have significant fiscal effects. In addition to traditional evidence of tax displacement and 'aid illusion,' we show that … undermine tax capacity and public investment while large reductions in aid inflows tend to keep recipients' tax and expenditure … ratios unchanged. Moreover, the tax displacement effects tend to be temporary while the impact on expenditure items are …

This paper discusses the implications for tax systems of globalization of capital markets and of economies. It shows … this area and on tax competition …

with firm level productivity. We find that fiscal consolidation (i.e., discretionary tax hikes and spending cuts), is … particularly harmful to firm level productivity compared to lower levels of fiscal consolidation. Furthermore, we find that tax …

international tax rules. Around 95 percent of these foreign investments pass through Luxembourg via companies performing holding and … balance sheets, they still generate around 3 percent of GDP in tax revenue, create almost 4500 direct jobs, and spend almost 3 … percent of GDP on salaries and purchases of business services. Ongoing changes in the international corporate tax framework …

This paper discusses the theory and practice of tax design to achieve an efficient and equitable outcome, i.e. in … support of inclusive growth. It starts with a discussion of the key principles from tax theory to guide practical tax design …. Then, it elaborates on more granular tax policy, discussing key choices in the structure of the personal income tax on …

effect on tax revenueperformance, after controlling for economic and institutional factors. This effect is also notrobust to …