Tax Policy Challenges in the 21st Century

S. 28I. Introduction

In a time of financial crisis and the subsequent need for countries to control their public finances, most governments around the world are struggling to generate enough revenues from taxes. This scenario appeared to bring about a major shift in policy-making power at the G20, an international network composed of 19 countries plus the European Union (EU), which works closely with organizations such as the Organisation for Economic Co-operation and Development (OECD), the United Nations (UN), the International Monetary Fund (IMF), the World Bank and the World Trade Organization (WTO). The annual G20 Summit represents the world’s predominant forum for discussions on the global economy. Today the organization is particularly at the forefront in the complex process of defining an effective, efficient and fair international tax system, balancing the priorities of developed and developing countries and forging a strong consensus.

This paper begins the process of understanding and mapping out the role of players in tax policy, in order to define the potential policy-makers for the 21^st century.

Part II outlines the main issues that emerged from the G20 Summit in St Petersburg...