Fairness – and what governments can do about it – is at the forefront of economic and social debate all over the world. In MENA, this has been at the core of recent political transitions but has not been adequately addressed. This SDN explores how tax systems – a critical interface between the state and citizens – can play a role in meeting demands for greater economic fairness in MENA countries. The SDN finds that for countries with well-established non-hydrocarbon tax systems (mostly oil importers) reforms should focus on simplifying tax structures and introducing more progressivity of personal income taxes, broadening tax bases, and better designing and enforcing property taxes. Tax administration should be more efficient and user-friendly while simplifying tax regimes will reduce the scope for arbitrary implementation. MENA countries with less established non-hydrocarbon revenue systems can begin with a “starter pack” that includes introduction of low-rate value-added and corporate income taxes, excises, and property taxes while building up administrative capacity and taxation expertise together with plans for introducing a personal income tax. Across the region, effective communication, transparency, and constructive dialogue between the State and citizens are critical to the success of reforms.
This Selected Issues paper discusses the need to meet Algeria’s fiscal challenges. Although Algeria enjoys substantial fiscal savings, fiscal policy is currently on an unsustainable path. Under current projections, Algeria will deplete its financial savings in the long term, leaving future generations worse off. To restore fiscal sustainability and ensure intergenerational equity, Algeria will need to undertake significant and sustained fiscal consolidation in the coming years. Successful fiscal consolidation will depend on both mobilizing more revenues and rationalizing expenditures. If done right, fiscal consolidation can restore sustainability while minimizing the impact on economic growth and enhancing equity.
At a time when Algeria must undertake considerable fiscal consolidation to restore sustainability, the issue of fiscal multipliers has come to the fore. This paper estimates short-term and long-term fiscal multipliers for Algeria applying several econometric methodologies, including Local Projection Methodology and Vector Autoregressive Models, and using both Algeria-specific and panel data. The paper also explores asymmetries related to the sign of the output gap as well as the direction of spending. The results suggest that (i) average fiscal multipliers for Algeria are generally moderate and below unity; (ii) the impact of public spending shocks is more important when the output gap is negative; (iii) fiscal spending multipliers are significantly larger during spending contraction than expansion; (iv) procyclicality in public spending does not appear to affect output, except for capital spending cuts when the output gap is negative; and (v) while multipliers associated with countercyclical public spending can be sizeable, a contraction in current spending does not materially affect non-oil GDP.
Waite and Jewell: Environmental Law in Property Transactions provides a comprehensive practitioner guide to the environmental issues that arise in property transactions. It is divided into three key sections: 1. Commentary and guidance on the property transaction and identifies where the environmental issues might occur. 2. Broader discussion and explanation of specific environmental law issues that the practitioner needs to know about. 3. Provision of precedents to assist the busy property lawyer. This edition will give a general update following the last edition in 2009 and covers the Green Deal, Climate Change Regulations and the significant number of Environmental Permitting Regulations and Waste Regulations that have amassed since the last edition. Also includes a whole new chapter on climate change. Contents: Part I Approaching the Transaction: Chapter 1 Introduction to Parts I and II; Chapter 2 The need for information; Chapter 3 Preliminary enquiries; Chapter 4 Freedom of access to environmental information; Chapter 5 Local land charges search; Chapter 6 Local authority and Water Company enquiries; Chapter 7 Other sources of information; Chapter 8 Environmental survey; Chapter 9 Assessing and managing environmental risk: contractual provision and environmental insurance; Chapter 10 Particular transactions – leases and lending; Chapter 11 Development contracts; Chapter 12 Transferring permits; Part II The Broader Context: Chapter 13 Civil liability; Chapter 14 Statutory nuisance; Chapter 15 Contaminated land; Chapter 16 Waste; Chapter 17 Water; Chapter 18 Built environment; Chapter 19 Nature conservation; Chapter 20 Integrated pollution control and atmospheric pollution; Chapter 21 Climate Change; Part III Precedents. Previous edition ISBN: 9781845921064
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