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India Tops List of Regressive Tax Suggestions by IMF: Oxfam Report
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According to a recent analysis by Oxfam, India received the highest number of tax-related recommendations from the International Monetary Fund (IMF) that are considered regressive during the period from 2022 to 2024.
The report, released ahead of the IMF and World Bank Spring Meetings in Washington, highlights concern over a perceived “double standard” in the IMF’s approach. It notes that while wealthier nations are generally advised to adopt progressive tax policies, developing and lower-income countries are more often given recommendations that could increase economic inequality.
Oxfam’s findings indicate that around 59% of the IMF’s tax-related advice to low and lower-middle-income countries fell into the regressive category, whereas about 52% of its recommendations for high-income countries were progressive in nature.
The report, released ahead of the IMF and World Bank Spring Meetings in Washington, highlights concern over a perceived “double standard” in the IMF’s approach. It notes that while wealthier nations are generally advised to adopt progressive tax policies, developing and lower-income countries are more often given recommendations that could increase economic inequality.
Oxfam’s findings indicate that around 59% of the IMF’s tax-related advice to low and lower-middle-income countries fell into the regressive category, whereas about 52% of its recommendations for high-income countries were progressive in nature.
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