Philippines: Selected Issues

International Monetary Fund

No 2013/103, IMF Staff Country Reports from International Monetary Fund

Abstract: This article is an empirical analysis on tax collections in the Philippines. The tax system is characterized by a rule of tax incentives provided by 13 investment agencies. Tax collections showed regular growth. The GDP ratio increased from 12.1 percent (2009) to 12.8 percent (2012), but the revenue-to-GDP ratio was low to fill large gaps for education, health, and infrastructure; therefore the authorities encompassed the sin taxes (alcohol and tobacco excises). The most important source of income for the Philippines is the labor export. This large-scale labor emigration fetches a sufficient amount of annual inflows of more than 9 percent of GDP.

Keywords: ISCR; CR; Philippines; remittance; VAT; excise; remittance inflow; Bangko Sentral ng Pilipinas; excise tax tax collection; worker household; elasticity estimate; Tax collection; Corporate income tax; Value-added tax; Personal income tax; Remittances; Global (search for similar items in EconPapers)
Pages: 26
Date: 2013-04-18
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Citations: View citations in EconPapers (1)

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