Trends and Future Directions in Tax Policy Reform: A Latin American Perspective

June 1, 1992

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Parthasarathi Shome. Trends and Future Directions in Tax Policy Reform: A Latin American Perspective, (USA: International Monetary Fund, 1992) accessed December 26, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Tax reform in Latin America during the 1980s emphasized broad-based, low-rate consumption taxes over steeply progressive income and property taxes, primarily to simplify the tax structure and facilitate tax administration. While tax reform need not necessarily raise tax-to-GDP ratios, countries that undertook tax reform experienced a higher revenue gain in terms of GDP relative to those that did not. Tax reform issues during the 1990s will include a minimum income tax, alternative corporate taxes (cash flow tax, assets tax), capturing difficult tax bases (financial intermediation, property), environment taxes, extending withholding as a taxing mechanism, and tax harmonization.

Subject: Corporate income tax, Income and capital gains taxes, Income tax systems, Personal income tax, Taxes, Value-added tax

Keywords: Cash flow, Corporate income tax, Double taxation, Flat rate, Global, Import duty, Income and capital gains taxes, Income tax systems, Income tax tax revenue, North America, Personal income, Personal income income tax, Personal income tax, Progressive tax, Property tax, Rates pari passu, Revenue dependence, Tax rate, Uniform VAT rate, Value-added tax, VAT revenue base, WP

Publication Details

Pages:

34
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1992/043
Stock No:

WPIEA0431992
ISBN:

9781451846263
ISSN:

1018-5941

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