Latest country updates - June 10, 2009
In less than a year, the "credit crunch" has deteriorated into the first global recession we've experienced since World War II. As a result, many countries are facing serious structural economic issues, the effects of which can be seen in the steep decline in world trade.
Countries around the world continue to focus intensely on efforts designed to lessen the impact of the global economic and financial crisis. Through monetary policy, regulatory action, fiscal stimulus and, most often, some combination of all three, the majority of countries have been undertaking a variety of activities designed to spur demand and restart the flow of credit to businesses.
Tax measures comprise the larger share of overall fiscal stimulus packages. In this guide, we focus on the tax-related fiscal stimulus measures in 24 jurisdictions where we are seeing particularly robust stimulus activity and identify themes that are emerging as governments increasingly rely on their tax systems to administer stimulus.
Next section: Introduction
