2024-10-16-LACER-征收财富税以促进公平与增长_109页_7mb

报告摘要

Summary of "Taxing Wealth for Equity and Growth" Report

The report explores Latin America and the Caribbean's (LAC) economic challenges and suggests wealth taxation as a potential tool for improving equity and fiscal space.

Overview of Key Challenges

The LAC region is seeing declining inflation and improving economic prospects.
However, fiscal imbalances, high debt levels, and limited public investment hinder sustainable growth.
Corporate tax rates in LAC are among the highest globally, potentially deterring domestic and foreign investment.
Structural factors discourage nearshoring and green transition opportunities.
Nearshoring has had minimal impact on foreign direct investment (FDI) inflows to LAC.

Revenue Generation and Tax Reforms

Taxing wealth, particularly property, offers a viable revenue source due to the prominence of real estate as a form of wealth.
LAC countries currently collect very little property tax revenue relative to their LAC wealth (about 2% of total revenues).
Examples from countries like Uruguay and Colombia show progress in improving tax systems, though challenges remain in valuation and enforcement.
Subnational property taxes can reduce vertical fiscal imbalance by generating local revenues and limiting dependence on central transfers.

Environmental Applications

Rural land taxes can incentivize sustainable land use, mitigate deforestation, and promote environmental conservation.
Such taxes disincentivize land hoarding and ensure productive use, aligning with climate goals.

Billionaire Tax Considerations

Proposed taxes on billionaires have limited revenue potential in LAC due to the small number of billionaires and their overall wealth relative to other regions.
High mobility of billionaires makes such taxation challenging to administer effectively.
This agenda complements broader tax reforms rather than being a standalone solution.

Conclusion

Greater reliance on property taxes can enhance equity, stimulate growth, and expand fiscal space.
Administrative reforms, improved valuation systems, and progressive tax design are essential for implementing success.
A comprehensive reevaluation of tax systems, beyond traditional income-based taxes, is necessary for achieving equity and growth objectives in LAC.

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