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Improving Revenue Collections Through Tax Reforms
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Book Synopsis Improving Revenue Collections Through Tax Reforms by : Dr. Abu Kai Kamara
Download or read book Improving Revenue Collections Through Tax Reforms written by Dr. Abu Kai Kamara and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Revenue Authority (NRA) is a semi-autonomous government revenue authority established by an act of Parliament on 13 September 2002. Operations commenced the following year, in 2003. With the goal of increasing domestic revenue collection and decreasing donor dependence, its primary mandate is to assess and collect tax revenues on behalf of the Government of Sierra Leone (GoSL). Revenue collections are a key instrument for the Government of Sierra Leone in achieving its ambitions for poverty reduction; increasing financial independence; and achieving middle-income status. The study examined the improvement in revenue collections through tax reforms. The objectives of the study were to identify the main tax reforms in the country, assess the impact of tax reforms on revenue generation, and determine the extent to which tax reforms impact Gross Domestic Product (GDP). Data were sourced from the Monitoring, Research, and Planning Department of the NRA and extracted through desk survey method, review of available records, and review of the related literature. Data were analysed by means of tables and bar graphs. The finding revealed that tax reforms still have a significant level of weaknesses and compromises; Sierra Leone is faced with both tax reform policies and revenue administration challenges, like most African countries. Sierra Leone has a narrow tax base which reduces potential revenues and makes the country more dependent than it could be on a small section of society. Broadening the tax base is a key challenge to mitigate this problem. Furthermore, the country is challenged by the growing informal sector making taxation in this sector difficult. It was recommended that for successful tax reform, there should be an interactive forum between the government and taxpayers as a means of finding a common precise, and, definite in its definition of what is obtainable and what is not It was also recommended on the expedition of the automation process of Sierra Leone's tax system to enable majority the of Sierra Leoneans to access information about tax system which will deter corruption, improve effectiveness and efficiency in tax administration incidental to improve tax collections by generating sustainable revenue.
Book Synopsis Case Studies in Tax Revenue Mobilization in Low-Income Countries by : Mr.Bernardin Akitoby
Download or read book Case Studies in Tax Revenue Mobilization in Low-Income Countries written by Mr.Bernardin Akitoby and published by International Monetary Fund. This book was released on 2019-05-14 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can Low-Income Countries (LICs) enhance tax revenue collection to finance their vast development needs? We address this question by analyzing seven tax reform experiences in LICs (Burkina Faso, The Gambia, Maldives, Mauritania, Rwanda, Senegal, and Uganda). Three lessons stand out, although reforms must be tailored to individual circumstances: (i) Tax reforms require first and foremost political commitment and buy-in from key stakeholders; (ii) Countries that pursue both revenue administration and tax policy reforms tend to see much larger and persistent gains; and (iii) A successful strategy often starts with fiscal reform measures with immediate effect to build momentum. These can include: simplifying the tax system; curbing exemptions; reforming indirect taxes on goods and services (e.g., excises); and better managing compliance risks through strengthening taxpayer segmentation (often beginning with strengthening the Large Taxpayers Office). A comprehensive reform strategy (e.g., a medium-term revenue strategy) can help to properly sequence reform measures and facilitate their implementation.
Book Synopsis Current Challenges in Revenue Mobilization - Improving Tax Compliance by : International Monetary Fund
Download or read book Current Challenges in Revenue Mobilization - Improving Tax Compliance written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-01-29 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper addresses core challenges that all tax administrations face in dealing with noncompliance—which are now receiving renewed attention. Long a priority in developing countries, assuring strong compliance has acquired greater priority in countries facing intensified revenue needs, and is critical for fairness and statebuilding. Series: Policy Papers
Book Synopsis Designing a Tax Administration Reform Strategy by : Ms.Katherine Baer
Download or read book Designing a Tax Administration Reform Strategy written by Ms.Katherine Baer and published by International Monetary Fund. This book was released on 1997-03-01 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Building on previous FAD work in the tax administration field, this paper defines broad criteria for diagnosing the problems in a country’s tax administration and formulating an appropriate reform strategy. To be effective, this strategy should be based on the size of the tax gap and the country’s particular circumstances. This paper discusses some guiding principles which have provided the basis for successful reforms, including: reducing the tax system’s complexity, encouraging taxpayers’ voluntary compliance, differentiating the treatment of taxpayers by their revenue potential, and ensuring the reform’s effective management. Also discussed are specific bottlenecks that hinder the effectiveness of the tax administration’s operations.
Book Synopsis Revenue Mobilization in Developing Countries by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Revenue Mobilization in Developing Countries written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2011-08-03 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fund has long played a lead role in supporting developing countries’ efforts to improve their revenue mobilization. This paper draws on that experience to review issues and good practice, and to assess prospects in this key area.
Book Synopsis Tax Revenue Mobilization Episodes in Emerging Markets and Low-Income Countries: Lessons from a New Dataset by : Mr.Bernardin Akitoby
Download or read book Tax Revenue Mobilization Episodes in Emerging Markets and Low-Income Countries: Lessons from a New Dataset written by Mr.Bernardin Akitoby and published by International Monetary Fund. This book was released on 2018-11-02 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do countries mobilize large tax revenue—defined as an average increase in the tax-to-GDP ratio of 0.5 percent per year over three years or more? To answer this question, we build a novel dataset covering 55 episodes of large tax revenue mobilization in low-income countries and emerging markets. We find that: (i) reforms of indirect taxes and exemptions are the most common tax policy measures; (ii) multi-pronged tax administration reforms often go hand in hand with tax policy measures or are stand alone; and (iii) sustainability of the episodes hinges on tax administration reforms in the key compliance areas (risk-based audits, registration, filing, payment, and reporting).
Book Synopsis Funding the Future: Tax Revenue Mobilization in the Pacific Island Countries by : Mouhamadou Sy
Download or read book Funding the Future: Tax Revenue Mobilization in the Pacific Island Countries written by Mouhamadou Sy and published by International Monetary Fund. This book was released on 2022-09-12 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pacific Island Countries (PICs) face daunting spending needs related to achieving the UN Sustainable Development Goals (SDGs) and adapting to the effects of climate change. Boosting tax revenues will need to be an essential pillar in creating the fiscal space to meet SDG and climate-adaptation spending needs. This paper assesses the additional tax revenue that PICs could potentially collect and discusses policy options to achieve such gains. The main objectives of the paper are to (1) review the critical medium-term development spending requirements and available financing options, (2) document the main stylized facts about tax revenues in the PICs and estimate the additional tax revenue that countries could raise, (3) highlight the main bottlenecks preventing the PICs from further increasing their tax revenue collection with an emphasis on weaknesses in VAT systems, (4) draw lessons from successful emerging and developing countries that have managed to substantially and durably increased their tax revenues, and (5) propose tax policy and revenue administration reform priorities for Pacific Island Countries to boost tax revenues. The paper’s main findings are (1) The current revenue mix is skewed toward non-tax revenues, (2) PICs could collect an additional 3 percent of tax revenue in the short to medium term, (3) Many bottlenecks are preventing the PICs from boosting their tax revenue collection, and (4) The potential offered by efficient VAT systems is not fully exploited. To increase tax revenue in the Pacific Islands, the paper proposes the following reforms: (1) unwinding recent fiscal relief measures, (2) strengthening or introducing a VAT system; (3) rationalizing tax exemptions, (4) closing loopholes in the tax system, (5) reforming tax administration, and (6) introducing a medium-term revenue strategy.
Book Synopsis Making Money Matter by : National Research Council
Download or read book Making Money Matter written by National Research Council and published by National Academies Press. This book was released on 1999-11-30 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States annually spends over $300 billion on public elementary and secondary education. As the nation enters the 21st century, it faces a major challenge: how best to tie this financial investment to the goal of high levels of achievement for all students. In addition, policymakers want assurance that education dollars are being raised and used in the most efficient and effective possible ways. The book covers such topics as: Legal and legislative efforts to reduce spending and achievement gaps. The shift from "equity" to "adequacy" as a new standard for determining fairness in education spending. The debate and the evidence over the productivity of American schools. Strategies for using school finance in support of broader reforms aimed at raising student achievement. This book contains a comprehensive review of the theory and practice of financing public schools by federal, state, and local governments in the United States. It distills the best available knowledge about the fairness and productivity of expenditures on education and assesses options for changing the finance system.
Book Synopsis Tax Administration 2021 Comparative Information on OECD and other Advanced and Emerging Economies by : OECD
Download or read book Tax Administration 2021 Comparative Information on OECD and other Advanced and Emerging Economies written by OECD and published by OECD Publishing. This book was released on 2021-09-15 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report is the ninth edition of the OECD's Tax Administration Series. It provides internationally comparative data on aspects of tax systems and their administration in 59 advanced and emerging economies.
Book Synopsis Modernizing Local Government Taxation in Indonesia by : Asian Development Bank
Download or read book Modernizing Local Government Taxation in Indonesia written by Asian Development Bank and published by Asian Development Bank. This book was released on 2022-03-01 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Indonesia, the provincial, city, and regency governments typically rely on the central government for financial support. A shift toward the collection of their own tax revenues would strengthen local governments’ autonomy and encourage accountability to their communities. During 2015–2020, the Tax Revenue Administration Modernization and Policy Improvement in Local Governments (TRAMPIL) project, supported by the Asian Development Bank, provided technical assistance to help Indonesia’s subnational governments collect more locally sourced tax revenues. This report describes the challenges and achievements of TRAMPIL project activities. It presents TRAMPIL’s policy recommendations in the context of Indonesia’s economic and legal parameters on regional autonomy.
Book Synopsis Sin Tax Reform in the Philippines by : Kai Kaiser
Download or read book Sin Tax Reform in the Philippines written by Kai Kaiser and published by World Bank Publications. This book was released on 2016-07-14 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excise taxes on tobacco and alcohol products can be an effective instrument for promoting public health through the curbing of smoking and excessive drinking, while raising significant financing for development priorities. Designed and implement well, excise taxes represent a win-win for public health and finances. While the public policy rationale for excise reforms is strong in both developed and developing countries, realizing reforms in practice often faces significant opposition by the industry and vested interests. Low level, complex and poorly designed excise tax regimes persist. Getting the technical details right, and effectively managing the political economy of reforms, are vital to securing better excise tax outcomes. The Philippines passed in 2012, implemented, and has been results monitoring a successful tobacco and alcohol tax, dubbed Sin Tax. The reform not only greatly increased, simplified and improved the excise tax reform, but also earmarked the significant part of the large ensuring incremental revenues to helping finance Universal Health Care (UHC) for the bottom forty percent of the population. Sin Tax Reform in the Philippines summarizes both the technical and political economy aspects of tobacco and excise tax reforms. The study analyzes issues of rate structure and levels, implementation phasing, and equity impact analysis. The book is intended as a resource for audiences in both the Philippines and other countries wishing to promote successful excise tax reforms to towards between public sector governance, finances and health. For the Philippines, it highlights measures to ensure that the revenue and expenditure measures associated with the reform continue to be delivered, and can be deepened over time. The Philippines experience should prove encouraging and useful for reform champions in other countries advancing similar types of excise tax and development financing/expenditure earmarking for equitable development and public health.
Book Synopsis Strengthening Domestic Resource Mobilization by : Raul Felix Junquera-Varela
Download or read book Strengthening Domestic Resource Mobilization written by Raul Felix Junquera-Varela and published by World Bank Publications. This book was released on 2017-06-29 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public spending plays a key role in the economic growth and development of most developing economies. This book analyzes revenues, policy, and administration of Domestic Resource Mobilization (DRM) in developing countries. It provides a broad landscape of practical examples, drawing from lessons learned in World Bank operations across Global Practices over the past several decades. It should be thought of as a starting point for a more comprehensive research agenda rather than a complete inventory itself. This book reviews the trends in tax revenue collection in developing countries. It provides an overview of efforts to close the revenue gap, many of which have been supported by World Bank operations. The book reviews the special challenges facing low income countries, which have traditionally relied on indirect revenues in the context of limited formalization of their economies. An overview of tax policy and administration reform programs is presented, with an overview of outstanding issues that will shape the policy agenda in years ahead.
Book Synopsis Tax Administration Reform in China by : John Brondolo
Download or read book Tax Administration Reform in China written by John Brondolo and published by International Monetary Fund. This book was released on 2016-03-17 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tax administration improvements have contributed significantly to a doubling of China’s tax-to-GDP ratio and the substantial reduction in taxpayers’ compliance costs since the mid-1990s. This paper describes the key features of China’s tax administration and their evolution over the last 20 years. It also identifes emerging challenges to the tax system and areas where further tax administration improvements are needed to sustain tax revenue and reduce taxpayers’ compliance costs in the future.
Book Synopsis The Ecology of Tax Systems by : Vito Tanzi
Download or read book The Ecology of Tax Systems written by Vito Tanzi and published by Edward Elgar Publishing. This book was released on 2018-03-30 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: This groundbreaking book analyzes how the ecology of taxation is fundamental for the success or failure of tax systems. It specifically focuses on the role of the ecological environment on taxation; the factors that determine the ecology of taxation; and how the ecology of taxation has changed and may continue to evolve. The implicit, important conclusion is that there are no permanent or universal optimal tax theories: all theories are related to this ecology.
Book Synopsis A Comprehensive Assessment of Tax Capacity in Southeast Asia by : Asian Development Bank
Download or read book A Comprehensive Assessment of Tax Capacity in Southeast Asia written by Asian Development Bank and published by Asian Development Bank. This book was released on 2021-12-01 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: As Southeast Asia reels from the impacts of the coronavirus disease (COVID-19), domestic resource mobilization (DRM) has never been more challenging or more critical. Prior to the pandemic, many countries in the region were not achieving a tax yield of 15% of gross domestic product—the level considered to be the minimum for sustainable development. The pandemic has further reduced tax revenues and public expenditures are facing increasing pressure. This publication identifies technical, policy, and administrative tax capacity issues faced by ten countries in Southeast Asia. It also explores potential policy and administrative measures to strengthen DRM.
Book Synopsis Brazil: Tax Expenditure Rationalization Within Broader Tax Reform by : Maria Delgado Coelho
Download or read book Brazil: Tax Expenditure Rationalization Within Broader Tax Reform written by Maria Delgado Coelho and published by International Monetary Fund. This book was released on 2021-09-24 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: The excessive complexity and burden of the Brazilian tax system, riddled by cumulative indirect taxes and heavy payroll contributions, have led to an accumulation of fiscal incentives aimed at reducing its burden on taxpayers and productive activities. Federal and subnational tax expenditures currently stand at over 5 percent of GDP. Rationalizing them can only be comprehensively feasible in the context of a broader sequenced tax reform, and could reduce resource misallocation and income inequality, as well as provide new revenues.
Book Synopsis Taxation in Asia by : Jorge Martinez-Vazquez
Download or read book Taxation in Asia written by Jorge Martinez-Vazquez and published by Asian Development Bank. This book was released on 2011-06-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication presents an overview of tax policy and tax administration issues---how countries in Asia and the Pacific compare with the rest of the world in main taxes, revenue collections, tax morale, and others. The implications of reducing reliance on customs tariff revenues and of using the value-added tax on a broader basis, especially in the services sector, have been analyzed. This note suggests an agenda for reform by discussing whether there is space to increase national revenue collections, how to improve tax administration and enforcement, and how these reforms interact with the decentralization paradigm. The individual country performances, the extent of the shadow economy, and lessons on reforming tax administration have been referenced.
