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Business and Economics > Corporate Taxation

You are looking at 1 - 6 of 6 items for :

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Cover IMF Staff Country Reports
Haiti: First Review Under the Staff-Monitored Program-Press Release; and Staff Report
International Monetary Fund. Western Hemisphere Dept.
This paper highlights Haiti’s First Review under the Staff-Monitored Program (SMP). The SMP will help the government restore macroeconomic stability and lower inflation―a key goal given the burden of high inflation on the poor. The SMP seeks to advance decisive governance reforms to enhance accountability. In particular, it emphasizes greater accountability through stronger public finance management, revenue administration, transparency, and anti-corruption measures. Progress on governance is key to ensure inclusive growth. The authorities have taken steps to strengthen accountability in the collection and use of public resources and have boosted the transparency of public procurement for emergency resources. IMF staff will continue to work closely with the authorities to support implementation of their program and help them build public support. Indeed, most elements of the authorities’ program are underpinned by ongoing IMF technical assistance. The IMF Fund will also continue to coordinate closely with Haiti’s other development partners to leverage efforts in support of common objectives.
Keywords:
Haiti's Staff-Monitored Program; transparency policy; central bank financing; management of the International Monetary Fund; governance reform; Social assistance spending; Energy subsidies; Commercial banks; Global
Cover IMF Staff Country Reports
Qatar: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
This Selected Issues paper discusses measures required to enhance nonhydrocarbon revenue to support fiscal consolidation in Qatar. Qatar depends heavily on the hydrocarbon sector for exports and revenue receipts. The authorities have embarked on fiscal consolidation, underpinned by cuts to current expenditures and enhanced efforts to raise additional revenue. Safeguarding Qatar’s wealth to ensure intergenerational equity and ensure adequate resources for the implementation of the second National Development Strategy would entail increased mobilization of nonhydrocarbon revenue in the near to medium term. Exploring other sources of tax revenue to diversify the government revenue structure and build a stable tax revenue base is also critical.
Keywords:
ISCR; CR; price; tax rate; bank; liquidity pressure; hydrocarbon revenue; GCC country; coverage ratio; oil-price shock; banking liquidity implication; envisaged tax revenue measure; liquidity management; corporate tax tax revenue; revenue side; GCC tax paper; GCC company; T-bills auction; corporate tax revenue from company; three-six-nine-month T-bills; Oil prices; Liquidity; Corporate income tax; Liquidity management; Global
Cover IMF Staff Country Reports
South Africa: Technical Assistance Report-Petroleum Sector Fiscal Regime Reform-Additional Analysis for the Davis Tax Committee
International Monetary Fund. Fiscal Affairs Dept.
This Technical Assistance report lists key issues discussed between the IMF’s Fiscal Affairs Department (FAD) and the Davis Tax Committee regarding recommendations for tax reforms in the oil and gas sector in South Africa. It is suggested that the royalty should have a single flat rate, rather than the current variable rate formula. The 5 percent flat rate proposed in the FAD report is modest by international standards. For corporate tax purposes, the current immediate expensing of capital expenditure and the 100 percent and 50 percent uplifts for exploration and development expenditure are overly generous and will lead to both a revenue loss and a long delay before revenue is collected.
Keywords:
ISCR; CR; tax; cash flow; price; yield; cashflow surcharge; payback period; price projection; depreciation treatment; price assumption; Depreciation; Carbon tax; Oil; Corporate income tax; Oil prices; Africa; Global
Cover IMF Working Papers
Modeling the Impact of Taxes on Petroleum Exploration and Development
Mr. James L. Smith
We present a simple model of petroleum exploration and development that can be applied to study the performance of alternative tax systems and identify potential distortions. Although the model is a highly simplified, it incorporates many factors and some of the key tradeoffs that would influence an investor’s investment behavior. The model recognizes the role of enhanced oil recovery and treats the impact of taxation on exploration and development in an integrated manner consistent with an investor’s joint optimization of investments at both stages of the process. The model is simple and user-friendly, which facilitates application to a broad range of problems.
Keywords:
WP; net present value; cash flow; petroleum exploration; oil production; taxation; distortions; IOC place; IOC's profit; price movement; fiscal regime; IOC NPV; oil price; economic value; Oil; Oil prices; Corporate income tax; Marginal effective tax rate; Production sharing; Middle East
Cover IMF Staff Country Reports
Republic of Azerbaijan: Selected Issues
International Monetary Fund
This Selected Issues paper on Azerbaijan highlights that rapid non-oil growth since the onset of the oil boom has contributed to substantial reduction in poverty and inequality. To keep growth inclusive, there is a need to accelerate economic diversification and make the nonhydrocarbon private sector a self-sustaining engine of growth. Policy priorities include strengthening governance and the business environment and improving human capital and productive infrastructure to enhance the productivity of private investment. Expanding the relatively well-targeted social safety net will ensure coverage of the vulnerable groups.
Keywords:
ISCR; CR; government; Azerbaijan; exchange rate; Azerbaijani authorities; government spending; indirect tax; customs revenue collection process; CIT rate; GDP growth; money supply; personal income; central bank; CIT revenue; Exchange rate arrangements; Corporate income tax; Oil prices; Central Asia; Global; Central and Eastern Europe; Eastern Europe; Europe
Cover IMF Working Papers
Evaluation of the Oil Fiscal Regime in Russia and Proposals for Reform
Brenton Goldsworthy
and
Ms. Daria V Zakharova
Oil revenue plays a central role in Russia's economic development. Thus, the recent decline in oil production and investment, and the possible contribution of the current fiscal regime to these developments, have prompted a reassessment of the oil tax system in Russia. Some important changes have already been made, while others are underway. This paper uses a simulation model to evaluate Russia's current oil fiscal regime. Based on these simulations, the paper proposes ways to make the fiscal regime more supportive of investment, while ensuring an appropriate share of oil sector profits for the government.
Keywords:
WP; oil price; income tax; tax rate; cost project; payback period; project cost; oil revenue; oil and gas taxation; stochastic price model; transportation cost; Urals blend price; hurdle price; Oil; Oil prices; Oil production; Transfer pricing; Corporate income tax; Global