The Conservatives’ manifesto relies on efficiency savings, welfare cuts and a crackdown on tax evasion.
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Tax evasion crackdowns, efficiency savings and welfare cuts are easy political sells – but getting these measures to deliver large amounts of revenue is much more difficult.
Hunter Biden embraces his father, President Joe Biden, and his stepmother, Jill, at Biden’s 2021 inauguration.
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Presidents have family drama, like all other people. Hunter Biden is simply the latest example of a family member who has brought negative attention to a president’s administration.
According to an investigation by a consortium of journalists, certain tax practices in banks have led to a loss of revenue of 150 billion euros over 15 years in Europe.
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Lisa Marriott, Te Herenga Waka — Victoria University of Wellington
New Zealand came very close to having an independent sentencing council to help set sentencing guidelines for crimes. For the sake of consistency, it might be time to revive the idea.
South Africa has seen an increase in people who smoke.
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South Africa should start offering whistleblowers monetary compensation in cases where they help identify tax evaders.
Enforcing punishments on proven tax cheats could provide benefits beyond improving compliance to tax laws. Once offenders pay up, billions lost to offshore scandals could be recouped and the tax burden more fairly shared among taxpayers.
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Research suggests punishing tax cheats can re-establish a sense of justice among the general public, so authorities should use their resources to ensure culpable offenders are held accountable.
Marc Tassé, L’Université d’Ottawa/University of Ottawa
Highly compensated ‘enablers’ such as financial experts, lawyers, accountants, notaries, estate agents and company service providers are assisting oligarchs, dictators and criminals around the world.
Under the uncertain economic conditions of the pandemic, a voluntary disclosure program for overseas income could protect New Zealand’s small businesses — and promote tax honesty at the same time.
Technology has been key in tackling fraud.
Mpedigree
Some 10,000 people are likely to give up their US passport this year, way above average. Are they fleeing COVID-19? Nasty politics? Taxes? None of the above, says an expert on American citizenship.
Europe remains by far the leader in the global trade of pharmaceuticals.
Loïc Venance/AFP
The Covid-19 pandemic has laid bare Europe’s vulnerability to drug-supply disruption. Still, it remains by far the world leader in pharmaceutical products.
Tax reforms generally imply a trade-off between average income and inequality.
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Nicolas Herault, The University of Melbourne; John Creedy, Te Herenga Waka — Victoria University of Wellington, and Norman Gemmell, Te Herenga Waka — Victoria University of Wellington
At 33%, New Zealand’s highest income tax rate is relatively low compared to other economies. Lifting it and cutting tax for low-income earners could improve welfare.