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  • Renewable Resources and Conservation: Forestry x
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Cover IMF Working Papers
Forestry Taxation in Africa: The Case of Liberia
Mr. Saji Thomas and Mr. Arnim Schwidrowski
Countries generally tax the forestry sector to achieve the twin objectives of revenue maximization and sustainability of logging levels. In an ideal world of perfect markets and information, auctions would be the best instrument to determine the price of extraction rights. However, a number of factors-including a lack of information on the forest resources under consideration, uncertainties as to the stability of property rights over time, and a lack of access to credit-have limited the use of auctions so far, particularly in low-income countries. To establish transparency of the forestry sector's financial flows, this paper discusses a radical simplification of Liberia's current timber tax structure, including a proposal to reduce the sector's current tax system to two instruments, an area tax and an export tax.
Keywords:
WP; revenue; firm; government; fee; sc; forestry; taxation; Africa; Liberia; government auctions concession; timber company; revenue collection; processing firm; area tax; forestry sector; forest contract; tax arrangement; timber sector; timber taxation; timber tax structure; timber activity; Agroindustries; Natural resources; Tariffs; Exports; Forestry tax; Global; West Africa
Cover IMF Staff Papers
The Complier Pays Principle: The Limits of Fiscal Approaches Toward Sustainable Forest Management
Mr. Luc E. Leruth, R. Paris, and Mr. I. Ruzicka

This paper examines the role and impact of taxation on sustainable forest management. It is shown that fiscal instruments neither reinforce nor substitute for traditional regulatory approaches and can actually undermine sustainability. The paper uses the reasoning at the root of the Faustmann solution to draw conclusions on the incentives for sustainable tropical forest exploitation. It proposes a bond mechanism as an alternative market-based instrument to encourage sustainable forest logging while reducing monitoring costs.

Keywords:
SP; price; market value; environmental damage; security of tenure; opportunity cost; timber taxation; Stocks; Bonds; Forestry tax; Central Africa; West Africa; Global; logging regime; transfer value
Cover IMF Working Papers
Economic and Environmental Benefits of Eliminating Log Export Bans—The Case of Costa Rica
Mr. Nalin M. Kishor, Mr. Muthukumara Mani, and Mr. Luis F. Constantino
An increasing number of tropical timber producing nations have enacted bans on export of logs. Proponents argue that a log export ban is a second-best policy tool for addressing environmental externalities; it also creates more jobs and improves scale efficiencies domestically. Theoretical arguments suggest that log export bans are largely incapable of achieving their objectives. However, little quantitative evidence exists. The authors maintain that eliminating log export bans in Costa Rica could generate economic gains as high as $14 million annually in addition to the environmental benefits.
Keywords:
WP; cost; export; LEB; processing industry; result; trade and environment; forestry; log export ban (LEB); sustainable management; Latin America; Costa Rica; export ban; timber export tax; efficiency gains; price rise; log price; Agroindustries; Trade barriers; Exports; Tariffs; Global
Cover IMF Working Papers
The Complier Pays Principle: The Limits of Fiscal Approaches toward Sustainable Forest Management
Mr. Luc E. Leruth, R. Paris, and Mr. I. Ruzicka
This paper examines the role and impact of taxation on sustainable forest management. It is shown that fiscal instruments neither reinforce nor substitute for traditional regulatory approaches. Far from encouraging more sustainable forest management, fiscal instruments such as an inappropriate tax policy can actually undermine it. The paper uses the arguments at the root of the Faustmann solution to draw conclusions on the incentives for sustainable tropical forest exploitation. The paper also proposes a bond mechanism as an alternative market-based instrument to encourage sustainable forest logging while reducing monitoring costs.
Keywords:
WP; forest management; environmental damage; pollution tax