A new report from the OECD says that countries are using tax reforms to lower taxes on businesses and individuals, with a view to boosting investment, consumption and labour market participation. Tax Policy Reforms 2018 describes the latest tax reforms across 35 OECD members, as well as Argentina, Indonesia and South Africa.

The report highlights the continuation of a trend toward corporate income tax rate cuts, which has been largely driven by significant reforms in a number of large countries with traditionally high corporate tax rates. The average corporate income tax rate across the OECD has dropped from 32.5 percent in 2000 to 23.9 percent in 2018.

Significant tax reform packages were introduced in Argentina, France, Latvia and the United States, with a strong focus on supporting investment and some measures were designed to enhance fairness. Other countries have introduced tax measures in a more piecemeal fashion.