COVID Module Question 5

Do published documents or information on the emergency fiscal policy package under consideration include information on tax relief measures?

Guidelines
This question asks about the availability of published information related to tax relief measures in the emergency fiscal policy package. This question is about tax policies that result in revenue losses (policies related to raising revenue are reviewed in Q10 in the “Financing” section). These policies reduce revenue by providing exceptions to the regular tax code. Such exceptions are sometimes referred to as “tax expenditures,” and can come in the form for instance of exemptions, credits, deductions, and preferential rates. They can also include the deferral of tax payments. Tax expenditures are typically provided for specified entities, individuals, or activities. Tax expenditures often have the same policy impact as providing direct subsidies, benefits, or goods and services. For example, in the pandemic, tax expenditures could be used to encourage businesses to purchase special equipment to protect their employees and customers from the virus.

The question asks whether an estimate of the total cost of all tax relief measures is provided, as well as cost estimates for each individual tax relief provision. It also asks whether information is provided that identifies the intended beneficiaries of these tax policies, such as whether they are designed to benefit individual taxpayers, small businesses, or large corporations. Finally, the question asks whether the presentation includes a narrative explaining these tax policies, such as a discussion of the social, economic, or other policy goals the tax relief is expected to achieve, eligibility criteria for accessing tax relief programs, etc.

Tick boxes: ''Please check the boxes of the items that appear in the relevant documentation. If none of the items are presented, please check ‘None of the Above’. In the comment box, please provide a detailed citation for each item selected below as described in the assessment directions as well as any additional details.''


 * ☐  Estimate of total revenue losses from tax relief measures
 * ☐  Estimate of revenue losses for individual tax relief measures
 * ☐  Policy rationale for individual tax relief measures
 * ☐  Intended beneficiaries for individual tax relief measures
 * ☐  Explanatory narrative for individual tax relief measures
 * ☐  None of the above
 * ☐  Not applicable (the EFPP does not include tax relief measures)