Legal Essential Reading Guide on IMF eLibrary

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Presenting one-click access to IMF research on law and finance with 25,000+ publications and statistical datasets all available FREE at the IMF eLibrary. Critical issues include Tax Law, Anti-Money Laundering, and Digital Currencies. Scroll through to learn more and to view these titles online. View the latest legal essential readings FREE at the IMF eLibrary. 2023 Review of the Fund's Anti-Money Laundering and Combating the Financing of Terrorism Strategy This paper reviews the Fund’s efforts to safeguard financial integrity and proposes the way forward for the Fund’s Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Strategy. For over 20 years, the IMF has recognized that effective AML/CFT frameworks, and financial integrity more broadly, are key to the soundness and stability of the financial sector and to prevent the negative macroeconomic implications of financial crimes on the broader economy of members, progressively integrating this work across all its core functions and in a broad set of Fund policies. The paper takes stock of the implementation of the IMF's AML/CFT strategy since 2018. It also proposes deepening the integration of financial integrity issues and an enhanced focus on the macroeconomic impact of AML/CFT issues for the way forward. ISBN: 979-8-40025-876-3. DOI: https://doi.org/10.5089/9798400258763.007 December 2023. 55 pages. View PDF Building Tax Capacity in Developing Countries Carlos Benitez, Mario Mansour, Miguel Pecho, and Charles Vellutini Tax capacity—the policy, institutional, and technical capabilities to collect tax revenue—is part of a deeper process of state building that is essential for achieving the sustainable development goals. This Staff Discussion Note shows that developing countries have made some progress in revenue mobilization during the past decades. However, much more is needed. We find that a staggering 9 percentage-point increase in the tax-to-GDP ratio is feasible through a combination of tax system reform and institutional capacity building. Achieving this calls for a holistic and institution-based approach that focuses on improving policy, administration and legal implementation of core taxes. The note offers practical lessons and guidance, based on IMF capacity building experience in this area. ISBN: 979-8-40024-609-8. DOI: https://doi.org/10.5089/9798400246098.006 September 2023. 32 pages. View PDF The Corruption Cost Tracker Olivier Basdevant and Mihaly Fazekas This Note addresses the assessment of corruption risks in public procurement and their impact on relative prices. The note presents the Corruption Cost Tracker, an online tool complementing the analysis presented in Abdou and others (2022). The Corruption Cost Tracker enables policymakers and stakeholders to address corruption risks in public procurement. It is an interactive online tool, with dashboards for Corruption Risk Analysis, Spending Analysis, Efficiency Gains, and Policy Scenarios. ISBN: 979-8-40023-642-6. DOI: https://doi.org/10.5089/9798400236426.005 May 2023. 19 pages. View PDF Countering the Financing of Terrorism: Good Practices to Enhance Effectiveness Chady El Khoury This book identifies key challenges and good practices for improving the effectiveness of counter terrorism financing frameworks. Chapters cover issues such as improving the understanding of terrorist financing risks and international cooperation in combating the financing of terrorism. ISBN: 979-8-40020-465-4. DOI: https://doi.org/10.5089/9798400204654.071 May 2023. 211 pages. View PDF How to Combat Value-Added Tax Refund Fraud Cedric Andrew and Katherine Baer A previous IMF Working Paper on value-added tax (VAT) refunds (WP/07/31, by Keen and Smith) describes the main forms of VAT noncompliance and concludes that VAT is susceptible to evasion and fraud like any other tax. This paper shows the insidious nature and extent of VAT refund fraud in selected EU countries and argues that this type of noncompliance requires tax administrations to adopt a coordinated strategy and deploy a range of countermeasures to combat this threat. Because such fraud is primarily a criminal legal issue, tackling it successfully will require cooperation, both internationally between VAT administrations and nationally between tax authorities and the judiciary. The paper’s focus is primarily on advanced economies in the context of the EU, but many of the recommendations are applicable to emerging market and developing countries. A separate IMF How to Note discusses managing VAT refunds in developing countries. ISBN: 979-8-40022-872-8 DOI: https://doi.org/10.5089/9798400228728.061 August 2023. 31 pages. View PDF Taxing Stablecoins Christophe J Waerzeggers, Irving Aw, and Jess Cheng This Fintech Note specifically considers the challenges that tax law systems face to achieve neutrality in taxing transactions in one specific type of crypto asset: stablecoins. Stablecoins are a category of crypto assets that aim to maintain a stable value relative to a specified asset or to a pool of assets, such as sovereign currencies. In this way, they are designed to address the problem of volatility in the prices of crypto assets; price volatility generally makes these assets poor candidates to be a store of value and is one of the main impediments against their more widespread adoption as a means of payment. The prospect of a more widespread adoption of stablecoins warrants a closer look at their tax treatment and associated challenges. ISBN: 979-8-40022-722-6. DOI: https://doi.org/10.5089/9798400227226.063 May 2023. 23 pages. View PDF Unmasking Control: A Guide to Beneficial Ownership Transparency Richard Berkhout and Francisca Fernando Transparency about who owns a company or corporate entity (the beneficial owner) affects economic stability. This guide for practitioners, policymakers, and other interested researchers describes comprehensive frameworks for holding beneficial ownership information. It proposes questions to guide strategic thinking and discussion of the issues while focusing on the overarching principles required to establish an effective system of beneficial ownership information. ISBN: 979-8-40020-804-1. DOI: https://doi.org/10.5089/9798400208041.071 October 2022. 171 pages. View PDF IMF Publications provides the latest research from the International Monetary Fund looking at the intersection of law and economics. Enjoy information and free access to books, working papers, and policy guidance on financial stability and international monetary law. To purchase print, please visit IMF Publications on Amazon. For more information about IMF Publications email publications@imf.org.

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