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Tax Avoidance in Sub-Saharan Africa’s Mining Sector
This paper aims to contribute to the international policy debate around profit shifting, tax avoidance and SSA’s revenue mobilization efforts in three ways. First, it examines the importance of mining, the role of multinational enterprises (MNEs), and mining revenue outcomes in SSA. Second, it assesses the magnitude of profit shifting in mining drawing on new macro level research, supplemented by case studies to illustrate the lived experience of tax avoidance in SSA mining. Third, the paper identifies tax policy reforms that could boost revenue mobilization in SSA.
International Corporate Tax Reform
To relieve the pressure on the outdated international corporate tax system, an ambitious reform was agreed at the Inclusive Framework (IF) on Base Erosion and Profit Shifting in 2021, with now 138 jurisdictions joining. It complements previous efforts to mitigate profit shifting by addressing the challenges of the digitalization of the economy through a new allocation of taxing rights to market economies (Pillar 1) and tax competition through a global minimum corporate tax (Pillar 2). This paper concludes that the agreement makes the international tax system more robust to tax spillovers, better equipped to address digitalization, and modestly raises global tax revenues.
Labor Taxation in the Western Balkan: Looking Back and Forward
This paper examines how labor taxation (personal income taxes and social security contributions) in the Western Balkan contributes to labor market outcomes such as high informality and a significant gender gap in participation rates. We find that limited progressivity combined with high tax wedge on low incomes poses a major twin equity-efficiency challenge in the region, resulting in low redistributive capacity and inadequate incentives to enter the job market. Policy implications are discussed with a view to alleviating the excessively high tax wedges on low incomes, while improving progressivity of income taxation.
Rwanda
Recent developments. Rwanda’s economy continued with fast-paced post-pandemic growth in 2022, but macroeconomic imbalances have emerged. Strong output in manufacturing and services sectors more than offset weaker agricultural production and construction activity. Rising food prices and strong domestic demand fueled by high credit growth partly contributed to a persistent inflation which stood at 19.3 percent in March. Robust import demand coupled with high commodity prices and tightening global financing conditions have weakened Rwanda’s external position. The uncertain external environment and the reduced prospects for external concessional financing are compounding the challenges from the legacy of the pandemic. The authorities are committed to implementing frontloaded fiscal policy adjustment, while the National Bank of Rwanda stands ready to take further actions to anchor inflation expectations. The outlook is subject to high uncertainty, mainly stemming from deepening geopolitical fragmentation, volatility in global energy and fertilizer prices, a steeper-than-projected decline in trading partners growth, or a funding squeeze.
Mali
Against the background of the pandemic shock, a coup d’état on August 18, 2020 led to a period of international disengagement with Mali and an economic blockade by ECOWAS until the appointment of a transitional government in October. Fund engagement was also put on hold during this period, delaying the resumption of discussions under the 2nd and 3rd reviews of the ECF. The transitional government, which will be in place for 18 months until general elections, announced its full adherence to the international obligations and commitments of the previous government, including the reform agenda under the ECF.
The Political Economy of Chinese FDI and Spillover Effects in Africa
What are the impacts of Chinese investment in Africa? Is it transforming economic development on the continent? This book is different from many other studies of this issue, as it unpacks the ‘black box’ of technological and learning spillover effects from Chinese firms to others. Rather than using econometric tools, which has now become a standard approach and come with their own set of challenges, the authors investigate the interactions between Chinese investors and African firms in terms of the transfer of technology and learning and explain why such interactions are rare. Only by understanding the reasons behind this rarity can approaches be developed to promote spillovers.
Taxation and Inequality in Latin America
Taxation and Inequality in Latin America takes a heterodox political economy approach, focusing on Latin America, where current problems of taxation have existed for a century and great wealth contrasts with abject poverty. The book analyzes the relation of natural resource wealth, allocational politics and the limited role of taxation for redistribution, and progressive resource mobilization. By drawing on the political economy of tax regimes, the book considers the specific conditions of taxation in Latin America, which apply to a large part of the Global South and more than 100 countries specializing in the extraction and export of raw materials. This book will cover: taxation and the dom...
How to Establish a Tax Policy Unit
This paper explores that in developing economies, sufficient tax revenue is necessary to finance spending on health care, education, and infrastructure—all of which are prerequisites for economic growth and development. However, it is not simply the revenue ratio that matters; the quality of the revenue system is also essential for delivering fair and efficient outcomes. To design a revenue system that fosters sustainable economic and social development and enjoys broad public support, it is essential for tax reform proposals to be carefully assessed, quantitatively analyzed, and openly debated. This requires that decision makers and all stakeholders in the debate have access to the best available facts, data, and independent evidence-based analysis, including about the impact of tax reforms on revenue, the income distribution, and economic performance. The central institutional actor in the decision making process—the executive—is best supported in this process by what is generally called a tax policy unit (TPU). TPUs are tasked to guide and inform the tax policy debate, based on facts, independent data analysis, and multidisciplinary efforts.
Indonesia
This Selected Issues paper analyzes the capital inflows to Indonesia since the global financial crisis. Capital inflows to Indonesia have increased since the crisis. Their average volume increased from 3.25 percent of GDP in 2005–09 to 4.50 percent of GDP in the first quarter of 2010 to the third quarter of 2016. From the global perspective, driven by the liquidity released from the systemic economies’ unconventional monetary policies, a global search for yields has led to large capital inflows to emerging and developing economies (EMDEs), especially portfolio inflows. Although many EMDEs experienced a steady decline in capital inflows during 2013–16, capital inflows to Indonesia increased and reached a peak in late 2014, and then started to decline but remained at relatively high levels from the first quarter of 2015 to the third quarter of 2016.
Multi-Country Report
This report reviews the IMF’s effort to build fiscal capacity in fragile states. It presents case studies on IMF technical assistance (TA) and capacity development in the fiscal area, provided by its Fiscal Affairs Department in collaboration with the Legal Department, in countries including Afghanistan, Haiti, Kosovo, Liberia, Mali, Myanmar, South Sudan, and Timor-Leste. The details in the case studies in various areas of fiscal policy management shed light on country-specific characteristics, how well IMF TA helped countries address fiscal capacity in the past, and lessons learned that could improve TA strategies and delivery in the future.
