International monetary fund 1 june 2015 sdn15 i m f s t a f f d i s c u s s i on n o t e causes and consequences of income inequality. Browse in annual report of the executive board, book imf. In its last report on public finances, the imf is clearly eying this solution. This report in whole or in part or summaries thereof may. Igt identifiable group tax imf international monetary fund. For this edition, 56 countries including all oecd, eu and g20 members have contributed to the report. Domestic resource mobilization and taxation international monetary fund. International monetary fund annual report 2019 pdf 10 mb epub 7 mb international monetary fund annual report 2019. Egypt introduced a 10 percent capital gains tax on listed shares on the stock market in 2014, but halted it in may 2015. Redistribution is a winwin situation and overall has a progrowth effect, and. Newly included countries are costa rica, croatia, morocco, and thailand. The current psi was approved by the imfs executive board in june 20 with an.
As highlighted by the 2016 itaf report, ensuring consistency in measuring the sdg. In response to the call from g20 leaders, the oecd secretariat and imf staff produced a comprehensive report on tax certainty oecd imf report on tax certainty, the 2017 report. Oct 16, 20 in its last report on public finances, the imf is clearly eying this solution. Devon rowe, financial secretary of ministry of finance and planning mofp, requested fiscal affairs department fad, imf, to provide a tax gap analysis for the general consumption tax gct in jamaica. In both of these jurisdictions, the drop was driven by a decline in commodity prices. Illicit financial flows to and from 148 developing countries.
Imf staff imf staff imf staff imf staff imf staff imf staff est. The report provides a unique insight into tax administration. The contributions to this report were provided by mr. The staff report prepared by a staff team of the imf for the executive boards consideration on january 28, 2015, following discussions that ended on november 25, 2014, with the officials of the arab republic of egypt on economic developments and policies. National association of state budget officers, 2015. The imfs world revenue longitudinal data set world is a compilation of government tax and nontax revenues from the imfs government finance statistics and world economic outlook, and drawing on t. Commodity price fluctuations, terms of trade, financial development, commodity, exchange, debt.
The staff report on fiscal policy and longterm growth, prepared by. In spain, private sector credit as a share of gdp almost doubled between 2000 and 2007. With the 2015 annual report, we highlight the imfs work in these and other areas with a new approach. Imf study finds inequality is damaging to economic growth.
Making trade an engine of growth for all global trade. World revenue longitudinal data world dataset by imf. The staff report prepared by a staff team of the imf for the executive boards consideration on june 29, 2015, following discussions that ended on may 14, 2015, with the officials of uganda on economic developments and policies. This report identified the sources of uncertainty in tax matters and the. In 2015, 31 states and the district of columbia had a formal revenue estimating group. Congressional budget office the distribution of household income, 2015 november 2018. The findings reflect a growing chorus calling for reforms in energy subsidies. This is the eighth report in a series that we have provided since 2008. Imf support for strengthening tax systems increased by 46 percent between 2015 and 2018. Regional economic outlook, april 2016, subsaharan africa. At that level, coal prices would rise by more than 200% above. Support for building state capacity to manage public investment increased, with detailed diagnostics of public investment management capacity undertaken in over. Treasury inspector general for tax administration tigta analysis of collection activity report. International monetary fund annual report 2015 paperback.
Jamaica revenue administration gap analysis program the. The staff report prepared by a staff team of the imf for the executive boards consideration on july 29, 2015, following discussions that ended on may 28, 2015 with the officials of saudi arabia on economic developments and policies. This report covers the work of the imfs executive board and contains financial statements for the year may 1, 2014, to april 30, 2015. The imfs report said a meaningful carbon tax is the single most powerful way to hand the climate crisis, since it allow businesses and households to find the lowestcost ways of reducing energy use and transitioning towards cleaner alternatives. The views expressed are those of the authors and do not necessarily represent the views of the imf and its executive board. Imfblog is a forum for the views of the international monetary fund imf staff and officials on pressing economic and policy issues of the day. The role of trade in the global economy is at a critical juncture. There are four main channels through which tax and expenditure. Upsc had tested the knowledge of aspirants about the names of reports published by various organisations in civil services examination prelims 2014 and civil services examination prelims 2015.
The contents of this report constitute technical advice provided by the staff of the international monetary fund imf to the authorities of in trinidad and tobago response to their request for technical assistance. Since the public debt of the major european countries surpasses 100% of their gdp, a red line, the institution led by christine lagarde is contemplating a 10% tax on all private savings. Highlights of our research for the year 2015 using the direction of trade statistics dots dataset from the imf show that. Increased trade integration helped to drive economic growth in advanced and developing economies in the latter part of the 20. In fy 201415, tax revenue was almost 20 percent lower than in fy 201011. There is surprisingly little evidence that increases in tax rates impede mediumtolongrun economic growth, the imf paper says. Construction activity can signal when credit booms go wrong.
It is based on the information available at the time it was completed on february 17, 2015. Carbon tax most powerful way to combat climate change. Revenue forecasting practices full report tax policy. The imf pressed egypt to reinstate the tax, citing the potential for strong. Interamerican development bank, the international monetary fund, and the world bank. We knew we were in for a tough time when the leaders of the group of twenty g20 asked the imf to give them our views, at their summit coming up in june 2010, on the range of options countries have adopted or are considering as to how the financial sector could make a fair and substantial contribution toward paying for any burden associated. It is based on the information available at the time it was completed in november 2015. It is based on the information available at the time it was completed on june 26, 2017. From fys 2011 through 2015, the collection function received an average of 707,789 tda modules each year resulting from an examination assessment. Options for low income countries effective and efficient use. Options for low income countries effective and efficient use of tax.
Nasbo did not report revenue forecasting timeline for north dakota in 2015. Level and structure of tax revenues in bosnia and herzegovina. This selected issues paper on uganda was prepared by a staff team of the international monetary fund as background documentation for the periodic consultation with uganda. The tgpg was established under the fiscalis 2020 programme and its work was coordinated by the european commission directorategeneral for taxation and customs union dg taxud.
Revenue administration gap analysis program the value added tax gap, international monetary fund, fiscal affairs department, january 2015. Pregcrisis iffiscalconsolidationisinorder,it shouldalwaysbeintroduced immediately. Revenue administration gap analysis programthe general consumption tax gap international monetary fund 5 mr. Tax reform a key part of getting our financial house in order two key mechanisms through which imf will influence our tax policy and administration commitment of government to. The concept of tax gaps report on vat gap estimations. But the report stressed that cutting tax for the top 1% had. Tax revenue accounted for almost 90 percent of government revenue in recent years and has been declining in real terms.
Options for low income countries effective and efficient. Two key mechanisms through which imf will influence our tax. This report in whole or in part or summaries thereof may be disclosed by the imf to imf executive directors and. This publication updates the figures in cbos report. Imf suggests of 10% tax on savings on bottom of report. Fiscal policy for financing sustainable development in africa viii list of abbreviations.
The international monetary funds imf recent report on americas economy echoes many of our criticisms of decembers tax law. Revenue forecasting practices full report tax policy center. Fiscal policy for financing sustainable development in africa b ordering information to order copies of this report, please contact. Imf report describes flaws in 2017 tax law center on budget. Treasury inspector general for tax administration tigta analysis of collection activity report no5000242 for fys 2011 through 2015. Copies of this report are available to the public from international monetary fund publication services po box 92780 washington, d. National association of state budget officers, budget processes in the states washington, dc. A global perspective era dablanorris, kalpana kochhar, nujin suphaphiphat, frantisek ricka, evridiki tsounta i n t e r n a t i o n a l m o n e t a r y f u n d. Improving tax compliance international monetary fund. This report was prepared by the tax gap project group tgpg. The report prepared by imf staff and presented to the executive board in an informal session on february 6, 2015. This companion volume to the international monetary fund s.
Jun 29, 2018 the international monetary funds imf recent report on americas economy echoes many of our criticisms of decembers tax law. To address the imfs criticisms in particular, to better meet the pressing needs of the working poor without losing. Oct 11, 2019 the international monetary fund imf released a report that says action is needed urgently to tackle the climate crisis. Copies of this report are available to the public from.
We view fiscal policy as a crucial way of combating climate change, said paolo mauro, deputy director of fiscal affairs department at the imf. For optimum experience we recommend to update your browser to the latest version. Staff reports for japan 2014, the netherlands 2015, the united kingdom. The paper argues inequality is harmful to a countrys growth, and that redistributing wealth using taxes can reduce inequality and boost growth and the length of growth cycles. It describes the imfs support for its 188 member countries, with an emphasis on the core areas of imf responsibility. Tackling challenges together, imf 2015 annual report. The authors of this latest report can expect the same backlash, especially in the us where the tea party has defended tax cuts for wealthy individuals and. The most important tax is the payroll tax, followed by the import duty. It said that countries around the world need to drastically reduce their carbon emissions immediately and the most effective way is through a carbon tax and with global cooperation, as reuters reported. In eight states, the executive budget agency was solely responsible for preparing the revenue forecast for the governors budget. From 2015 to 2016, the share of corporate tax in total tax decreased by more than five percentage points in two jurisdictions, the democratic republic of congo from 20. Excessive leverage of financial institutions, including that of. Imf blog insights and analysis on economics and finance.
Ios prepared a report aiming to take a fresh look at tax incentive. International financial statistics yearbook, 2015 imf bookstore. Illicit financial flows to and from 148 developing. Imf report describes flaws in 2017 tax law center on. Which of the following organizations brings out the publication known as world economic outlook. This progress report on the base erosion and profit shifting beps project and measures to enhance tax transparency through exchange of information, provides a short summary of the key developments since the 1february 2015 report to g20 finance ministers on the oecdg20 work on. Increased trade integration helped to drive economic growth in advanced and developing economies in.
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