2022-01-20-IMF-Tax_Policy_for_Inclusive_Growth_in_Latin_America_and_the_Caribbean_40页_1mb

报告摘要

Tax Policy for Inclusive Growth in Latin America and the Caribbean

Latin America and the Caribbean (LAC) collects significantly lower tax revenue than the OECD, with a tax structure favoring indirect taxes like VAT. Key findings and recommendations include:

Key Challenges

Revenue Gap: LAC's tax-to-GDP ratio (22.4%) is half that of the OECD (35.5%). Corporate income taxes (CIT) exceed OECD levels, while personal income taxes (PIT) are underutilized.
Informality and Enforcement: High informality (24-68%) limits tax collection, despite improvements in some countries.
Inclusive Growth: Fiscal policy must balance revenue mobilization with equitable outcomes, addressing rising inequality and informality.

Reform Recommendations

PIT Improvements: Simplify tax codes, eliminate regressive deductions, and introduce Earned Income Tax Credits (EITC) to incentivize labor formalization, reduce poverty, and offset social security costs. This could raise PIT revenue significantly.
Corporate Tax Rationalization: Reform CIT to broaden the tax base, align statutory rates with global standards, limit interest deductibility, and address profit shifting. Align with OECD/G20 initiatives to attract investment and combat tax erosion.
VAT Enhancements: Reduce exemptions and reduced rates to improve efficiency. Implement targeted transfers (e.g., social card programs) to compensate vulnerable households during base broadening.
Other Revenue Sources: Introduce property taxes, estate taxes, and environmental taxes (e.g., carbon tax) to fund public services and address climate change.

Cross-Country Context

LAC averages lag the OECD in PIT collection and VAT efficiency, with notable variations among countries (e.g., Uruguay and Mexico lead in PIT, Chile and Uruguay excel in VAT).

Political Economy Considerations

Reforms should be sequenced strategically, prioritizing fiscally sustainable policies during post-pandemic recovery.
Ensure design supports inclusivity, e.g., EITC targeting low-income workers and childcare support for female labor force participation.

The report underscores that well-designed tax reforms can enhance revenue mobilization, foster inclusive growth, and address long-standing fiscal challenges through equity-focused policy adjustments.

展开完整摘要