Resilience of the rural employment sector to economic shocks in India

The study explores the effect of recent economic shocks due to policy changes and the COVID-19 pandemic on rural employment in India. The study uses three cases;(i) demonetization, (ii) Goods and Service Tax (GST) implementation, and the recent (iii) COVID-19 pandemic to explore the resilience of employment in the rural regions of India. The study used state-level data estimates on rural employment in India provided by CMIE, employment data from NSSO, and migration data from the population census. A modified version of interrupted time series analysis within the beta regression framework was used to quantify the effect of shocks. The study shows that the rural unemployment rates increased after economic shocks as per expectations. The effects were smaller in the case of demonetization but were significantly higher in the case of GST. Early trends suggest a significant short-term effect due to COVID-19-induced shock on unemployment. The study shows that the urban sector is more resilient than the rural sector. The study highlights the need for employment guarantee programmes and direct assistance during the shocks to increase the resilience of the rural economy.

INDIVIDUAL HOME-WORK ASSIGNMENTS FOR STATE TAXES

The surge in work-from-home arrangements brought on by the COVID-19 pandemic threatens serious disruptions to state tax systems. Billions of dollars are at stake at this pivotal moment as states grapple with where to assign income earned through these remote work arrangements for tax purposes: the worker's home or the employer's location? Some states-intent on modernizing their income tax laws-have assigned such income to the employer's location, but have faced persistent challenges on both constitutional and policy grounds in response. This Article provides a vigorous defense against such challenges. The Supreme Court has long interpreted the Constitution to be deferential to state tax actions;new laws for the age of remote work surely satisfy constitutional demands. Moreover, assigning income from remote work to the employer's location is more equitable than assigning the income to the worker's home, justifying modernization efforts from a policy perspective. The solution to this homework assignment problem is evident: the states must revise their tax laws to face the evolving nature of work.

Disability Evaluations: Common Questions and Answers

Disability is a physical or mental impairment that substantially limits at least one major life activity. Family physicians are often asked to assess patients with disabling conditions that can impact insurance benefits, employment, and ability to access needed accommodations. Disability evaluations are needed for short-term work restrictions following a simple injury or illness and for more complex cases involving Social Security Disability Insurance, Supplemental Security Income, Family and Medical Leave Act, workers' compensation, and personal/private disability insurance claims. Using a stepwise approach built on awareness of the biologic, psychological, and social elements of disability assessment may facilitate this evaluation. Step 1 establishes the role of the physician in the disability evaluation process and the context of the request. In Step 2, the physician assesses impairments and establishes a diagnosis based on findings from an examination and validated diagnostic tools. In Step 3, the physician identifies specific participation restrictions by assessing the patient's ability to perform specific movements or activities and reviewing the employment environment and tasks. Steps 4 and 5 ensure proper documentation, billing, and coding. In complex cases, consultants such as psychiatrists and physical therapists may assist by providing insight into a patient's mental and physical impairments, activity limitations, and response to treatment. (Am Fam Physician. 2023;107(5):490–498. Copyright © 2023 American Academy of Family Physicians.)

Impact of Direct Taxation on Economic Growth: Empirical Evidence Based on Panel Data Regression Analysis at the Level of Eu Countries

Through fiscal policy, the government can influence businesses and individuals in order to regulate their behaviour. The research used panel data from all 27 EU countries covering the period 2008–2020 to investigate the impact of direct taxation on economic growth at the level of two main clusters of countries concerning fiscal efficiency. Therefore, the analysis employed cluster methods to classify the main EU countries in both groups of countries with a high level of fiscal efficiency and those with a rather limited level of fiscal efficiency. The study employs fixed effect models and dynamic GMM methods to investigate the effect of direct taxation components (personal and corporate income taxes) on economic growth. The analysis also considers the informal economy's role in relation to the official economy. The empirical results revealed that corporate income taxes significantly negatively impact economic growth for both clusters of high- and limited fiscal efficiency countries. Additionally, personal income tax was associated with lower economic growth for countries in the limited fiscal efficiency group. Thus, from the perspective of policymakers, lowering direct taxation can increase disposable income, stimulate consumption and economic growth, encourage investment leading to job creation, increase competitiveness, and reduce tax evasion and avoidance, thereby leading to a more efficient tax system.

Effect of trade barriers on export performance during COVID-19 pandemic: a comparative study among South Asian textile industries

Studiul s-a concentrat pe determinarea politicilor guvernamentale esenţiale si a barierelor comerciale care afectează performanţa exporturilor industriei textile în timpul pandemiei de COVID-19. Acest studiu a analizat influenţa politicilor guvernamentale de export asupra performanţei la export a industriei textile. Acest studiu a comparat, de asemenea, factori din trei industrii textile din Asia de Sud, respectiv Pakistan, India si Bangladesh. Studiul a identificat nouă politici guvernamentale de export esenţiale si bariere comerciale bazate pe vizualizarea organizaţiei industriale (Vizualizarea I/O). A fost utilizat un model de regresie de tip panel pentru a analiza semnificaţia fiecărei politici guvernamentale si barierele comerciale care afectează performanţa exporturilor de produse textile. Rezultatele studiului au arătat că ratele de schimb valutar, costul de export, timpul de export, stabilitatea politică a ţării, calitatea infrastructurii din ţară, libertatea din corupţie, costul de afaceri al terorismului si stabilitatea economică în ţară au un efect semnificativ asupra performanţei la export a industriei. În schimb, taxele pentru desfăşurarea afacerilor au un efect nesemnificativ asupra performanţei la export. Testul de Estimare aparent fără legătură (SUEST) a comparat diferenţele de performanţă la export ale industriilor textile din Pakistan, India si Bangladesh datorate politicilor guvernamentale. Rezultatele au arătat că un nivel mai ridicat de timp pentru export, costul de export si costul pentru desfăsurarea afacerilor terorismului duc la performanţa scăzută la export a industriei textile. În acelasi timp, un nivel mai ridicat al cursurilor de schimb valutar, stabilitatea politică a ţării, calitatea infrastructurii, libertatea din corupţie si stabilitatea economică în ţară duc la performanţe ridicate la export ale industriei textile. Mai mult, taxele pentru desfăsurarea afacerilor au un efect nesemnificativ asupra performanţei la export. Acest studiu este printre puţinele care abordează industria textilă în timpul pandemiei de COVID-19. Din cauza circumstanţelor incerte, va fi greu pentru guvern să identifice factori importanţi care ar putea ajuta exportatorii de textile să supravieţuiască si să se dezvolte în timpul pandemiei de COVID-19. Studiul a identificat politici guvernamentale importante si bariere comerciale care afectează exporturile de textile pe baza unui sprijin teoretic solid si a comparat si a elaborat, de asemenea, importanţa fiecărui factor în trei ţări din Asia de Sud. Acest studiu va ajuta factorii de decizie să-si reconsidere factorii legaţi de export pentru a-si spori exporturile de textile si pentru a-si relansa economia după pandemia de COVID-19.Alternate :The study focused on determining essential government policies and trade barriers affecting the textile industry's export performance during the COVID-19 pandemic. This study has analysed the effect of government export policies on the export performance of the textile industry. This study has also compared factors among three South Asian textile industries, including Pakistan, India, and Bangladesh. The study identified nine essential government export policies and trade barriers based on Industrial Organization View (I/O View). A panel regression model was used to analyse the significance of each government policy and trade barrier affecting textile export performance. Results of the study showed that currency exchange rates, the cost to export, time to export, political stability of the country, quality of infrastructure in the country, freedom from corruption, business cost of terrorism and economic stability in the country have a significant effect on export performance of the industry. In contrast, taxes on doing business have an insignificant effect on export performance. The Seemingly Unrelated Estimation (SUEST) test compared the differences in export performance of Pakistani, Indian and Bangladeshi textile industries due to governmen policies. The results showed that a higher level of time to export, cost to export and business cost of terrorism lead to the low export performance of the textile industry. At the same time, a higher level of currency exchange rates, political stability of the country, quality of infrastructure, freedom from corruption and economic stability in-country lead to the high export performance of the textile industry. Further, taxes on doing business have an insignificant effect on export performance. This study is among the few contributing to the textile industry during the COVID-19 pandemic. Due to uncertain circumstances, it becomes hard for the government to identify important factors which could help textile exporters to survive and grow during the COVID-19 pandemic. The study has identified important government policies and trade barriers affecting textile exports based on strong theoretical support and has also compared and elaborated on the importance of each factor across three South Asian countries. This study will help policymakers reconsider exportrelated factors to enhance their textile exports and revive their economy after the COVID-19 pandemic.

International trade resilience with applied welfare economics: an analysis on personal protective equipment

A global crisis such as a pandemic causes a decrease in the global trade of medical supplies. One of the most significant issues healthcare workers and people face is the shortage of personal protective equipment (PPE) items. This study constructs the first international trade model to link infectious disease dynamics and global trade networks, considering the important relationship between government preparedness, domestic manufacturers, and consumers. We examine social welfare measures here in the presence of quantity controls and taxes on the global trade flows. An equilibrium coverage among countries is investigated that integrates net government revenue, purchasing cost, transportation cost, and the health cost caused by the shortage of PPE supply. We develop an optimisation model that balances domestic firms and the global trade network to satisfy the total demand for each traded PPE product. The proportional change in value-added on domestic production is also studied by considering the marginal manufacturing costs of a face mask. The results obtained from testing our model show that the average quantity coverage by the global trade networks among four countries decreased by up to 28 % using the proposed trade policy. Hence, a large amount of demand is met by relying on domestic production.

The Taxation of 'Digital Nomads' and the '3 W's': Between Tax Challenges and Heavenly Beaches

Work mobility is not something new, but it certainly received an important boost with the COVID-19 pandemic as many people began working remotely which reflected on their lifestyle. In this context, the objective of the present study is to analyse the challenges imposed by what is known as 'digital nomads' from the exclusive perspective of individual taxation. The first part aims to understand the first 'W', i.e., who the 'digital nomads' are and the factors that favour the choice for this type of work. Subsequently, it examines the impacts caused by the 'digital nomadism' in determining the tax residence (second 'W' – where) and presents the measures, albeit incipient and indistinguishable, adopted by some countries in relation to this phenomenon. The third section delves into the taxation of income obtained by 'digital nomads' through either an employment relationship or the provision of services (third 'W' – what). Based on the analysis of examples and the presentation of some alternatives, this study seeks to demonstrate the need to adapt the tax residence rules at both of the levels of domestic law and double tax treaties (tiebreaker rules). The rules on the taxation of income from employment and the provision of independent services also demand modifications that detach them from the strict need for a physical presence.

The Case for A Global Excess Profits Tax: A Response to Dr. Tarcísio Diniz Magalhães & Professor Allison Christians

In striving to slow the spread of the COVID-19 pandemic, governments across the globe acted quickly to implement various "stay-at- home" orders and bans on all "non-essential activities." While these actions were likely effective in slowing the spread of the virus, the economic impacts were felt almost immediately. The US deficit rose to $3.1 trillion following massive spending to aid individuals and small businesses. Internationally, governments have been increasing their debt loads to combat both the health and financial impacts of the pandemic. Indeed, by the end of 2020, the international debt load increased to a record-breaking $281 trillion. Almost as quickly, various proposals have been offered regarding how to mitigate this pandemic-fueled deficit. One solution offered is the return of a historical tax scheme-an excess profits tax. Excess profits taxes have historically been applied both domestically and internationally during times of war. Although there are variations in how an excess profits tax is calculated, traditionally, an excess profits tax is applied to those companies who earn returns in excess of a set "normal" rate of return.

Do South Africa's e-commerce VAT rules measure up to international trends and OECD guidelines?

Orientation: The taxability of e-commerce transactions have been the subject of many studies to protect governments from Value-Added Tax (VAT) erosion, illegal recovery and fraud. Research purpose: This study critically analyses the challenges posed by e-commerce transactions in South Africa's VAT Act . Recommendations are made for amendments to the VAT Act to improve rules to effectively tax e-commerce transactions occurring in South Africa. Motivation for the study: Globally, including in South Africa, enforcing relevant VAT legislation to target output tax collections and input tax credits from e-commerce transactions aptly remains a challenge. Research approach/design and method: By integrating qualitative literature reviews and comparative synthesis, this study employed a comparative legal methodology. VAT levied on e-commerce transactions in South Africa is compared to the Organisation for Economic Co-operation and Development's guidelines as well as New Zealand's and Australia's Goods and Services Tax legislations. Main Findings: While the South African VAT Act aligns with international best practices on the use of intermediaries, there are some differences as detailed in the study. Practical/managerial implications: To align with international trade counterparts, the South African VAT Act should differentiate between business-to-business and business-to-consumer sales. A provision concerning the place of consumption for bundled goods should be included in the VAT Act . The VAT Act should contain a provision that allows bad debts to be claimed on cash sales made instead of total sales made. Contribution/value-add: This study harmonises South African VAT legislation with international best practices within the context of continual advancement of e-commerce transactions.

What CPAs Need to Know about Employee Retention Credit Fraud: Certified Public Accountant

According to the IRS, many of these solicitations are offering credits that are "too good to be true"- in some cases, they are downright fraudulent. Eligible employers can still claim the credit currently by filing an amended payroll tax return (Form 941-X) for each quarter during which they paid qualifying wages. Because amended payroll returns may be filed up to three years alfer the deadline for the original returns, employers will be able to claim ERC credits into 2025. [...]during the midst of the pandemic, the IRS undertook efforts to publicize the credit, affirmatively "urg[ing] employers to take advantage of the newly-extended employee retention credit." According to the IRS, promoters also are failing to advise taxpayers that they cannot deduct wages covered by ERC credits on the business's income tax returns or that they cannot claim the credit for wages that formed the basis of a PPP loan application that was granted (IR-2022-183, Oct. 19, 2022, https://bit.ly/40XkCMc).

Were small businesses more likely to permanently close in the pandemic?

Previous estimates indicate that COVID-19 led to a large drop in the number of operating businesses operating early in the pandemic, but surprisingly little is known on whether these shutdowns turned into permanent closures and whether small businesses were disproportionately hit. This paper provides the first analysis of permanent business closures using confidential administrative firm-level panel data covering the universe of businesses filing sales taxes from the California Department of Tax and Fee Administration. We find large increases in closure rates in the first two quarters of 2020, but a strong reversal of this trend in the third quarter of 2020. The increase in closures rates in the first two quarters of the pandemic was substantially larger for small businesses than large businesses, but the rebound in the third quarter was also larger. The disproportionate closing of small businesses led to a sharp concentration of market share among larger businesses as indicated by the Herfindahl–Hirschman Index with only a partial reversal after the initial increase. The findings highlight the fragility of small businesses during a large adverse shock and the consequences for the competitiveness of markets.Plain English SummarySmall businesses were more likely to close permanently during the early stages of the COVID-19 pandemic than large businesses. Although they rebounded strongly thereafter, market concentration remains higher than before the pandemic. We obtain these results from analyzing administrative firm-level data covering all businesses filing sales taxes in California. Our analysis contributes to research by demonstrating the fragility of small businesses during a crisis relative to large businesses. Our findings imply that small businesses may need additional support given the trend toward purchases from large online retailers.

Evolution of Pension System Financial Models for Sustainable Economic Growth

Sustainable accumulation of pension rights and increasing of income protection for individuals are central problems for any pension system. Public pension provision in the world practice usually has an earnings-related basis. At least one third of OECD countries has basic minimal pension provision, which depends on the socio-economic policy and financial health of the budgetary system. The development of financial and investment models of pension systems since the creation of the first prototype in Germany has been driven by changes in the gender and age structure of the population, globalization and rapid development of technology. The recession of 2008 and the COVID-19 crisis of 2020 highlighted the vulnerabilities of the global financial system and the risks to the financial stability of pension systems. Pension finances deteriorated during these crises due to lost contributions on wages, which have been mainly covered by state budgets. Automatic adjustment mechanisms in pensions are crucial to deal with the problem ageing. The aim of the study is to analyze the evolutionary vector of development of financial and investment models of pension provision, update and analyze risks for their future development, and justify ways to overcome these risks in the long term. The paper concludes that to adapt pension models to the current challenges of the global economy, it is necessary to improve the quality of public services in the field of social security and optimize the costs of their financing via increasing the quality of the public financial management. It is also necessary to use advantages of technological progress in order to minimize the threats of technological growth to pension systems caused by the industrial Revolution 4.0. This direction will require adaptation, effective adjustment of the financial mechanisms of pension systems, and even qualitative changes in the financing models of the pension system in the long term. © 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.

„Wir sind ärmer geworden und müssen uns darauf einstellen"

An interview with Clemens Fuest is presented.

How can corporate taxes contribute to sub-Saharan Africa's Sustainable Development Goals (SDGs)? A case study of Vodafone.

BACKGROUND: The COVID-19 pandemic and the climate emergency threaten progress in reaching many of the Sustainable Development Goal (SDG) targets by 2030. The under-5 mortality and maternal mortality rates are well below the targets, and if we progress at the current pace, there is a high risk of not meeting the 2030 goals. Furthermore, the initial progress in the decline in child and maternal mortality since 1990 is likely to be eroded. Much of this progress has resulted from increased sanitation, drinking water, education, and health service coverage. The adequate provision of public services is possible if there is sufficient government funding. When governments have more income, they spend more on public services, which increases access to fundamental economic and social rights and, thus, contributes to the SDGs. One of the key drivers of government financing, taxation, constitutes 70% of government revenue in low- and lower-middle-income countries. Corporate income tax constitutes 18.8% of tax revenue in African countries compared to 10% of tax revenue in OECD countries. Therefore, it plays a critical role in SDG progress. This paper aims to quantify the contribution of one large taxpayer, that publishes their tax payments, (Vodafone Group Plc) on progress towards SDGs in six African countries. We use econometric modelling to estimate the impact of an increase in government revenue equivalent to Vodafone's average tax paid between 2007-2017. RESULTS: We find that government revenue equivalent to Vodafone's taxes made a significant contribution to progress in attaining selected SDGs. We found that the revenue equivalent to Vodafone's taxes allowed 966,188 people to access clean water and 1,371,972 people to access basic sanitation each year. Over the time period studied, 858,054 children spent an extra year in school and 54,275 children under five years and 3,655 mothers survived. In just one of these countries, Tanzania, the revenue equivalent to Vodafone's tax contribution allowed 174,121 people to access clean water and 223,586 to access sanitation each year. Over the time studied 187,023 children spent an additional year at school, 6,569 additional children under five and 625 additional mothers survived. CONCLUSIONS: These findings demonstrate that the reported contributions from a single multinational corporation drive SDG progress. Furthermore, it highlights the importance of transparent taxes and explores the responsibilities of global institutions, governments, investors, and multinational corporations.

Node Research on the Involvement of China's Carbon Tax Policy in the Context of COVID-19

The outbreak of COVID-19 provides a rare opportunity for the implementation of the carbon tax. To determine which stage is the most appropriate for introducing the policy, a simulation model based on China's panel data is established to analyze the impact of the carbon tax on government revenue and residents' income from five scenarios. A new GM-SD modeling method is proposed to ensure the accuracy of the model. The results show that the impact of the carbon tax on the government and the public is significantly different at different stages, and even the implementation of the carbon tax in the early stage of COVID-19 will reduce the government's tax revenue. The score analysis of government tax revenue, residents' surplus disposable income, residents' emotional value, and government administrative power finds that the middle period of COVID-19 is the best time to implement the policy. In addition, a more detailed analysis of five aspects, including total population, energy consumption, and national income, shows that the best time to implement the carbon tax policy is when the damage degree of COVID-19 is moderate. The analysis results can provide a reference and basis for China to introduce the carbon tax in the event of similar events as COVID-19, and have reference significance for other countries that have not implemented a carbon tax. © 2023, The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.

L'avenir de la fiscalité locale à l'épreuve de la baisse des « impôts de production »

La réforme des impôts de production, mesure « phare » du plan de relance consécutif à la crise sanitaire, risque d'affecter les ressources et l'autonomie financière des collectivités territoriales et d'accélérer le déclin de la fiscalité locale, en compromettant ses perspectives de modernisation.Alternate abstract: The recent overhaul of taxes on production, which has been heralded as a "flagship” measure of the post-covid recovery plan, is likely to impact the resources and financial autonomy of local authorities, and to hasten the decline of local tax systems by jeopardizing their required modernization.

Financing Local Government and Development in Canada in the Aftermath of a Global Pandemic: Continuity and Change

En cette période postpandémique, les administrations locales se retrouvent dans un contexte budgétaire difficile. S'appuyant sur les idées formulées au fil des ans par Richard Bird, l'auteur réexamine certains thèmes omniprésents dans les discussions et les analyses des finances municipales, tels que les avantages de l'imposition basée sur les bénéfices réalisés localement, les contraintes hiérarchiques qui pèsent sur la prise des décisions budgétaires, et la réalité d'une crise budgétaire perpétuelle au niveau local. Le fait de devoir financer un large éventail de dépenses pour les services publics au moyen d'une étroite base de recettes a entraÎné des tensions intergouvernementales et un débat persistant sur la capacité de l'assiette de l'impôt foncier à répondre aux demandes qui pèsent sur elle. Le financement des administrations locales peut se décrire au moyen des termes emprunt, dépense et imposition. La pandémie de COVID-19 a eu des répercussions sur chacun de ces aspects du processus décisionnel budgétaire des municipalités. La réglementation en matière d'emprunt est restée limitée par la hiérarchie;la pression pour augmenter les dépenses s'est accrue;et les recettes fiscales et tarifaires ont été défavorablement touchées. De plus, il semble probable que l'assiette fiscale des municipalités sera réduite compte tenu de la controverse entourant les droits d'aménagement. L'auteur utilise des données de l'Ontario pour illustrer les effets de la pandémie sur la santé budgétaire des municipalités. En outre, l'article utilise le tableau de bord de la santé budgétaire urbaine (Urban Fiscal Health Dashboard) de Richard Bird pour illustrer les aspects de la santé budgétaire à long terme des administrations locales de l'Ontario. Tout au long de cet article, l'auteur soulève des questions qui méritent d'être approfondies à la lumière de la contribution de Richard Bird à notre compréhension des mécanismes et des implications de la prise des décisions budgétaires locales.Alternate abstract:In the post-pandemic environment, local governments must confront a challenging fiscal environment. Drawing on insights provided over the years by Richard Bird, the author re-examines certain pervasive themes found in discussions and analysis of municipal finance, such as the merits of benefits-based taxation at the local level, the hierarchical constraints on municipal fiscal decision making, and the reality of a perpetual fiscal crisis at the local level. The underlying issue of having to finance a broad set of expenditures on public services from a narrow revenue base has resulted in intergovernmental tensions and continuing debate over the capacity of the property tax base to meet the demands placed on it. Financing local government can be described in terms of borrowing, spending, and taxing. Each of these areas of municipal fiscal decision making was affected by the COVID-19 pandemic. Borrowing rules remained hierarchically constrained, pressure to increase expenditures grew, and tax and fee-based revenues were adversely affected. Further, it seems likely that the municipal fiscal base will be narrowed given the controversy around development charges. The author uses data from Ontario to illustrate the impact of the pandemic on municipal fiscal health. In addition, the paper includes the Richard Bird Urban Fiscal Health Dashboard to illustrate aspects of the long-run fiscal health of Ontario's local governments. Throughout the paper, the author raises questions that merit further research informed by the perspective that Richard Bird brought to our understanding of the mechanics and implications of local fiscal decision making.

Debatable Aspects of the Concept of Tax Expenditures

[...]there is no uniform approach to defining the conceptual model of benchmark structure. [...]in addition to complaints about their overall quality and regularity, it is not possible to determine exactly how close to representative the data are (Redonda & Haldenwang, 2021) both due to different approaches to tax expenditure classification and the fact that governments often provide information only about a part of them, for example, in the US official the report includes an estimate of lost income from the provision of tax benefits only from income taxes. Since its beginning, noted concept has been criticized in academia, including professors Bittker (1969), Mclntyr (1980), and others. According to the Global Tax Expenditures Database (GTED), of the 46 G20 and OECD countries, only two (China and Saudi Arabia) do not publish any official information on tax expenditures, and from EU members just three countries (Croatia, Cyprus and Malta) do not report any tax expenditures. Methods In the process of research, general scientific methods of cognition were used: abstract-logical - to justify the relationship of tax benefits, benchmark structure of the tax and tax expenditures;critical analysis of discussion approaches to determining the components of "structural" benefits;systematic structural analysis to determine the elements of the benchmark structure of the tax;analysis and synthesis - in the process of transition from partial (simple) to integrated determination of tax expenditures;combination of qualitative and quantitative - to analyze both the content and value of individual components of the basic structure of taxes in Ukraine.

Governments measure during the COVID crisis and statistical implications in national accounts: The case of tax deferrals1

During the COVID-19 crisis many European governments have implemented major policy measures to support companies and households coping with the sharp decline in economic activity. Correctly interpreting and recording these measures in the national accounts was a major challenge for compilers who had to ensure not only timely but also independent, reliable, and comparable statistics in exceptional circumstances. High quality official statistics are fundamental for public finance monitoring, both at quarterly and at annual level. They provide informative basis for policy makers and economic analysts and play a central role in the context of the European fiscal surveillance process. This paper discusses how the Italian Statistical institute (ISTAT) managed to quickly respond to the sudden increase in the need for public finance information in the aftermath of government interventions to contrast the consequences of COVID-19 crisis. In particular, the paper focuses on one of the first fiscal actions Italian government enforced immediately following the outbreak that is deferrals of tax obligations. According to OECD (2021) this is the main fiscal relief European countries have introduced in response to Covid crisis. The urgency of giving appropriate trace of these actions in the framework of national accounts has raised a significant methodological issue for compilers, and its solution can be exemplary of an innovative approach to provide data during extraordinary periods remaining as compliant as possible with the conventional processes and codified rules. The approach is based on the combination of new data sources with already existing data, on a strengthen interaction among data providers and government agencies to assure a speedier access to administrative data (Ministry of Finance and Revenue Agency), and on a strict collaboration with European institutions (Eurostat). [ABSTRACT FROM AUTHOR] Copyright of Statistical Journal of the IAOS is the property of IOS Press and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)