ADB chief calls for more progressive tax systems
He says this can help address the worsening income gaps that have proliferated after the pandemic and raise revenues; also urges cooperation to close tax loopholes
Add BT as a preferred source
Singapore
INTRODUCING more progressive income tax and property tax systems can help address the worsening income gaps that have proliferated after the pandemic, said Masatsugu Asakawa, Asian Development Bank (ADB) president, on Wednesday.
He also called for cooperation among countries to close tax loopholes that multilateral businesses can use to avoid tax burdens, and carbon taxes to accelerate green investment. Besides helping governments to secure sufficient funding, such measures could also create positive conditions for a greener and more inclusive recovery, he said.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
