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Forestry Taxation in Africa: The Case of Liberia
Author:
Mr. Saji Thomas
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and
Mr. Arnim Schwidrowski
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Series:
IMF Working Papers
Volume/Issue:
Volume 2005: Issue 156
Language:
English
Publication Date:
01 Aug 2005
DOI:
https://doi.org/10.5089/9781451861754.001
ISBN:
9781451861754
ISSN:
1018-5941
Pages:
27
Keywords:
WP; revenue; firm; government; fee; sc; forestry; taxation; Africa; Liberia; government auctions concession; timber company; revenue collection; processing firm; area tax; forestry sector; forest contract; tax arrangement; timber sector; timber taxation; timber tax structure; timber activity; Agroindustries; Natural resources; Tariffs; Exports; Forestry tax; Global; West Africa
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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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Countries generally tax the forestry sector to achieve the twin objectives of revenue maximization and sustainability of logging levels. In an ideal world of perfect markets and information, auctions would be the best instrument to determine the price of extraction rights. However, a number of factors-including a lack of information on the forest resources under consideration, uncertainties as to the stability of property rights over time, and a lack of access to credit-have limited the use of auctions so far, particularly in low-income countries. To establish transparency of the forestry sector's financial flows, this paper discusses a radical simplification of Liberia's current timber tax structure, including a proposal to reduce the sector's current tax system to two instruments, an area tax and an export tax.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund