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WB/IMF Tax Conference - Taxation of the Wealthy in Developing Countries

October 19, 2021

Virtual Conference

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The Bank-Fund Tax Conference is a semi-annual series of events on international tax issues during the Annual and Spring Meetings. Member country officials, staff of international organizations, business and CSO representatives and academics attend the conference every year.

The upcoming Tax Conference will be held virtually on October 19, 2021 at 9:30-12:30 PM EDT. This year we will discuss the challenges in better taxation of income and wealth, the experience of governments in developing countries and the practical issues they face in designing as well as implementing tax policies to reduce income and wealth inequality.

The attendance is by invitation-only. For any questions about the Tax Conference, please contact us at tax4dev@worldbank.org

  • Inequality in the form of extreme concentration of income and wealth has been rising in many countries. Recent evidence has shown that the top 1% share of global income has been between three to four times larger than the share of the bottom 50%. The persistence in income inequality over centuries until today is largely driven by inequality in distribution of wealth. Progressive tax policy is one of the prime tools for addressing such inequality and the optimal policy choices will need to balance the benefits of redistribution with the costs of implementing such policies. Setting tax policy to address inequality faces many challenges, including how to deal with globalization, tax competition, tax avoidance and evasion, and state capture.

    This year we will discuss the challenges in better taxation of income and wealth, the experience of governments in developing countries and the practical issues they face in designing as well as implementing tax policies to reduce income and wealth inequality.

    Discussion Topics

    • How have different countries been using progressive income taxation to address inequality? What are the barriers to increasing progressivity in income taxation?
    • How could we improve the taxation of capital incomes? What are the challenges in increasing the taxation of capital incomes?
    • How have countries been using wealth taxation to address wealth inequality? What are some of the potential risks and lessons learned?
    • What is the role of international tax evasion in exacerbating under taxation of high-net-worth individuals? What are key policy objectives being pursued, and how are they evolving through the pandemic?
    • What role can multilateral initiatives play to improve taxation of high-income earners?
    • What new tools, research and initiatives are being developed to inform better design and implementation of more equitable tax policies?
    • What role can tax administration play in reducing tax evasion by the wealthy?
    • How do tax amnesties affect tax policies in addressing inequality?

    The attendance for this event is by invitation only. For any questions about the Tax Conference, please contact us at tax4dev@worldbank.org

  • Speaker bios and program [PDF]

     

    Time

    Description

    9:30 – 9:35 AM

    Welcome by Organizers

    9:35 – 9:45 AM

    Opening Remarks

    • Marcello Estevão, Global Director, Macroeconomics, Trade and Investment Global Practice (MTI GP), World Bank
    • Vitor Gaspar, Director of the Fiscal Affairs Department of the International Monetary Fund, IMF
    9:45 – 10:00 AM

    Presentation on the challenges in the taxation of capital, wealth and, high Incomes

    • Alexander Klemm, Division Chief, Tax Policy 2, Fiscal Affairs Department, IMF 

    10:00 – 10:45 AM

    Panel Discussion: The panel will discuss the key policy challenges facing developing countries in addressing income and wealth inequality and the role of taxation in reducing it.

    Moderator: 

    • Chiara Bronchi, Practice Manager, Fiscal Policy and Sustainable Growth Unit, MTI GP, World Bank

    Panelists:

    • Suryo Utomo, Director General of Taxes, Government of Indonesia
    • Roberto Jose Arias, Secretary of Tax Policy, Government of Argentina
    • Dr. Azura Othman, CEO, Chartered Institute of Islamic Finance Professionals
    • Branimir Jovanovic, Economist, Vienna Institute of International Economic Studies; former advisor to the Minister of Finance, North Macedonia

    10:45 – 11:00 AM

    Questions from the Audience

    11:00 – 11:20 AM

    Keynote Address:

    • Emmanuel Saez, Professor of Economics, University of California, Berkeley

    In his address Professor Saez will focus on the present state of taxation of capital income and wealth and how it may be reformed to make it more effective.

    11:20 – 11:35 AM

    Keynote Speaker - Question and Answers (Q&A)

    Moderator: 

    • Sebastian James, Senior Economist, Fiscal Policy and Sustainable Growth Unit, MTI, World Bank

    11:35 – 11:45 AM 

    Presentation on the challenges in addressing tax evasion among the wealthy, the international dimension, digital taxation, and targeted tax audits

    • Ana Cebreiro, Senior Economist, Fiscal Policy and Sustainable Growth Unit, MTI, World Bank
    11:45 – 12:20 PM

    Panel Discussion: This session will discuss challenges in implementing equitable policies and improving tax administration to address tax avoidance and evasion among top income earners and high net worth individuals and share success stories.

    Moderator: 

    • Katherine Baer, Deputy Director, Fiscal Affairs Department, IMF 

    Panelists:

    • John Rujoki Musinguzi, Commissioner General, Uganda Revenue Authority
    • J.B. Mohapatra, Chairman, Central Board of Direct Taxes, Ministry of Finance, Government of India 
    • Zayda Manatta, Head of the Global Forum Secretariat
    • Christos Kotsogiannis, Professor at the University of Exeter and Director of the Tax Administration Research Centre

    12:20 – 12:30 PM

    Questions from the Audience