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OECD annual report on tax policy reforms

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The OECD’s ‘Tax policy reforms’ report for 2018, covering 38 countries, highlights a continuing trend towards corporate tax rate cuts to provide economic stimulus.

The report, which looks at major tax policy trends and recent initiatives, found the trend for lower corporate taxes has continued, driven by tax reforms in countries with traditionally high corporate tax rates. The average corporate income tax rate across the OECD has dropped from 32.5% in 2000 to 23.9% in 2018.

Pascal Saint-Amans, OECD director of tax policy, comments in his editorial: ‘The countries that introduced corporate tax rate cuts in 2018 included some of the countries that had the highest tax rates in 2017. If anything, these countries appear to be engaged in a “race to the average” rather than in a “race to the bottom”, with their recent corporate tax rate cuts now placing them in the middle of the pack. There will be much interest in observing how countries respond to this trend in the future.’

See https://bit.ly/2x0jR8J.

Issue: 1412
Categories: News
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