Tax Expenditure Management: A Critical Assessment by Mark Burton

By Mark Burton

A tax expenditure is a 'tax holiday' allowed to a taxpayer or crew of taxpayers, for instance, when it comes to concession, deduction, deferral or exemption. The tax expenditure suggestion, because it was once first pointed out, was once designed to illustrate the similarity among direct executive spending at the one hand and spending throughout the tax process at the different. The id of advantages supplied during the tax method as tax costs permits analysts to think about the financial value of these components of the tax procedure which don't give a contribution to the first goal of elevating profit. even if a possible easy inspiration, it has generated a number advanced definitional and useful concerns, and this e-book identifies and severely assesses the arguable elements of tax expenditure and tax expenditure administration.

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Tax Expenditure Management: A Critical Assessment

A tax expenditure is a 'tax holiday' allowed to a taxpayer or crew of taxpayers, for instance, when it comes to concession, deduction, deferral or exemption. The tax expenditure notion, because it used to be first pointed out, used to be designed to illustrate the similarity among direct executive spending at the one hand and spending in the course of the tax method at the different.

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19 Jurisdictions do not have to explicitly state one purpose but rather may adopt one or both of these broad purposes for identifying tax expenditures. Ideally, the purpose adopted is explicit; however, oten it is merely implicit in the use for which a jurisdiction analyses tax expenditures and must be extrapolated from various documents. Whether explicit or implicit, once the purpose of identifying tax expenditures is determined, it is then possible to ascertain the means by which they are identiied or, more speciically, the criteria which provide the benchmark which underpins tax expenditure identiication, which is the most controversial of all discussions in the tax expenditures debate.

However, we do not purport to claim that this discussion on the dei nition of tax expenditures is comprehensive and complete – in fact, far from it. To this end, we also argue that the dei nition of tax expenditures should go beyond those traditional dei nitions discussed above to remove the prerequisite of being expressly legislated. We argue that this prerequisite provides an unnecessarily narrow view of what constitutes a tax expenditure and is a restriction on the types of activities captured within the dei nition.

However, there are many other ways to achieve a reduction in tax payable to speciic classes of taxpayers either because of certain taxpayer characteristics or because of certain behaviour. his may be achieved via a deduction for expenses not normally allowed, an accelerated or increased deduction for normal expenses, the deferral of the recognition of certain income or an outright exemption from taxation for income that would otherwise be assessable. What is common to the delivery of a tax expenditure to taxpayers, however, is the necessity of the taxpayer or the activity to meet the qualifying factor/s.

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