Increasing Simplicity, Neutrality and Sustainability: A Basis for Tax Reform in Iceland
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...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2001
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| Schriftenreihe: | OECD Economics Department Working Papers
no.292 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | 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 ... |
| Beschreibung: | 1 Online-Ressource (43 p.) 21 x 29.7cm. |
| DOI: | 10.1787/600040410286 |
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| indexdate | 2024-11-26T14:56:01Z |
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| spelling | Herd, Richard VerfasserIn aut Increasing Simplicity, Neutrality and Sustainability A Basis for Tax Reform in Iceland Richard, Herd and Thorsteinn, Thorgeirsson Paris OECD Publishing 2001 1 Online-Ressource (43 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.292 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 ... Economics Iceland Thorgeirsson, Thorsteinn MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/600040410286 Volltext |
| spellingShingle | Herd, Richard Increasing Simplicity, Neutrality and Sustainability A Basis for Tax Reform in Iceland Economics Iceland |
| title | Increasing Simplicity, Neutrality and Sustainability A Basis for Tax Reform in Iceland |
| title_auth | Increasing Simplicity, Neutrality and Sustainability A Basis for Tax Reform in Iceland |
| title_exact_search | Increasing Simplicity, Neutrality and Sustainability A Basis for Tax Reform in Iceland |
| title_full | Increasing Simplicity, Neutrality and Sustainability A Basis for Tax Reform in Iceland Richard, Herd and Thorsteinn, Thorgeirsson |
| title_fullStr | Increasing Simplicity, Neutrality and Sustainability A Basis for Tax Reform in Iceland Richard, Herd and Thorsteinn, Thorgeirsson |
| title_full_unstemmed | Increasing Simplicity, Neutrality and Sustainability A Basis for Tax Reform in Iceland Richard, Herd and Thorsteinn, Thorgeirsson |
| title_short | Increasing Simplicity, Neutrality and Sustainability |
| title_sort | increasing simplicity neutrality and sustainability a basis for tax reform in iceland |
| title_sub | A Basis for Tax Reform in Iceland |
| topic | Economics Iceland |
| topic_facet | Economics Iceland |
| url | https://doi.org/10.1787/600040410286 |
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