages | 38 |
Release | 2014-03-11 |
Genre | Business & Economics |
ISBN | 1475525699 |
Modern tax administrations seek to optimize tax collections while minimizing administration costs and taxpayer compliance costs. Experience shows that voluntary compliance is best achieved through a system of self-assessment. Many tax administrations have introduced self-assessment principles in the income tax law but the legal authority is not being consistently applied. They continue to rely heavily on “desk” auditing a majority of tax returns, while risk management practices remain largely underdeveloped and/or underutilized. There is also plenty of opportunity in many countries to enhance the design and delivery of client-focused taxpayer service programs, and better engage with the private sector and other stakeholders.
Study of Present-law Penalty and Interest Provisions as Required by Section 3801 of the Internal Revenue Service Restructuring and Reform Act of 1998 (including Provisions Relating to Corporate Tax Shelters)
Title | Study of Present-law Penalty and Interest Provisions as Required by Section 3801 of the Internal Revenue Service Restructuring and Reform Act of 1998 (including Provisions Relating to Corporate Tax Shelters) PDF eBook |
Author | |
Publisher | |
Pages | 332 |
Release | 1999 |
Genre | Law |
ISBN |