Publicación de DESPACHO SIMÓN-MORETÓN

#ICYMI: We’ve updated our State-by-State Property Tax at a Glance visualization tool to include state and local government fiscal data from 2021, the first full year of the #COVID19 pandemic. Dive in: https://lnkd.in/eEnGfB8W

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Measuring compliance with fiscal rules is challenging but crucial. Implementing a rule doesn't always mean achieving the intended objective. Today, countries using rule-based frameworks for fiscal policy face many challenges, as do markets, in perceiving these efforts at fiscal discipline. ⁣ ⁣ 🗓️ This week at the W𝗛𝗗 𝗙𝗶𝘀𝗰𝗮𝗹 W𝗼𝗿𝗸𝗶𝗻𝗴 𝗚𝗿𝗼𝘂𝗽 𝗦𝗲𝗺𝗶𝗻𝗮𝗿 𝗮𝘁 𝘁𝗵𝗲 𝗜𝗻𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗠𝗼𝗻𝗲𝘁𝗮𝗿𝘆 𝗙𝘂𝗻𝗱, I had the honor to present our latest publication, "W𝙝𝙮 𝘿𝙤𝙣’𝙩 W𝙚 𝙁𝙤𝙡𝙡𝙤𝙬 𝙩𝙝𝙚 𝙍𝙪𝙡𝙚𝙨? 𝘿𝙧𝙞𝙫𝙚𝙧𝙨 𝙤𝙛 𝘾𝙤𝙢𝙥𝙡𝙞𝙖𝙣𝙘𝙚 𝙬𝙞𝙩𝙝 𝙁𝙞𝙨𝙘𝙖𝙡 𝙋𝙤𝙡𝙞𝙘𝙮 𝙍𝙪𝙡𝙚𝙨 𝙞𝙣 𝙀𝙢𝙚𝙧𝙜𝙞𝙣𝙜 𝙈𝙖𝙧𝙠𝙚𝙩𝙨", co-authored with @Martin Ardanaz and Carolina Ulloa-Suárez. Our research underscores that 𝗰𝗼𝗺𝗽𝗹𝘆𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗳𝗶𝘀𝗰𝗮𝗹 𝗿𝘂𝗹𝗲𝘀 𝗽𝗮𝘆𝘀 𝗼𝗳𝗳, 𝗲𝘀𝗽𝗲𝗰𝗶𝗮𝗹𝗹𝘆 𝗶𝗻 𝗲𝗻𝗵𝗮𝗻𝗰𝗶𝗻𝗴 𝗺𝗮𝗿𝗸𝗲𝘁 𝗽𝗲𝗿𝗰𝗲𝗽𝘁𝗶𝗼𝗻𝘀.⁣ ⁣ 🔍 To maximize the benefits of these rules, it's essential to look beyond mere numerical compliance. By focusing on three key aspects, we can enhance these efforts across countries:⁣ ⁣ 1. 𝗕𝘂𝗶𝗹𝗱𝗶𝗻𝗴 𝗖𝗿𝗲𝗱𝗶𝗯𝗶𝗹𝗶𝘁𝘆: Enhancing the role of fiscal councils during the budget-making process and ensuring more accurate budget forecasts is vital for increasing commitment to fiscal rules. ⁣ ⁣ 2. 𝗘𝗻𝘀𝘂𝗿𝗶𝗻𝗴 𝗙𝗹𝗲𝘅𝗶𝗯𝗶𝗹𝗶𝘁𝘆: Distinguishing genuine flexibility from discretion that could undermine compliance is crucial. Well-designed escape clauses can minimize discretionary interventions while yielding measurable economic gains like lower debt levels and reduced interest rates. ⁣ ⁣ 𝟯. 𝗙𝗶𝘀𝗰𝗮𝗹 𝗥𝘂𝗹𝗲𝘀 + 𝗔𝗻𝗰𝗵𝗼𝗿𝘀: Fiscal rules can lead to better fiscal outcomes when they clearly define the fiscal aggregate and have well-defined anchors to strengthen fiscal policy forward guidance. Clear rules and strong anchors promote fiscal discipline and transparency, providing a reference point for long-term fiscal sustainability. ⁣ ✅ Measuring compliance is just the first step in addressing these issues. Our dynamic research agenda aims to refine rule-based fiscal frameworks, balancing flexibility, credibility, and enforcement to ensure public finance sustainability.⁣ ⁣ A heartfelt thank you to Roberto Perrelli for the invitation and very useful comments at this seminar. I also extend my gratitude to my IMF colleagues for the interesting feedback and discussion. ⁣ 📝 Publication link: https://lnkd.in/eXimuGWh. ⁣ #FiscalPolicy #PublicFinance #EmergingMarkets #Compliance #EconomicResearch #FiscalRules #Sustainability Ana María Ibáñez Emilio Pineda Axel Radics Arturo José Galindo Andrade Marta Ruiz Arranz Osmel Manzano David Rosenblatt Carolina Ulloa-Suárez

Tax returns and annual reports: two documents that keep getting mixed up in the business world. Here's the truth: they're as different as apples and oranges. 🍎🍊 Missing either one? That could be costly. Keep both in check, and your business stays in the clear. Need clarity on your filing obligations? That's what we're here for. #BusinessCompliance #TaxSeason #BusinessBasics #StartupTips

Speculation in the final run up to the budget focused on the trade-offs that might be required to cut taxes and meet both fiscal rules and spending commitments. In the end, most of the headlines had been leaked in advance, with some measures aimed at easing the tax burden on earners and families, while also introducing some tax increases to cover their costs. Discover the key insights from the Chancellor's Spring Budget with our comprehensive analysis. Explore the full summary now: https://lnkd.in/efFp-Dwg #springbudget2024 #tax #financialplanning

A good name is more desirable than great riches.... In a 9-0 ruling, the U.S. Supreme Court overturned the conviction of accounting firm Arthur Andersen #thinkstraighttalkstraight Andersen Alumni Association