Philippines: Selected Issues

April 18, 2013

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Philippines: Selected Issues, (USA: International Monetary Fund, 2013) accessed September 18, 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:

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DOI:

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Issue:

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Series:

Country Report No. 2013/103
Stock No:

1PHLEA2013002
ISBN:

9781484301067
ISSN:

1934-7685

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