Philippines: Selected Issues

April 18, 2013

Preview Citation

Format: Chicago

Philippines: Selected Issues, (USA: International Monetary Fund, 2013) accessed November 21, 2024

Summary

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.

Subject: Balance of payments, Corporate income tax, Personal income tax, Remittances, Revenue administration, Tax collection, Taxes, Value-added tax

Keywords: Bangko Sentral ng Pilipinas, Corporate income tax, CR, Elasticity estimate, Excise, Excise tax tax collection, Global, ISCR, Personal income tax, Philippines, Remittance, Remittance inflow, Remittances, Tax collection, Value-added tax, VAT, Worker household

Publication Details

Pages:

26
Volume:

---
DOI:

---
Issue:

---
Series:

Country Report No. 2013/103
Stock No:

1PHLEA2013002
ISBN:

9781484301067
ISSN:

1934-7685

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Staff Country Reports