Philippines : Selected Issues
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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.
Series:
Country Report No. 13/103
Subject:
Business cycles Capital inflows Philippines Revenue mobilization Selected issues Tax collection Tax policy Tax revenues Workers remittances
English
Publication Date:
April 18, 2013
ISBN/ISSN:
9781484301067/1934-7685
Stock No:
1PHLEA2013002
Format:
Paper
Pages:
26
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