The OECD has published a report
which highlights the adverse impacts of major economic downturns on consumption
tax revenues, providing insight on how the coronavirus pandemic is likely to
affect consumption tax revenues. When compared with the global financial crisis
of 2007–2009, the coronavirus crisis is likely to have a bigger impact on
consumption tax revenues because it is affecting consumption directly and to a
greater extent, says the OECD.
The OECD has published a report
which highlights the adverse impacts of major economic downturns on consumption
tax revenues, providing insight on how the coronavirus pandemic is likely to
affect consumption tax revenues. When compared with the global financial crisis
of 2007–2009, the coronavirus crisis is likely to have a bigger impact on
consumption tax revenues because it is affecting consumption directly and to a
greater extent, says the OECD.
