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Philippines :, Technical Assistance Report on Road Map for a Pro-Growth and Equitable Tax System

Philippines :, Technical Assistance Report on Road Map for a Pro-Growth and Equitable Tax System
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
Bibliography note
Includes bibliographical references
international or intergovernmental publication
Literary Form
non fiction
Main title
Philippines :
Nature of contents
Series statement
IMF Staff Country Reports
Sub title
Technical Assistance Report on Road Map for a Pro-Growth and Equitable Tax System
Table Of Contents
Cover; Contents; Preface; Acronyms; Executive Summary; Tables; 1. Mission Assessment and Key Issues in Implementing Tax Reform Plans; 2. Estimated Revenue Impact; I. Introduction and Progress in Tax Reform; A. Background; B. Progress Made in Implementing the 2010 FAD Mission Recommendations; C. Assessment of the World Bank Recommendations; II. Tax Incentives; A. Overview; B. Effects and Costs of Tax Incentives; C. How does the Philippines Compare with Other Countries?; D. Options for Reforming Tax Incentives; 3. Comparison of Tax Incentive Reform Bills; III. Other CIT Issues; A. Tax RateB. CooperativesC. Taxation of Capital Gains; D. International Taxation; E. Thin Capitalization; F. Exchange of Information; IV. Excise Taxes; A. Overview; 4. Regional Comparison of Shares of Taxes; 5 Regional Comparison of Tax Structures, as Share of Total Revenues; B. Specific vs. Ad Valorem Tax Rates and the Mixed Use of Both; 6. Comparison of Regional Cigarette and Alcohol Excise Taxes; 7. The Impact of an Ad Valorem Tax on Retail Prices; C. Earmarking Excise Taxes on Tobacco and Alcohol; D. Tobacco Excises; 8. Effect of Specific Excise on the Relative Price of High Quality Brand9. Tax Burden of Current Excise Tax on Tobacco10. The Current Excise Taxes on Tobacco Products and DOF's Proposal; 11. Tax Burden of PHP24 Specific Excise Tax Rate; E. Excise on Alcohol Beverages; 12. The Tax Burden of Excise Taxes on Fermented Liquor and Distilled Spirites: DOF's Proposal; F. Petroleum Excises; G. Excise Taxation of Telecommunication Services; V. Personal Income Tax; A. Rate Schedule; 13. Personal Income Tax: Rate Schedule; 14. Comparison of Maximum Rate Entry Income in Selected Countries; 15. Personal Income Tax: Inflation Adjusted Rate ScheduleB. Taxation of Self-Employed16. The Proposed Tax Brackets; 17. Comparison of Self-Employed and Wage Earners; C. Remittance of Citizen Workers Abroad; VI. Mining Taxation Regime; A. Overview of the Existing Regime; 18. Contribution of the Mining Industry to the Philippine Economy; 19. Revenues from Mining Industry as Share of GDP; B. Necessary Reforms; 20. Current Structure of the Mining Fiscal Regime in the Philippines; 21. Additional Characteristics of the Mining Fiscal Regime in the Philippines; VII. Road Map for Tax Reform; 22. Road Map for Feasible Tax Reform Plans; Appendixes1. Main Recommendations of the 2010 FAD Mission2. Regional Comparison of Investment Tax Incentives; 3. Summary of Fiscal Regime for Gold Mining in Selected Gold Producing; 4. Oil Extraction Fiscal Terms in Selected Countries; References