English, Article, Journal or magazine article edition: Increasing Simplicity, Neutrality and Sustainability: A Basis for Tax Reform in Iceland Richard Herd; Thorsteinn Thorgeirsson

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Bookmark: http://trove.nla.gov.au/version/136620
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Increasing Simplicity, Neutrality and Sustainability: A Basis for Tax Reform in Iceland
Author
  • Richard Herd
  • Thorsteinn Thorgeirsson
Physical Description
  • preprint
Notes
  • This paper analyses the possibilities for reforming the Icelandic tax system. It puts the current tax structure in its historic context, showing that there has been a steady movement towards simplification. The personal income tax has a lower than average number of bands and, taxes capital income at an unusually low rate. Such a structure favours saving, especially since consumption taxes are particularly high. Nonetheless, there are a number of additional taxes on capital income that serve to raise the overall tax on assets, notably the tax on net wealth. The paper concludes that, if the current budget surplus persists over the medium-term, priority should be given to further reducing corporate taxes and the net wealth tax. At the same time, a number of discriminatory indirect taxes should be replaced by a uniform tax, and the diesel tax reformed. Consideration should also be given to the gradual introduction of a resource tax or to auctioning fishing quotas to help fund the other ... Le présent document analyse les possibilités de réformer le système fiscal islandais. Il replace l’actuelle structure fiscale dans son contexte historique et met en évidence l’existence d’une tendance permanente vers la simplification. Le nombre de tranches de l’impôt sur le revenu des personnes physiques y est inférieur à la moyenne et le taux d’imposition sur le revenu du capital est exceptionnellement faible. Une telle structure favorise l’épargne, d’autant plus que les impôts sur la consommation sont particulièrement élevés. Néanmoins, il existe un certain nombre d’impôts additionnels sur le revenu du capital qui contribuent à élever l’imposition globale sur les avoirs, notamment l’impôt sur l’actif net. Le document conclut que, si l’excédent fiscal devait se maintenir dans le moyen terme, de nouvelles réductions de l’impôt sur les entreprises et sur l’actif net devraient devenir prioritaires. Simultanément, plusieurs impôts indirects discriminatoires devraient être remplacés ...
  • taxation, fiscalité, tax policy, politique fiscale, Iceland, Islande
  • RePEc:oec:ecoaaa:292-en
Language
  • English
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