Options for Low Income Countries Effective and Efficient Use of Tax Incentives for Investment : A Report to the G-20 Development Working Group by the IMF, OECD, UN and World Bank

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作者：

International Monetary Fund

来源地址：

http://hdl.handle.net/10986/22923

关键词：

TAX INCENTIVES;  TARIFFS;  LIABILITY;  FOREIGN CAPITAL;  EQUIPMENT;  INTANGIBLE ASSETS;  TAX EXEMPTION;  STOCK;  FOREIGN INVESTORS;  CORPORATE TAX RATE;  INTEREST;  OFFSHORE”  FINANCIAL CENTERS;  PUBLIC INVESTMENTS;  GUARANTEES;  EMERGING ECONOMIES;  PROPERTY RIGHTS;  EXCHANGE;  LONG-TERM CAPITAL;  ECONOMIC DEVELOPMENTS;  SETTLEMENT PROCEDURE;  DEVELOPING COUNTRIES;  DOMESTIC MARKET;  POLITICAL ECONOMY;  EXPORTERS;  REVENUES;  FISCAL POLICY;  TAX BENEFITS;  LOAN;  TAX PROVISIONS;  TAX SYSTEMS;  TAX RULES;  CAPITAL STOCK;  LEGAL PROTECTIONS;  TAX;  TAX DEFERRAL;  CASH TRANSFER;  INCOME TAX;  TREATIES;  BUDGETING;  LONG-TERM INVESTMENT;  LEVEL PLAYING FIELD;  BENEFICIARIES;  INVESTMENT PROCESS;  CREDITORS;  ENFORCEMENT MECHANISM;  DOUBLE TAX;  FOREIGN INVESTMENTS;  DEVELOPING COUNTRY;  INSTRUMENTS;  ENABLING ENVIRONMENT;  EMERGING MARKET ECONOMIES;  CREDIBILITY;  BUDGET;  EXTERNAL FINANCE;  SMALL BUSINESS;  MACROECONOMIC STABILITY;  ARBITRATION;  TRANSPARENCY CODE;  INVESTMENT BEHAVIOR;  GLOBAL ECONOMY;  ALLOCATION OF CAPITAL;  CURRENCY;  LEGISLATIVE FRAMEWORK;  PUBLIC FUNDS;  DOMESTIC CAPITAL;  CONTRACTS;  PERSONAL INCOME;  PERC;  FINANCES;  TAX REGIME;  TRADING;  TAX EXEMPTIONS;  OPTIONS;  MONETARY FUND;  GLOBALIZATION;  EMERGING MARKET;  MARKETS;  RETURN;  INTERNATIONAL DEVELOPMENT;  SETTLEMENT;  PUBLIC FINANCE;  INCOME LEVELS;  INTERNATIONAL ECONOMICS;  ECONOMIC POLICIES;  DIRECT INVESTMENT;  RULE OF LAW;  WEALTH CREATION;  LEGAL FRAMEWORK;  FINANCE;  BANK POLICY;  TAX POLICIES;  MARKET ECONOMIES;  TAXES;  EXPENDITURE;  EMERGING MARKETS;  EQUITY;  INCOME TAXES;  INVESTORS;  MACROECONOMIC INSTABILITY;  TAX CREDIT;  OPPORTUNITY COST;  VALUE OF ASSETS;  GOOD;  TAX INCENTIVE;  TAX RATE;  DOMESTIC MARKETS;  INTERNATIONAL TRADE;  TRANSPARENCY;  MARKET FAILURES;  COMPLIANCE COSTS;  FUTURE;  FOREIGN DIRECT INVESTMENT;  RETURNS;  LOCAL MARKET;  FOREIGN INVESTMENT;  STRATEGIC INVESTOR;  INVESTMENT PROJECTS;  LOAN GUARANTEES;  GOVERNMENT REVENUE;  EXPENDITURES;  PROPERTY;  TAX RATES;  LOCAL MARKETS;  MARKET;  STAMP DUTIES;  INVESTMENT POLICY;  TREASURY;  ECONOMIC DEVELOPMENT;  INTERESTS;  LEGAL DRAFTING;  TAX CODE;  TAX CREDITS;  GOODS;  INVESTOR;  INTANGIBLE;  LEGAL SYSTEM;  INVESTMENT;  HOST COUNTRY;  INVESTMENT CLIMATE;  TAX SYSTEM;  JUDICIAL SYSTEMS;  TREATY;  POLITICAL STABILITY;  REVENUE;  TAX POLICY;  PROFIT;  TAX DEDUCTIONS;  INVESTMENTS;  TAX TREATMENT;  INTELLECTUAL PROPERTY;  TRANSITION ECONOMIES;  INSTRUMENT;  MICRO DATA;  PUBLIC SPENDING;  PROFITS;  FINANCIAL SYSTEMS;  LABOR MARKETS;  PROPERTY RIGHTS PROTECTION;  DEVELOPMENT BANK;  LOSS OF REVENUE;  INVESTING;  Report;  Rapport;  Informe; 

年份：

2015

出版地：

Washington,USA

语种：

English

摘要：

Experience shows that there is often ample room for more effective and efficient use of investment tax incentives in low-income countries. Tax incentives generally rank low in investment climate surveys in low-income countries, and there are many examples in which they are reported to be redundant, that is, investment will have been undertaken even without them. And their fiscal cost can be high, reducing opportunities for much-needed public spending on infrastructure, public services or social support, or requiring higher taxes on other activities. This paper responds to a request of the G20 Development Working Group for an exploration of options for low-income countries' effective and efficient use of tax incentives for investment. To that end, it develops principles for the design and governance of tax incentives and provides guidance on good practices in these areas. Since much of the pressure to offer incentives stems from an awareness of those offered by other countries, the paper also discusses options for international coordination to address the risk of mutually damaging spillovers from such tax competition. Finally, a separate background document develops practical tools and models that can help assess the costs and benefits of tax incentives, which is essential for informed decision making. The aim is thus to assist low-income countries (LICs) in reviewing and reforming their tax incentives, so as to better align them with their developmental objectives. This paper relates to other global initiatives aimed at strengthening domestic revenue mobilization in LICs.