Governments faced with economic upheaval caused by artificial intelligence should consider fiscal policies including taxes on excess profits and a green levy to atone for AI-related carbon emissions, according to the International Monetary Fund.
Given the large amount of energy consumed by AI servers, taxing the associated carbon emissions is a good way to reflect the external environmental costs in the price of the technology, said the IMF in a report published on Monday.
The IMF report counselled against taxing investment in AI but suggested raising capital income taxes such as corporation tax and personal income taxes on interest, dividends and capital gains.
#ai-related-economic-challenges #fiscal-policies #carbon-emissions #taxes-on-excess-profits #inequality
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