Peru: Technical Assistance Report-Tax Regime for Small Taxpayers and Special Economic Zones
Peru: Technical Assistance Report-Tax Regime for Small Taxpayers and Special Economic Zones

Author: International Monetary

Publisher: International Monetary Fund

Published: 2022-02-11

Total Pages: 68

ISBN-13:

DOWNLOAD EBOOK

The topics discussed in this report are tax regimes for small taxpayers (Chapter II) and the tax treatment of special economic zones (Chapter III). Although these aspects of the tax system have little direct effect on public finances, they affect many people and how those people make decisions or impact the positioning of certain regions relative to the rest of the country. Both are of social and political scope that is disproportionate to their magnitude of tax revenue collection, which is why their design must remain focused in its most strategic sense.

Maldives
Maldives

Author: International Monetary Fund. Fiscal Affairs Dept.

Publisher: International Monetary Fund

Published: 2019-07-02

Total Pages: 148

ISBN-13: 1498323383

DOWNLOAD EBOOK

This report reviews tax policy in the Maldives and identifies reform options to support efficiency, equity, and revenue. The absence of a broad-based personal income tax (PIT) generates revenue leakages and significantly diminishes the role of tax policy in income redistribution. A modern tax design requires a holistic view of the taxation of different sources of income and different legal forms of taxpayers to maintain tax neutrality, to the extent possible, while preserving some degrees of progressivity, simplicity, and administrability. Moreover, updating the tax system to cope with recent international developments is vital to safeguard revenues. While strengthening the goods and services tax (GST) can raise revenues in the short- to medium-term, a property tax is an important option for the long-term. The diagram below demonstrates reform priorities, as identified in this report, to modernize tax policy in the Maldives.

Doing Business 2020
Doing Business 2020

Author: World Bank

Publisher: World Bank Publications

Published: 2019-11-21

Total Pages: 254

ISBN-13: 1464814414

DOWNLOAD EBOOK

Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.

Brazil: Tax Expenditure Rationalization Within Broader Tax Reform
Brazil: Tax Expenditure Rationalization Within Broader Tax Reform

Author: Maria Delgado Coelho

Publisher: International Monetary Fund

Published: 2021-09-24

Total Pages: 46

ISBN-13: 1513596624

DOWNLOAD EBOOK

The excessive complexity and burden of the Brazilian tax system, riddled by cumulative indirect taxes and heavy payroll contributions, have led to an accumulation of fiscal incentives aimed at reducing its burden on taxpayers and productive activities. Federal and subnational tax expenditures currently stand at over 5 percent of GDP. Rationalizing them can only be comprehensively feasible in the context of a broader sequenced tax reform, and could reduce resource misallocation and income inequality, as well as provide new revenues.

Tax Administration Reform in China
Tax Administration Reform in China

Author: John Brondolo

Publisher: International Monetary Fund

Published: 2016-03-17

Total Pages: 67

ISBN-13: 1475523610

DOWNLOAD EBOOK

Tax administration improvements have contributed significantly to a doubling of China’s tax-to-GDP ratio and the substantial reduction in taxpayers’ compliance costs since the mid-1990s. This paper describes the key features of China’s tax administration and their evolution over the last 20 years. It also identifes emerging challenges to the tax system and areas where further tax administration improvements are needed to sustain tax revenue and reduce taxpayers’ compliance costs in the future.

Kingdom of the Netherlands—Sint Maarten: Technical Assistance Report—Sustainable Tax Reforms
Kingdom of the Netherlands—Sint Maarten: Technical Assistance Report—Sustainable Tax Reforms

Author: International Monetary

Publisher: International Monetary Fund

Published: 2021-10-19

Total Pages: 32

ISBN-13: 161635111X

DOWNLOAD EBOOK

Sint Maarten’s economy has been hit hard over the last 4 years. In 2017, two major hurricanes struck the island causing significant damage. While reconstruction was largely financed by insurance proceeds and grants from The Netherlands, economic recovery from the hurricane damage was slow and in early 2020 the coronavirus pandemic shut down most of Sint Maarten’s tourism sector. As a result, fiscal revenue declined by 15 percent since 2016; payroll tax revenue declined by only 4.5 percent, whereas the turnover tax revenue declined by 23 percent. Since April 2020, The Netherlands has provided immediate financial support to cushion the economic shock of the pandemic. In December 2020, Sint Maarten concluded an agreement with The Netherlands to receive more substantial financial support for recovery and ensuring long-term fiscal sustainability. In return, the authorities committed to make structural changes to their tax system, making it more growth-friendly and equitable, while optimizing and ensuring its revenue mobilization capacity.

Revenue Mobilization in Developing Countries
Revenue Mobilization in Developing Countries

Author: International Monetary Fund. Fiscal Affairs Dept.

Publisher: International Monetary Fund

Published: 2011-08-03

Total Pages: 86

ISBN-13: 1498339247

DOWNLOAD EBOOK

The Fund has long played a lead role in supporting developing countries’ efforts to improve their revenue mobilization. This paper draws on that experience to review issues and good practice, and to assess prospects in this key area.

How to Design a Presumptive Income Tax for Micro and Small Enterprises
How to Design a Presumptive Income Tax for Micro and Small Enterprises

Author: Jean-François Wen

Publisher: International Monetary Fund

Published: 2023-06-29

Total Pages: 26

ISBN-13:

DOWNLOAD EBOOK

Turnover taxes are prevalent in developing countries as a simple form of presumptive taxation of business income. Such simplified tax regimes can reduce the relatively high compliance costs of micro and small enterprises, which might otherwise discourage entrepreneurs from formalizing their activities and paying taxes. The note addresses design issues for a turnover tax regime—which taxes it replaces, what the criteria are for eligibility, how to determine the optimal threshold, and how to set the tax rate. A key observation is that, although low turnover tax rates may incite larger firms to artificially reduce their sales, the rate should also not be so high as to discourage formalization of activities. A table of tax rates and turnover thresholds observed internationally is provided. The note concludes by suggesting analytical steps to guide practitioners in designing turnover tax regimes.

Fiscal Regimes for Extractive Industries—Design and Implementation
Fiscal Regimes for Extractive Industries—Design and Implementation

Author: International Monetary Fund. Fiscal Affairs Dept.

Publisher: International Monetary Fund

Published: 2012-08-16

Total Pages: 82

ISBN-13: 1498340067

DOWNLOAD EBOOK

Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: ????? ??????? ?????? ???????? ???????????: ??????? ???????? Also available in French: Régimes fiscaux des industries extractives: conception et application Also available in Spanish: Regímenes fiscales de las industrias extractivas: Diseño y aplicación

Designing a Tax Administration Reform Strategy
Designing a Tax Administration Reform Strategy

Author: Ms.Katherine Baer

Publisher: International Monetary Fund

Published: 1997-03-01

Total Pages: 37

ISBN-13: 1451980396

DOWNLOAD EBOOK

Building on previous FAD work in the tax administration field, this paper defines broad criteria for diagnosing the problems in a country’s tax administration and formulating an appropriate reform strategy. To be effective, this strategy should be based on the size of the tax gap and the country’s particular circumstances. This paper discusses some guiding principles which have provided the basis for successful reforms, including: reducing the tax system’s complexity, encouraging taxpayers’ voluntary compliance, differentiating the treatment of taxpayers by their revenue potential, and ensuring the reform’s effective management. Also discussed are specific bottlenecks that hinder the effectiveness of the tax administration’s operations.