In Europe, the decline in the corporate tax rates has not been reflected in the tax-to-GDP ratios. This paper explores to what extent the observed trend can be explained by changes in the effective tax burden on corporate income, in the share of total income accruing to the corporate sector and...

This Country Focus assesses the extent to which the recent tax-revenue increases in Cyprus is of a permanent nature or whether is of temporary nature, linked to short lived asset boom. Between 2002 and 2008 the Cypriot economy grew at an annual average rate of about 3½% in real terms,...

In Lisbon the European Council proclaimed a European growth strategy. It considers an average economic u0093growth rate of around 3 percent as a realistic prospect for the coming yearsu0094 and assigns public finances an important role in the process of achieving this goal. This paper addresses...