29-April-2015
English
Colombia has engaged in a sustained process of fiscal decentralisation over the past decades. Evidence is presented that the current framework is conducive to fiscal sustainability, especially after the reforms in the late 1990s and early 2000s.
21-April-2015
English
The Colombian corporate tax system is highly complex and distortive. The effective tax burden on businesses is very high due to the combined effect of the corporate income tax, the corporate surtax introduced in 2012 (CREE), the net wealth tax on business assets and the value added tax (VAT) on fixed assets.
21-April-2015
English
Despite progress in the past decade, financial markets in Colombia remain relatively small and shallow. In particular the banking system suffers high intermediation costs, which limit constrains access to finance by households and firms.
8-April-2015
English
This review particularly recommends shifting away from income taxation to indirect taxation, for instance by raising more revenue from the Goods and Services Tax.
8-April-2015
English
The government’s current review of the federal system, focusing on both spending and tax responsibilities, is welcome, as is the “whole of government” approach to the process.
17-December-2014
English
This paper estimates the elasticities of government revenue and expenditure items with respect to the output gap for European Union (EU) countries. These elasticities are used by the European Commission, as part of the EU fiscal surveillance process, to calculate the semi-elasticity of the budget balance as a percentage of GDP with respect to the output gap.
18-September-2014
English
Turkey recovered swiftly from the global financial crisis but sizeable macroeconomic imbalances arose in the process.
19-August-2014
English
This study aims to assess the degree of institutional fragmentation of transport and land use planning in Chicago. It provides an overview of local governments in metropolitan Chicago and mechanisms for coordination. Five main challenges are identified.
24-July-2014
English
This study analyses the economic rent generated by the exploitation of a non-renewable resource, and the taxation of this rent.