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Western Hemisphere > Argentina

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Cover Technical Notes and Manuals
Understanding Artificial Intelligence in Tax and Customs Administration
Joshua Aslett
,
Stuart Hamilton
,
Ignacio Gonzalez
,
David Hadwick
, and
Michael A Hardy
This technical note provides an overview of current thinking on artificial intelligence (AI) in tax and customs administration. Written primarily for senior officials, the intent of the note is to provide an awareness of AI that can help inform decision making and planning. The note opens with an exploration of historic and ongoing AI developments. It then provides an overview of legal and ethical concerns, AI use cases, guidance on how to promote AI's responsible use, and logic for introducing AI use cases into an operational setting. The note closes by presenting a selection of questions being debated by experts. In its annexes, the note includes (1) an example of an AI policy; (2) references to help develop AI strategy; and (3) methodology to risk assess AI use cases.
Keywords:
tax administration; customs administration; artificial intelligence; generative artificial intelligence; AI regulation; strategy and planning; use case; AI strategy; understanding AI; AI Policy; risk assessment; Tax administration core functions; Customs administration core functions; Training and development in revenue administration; Europe; Global
Cover IMF Working Papers
Coming Clean on Your Taxes
Sebastian Beer
and
Ruud A. de Mooij
This paper develops a simple model to explore whether a higher detection probability for offshore tax evaders—e.g. because of improved exchange of information between countries and/or due to digitalization of tax administrations—renders it optimal for governments to introduce a voluntary disclosure program (VDP) and, if so, under what terms. We find that if the VDP is unanticipated, it is likely to be optimal for a revenue-maximizing government to introduce a VDP with relatively generous terms, i.e. a low or even negative penalty. When anticipated, however, the VDP is neither incentive compatible nor optimal, as it induces otherwise compliant taxpayers to evade tax. A VDP can then only be beneficial if tax evasion induces an external social cost beyond the direct revenue foregone, e.g., due to adverse effects on overall tax morale. In contrast to the common view that VDPs should come along with additional enforcement effort, we find that governments should relax enforcement if the VDP itself provides more powerful incentives to come clean.
Keywords:
Tax evasion; Voluntary disclosure program; Tax amnesty; appendix I. Optimal VDP penalty; VDP participation; VDP penalty; detection probability; A. tax evasion; Tax administration core functions; Tax return filing compliance; Global
Cover IMF Staff Country Reports
Paraguay: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Paraguay
International Monetary Fund. Western Hemisphere Dept.
In the past two decades, Paraguay has seen strong growth and a sharp reduction in poverty. Strong GDP growth was the result of sound macro policies (with low inflation and low fiscal deficits and debt) and an agricultural commodity price boom which spilled over to the non-tradable sector. Growth was not just high but also volatile, as bad weather shocks led to poor harvests, which spill over to the broader economy. In early 2020, Paraguay was rebounding strongly from another weather shock, and full-year growth was forecast at over 4 percent. In 2019, bad weather had reduced the harvest, and GDP growth had come to a near standstill. A recovery started in the second half of 2019 and gathered strength in early 2020—in February economic activity was 7 percent higher than a year earlier. The Covid-19 epidemic halted the recovery. An early lockdown—which kept the death toll among the lowest in the region—led to a sharp contraction in economic activity, with April activity levels at 20 percent below those in February. Women, informal sector workers, and workers in the service sector were particularly hard hit; while children were severely affected by the closing of the schools until the end of 2020.
Keywords:
ISCR; CR; investment spending; supply and demand demand shock; emergency spending; compilation method; liquidity provision
Cover IMF Staff Country Reports
Paraguay: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Paraguay
International Monetary Fund. Western Hemisphere Dept.
In the past two decades, Paraguay has seen strong growth and a sharp reduction in poverty. Strong GDP growth was the result of sound macro policies (with low inflation and low fiscal deficits and debt) and an agricultural commodity price boom which spilled over to the non-tradable sector. Growth was not just high but also volatile, as bad weather shocks led to poor harvests, which spill over to the broader economy. In early 2020, Paraguay was rebounding strongly from another weather shock, and full-year growth was forecast at over 4 percent. In 2019, bad weather had reduced the harvest, and GDP growth had come to a near standstill. A recovery started in the second half of 2019 and gathered strength in early 2020—in February economic activity was 7 percent higher than a year earlier. The Covid-19 epidemic halted the recovery. An early lockdown—which kept the death toll among the lowest in the region—led to a sharp contraction in economic activity, with April activity levels at 20 percent below those in February. Women, informal sector workers, and workers in the service sector were particularly hard hit; while children were severely affected by the closing of the schools until the end of 2020.
Keywords:
ISCR; CR; investment spending; supply and demand demand shock; emergency spending; compilation method; liquidity provision; financial system regulation; COVID-19; PFM legal and regulatory frameworks; Risk-based supervision; Global; Western Hemisphere
Cover IMF Staff Country Reports
Arab Republic of Egypt: Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for the Arab Republic of Egypt
International Monetary Fund. Middle East and Central Asia Dept.
The COVID-19 pandemic has drastically disrupted people’s lives, livelihoods, and economic conditions. Growth is expected to slow considerably in both 2019/20 and 2020/21 as tourism is at a standstill and domestic activity is expected to significantly slow. The external accounts are expected to deteriorate from portfolio outflows and the shock to tourism and remittances, resulting in an urgent balance of payments need.
Keywords:
ISCR; CR; Egypt; balance of payments gap; debt; debt sustainability assessment; support; investor confidence; fund GRA credit; hard-won macroeconomic stability; executive board discussion; Credit; Debt service; Global; COVID-19
Cover IMF Staff Country Reports
Arab Republic of Egypt: Request for a 12-Month Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for the Arab Republic of Egypt
International Monetary Fund. Middle East and Central Asia Dept.
Egypt’s hard-won macroeconomic stability achieved during the three-year arrangement under the Extended Fund Facility (EFF) now faces a significant disruption due to the COVID-19 pandemic. Growth is expected to slow in both FY2019/20 and FY2020/21 as tourism has been halted and domestic activity curtailed. The external accounts have come under pressure due to capital outflows and the shock to tourism and remittances. The authorities responded with a broad package to scale up the health system’s capacity and policies to support the people and the economy.
Keywords:
ISCR; CR; staff's appraisal; safeguards assessment of the Central Bank of Egypt; draft bill; update to the safeguards assessment; government priority; Debt service; Credit; Global; COVID-19
Cover IMF Staff Country Reports
Paraguay: Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Paraguay
International Monetary Fund. Western Hemisphere Dept.
This paper presents Paraguay’s Request for Purchase Under the Rapid Financing Instrument (RFI). In March 2020, Paraguay was hit by the Covid-19 epidemic, which has created fiscal and balance of payments needs. The authorities’ policy response to the epidemic has been timely, but limited access to financing and a weakened fiscal position constrain the ability to pursue a deeper emergency response. The Paraguayan authorities are requesting financial assistance under the IMF’s RFI to address the urgent balance of payments needs associated with the Covid-19 epidemic. Given the urgency of their request, there is no time to put in place a full-fledged upper credit tranche program, and the authorities are of the view that they can make suitable adjustments to manage their medium-term balance of payments challenges. In order to prevent the emergence of permanently high deficits after the crisis, Paraguay should return to the deficit ceiling under the Fiscal Responsibility Law. The exchange rate should continue to function as shock absorber, and monetary policy should focus on inflation targeting.
Keywords:
ISCR; CR; emergency package; monetary policy committee; support; balance of payments pressure; donor support; Executive Board discussion; Credit; Exchange rates; East Asia; Global; COVID-19
Cover IMF Staff Country Reports
Central African Republic: Request for a Three-Year Arrangement under the Extended Credit Facility-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for the Central African Republic
International Monetary Fund. African Dept.
This paper discusses Central African Republic’s (CAR) Request for a Three-Year Arrangement Under the Extended Credit Facility. Consistent with the IMF’s Country Engagement Strategy, the IMF-supported program is expected to support the implementation of the peace agreement and of CAR’s medium-term development strategy. Its main objectives are to maintain macroeconomic stability, strengthen administrative capacity, governance, and the business climate, and address CAR’s protracted balance of payments needs. Fiscal policy will focus on revenue mobilization, spending prioritization, and strengthening public financial management, with a view to allow, over the medium term, the durable financing of CAR’s considerable security, social, and infrastructure spending needs. Structural reforms will aim at improving the government’s capacity to design and implementing policies and reforms, at enhancing governance, including through strengthening anticorruption institutions, and at removing bottlenecks and regulatory impediments to private investment. The new arrangement will also help catalysing external concessional financing from other development partners, which is critical to support CAR’s path out of fragility. The IMF will also continue its extensive capacity development on priorities that are aligned with the program objectives.
Keywords:
ISCR; CR; CAR authorities; authority; fund financing to the C.A.R.; debt; financing
Cover IMF Staff Country Reports
Central African Republic: Request for a Three-Year Arrangement under the Extended Credit Facility-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for the Central African Republic
International Monetary Fund. African Dept.
This paper discusses Central African Republic’s (CAR) Request for a Three-Year Arrangement Under the Extended Credit Facility. Consistent with the IMF’s Country Engagement Strategy, the IMF-supported program is expected to support the implementation of the peace agreement and of CAR’s medium-term development strategy. Its main objectives are to maintain macroeconomic stability, strengthen administrative capacity, governance, and the business climate, and address CAR’s protracted balance of payments needs. Fiscal policy will focus on revenue mobilization, spending prioritization, and strengthening public financial management, with a view to allow, over the medium term, the durable financing of CAR’s considerable security, social, and infrastructure spending needs. Structural reforms will aim at improving the government’s capacity to design and implementing policies and reforms, at enhancing governance, including through strengthening anticorruption institutions, and at removing bottlenecks and regulatory impediments to private investment. The new arrangement will also help catalysing external concessional financing from other development partners, which is critical to support CAR’s path out of fragility. The IMF will also continue its extensive capacity development on priorities that are aligned with the program objectives.
Keywords:
ISCR; CR; CAR authorities; authority; fund financing to the C.A.R.; debt; financing; assessment of policy issue; ECF arrangement; C.A.R.'s request; staff's assessment; authorities of Central African Republic; Arrears; Global; Africa; C.A.R.'s program
Cover IMF Staff Country Reports
Central African Republic: Sixth Review Under the Extended Credit Facility Arrangement, Requests for Waivers of Nonobservance of Performance Criteria and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Central African Republic
International Monetary Fund. African Dept.
President Touadéra signed a new peace agreement on February 6, 2019 with 14 armed groups. This agreement calls for the establishment of an inclusive government, the deployment of joint brigades, an acceleration of decentralization efforts, and the co-management of natural resources. While its implementation has started, including with the appointment of more inclusive government, the security situation remains volatile. The World Bank (WB) and the European Union (EU) have substantially increased their budgetary support (grants) for 2019–20. The authorities have expressed a strong interest in a successor arrangement.
Keywords:
ISCR; CR; ECF arrangement; government; financing; assessment of the ability; debt; assessment of policy issue; IMF's Executive Board; peace agreement; Arrears; Budget planning and preparation; Global