Taxes: the wrong turn

Latin America has the wrong tax structure to deal with inequality. Here are four facts you should know. Fact 1.Latin America has the wrong tax structure to deal with inequality – The Latin American tax structure is characterized by its heavy reliance on value added, sales and excise taxes (gasoline, tobacco, alcohol). The region gets 50% of its total revenues from taxes levied on goods and services. Taxes on income, profits and capital gains are only 28% of total revenues. – In the OECD, the sources of fiscal revenues are more balanced and more equitable, since value added taxes (VAT) tends to be more regressive than income taxes. In OECD countries, 32% come from taxes on goods and services (VAT, […]

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