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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