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Asia and Pacific > Thailand

You are looking at 1 - 9 of 9 items for :

  • Type: Journal Issue x
  • Personal Income and Other Nonbusiness Taxes and Subsidies x
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Cover IMF Working Papers
Tax Incentives in Cambodia
Mr. Manuk Ghazanchyan
,
Mr. Alexander D Klemm
, and
Yong Sarah Zhou
Cambodia, like its regional peers, offers a number of tax incentives to investors. This paper reviews these incentives to assess their costs and benefits, including their likely effectiveness in attracting capital and in supporting the diversification strategy. It finds that an important incentive, the tax holiday, differs materially from practice elsewhere in offering a deferral rather than exempting from tax and may not be very effective. Moreover, other features of the tax system, such as the high withholding rate on dividends, imply relatively high effective tax rates for foreign investors. The paper discusses potential reforms that weigh revenue and other costs of tax incentives against the need for a competitive tax system, including a shift from tax holidays toward investment allowances.
Keywords:
WP; circumstances Cambodia; R&D tax incentive; retained earnings; depreciation rate; tax incentives in Cambodia; Tax incentives; Tax Competition; Tax holidays; effective tax rates; withholding tax tax rate; investment allowance; Effective tax rate; Withholding tax; Corporate income tax; Asia and Pacific; Africa; Central and Eastern Europe; East Asia; North Africa
Cover IMF Staff Country Reports
Philippines: Technical Assistance Report on Road Map for a Pro-Growth and Equitable Tax System
International Monetary Fund
The Technical Assistance Report on the Philippines’ road map for a pro-growth and equitable tax system is examined. Tax revenue has declined over the last decade in the Philippines owing to generous and expanding tax incentives, tariff rate reduction, deteriorating tax compliance caused by ineffective and inefficient revenue administration, and a gradual erosion of excise revenue owing to nonindexation. One of the key reasons for providing tax incentives in the Philippines is concern that the country needs to be competitive with other countries in the region to attract foreign direct investment.
Keywords:
ISCR; CR; excise tax; tax rate; tax burden; income tax; tax revenue; withholding tax; gross sales; flat rate; taxable income; tax system; excise rate; Excises; Tax incentives; Corporate income tax; Income and capital gains taxes; Global
Cover IMF Staff Country Reports
Pakistan: Selected Issues and Statistical Appendix
International Monetary Fund
This Selected Issues and Statistical Appendix paper presents cross-country regression results that identify investment in physical capital and improvements in institutional quality as having the largest pay-off in terms of increased growth. The paper employs three approaches to forecast inflation in Pakistan. A leading indicator model outperforms a univariate autoregressive moving average model as well as a vector autoregressive model in terms of forecast quality. The paper presents three case studies of Pakistani public sector enterprises that have recently witnessed strong improvements in their financial performance.
Keywords:
ISCR; CR; Pakistan; yield; leading indicator model; NSS certificate; production function; revenue take; management reform; Inflation; Income and capital gains taxes; Human capital; Value-added tax; South Asia; Baltics; Asia and Pacific; Middle East; Global
Cover IMF Staff Country Reports
Thailand: Statistical Appendix
International Monetary Fund
This paper provides the IMF's projections and estimates of Thailand on basic data; summary of the central and local government tax systems, May 2003; portfolio investment liabilities, debt securities; other liabilities, trade credits, and loans; external debt stocks and flows by creditor group and main debtor; summary of import tariff statistics; average wages, classified by manufacturing categories; population, labor force, and employment by major economic sectors during 1996–2002; construction and the property market; promotional activities of the board investment; selected energy prices during 1996–2003; stock market indicators; foreign investor participation in the securities exchange of Thailand during 1997–2003, and so on.
Keywords:
ISCR; CR; withholding tax; gross income; tax rate; private sector; balance of payments; excise duty; income tax; assessed value; debt service; Income; Personal income; Income and capital gains taxes; Public enterprises
Cover IMF Staff Papers
IMF Staff Papers, Volume 49, No. 1
Mr. Robert P Flood
This paper presents details of a symposium on forecasting performance I organized under the auspices of the IMF Staff Papers. The assumption that the forecaster's goal is to do as well as possible in predicting the actual outcome is sometimes questionable. ln the context of private sector forecasts, this is because the incentives for forecasters may induce them to herd rather than to reveal their true forecasts. Public sector forecasts may also be distorted, although for different reasons. Forecasts associated with IMF programs, for example, are often the result of negotiations between the IMF staff and the country authorities and are perhaps more accurately viewed as goals, or targets, rather than pure forecasts. The standard theory of time series forecasting involves a variety of components including the choice of an information set, the choice of a cost function, and the evaluation of forecasts in terms of the average costs of the forecast errors. It is generally acknowledged that by including more relevant information in the information set, one should be able to produce better forecasts.
Keywords:
SP; standard deviation; IMF projection; program projection; private sector forecast; consumption tax; group mean; panel money demand estimation; Real exchange rates; Purchasing power parity; Consumption taxes; Labor taxes; Exchange rates; East Asia; Eastern Europe; Europe; Global; Baltics
Cover IMF Working Papers
Tax Incentives in The Philippines: A Regional Perspective
Mr. Nigel A Chalk
The Philippines is faced with a policy dilemma in the area of corporate taxation. On the one hand, the country has, over the past few years, witnessed a decline in revenue as a share of output. On the other, it is operating in an increasingly competitive regional market for foreign direct investment. In order to remain competitive, the Philippines offers a broad array of fiscal incentives to entice inward investment and pursue the country's development goals. This paper looks at the fiscal incentives available in the Philippines, compares them with those available in the ASEAN region, and with the evidence on the efficacy of tax incentives in a global context. The paper provides some broad conclusions on the use of the various forms of tax incentives in the Philippines and on their administration.
Keywords:
WP; import duty; investment incentive; personal income; accelerated depreciation; double taxation; duty drawback; investment decision; corporate tax incentives. ASEAN.; location decision; SEZ enterprise; companies expense; economic zone; footloose company; Tax incentives; Tax holidays; Corporate income tax; Tax allowances; Investment incentives; Global
Cover IMF Working Papers
Income Distribution and Tax and Government Social Spending Policies in Developing Countries
Mr. Ke-young Chu
,
Mr. Hamid R Davoodi
, and
Mr. Sanjeev Gupta
This paper reviews income distribution in developing (and transition) countries in recent decades. On average, before-tax income distribution in developing countries is less unequal than in industrial countries. However, unlike industrial countries, developing countries in general have not been able to use tax and transfer policies effectively to reduce income inequality. During the 1980s and 1990s, many developing countries experienced an increase in income inequality. The government health care and primary and secondary education programs in developing countries are not well targeted, but their incidence tends to be progressive.
Keywords:
WP; income; Gini coefficient; country; Income distribution; tax incidence; government social spending; transition country; after-tax Gini; distributional implication; after-tax income; Gini equation; Personal income; Income inequality; Income and capital gains taxes; Sub-Saharan Africa
Cover IMF Policy Discussion Papers
Tax Policy and the Asian Crisis
Mr. David C Nellor
This paper focuses on tax policy and the crisis in Asia in the context of globalization and technological change. Two sets of conclusions, specific tax reform measures and general lessons from the crisis, form the tax policy agenda on these issues. The complexity and volume of financial transactions, associated with the opening of emerging markets, have made tax administration a more challenging task. Just as strengthening financial systems must be a precursor to capital account liberalization, tax administrations clearly also require strengthening in such an environment. In many emerging markets the capacity to tax capital returns is limited. Tax administrators need to understand and monitor complex financial transactions that grew rapidly due both to financial sector liberalization and technological innovation. Traditional difficulties for tax administrators, such as transfer pricing, that had often been limited to natural resource sectors in developing economies, took on wider importance as local companies gained sophistication and developed offshore operations.
Keywords:
PDP; asset; tax; value; proceeds; debt equity swap; exchange rate; income tax; tax firm; net capital; arbitrage possibility; taxable income; capital return; stamp tax; World tax organization; debt forgiveness; Tax incentives; Corporate income tax; Personal income; Income and capital gains taxes; Tax administration core functions; Global; Asian CrisisTax Policy; Asian crisis; tax policy; capital; Asia and Pacific
Cover IMF Staff Country Reports
Czech Republic: Selected Issues
International Monetary Fund
This Selected Issues paper examines recent developments in inflation and its key determinants in the Czech Republic, with particular focus on the role of wages. A simple analytical framework is presented that relates inflation to wages, import prices, and money, and the interaction of inflation with these variables is then examined empirically in the context of a vector autoregression model. The findings confirm the critical influence of wages, exchange rate changes, and money growth. The paper also analyzes developments in the public finance.
Keywords:
ISCR; CR; price; interest rate; economic activity; import price; koruna depreciation; debt service; percent of GDP; private sector; current account deficit; CNB bill; Inflation; Credit; Personal income tax; Southeast Asia; Central and Eastern Europe; Western Europe; Eastern Europe; Europe