Comprehensive Tax Reform Program

Comprehensive Tax Reform Program

Implementing rules and regulations. Questions and answers regarding a package of tax reforms with respect to income tax, withholding tax, capital gains tax, corporate income tax, VAT, offshore banking, and non- residents.

Author:

Publisher:

ISBN: OCLC:950079412

Category:

Page: 60

View: 269

Implementing rules and regulations. Questions and answers regarding a package of tax reforms with respect to income tax, withholding tax, capital gains tax, corporate income tax, VAT, offshore banking, and non- residents.
Categories:

The Guatemalan Tax Reform

The Guatemalan Tax Reform

In this concise volume, Roy Bahl, Jorge Martinez-Vazquez, and Sally Wallace review the data that supported the creation of the reform program and evaluate the first round of revenues and tax-burden effects.Focusing their theoretical and ...

Author: Roy Bahl

Publisher: Westview Press

ISBN: UCSD:31822021244439

Category: Business & Economics

Page: 160

View: 271

In each case, they describe the existing tax system and evaluate it against the traditional norms; in addition, they analyze alternative structural reforms within the Guatemalan context.
Categories: Business & Economics

Reforming the Philippine Tax System

Reforming the Philippine Tax System

The most important role that fiscal policy can play with regard to growth is to ensure macroeconomic stability.

Author: Benjamin E. Diokno

Publisher:

ISBN: OCLC:835562455

Category:

Page:

View: 244

The most important role that fiscal policy can play with regard to growth is to ensure macroeconomic stability. But despite two highly visible tax reform programs in less than two decades, the Philippines is now in the midst of a fiscal crisis. This has been brought about by pressures on the spending side of the equation. But the biggest contributor to the present fiscal crisis is the deterioration of the tax system - its declining tax effort and growing unresponsiveness to changes in economic activity. The paper aims to describe analytically the similarities and differences of the 1986 Tax Reform Program and the 1997 Comprehensive Tax Reform Program (CTRP). In assessing the effect of the reform programs, the following questions were raised: Has the revenue mobilization capability of the tax system improved? Has the tax system become responsive to changes in economic activity? Has the share of corrective taxes to total taxes increased? There are lessons learned in managing the reform: tax reforms should be done at the start of an administration; they should be presented as a critical component of a comprehensive public sector reform program; in an environment where timely, upward, adjustment in existing tax rates are difficult to legislate, ad valorem taxation should be preferred to specific taxation; successful reforms require broad political support; and most importantly, the President must have the political will to do what is best for his country. Given the seriousness of the country's fiscal problem, the low-yielding, complicated and inflexible tax system needs a major overhaul, not minor tinkering. The next round of tax reforms should focus on broadening the tax base, increasing the tax yield, improving the system's responsiveness to changes in economic activity, and simplifying tax administration. The focus of the reform program should be: (a) heavier reliance on corrective or Piguovian taxes; (b) higher rate and broader VAT base, (c) rationalization of fiscal incentives, and (d) flat and lower income taxes.
Categories:

The Guatemalan Tax Reform

The Guatemalan Tax Reform

In this concise volume, Roy Bahl, Jorge Martinez-Vazquez, and Sally Wallace review the data that supported the creation of the reform program and evaluate the first round of revenues and tax-burden effects.Focusing their theoretical and ...

Author: Roy Bahl

Publisher: Westview Press

ISBN: 0813336546

Category: Business & Economics

Page: 176

View: 179

Responding to a deepening economic crisis, serious structural problems with the tax system, a long and deep-seated opposition to even modest tax increases, and a weak tax administration, the Guatemalan government introduced a comprehensive tax reform program in 1992. In this concise volume, Roy Bahl, Jorge Martinez-Vazquez, and Sally Wallace review the data that supported the creation of the reform program and evaluate the first round of revenues and tax-burden effects.Focusing their theoretical and empirical analysis on revenue yield impacts, on effects of relative prices and relative tax treatment of different types of companies, and on the distribution of tax burdens by income class, the authors factor in individual and company income taxes, value-added tax, taxes on international trade, and property tax. In each case, they describe the existing tax system and evaluate it against the traditional norms; in addition, they analyze alternative structural reforms within the Guatemalan context.Comprehensive tax reforms in less developed countries are infrequent, and the Guatemalan experience provides a fascinating case study of how modern analytic techniques can be used by policymakers to formulate tax structure changes. The authors also draw contrasts with experiences in other countries and revisit many of the principles that have been laid down for guiding tax reforms in developing nations.
Categories: Business & Economics

Tax Reform Options to Generate Revenues While Reducing Inequality

Tax Reform Options to Generate Revenues While Reducing Inequality

The Philippine government's Comprehensive Tax Reform Program Package 1 (CTRP-1) has sparked considerable discussion on its effects on households at different income levels.

Author: Ronald U. Mendoza

Publisher:

ISBN: OCLC:1305062015

Category:

Page: 38

View: 417

The Philippine government's Comprehensive Tax Reform Program Package 1 (CTRP-1) has sparked considerable discussion on its effects on households at different income levels. This paper focuses on the impact on income inequality of the CTRP-1, discerning gaps that continue to exist in the formulation of the tax reform package. Not only do we find that the overall gains of poorer deciles are less certain, once leakage issues in the delivery of targeted transfers are considered; due to higher increases in disposable income from the reform package that accrue to higher deciles, post-tax income inequality increases significantly. Following from the analysis, we present options for policymakers on how to enhance the reform package's response to inequality while preserving as much of its efficiency objectives. Lowering the PIT exemption threshold from PHP250,000 to PHP150,000 (as proposed by Senate Bill 1592) appears to regain some of the erosion of the Gini index that occurs with the House version of the bill; we determine, moreover, that effectively transferring PHP7,800 per household per annum, whether through cash transfers or earmarked programs, will serve to lower the Gini index by one full point from pre-tax levels. This outcome can be better guaranteed by increasing the earmarked share of petroleum excise taxes for social spending from 40% to 65%. Should the mobilization of additional resources prove necessary, three revenue-raising option are proposed: bank transactions taxes on demand deposits, a national land windfall tax or betterment levy, and increased sin taxes on tobacco products.
Categories:

Comprehensive Tax Reform

Comprehensive Tax Reform

Yet the Administration does not propose an alternative source of financing for the program in its tax reform plan , and a White House spokesman has indicated that the President would probably oppose any congressional appropriation for ...

Author: United States. Congress. House. Committee on Ways and Means

Publisher:

ISBN: PURD:32754078736240

Category: Income tax

Page:

View: 613

Categories: Income tax

Comprehensive Tax Reform Proposal of the President

Comprehensive Tax Reform Proposal of the President

Summary of Testimony Presented to the Committee on Ways and Means on the President's Tax Proposals United States. ... States that the proposed tax package is a valuable first step in formulating a comprehensive tax reform program .

Author: United States. Congress. House. Committee on Ways and Means

Publisher:

ISBN: UCR:31210024924704

Category: Taxation

Page: 158

View: 569

Categories: Taxation

Tax Reform in Developing Countries

Tax Reform in Developing Countries

Fourth , the administrative system must be able to absorb the change , hi the case of the income tax reform , the new ... Vertical equity cannot be the driving force behind a comprehensive tax reform program in a developing country .

Author: Malcolm Gillis

Publisher: Duke University Press

ISBN: 0822308983

Category: Business & Economics

Page: 545

View: 987

This volume presents the work of experts on the tax reform in several developing countries, from the restructuring of the economy of post-war Japan to the 1986 reforms in Jamaica. This study is based on the conference convened by the Center for International Development Research of the Institute of Policy Sciences at Duke University in April 1988.
Categories: Business & Economics

The Challenges of Tax Reform in a Global Economy

The Challenges of Tax Reform in a Global Economy

Comprehensive tax reform often requires new thinking about tax structures , Governments , and the population at large are not ... a completed study , then recommendations , then implementation of the reform program shortly thereafter .

Author: James Alm

Publisher: Springer Science & Business Media

ISBN: 0387299122

Category: Business & Economics

Page: 474

View: 437

This book presents 15 original papers and commentaries by a distinguished group of tax policy and tax administration experts. Using international examples, they highlight the state of knowledge of tax reform, present new thinking about the issue, and analyze useful policy options. The book’s general goal is to examine the current and emerging challenges facing tax reformers and to assess possible directions future reforms are likely to take. More specific themes include distributional issues, how to tax capital income, how to design specific taxes (e.g., the income tax, the value-added tax, the property tax), how to consider the politics and administrative aspects of tax reform, and how to combine the separate insights into comprehensive tax reform.
Categories: Business & Economics