Philippines: Technical Assistance Report on Road Map for a Pro-Growth and Equitable Tax System

International Monetary Fund

No 2012/060, IMF Staff Country Reports from International Monetary Fund

Abstract: The Technical Assistance Report on the Philippines’ road map for a pro-growth and equitable tax system is examined. Tax revenue has declined over the last decade in the Philippines owing to generous and expanding tax incentives, tariff rate reduction, deteriorating tax compliance caused by ineffective and inefficient revenue administration, and a gradual erosion of excise revenue owing to nonindexation. One of the key reasons for providing tax incentives in the Philippines is concern that the country needs to be competitive with other countries in the region to attract foreign direct investment.

Keywords: ISCR; CR; excise tax; tax rate; tax burden; income tax; tax revenue; withholding tax; gross sales; flat rate; taxable income; tax system; excise rate; Excises; Tax incentives; Corporate income tax; Income and capital gains taxes; Global (search for similar items in EconPapers)
Pages: 71
Date: 2012-03-19
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Citations: View citations in EconPapers (1)

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