Many countries incentivize business investment in research and development (R&D), intending to foster innovation. A common approach is to provide direct government funding for R&D activity. However, a significant number of jurisdictions also offer R&D tax incentives.
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Poland is currently moving forward with legislation aimed at introducing a windfall profits tax. In doing so, it is following a broader European trend of renewed interest in such taxes in response to rising fuel prices triggered by the conflict in the Middle East.
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Introduced by Sens. Chuck Schumer (D-NY), Ron Wyden (D-OR), and Michael Bennet (D-CO), The Taxing Buybacks from Big Oil Windfalls Act would raise the stock buyback excise tax from 1 percent to 25 percent for large oil and gas companies.
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Full expensing under the One Big Beautiful Bill Act does not neutralize the tariff burden on imported goods, as former White House Council of Economic Advisers chair Stephen Miran asserts.
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President Donald Trump has decided against a clean extension of the US-Mexico-Canada Agreement (USMCA), allowing the bloc of countries to enter a prolonged period of annual reviews, renegotiations, and, possibly, a shift to bilateral deals.
Short FormJust as many parts of American life have transformed over the past 250 years, so too has the federal tax system. While most taxes levied in the 18th century are still levied in some form today, the federal government’s reliance on them, the complexity of the tax code, and Americans’ overall tax burdens have shifted considerably.
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The European Commission’s new Tax Omnibus proposal marks a notable step towards improving the simplicity and competitiveness of the EU Single Market.
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Pennsylvania lawmakers are looking to impose the Commonwealth’s existing telecom gross receipts tax (GRT) on companies providing digital advertising services in Pennsylvania.
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The new data disclosures will draw significant attention in 2026 and beyond. However, because the data is rooted in financial accounting concepts, affected by timing issues, and shaped by inconsistent reporting regimes, it is poorly suited for drawing strong conclusions about tax policy or corporate behavior.
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It is good to see senators talking about the Social Security crisis that is rapidly unfolding. But any serious proposal has to grapple with the trade-offs of different reforms and accept that the fix will come from both sides of the ledger: taxes and expenditures.
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Short FormBritish taxation on the American colonies was a major catalyst for the American Revolution, but most of the tax revolts leading up to the war were in response to one tax type: excise taxes.
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With nearly 2 million US jobs tied to trade with Canada and Mexico, stalling renewal — or withdrawing outright — would compound tariff uncertainty at exactly the wrong time.
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Digital services taxes address a real concern—the need to adapt taxation to the digital economy—but they are not the right solution. They raise limited revenue, are often passed on to consumers rather than large digital firms, create economic distortions, increase complexity and compliance costs, negatively impact innovation and competitiveness, and risk international retaliation.
Since digital services taxes generate little revenue, place the cost on European consumers and not on large digital companies as intended, and risk escalating trade disputes, policymakers should rethink their strategy.
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A study from the Fraser Institute finds the US tax code is highly progressive relative to other OECD countries.
7 min read
Worldwide, 175 countries—including all major European countries—levy a value-added tax (VAT) on goods and services. However, to reduce compliance and administrative costs, most countries have VAT exemption thresholds: if a business is below a certain annual revenue threshold, it is not required to participate in the VAT system.
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Europe’s turn toward the UN is ultimately not a sign that governments are ready to resolve fundamental disputes over taxing rights. If anything, international cooperation on the goal that matters most—fair treatment of cross-border trade—is crumbling.
AI may be a transformative technology, but that is not a good justification for throwing core principles of tax policy out the window.
Illinois plans to impose a complicated, legally fraught new social media tax based on a few pages of confused, contradictory, and almost laughably incomplete legislative text embedded in the new budget.
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Publicly held debt is projected to rise to a new record high of 106 percent of GDP within the next four years and continue to rise to 120 percent by 2036 and 175 percent by 2056.
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