Browse

You are looking at 1 - 10 of 92 items for :

  • IMF How To Notes x
  • Notes and Manuals x
Clear All
Irina Bunda, Luc Eyraud, and Zhangrui Wang
Irina Bunda, Luc Eyraud, and Zhangrui Wang
Irina Bunda, Luc Eyraud, and Zhangrui Wang

The coronavirus (COVID-19) crisis, which has hit financial systems across Africa, is likely to deteriorate banks’ balance sheets. The largest threat to banks pertains to their loan portfolios, since many borrowers have faced a sharp collapse in their income, and therefore have difficulty repaying their obligations as they come due. This could lead to a sharp increase in nonperforming loans (NPLs) in the short to medium term.

Irina Bunda, Luc Eyraud, and Zhangrui Wang
The coronavirus (COVID-19) crisis, which has hit financial systems across Africa, is likely to deteriorate banks’ balance sheets. The largest threat to banks pertains to their loan portfolios, since many borrowers have faced a sharp collapse in their income, and therefore have difficulty repaying their obligations as they come due. This could lead to a sharp increase in nonperforming loans (NPLs) in the short to medium term.
Elizabeth Gavin
Mario Pessoa, Artur Swistak, Muyangwa Muyangwa, and Virginia Alonso-Albarran
Elizabeth Gavin
Mario Pessoa, Artur Swistak, Muyangwa Muyangwa, and Virginia Alonso-Albarran
Elizabeth Gavin

This note outlines the interest of Revenue Administrations (RAs) and National Statistical Offices (NSOs) in the quality of data at their disposal, and how collaboration between these organizations can contribute to improving data quality. The similarities between the data collection and processing steps in revenue administration and in the production of economic statistics underlie meaningful information and data sharing. Mutually beneficial collaboration between RAs and NSOs can be achieved, particularly in efforts to improve the coverage of registers and to update register information; classify economic activity; and analyze joint data to address data shortcomings. Since there are differences in concepts and definitions used in revenue administration and official statistics, dialogue is necessary to ensure the effective use of data from the partner organization. Collaboration can improve the quality of data available to both institutions: for RAs, this can assist in realizing improved taxpayer compliance and revenue mobilization, and for NSOs, tax-administrative data sources may enable expanded coverage of the economy in official statistics and reduce timeframes required for publishing economic time series and national accounts. Together, these outcomes can enhance the policy formulation, planning, and service delivery capability of governments. To that end, this note delineates concrete steps to engender sustainable and meaningful interchange of information and data between the RA and NSO.

Mario Pessoa, Artur Swistak, Muyangwa Muyangwa, and Virginia Alonso-Albarran

The value-added tax (VAT) has the potential to generate significant government revenue. Despite its intrinsic self-enforcement capacity, many tax administrations find it challenging to refund excess input credits, which is critical to a well-functioning VAT system. Improperly functioning VAT refund practices can have profound implications for fiscal policy and management, including inaccurate deficit measurement, spending overruns, poor budget credibility, impaired treasury operations, and arrears accumulation.This note addresses the following issues: (1) What are VAT refunds and why should they be managed properly? (2) What practices should be put in place (in tax policy, tax administration, budget and treasury management, debt, and fiscal statistics) to help manage key aspects of VAT refunds? For a refund mechanism to be credible, the tax administration must ensure that it is equipped with the strategies, processes, and abilities needed to identify VAT refund fraud. It must also be prepared to act quickly to combat such fraud/schemes.