01803cas a2200265 a 4500 AALejournalIMF019119 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498302012 2523-5753 BD-DhAAL BD-DhAAL Waerzeggers, Christophe. Designing Interest and Tax Penalty Regimes / Christophe Waerzeggers, Cory Hillier, Irving Aw. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (20 pages) Tax Law Technical Note <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Nearly all tax systems have some form of interest and tax penalty regimes. Interest payable on any late or underpayment of tax seeks to protect the present value of the tax amount to the government budget, whereas penalties are intended to deter taxpayers from defaulting on their tax obligations-and to punish them if they do-to achieve horizontal equity vis-a-vis compliant taxpayers. As interest and penalties serve very different objectives, they should not be applied in a mutually exclusive manner. This Tax Law IMF Technical Note focuses on the key issues that should be taken into consideration in designing interest and penalty regimes in tax legislations. Mode of access: Internet Aw, Irving. Hillier, Cory. Tax Law Technical Note; Tax Law Technical Note ; No. 2019/001 Full text available on IMF http://elibrary.imf.org/view/journals/008/2019/001/008.2019.issue-001-en.xml IMF e-Library