Philippines: Technical Assistance Report on Road Map for a Pro-Growth and Equitable Tax System
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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.
Series:
Country Report No. 2012/060
Subject:
Corporate income tax Excises Income and capital gains taxes Revenue administration Tax incentives Taxes
English
Publication Date:
March 19, 2012
ISBN/ISSN:
9781475502411/1934-7685
Stock No:
1PHLEA2012003
Pages:
71
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