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Business and Economics > Public Finance

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Cover Technical Notes and Manuals
Methodology and Overview of the IMF’s World Revenue Longitudinal Database
Mario Mansour
,
Marijn Verhoeven
,
Fayçal Sawadogo
, and
Benedict Chu Sheen Tan
This note presents the methodology behind the IMF’s World Revenue Longitudinal Database, a comprehensive data set that tracks government revenue trends since the early 1990s. With data for 193 countries, including 190 IMF member countries, the World Revenue Longitudinal Database provides policymakers, researchers, and the public with invaluable insights into the evolution of the level and composition of revenues and tax revenues. It is a unique, consistent, and reliable source for comparing countries around the world, helping to shape policies that support the Sustainable Development Goals, climate action, and economic equity. Updated annually, the database and accompanying technical note provide a concise overview of recent revenue developments, data revisions, and methodological improvements, making it an essential resource for understanding revenue mobilization developments at the global level.
Keywords:
World Revenue Longitudinal Database; tax revenues; nontax revenues; tax potential; IMF's World Revenue Longitudinal Database; data IMF Library; IMF region; IMF's World revenue; revenue development; Income tax systems; Income and capital gains taxes; Government finance statistics; Natural resources; Global; Western Hemisphere; Asia and Pacific; Middle East and Central Asia; Caribbean
Cover Technical Assistance Reports
Republic of the Marshall Islands: Technical Assistance Report-Consumption and Income Tax Reform
International Monetary Fund. Fiscal Affairs Dept.
This report provides analysis and advice on tax policy and administration reforms to modernize and improve the income and consumption tax system. On consumption taxes, the key recommendation is to replace the current system that is based on import tariffs, a business turnover tax, and local sales taxes, by a more efficient and equitable system with a broad-based value-added tax, selected excises to address externalities, and a profit tax. On income taxes, the report recommends base broadening and simplifying the rate structure.
Keywords:
Personal income tax; Corporate income tax; Value-added tax; Turnover tax; Republic of the Marshall Islands.; schedule reform option; Marshalls energy company; gross revenue; profit tax; capacity development mission; reform management governance; tax administration issue; income tax reform; administration system; Marshall Islands consumption tax; Tax administration core functions; Consumption taxes; Income and capital gains taxes; Global; Asia and Pacific; Pacific Islands
Cover Technical Assistance Reports
Republic of Armenia: Technical Assistance Report-Personal Income Tax and Social Security Contribution Gaps
International Monetary Fund. Fiscal Affairs Dept.
This report presents results on a review of data available to the State Revenue Committee for estimating the Personal Income Tax and Social Security Contribution gaps. It is concluded that SRC has sufficient quality data available from operational audits to assess the gaps.
Keywords:
Personal Income Tax Gap; Social Security Contributions Gap; Bottom-up approach; Operational audits; Heckman Sample Selection model; Republic of Armenia.; SSC gap; PIT gap measurement methodology; social security contribution gap; PIT gap; SRC data; assessed PIT; Personal income tax; Auditing; Tax audits; Corporate income tax; Tax gap; Global
Cover Technical Notes and Manuals
Using Top-Down Compliance Gap Techniques to Supplement the Compliance Risk Management Framework
Elena D'Agosto
,
Michael A Hardy
,
Stefano Pisani
, and
Anthony Siouclis
Traditional top-down tax gap assessments identify the size of a tax gap, but not its origins. By extracting more granular information from top-down tax gap assessments, and combining this information with compliance risk management (CRM) techniques, it is possible to: improve the accuracy of CRM techniques; improve the consistency of the likelihood and consequence dimensions of compliance risk assessments; identify emerging areas of tax compliance risk and; better disaggregate the direct and indirect revenue effects of compliance interventions, including the “behavioral component” within the indirect effects. Finally, it is also possible to determine the optimal revenue recovery from each segment of the taxpayer population.
Keywords:
tax administration; tax compliance; tax gap; compliance gap; Compliance Risk Management; CRM; direct revenue effect; indirect revenue effect; taxpayer behavioral component; compliance risk-management framework; compliance gap technique; IMF Library; taxpayer compliance; compliance index; Auditing; Tax return filing compliance; Value-added tax
Cover Technical Notes and Manuals
Developing a Risk-Based Compliance Improvement Plan for Customs Administrations
Augusto Azael Pérez Azcárraga
,
José M García-Sanjinés
,
Rossana A San Juan
,
Selvin A Lemus
,
Philip R Wood
, and
Robert Kokoli
This technical note offers practical guidance to senior managers and technical staff in Customs administrations for developing a Compliance Improvement Plan (CIP) using an Integrated Risk Management (IRM) approach. It clearly outlines the components of a CIP based on IRM, explains what it entails for a Customs administration, and how to develop it step-by-step. Additionally, it underscores the importance of identifying and implementing tailored treatment measures for various trader segments, which is crucial for enhancing compliance levels. Furthermore, it emphasizes the need to identify key vulnerabilities within processes that may lead to the realization of risks, proposing appropriate strategies to address them. The note also highlights other critical factors that must be considered to ensure the effective implementation of a CIP.
Keywords:
Customs Administrations; risk management; integrated risk management; transactional risk management; customs compliance; compliance improvement plan; trade facilitation; segmentation; treatment measures; compliance indicators; compliance risks; institutional risk; governance; core customs processes; global risk index; core Customs process; IRM approach mean; risk management committee; compliance risk; views ofthe IMF; Customs administration core functions; Interest rate parity; Compliance improvement plans; Value-added tax; Global
Cover Technical Assistance Reports
Malawi: Technical Assistance Report-Report on the Improving Estimates of Gross Domestic Product Mission (June 24–July 5, 2024)
International Monetary Fund. Statistics Dept.
The mission assisted the National Statistical Office of Malawi improve the quality of the published annual estimates of Gross Domestic Product (GDP), progressed the use of Value Added Tax (VAT) data as a basis for developing quarterly series and supported development of current price estimates of GDP based on the expenditure approach (GDP-E). Specially, the mission reviewed the quality of the published GDP series and finalized Supply and Use Tables for 2017. This allowed the development of annual current price estimates of GDP-E. In addition, the mission initiated estimation of quarterly current price estimates of GDP for some activities based on data for company sales from Malawi’s VAT system.
Keywords:
GDP; Supply and Use Tables; expenditure GDP; quarterly GDP; administrative data; value added tax; Malawi.; business processing documentation; STA Department; estimates of GDP-E; consumption expenditure; VAT data; Value-added tax; Consumer price indexes; Gross fixed investment
Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
The paper examines domestic revenue mobilization in Mauritania and proposes strategies to enhance tax revenue collection to address fiscal sustainability challenges and finance critical investment projects. Despite recent progress, Mauritania’s tax-to-GDP ratio remains below that of its peers, constrained by a complex legal framework, numerous derogatory tax regimes, and inefficiencies in revenue administration. The analysis indicates that Mauritania could increase tax revenues by up to 3.4% of GDP in the medium term, thus reducing its tax gap by one-third. Key policy recommendations include reducing VAT exemptions, replacing corporate tax exemptions with cost-based incentives, reforming the personal income tax system, broadening the consumption tax base, simplifying tax procedures, managing tax arrears more effectively, and strengthening tax compliance.
Keywords:
tax Potential; tax Effort in Mauritania; VAT revenue; revenue component; rates in Mauritania; Value-added tax; Corporate income tax; Tax administration core functions; Consumption taxes; Global
Cover IMF Staff Country Reports
Chad: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper reviews the impact of Chad’s procyclical fiscal policies on fiscal sustainability and macroeconomic outcomes and proposes a fiscal framework to anchor fiscal policy over the medium term. This framework combines a debt target aimed at ensuring that Chad’s risk of debt distress remains moderate and a financial asset floor to maximize its economic stabilization and shock insurance properties, while maintaining feasibility and flexibility to mobilize critical development spending. The proposed anchor could be monitored through a net debt target set at 28 percent of gross domestic product (GDP), to ensure that debt does not exceed a maximum threshold set at 42 percent of GDP even in the face of significant shocks, while the floor on liquid financial assets could be set at 5 percent of GDP. IMF propose a gradual convergence path—which balances prudence and mobilizing critical development spending—aimed at ensuring net debt remains at the target by 2029. The successful implementation of this framework will require accelerated progress on structural reforms and commitment from the Chadian authorities at the highest level.
Keywords:
debt target; Chadian authorities; Policy recommendation; C. climate change policy; D. policy recommendation; Gender inequality; Oil prices; Climate change; Oil, gas and mining taxes; Climate finance; Global; Central Africa; Sub-Saharan Africa; East Asia
Cover IMF Staff Country Reports
Republic of South Sudan: Third Review Under the Staff-Monitored Program with Board Involvement-Press Release; Staff Report; and Statement by the Executive Director for the Republic of South Sudan
International Monetary Fund. African Dept.
This paper focuses on South Sudan’s Third Review under the Staff-Monitored Program with Board Involvement. Severe spillovers from the conflict in Sudan, including refugee inflows and damages to an oil pipeline, have exacerbated South Sudan’s difficult humanitarian and macroeconomic situation, resulting in an economic slowdown, sharp exchange rate depreciation, high inflation, and higher spending needs against the backdrop of large fiscal revenue losses. Discussions with the South Sudanese authorities during the Third Review of the Staff-Monitored Program with Board Involvement (PMB) focused on re-calibrating macroeconomic policy to address the impact of the external shocks. The authorities remain committed to implementing strong policies and reform measures to restore macroeconomic stability. IMF Management completed the Third review of the PMB with South Sudan. The implementation of commitments taken by the authorities under the Letter of Intent will continue to support macroeconomic stability and debt sustainability. The authorities remain committed to fiscal and monetary prudence and to implementing their medium-term reform agenda.
Keywords:
authorities' priority; government operation; VAT regime; authorities view; reform agenda; Oil production; Quasi-fiscal operations; Oil, gas and mining taxes; Global
Cover Technical Notes and Manuals
Managing Tax Incentives in Developing Countries
Miguel Pecho
,
Stoyan E Markov
,
Philip R Wood
,
Rachel Auclair
, and
Fernando Velayos
This technical note sets out the essential elements to effectively manage tax incentives in developing countries, emphasizing the important role that revenue authorities must play in preventing abuses and revenue leakages. The note presents considerations for a risk-based compliance program on tax incentives that combines various supportive, preventative, and corrective practices and approaches. It also delineates key enablers, such as a whole-of-government approach, robust transparency and accountability practices, and a modern compliance risk management framework.
Keywords:
Tax incentive risks; revenue authorities; whole-of-government approach; governance; transparency and accountability; policy design and legislation; compliance risk management; risk differentiation framework; managing tax incentives; due diligence; Policy design; views ofthe IMF; reporting obligation; Customs authorities; Tax incentives; Semi-autonomous revenue bodies; Special economic zones; Global