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Trends and Future Directions in Tax Policy Reform: A Latin American Perspective
Author:
Mr. Parthasarathi Shome
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Series:
IMF Working Papers
Volume/Issue:
Volume 1992: Issue 043
Language:
English
Publication Date:
01 Jun 1992
DOI:
https://doi.org/10.5089/9781451846263.001
ISBN:
9781451846263
ISSN:
1018-5941
Pages:
34
Keywords:
WP; property tax; personal income; tax rate; double taxation; import duty; progressive tax; cash flow; VAT revenue base; income tax tax revenue; revenue dependence; rates pari passu; uniform VAT rate; flat rate; personal income income tax; Corporate income tax; Income tax systems; Income and capital gains taxes; Personal income tax; Value-added tax; Global; North America
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Tax reform in Latin America during the 1980s emphasized broad-based, low-rate consumption taxes over steeply progressive income and property taxes, primarily to simplify the tax structure and facilitate tax administration. While tax reform need not necessarily raise tax-to-GDP ratios, countries that undertook tax reform experienced a higher revenue gain in terms of GDP relative to those that did not. Tax reform issues during the 1990s will include a minimum income tax, alternative corporate taxes (cash flow tax, assets tax), capturing difficult tax bases (financial intermediation, property), environment taxes, extending withholding as a taxing mechanism, and tax harmonization.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund