The thesis here is that inconsistent tax accounting rules undermine the individual income tax, and the best available move for improving it — given the unassailability of the realization principle — is to eliminate its accrual (and quasi-accrual) features. Specifically, the agenda is to...

Addressing the buildup of nonperforming loans (NPLs) in Italy since the global financial crisis will remain a challenge for some time and be important for supporting a sustained, robust economic recovery. The buildup reflects both the prolonged recession as well as structural factors that have...

In this paper we examine two aspects of the temporary increase in the UK Annual Investment Allowance (“AIA”) maximum, allowance, raised from £200,000 to £1m for the calendar years 2019 and 2020 by UK Finance Act 2019 section 32 and Schedule 13. First we scrutinize the technical operation...