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Fiscal Devaluation and Fiscal Consolidation
Ruud A. de MooijMr.Michael Keen
其他書名
The VAT in Troubled Times
出版International Monetary Fund, 2012-03-01
主題Business & Economics / Taxation / GeneralBusiness & Economics / Exports & ImportsBusiness & Economics / Economics / Macroeconomics
ISBN14755024869781475502480
URLhttp://books.google.com.hk/books?id=BVMZEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋This paper focuses on two core tax design issues that arise in addressing current fiscal challenges. It first explores the idea, prominent in troubled Eurozone countries, of a "fiscal devaluation": shifting from social contributions to the VAT as a way to mimic a nominal devaluation. Empirical evidence is presented which suggests that in Eurozone countries this may indeed improve the trade balance in the short-run, though, as theory predicts, the effects eventually disappear. The paper then assesses the wider scope for VAT reform in meeting fiscal consolidation needs, developing and beginning to apply a methodology for finding additional VAT revenue in ways less distortionary and fairer than further raising the standard rate.