Booming tax receipts have provided the government with a fiscal surplus.

Fiscal policy should ideally focus on tax cuts and infrastructure spending.

But tax hikes alone with not close Japan s fiscal black hole.

The quasi fiscal cocoa agencies require a comprehensive, independent, credible, international financial audit.

Previous positions include Law Interpretation Division and Audit of all areas of income tax.

And low growth will hurt tax revenues, undermining the proclaimed goal of fiscal consolidation.

Countercyclical fiscal policy had been largely discredited because of the delays involved in implementing fiscal changes and households weak response to temporary tax cuts.

A number of fiscal, social security, and tax reforms should be a priority for this purpose.

America s gravest fiscal problem is the short and medium run deficit between tax revenues and spending.

Indeed, some economists fear that a fiscal crisis could erupt even aftera tax hike is passed.

So grim has Japan s fiscal position become that bond issuance has exceeded tax revenue since 2009.

The Obama administration therefore turned to fiscal policy tax cuts and a range of spending programs.

In the case of IMF, PRGF supported programmes are designed to cover mainly areas within the primary responsibility of the Fund, such as exchange rate and tax policy, fiscal management, budget execution, fiscal transparency and tax and customs administration.

Fiscal reform We desperately need you to eliminate the looming fiscal cliff in the context of medium term reforms of both the tax system and entitlements.

Fiscal reform We desperately need you to eliminate the looming fiscal cliff in the context of medium term reforms of both the tax system and entitlements.

Although the new tax law is generally described as a fiscal stimulus, it is more accurate to say that it avoids a large immediate fiscal contraction.

The economy grows, yielding higher tax revenues, thereby helping governments to put their fiscal house in order.

Spending cuts and tax increases that in the long run restore fiscal sanity and balance are good.

(b) To promote appropriate fiscal and financial policies and measures in support of development, including measures to reform tax systems, combat tax evasion and widen the tax base, and to develop options for broad based development.

They further requested a deduction of 8.45 per cent for advance income tax payments for fiscal year 1985, pursuant to article 227 of the relevant tax legislation (Abgabenordnung).

The focus of fiscal reform was on fiscal discipline resource rationalization the need to keep expenditure within the limits of revenue tax reform and ways to increase revenue.

And, because tax revenues, too, will not recover, the gap will have to be bridged by fiscal austerity.

This leaves little room for fiscal stimulus, while the tax cut is more likely to be saved than invested.

Handling fiscal and economic fraud cases with international aspects (tax havens money laundering) and involving CEOs of public companies.

On this view, if fiscal austerity relieves households of the burden of future tax increases, they will increase their spending.

Mr. Robert Waldburger (Switzerland). Deputy Director, Swiss Federal Tax Administration head, Division for International Fiscal Law and Double Taxation Matters.

Several of the quasi fiscal agencies, such as FDPCC and FRC, failed to allow the audit team access to their accounts.

And, while traditional fiscal policy (government spending and tax cuts) will be pursued aggressively, non traditional fiscal policy (expenditures to bail out financial institutions, lenders, and borrowers) will also become increasingly important.

But tax hikes alone with not close Japan s fiscal black hole. What is most needed is consistent and stable macroeconomic management.

Financial and economic imbalance can lead to dangerous fiscal imbalance, as tax revenues plunge and social insurance and bailout expenditures rise.

But the most important part of the deal to avert the fiscal cliff was the restoration of the efficient payroll tax.

On the fiscal front, the shift from a complex system of state level indirect taxes to a national goods and services tax (a type of value added tax) will improve efficiency and raise revenue.

To increase the likelihood of this, they agreed on immediate spending cuts and tax increases that would automatically kick in (the fiscal cliff ) if agreement on a comprehensive set of fiscal reforms eluded them.

As the economist Alberto Alesina has found from studies of fiscal stabilization in OECD countries, eliminating fiscal deficits through spending cuts tends to be much better for the economy than eliminating them through tax increases.

This tax cutting frenzy comes, incredibly, after three decades of elite fiscal rule in the US that has favored the rich and powerful.

That will be hard to achieve, because fiscal tightening will reduce Italian GDP, which is now barely growing, in turn shrinking tax revenue.

Fiscal competition for FDI also reduced tax revenues, they said, further undermining social policies and probably having a negative impact on income distribution.

The fiscal deficit fell to 3 per cent of GDP in 1993 owing in large measure to increased tax revenues and reduced spending.

President Barack Obama s proposed alternative to the fiscal cliff would substantially increase tax rates and limit tax deductions for the top 2 of earners, who now pay more than 45 of total federal personal income taxes.

Tax reforms implemented in 1994 caused local governments share of national fiscal revenue to decline steadily, from 78 in 1993 to 52 in 2011.

Opponents of fiscal stimulus cynically claim that all such efforts are bound to fail, citing as evidence US President George W. Bush s tax cuts!

According to the Governor, one of the key elements in the fiscal recovery plan was to strengthen the Economic Development Commission tax incentive programme.

Now facing another 20 billion deficit despite temporary tax hikes and spending cuts, California s fiscal woes foreshadow those of many sub national or, indeed, national governments globally. While all must first deal with the current emergency, sensible local fiscal, tax, and political reforms are vital to restore a balance of centralized and decentralized government.

He rejected what he described as the European style of very large government and high tax rates and the American style of lower tax rates but large fiscal deficits, in favor of low budget deficits and a tax system that would promote opportunities for individuals and private enterprises.

The fiscal response tax cuts and spending increases has varied considerably, being somewhat more tepid in debt averse Europe than in the US and China.