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Business and Economics > Corporate Taxation

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Cover IMF Staff Country Reports
Lebanon: Technical Assistance Report on Putting Tax Policy Back on Track
International Monetary Fund. Fiscal Affairs Dept.
This Technical Assistance report identifies tax policy reform options to stop the drain on Lebanon’s tax revenue in the immediate and near terms and to move toward a more efficient, effective, and inclusive tax system in the medium term. Lebanon entered the economic crisis already with one of the world’s most skewed income and wealth distributions toward the affluent. Reversing the downward trend in tax revenue and improving the entire tax policy design are thus critical elements of the overall needed reforms for Lebanon to steer its way out of the crisis and modernize its economy. The analysis emphasizes the need for a holistic view of the tax system to guide reforms and balance the trade-offs, rather than a piecemeal approach with ad hoc uncoordinated measures—and for a strategic, sequenced approach to developing a rapid and powerful emergence from current difficulties. Excises are an efficient way to reduce pollution, generating marked environmental benefits and significant revenue, with a modest impact on prices. In line with international best practices, professionals should be taxed in the real profits’ regime and with the use of withholding taxes on payments to professionals for services.
Keywords:
Tax Reform Crisis and Taxation VAT Efficiency Inequality; VAT revenue; VAT threshold; market rate; authorities of Lebanon; climate commitment; excise revenue; Value-added tax; Income tax systems; Income and capital gains taxes; Excises; Corporate income tax; Global
Cover IMF Working Papers
Tax Policy in MENA Countries: Looking Back and Forward
Mario Mansour
This paper reviews trends in taxation and revenue in MENA countries over 1990-2012, with a focus on non-resource taxes. On average, non-resource revenues declined slightly, while resource revenues soared. Country experiences vary: rates of main taxes and their revenues tend to be higher in the Magreb than in the Mashreq, except for the value-added tax, where lower rates are associated with equal or higher revenue; most oil producers raise little tax revenues—generally less than 5 percent of GDP—and most have reduced them since the late 1990s. But there are similarities: unlike common experience around the world, income taxes (not indirect taxes) have partially compensated for lost revenue from trade liberalization; revenues from indirect taxes have remained stable; personal income taxes have played an unimportant role as a revenue tool; and fees and stamp duties are significant revenue sources. Looking forward, tax reform challenges will also vary across countries: the Maghreb needs to focus on efficiency-enhancing reforms, especially in capital income and consumption taxes; the Mashreq have some room to increase revenue; and, there are ample opportunities to improve equity and reduce complexity of tax systems in all countries. Finally, the recent decline in oil prices and revenues is a reminder that even resource-rich GCC countries need to lay the basis of a tax system for the future.
Keywords:
WP; excise tax; tax system; resource country; income tax; tax administration; tax revenues; resource revenues; tax reform; MENA; personal income; trade tax; building tax institution; tax competition; tax law; Corporate income tax; Tax incentives; Value-added tax; Taxes on trade; Maghreb