2024 Tax Policy Reforms Report: Trends in VAT, Carbon Taxes, and Excise Duties

• OECD released Tax Policy Reforms 2024 report on 30 September 2024
• Report provides comparative information on tax reforms, tracks policy developments, and outlines recent trends
• VAT relief measures for energy products slowing down, some jurisdictions scaling back relief
• Standard VAT rate increased in six jurisdictions in 2023
• VAT system being used to encourage transition to lower-carbon economies
• Several jurisdictions increased carbon taxes
• High-income and upper-middle-income jurisdictions increased excise taxes on tobacco, alcohol, sugar-sweetened beverages, and gambling

Source: taxathand.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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