On June 23rd we have discussed our latest report “Global taxes in the post-COVID-19 era” with Alex Cobham, chief executive, Tax Justice Network.
The COVID-19 pandemic has strained not only health systems, but public budgets as well. During the last year deficits have skyrocketed as states were struggling to protect their economies from negative consequences of pandemic. Most states around the world have little fiscal space to further grow their debts exponentially. Therefore, there will be a growing need to introduce new taxes.
In our report we describe three global challenges and present how they could be addressed through tax solutions. Countries around the globe could collect around $695 bn if those taxes were to be introduced. Such revenues would i.e. be sufficient to achieve United Nations’ Sustainable Development Goals (SDG) related to energy access and efficiency or would suffice to vaccinate every adult around the globe 4 times.
The introduction of global wealth tax, global climate tax and a global minimum CIT rate would result in annual revenues of USD 289 billion, USD 279 billion and USD 127 billion respectively.
— Polski Instytut Ekonomiczny (@PIE_NET_PL) June 23, 2021
We have discussed the report with Alex Cobham, chief executive, Tax Justice Network.
The report was presented by Łukasz Błoński, analyst of PEI’s strategy team.
Moderation by Agnieszka Wincewicz-Price, head of PEI’s behavioural economics team.
Introductory remarks by Piotr Arak, director of the Polish Economic Institute.
Watch the full recording below: