Tax policy in MENA countries : looking back and forward /
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Author / Creator: | Mansour, Mario, author. |
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Imprint: | [Washington, D.C.] : International Monetary Fund, ©2015. |
Description: | 1 online resource (51 pages) : illustrations. |
Language: | English |
Series: | IMF working paper ; WP/15/98 IMF working paper ; WP/15/98. |
Subject: | |
Format: | E-Resource Book |
URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12504449 |
Summary: | This paper reviews trends in taxation and revenue in MENA countries over 1990-2012, with a focus on non-resource taxes. On average, non-resource revenues declined slightly, while resource revenues soared. Country experiences vary: rates of main taxes and their revenues tend to be higher in the Magreb than in the Mashreq, except for the value-added tax, where lower rates are associated with equal or higher revenue; most oil producers raise little tax revenues--generally less than 5 percent of GDP--and most have reduced them since the late 1990s. But there are similarities: unlike common experience around the world, income taxes (not indirect taxes) have partially compensated for lost revenue from trade liberalization; revenues from indirect taxes have remained stable; personal income taxes have played an unimportant role as a revenue tool; and fees and stamp duties are significant revenue sources. Looking forward, tax reform challenges will also vary across countries: the Maghreb needs to focus on efficiency-enhancing reforms, especially in capital income and consumption taxes; the Mashreq have some room to increase revenue; and, there are ample opportunities to improve equity and reduce complexity of tax systems in all countries. Finally, the recent decline in oil prices and revenues is a reminder that even resource-rich GCC countries need to lay the basis of a tax system for the future. |
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Item Description: | "May 2015." "Fiscal Affairs." |
Physical Description: | 1 online resource (51 pages) : illustrations. |
Bibliography: | Includes bibliographical references (pages 43-45). |
ISBN: | 1484364783 9781484364789 9781484365052 1484365054 |
ISSN: | 1018-5941 |