l0grisk intelligence · english

// definition

Tax expenditure

Revenue forgone against a tax benchmark

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Macro & central banks

Short definition

A provision that reduces tax revenue relative to a reference tax system. Its estimated cost depends on that benchmark and the available data. Removing it may raise a different amount because taxpayers change their behaviour and tax provisions interact.

risk atlas

Knowledge map

Intuition

Costing a tax concession requires an explicit benchmark; estimating a reform also requires behavioural effects.

Primary sources