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

March 19, 2012

Preview Citation

Format: Chicago

Philippines: Technical Assistance Report on Road Map for a Pro-Growth and Equitable Tax System, (USA: International Monetary Fund, 2012) accessed December 3, 2024

Summary

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.

Subject: Corporate income tax, Excises, Income and capital gains taxes, Revenue administration, Tax incentives, Taxes

Keywords: Corporate income tax, CR, Excise rate, Excise tax, Excises, Flat rate, Global, Gross sales, Income and capital gains taxes, Income tax, ISCR, Tax burden, Tax incentives, Tax rate, Tax revenue, Tax system, Taxable income, Withholding tax

Publication Details

Pages:

71
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/060
Stock No:

1PHLEA2012003
ISBN:

9781475502411
ISSN:

1934-7685

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