Corporate income tax (CIT) revenues remained at historically high levels in 2023, while corporate tax rates have broadly stablised, according to the 2026 edition of OECD Corporate Tax Statistics released today. Across 135 jurisdictions for which data is available, CIT revenues accounted for 17.3% of total tax revenues and 3.5% of GDP on average. While slightly lower than in 2022, these levels remain above pre-pandemic levels and earlier historical peaks. Corporate tax revenues continue to represent an important source of public finances, particularly...

Read more

IMF Blog post | Stronger oversight, better data, and deeper coordination are needed to safeguard faster and more interconnected markets Artificial intelligence is reshaping how financial firms price risk, allocate credit, and respond to stress. It is increasingly embedded in the decision‑making architecture of the financial system. For central banks and financial supervisors, the key challenge is ensuring that AI is governed in ways that reinforce, rather than undermine, financial stability. Three priorities stand out: Strengthen oversight and governance of AI‑driven...

Read more

Today, the European Commission published guidelines to assist providers and deployers of artificial intelligence (AI) systems in meeting the AI Act's transparency obligations, which start to apply on 2 August 2026. Transparency obligations will help people recognise when they are interacting with AI or when content has been generated or altered by AI, reducing the risk of deception and manipulation. The guidelines published today clarify which providers and deployers must comply with the transparency obligations for interactive AI systems and...

Read more

The European Central Bank (ECB) has selected 36 payment service providers (PSP) from across the euro area to participate in the digital euro pilot. The pilot exercise is crucial for testing the digital euro’s technical functionality and operational processes, as well as for refining user experience. The pilot aims to support the ongoing preparatory work for the potential issuance of a digital euro, and is due to start during the second half of 2027 for a period of 12...

Read more

The European Commission today adopted a Communication on the competitiveness of the EU banking sector, setting out measures to strengthen the Single Market for banking.  President of the European Commission Ursula von der Leyen said: "Getting capital flowing is how we will get Europe growing. Our Savings and Investments Union needs a strong, competitive banking sector at its heart. And today's Communication takes a clear step in this direction, recalibrating our approach to risk, and enabling growth and innovation while...

Read more

IMF Blog post | Less demand, more production, and inventory drawdowns prevented a larger price spike. A quick supply recovery is essential to avoid further damage to the global economy   The largest disruption to the global oil market in decades should have sent prices soaring. But after spiking at the start of the war in the Middle East, crude prices soon settled in a range of $90 to $100 per barrel, much lower than many had feared. Why didn’t prices...

Read more

Blog post | Changes in global trade policies and heightened trade tensions pose a challenge for euro area firms, particularly those operating internationally. For banks, these developments increase credit risk: the firms affected can face volatile demand, supply disruptions and squeezed margins, and may find it harder to service their debts. This post looks at how euro area banks have responded to rising trade tensions since 2025, drawing on granular analyses of loan portfolios from AnaCredit and survey data from the euro...

Read more