Purpose

Tax policymakers are currently navigating a path through a delicate dialectic of macro- and micro-level policy responses to the economic dislocation of the COVID-19 pandemic. The purpose of this paper is to examine initial tax measures that are aimed at helping taxpayers needing liquidity, solvency and income support.

Design/methodology/approach

This study undertakes a review of key tax policy responses of six jurisdictions across the globe that have similar tax regimes and virus mitigation strategies (albeit with different outcomes). Key initiatives implemented from February to April 2020 by Australia, Canada, New Zealand, Singapore, South Africa and the UK are examined.

Findings

This study indicates that tax concessions are a crude and mostly ineffective way of assisting individuals and enterprises in difficulty. In the longer term, if the crisis prompts desirable reforms such as extending the recognition of tax losses, the income tax system will emerge fairer and more efficient.

Practical implications

An investigation of the short-term reforms announced relating to asset write-offs, tax deferral, tax losses and goods and services tax/value-added tax rates in light of the liquidity, income support and stimulus objectives shows that in some cases the policies may have been misguided. The findings can be used by policymakers as the basis for designing better targeted alternative non-tax responses.

Originality/value

Jurisdictional responses to tax policy reforms during a modern period of significant economic dislocation have yet to be documented in the literature. Specifically, this paper highlights the limitations of tax policy initiatives as a response to financial hardship.

中文翻译：

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税收政策是否适合COVID-19回应组合？

目的

税收政策制定者目前正在通过一种微妙的辩证法，即应对COVID-19大流行的经济错位的宏观和微观政策应对之道。本文的目的是研究旨在帮助需要流动性，偿付能力和收入支持的纳税人的初始税收措施。

设计/方法/方法

这项研究对全球六个具有相似税收制度和缓解病毒策略（尽管结果不同）的司法管辖区的主要税收政策回应进行了回顾。审查了2020年2月至2020年4月由澳大利亚，加拿大，新西兰，新加坡，南非和英国实施的关键举措。

发现

这项研究表明，税收优惠是协助困难个人和企业的粗略且大多无效的方法。从长远来看，如果危机促使人们进行可取的改革，例如扩大对税收损失的确认，那么所得税制度将变得更加公平和高效。

实际影响

根据流动性，收入支持和刺激目标，对宣布的与资产核销，递延税项，税收损失以及商品和服务税/增值税税率有关的短期改革的调查表明，在某些情况下，这些政策可能被误导了。决策者可以将调查结果用作设计针对性更强的替代性非税应对措施的基础。

创意/价值

在现代重大经济动荡时期，税收政策改革的司法对策尚未有文献记载。具体而言，本文重点介绍了税收政策举措的局限性，以应对金融困难。