20220911-IMF-Funding_the_Future_Tax_Revenue_Mobilization_in_the_Pacific_Island_Countries_62页_6mb

报告摘要

Summary of "Funding the Future: Tax Revenue Mobilization in the Pacific Island Countries"

Pacific Island Countries (PICs) face substantial spending needs related to achieving the UN Sustainable Development Goals (SDGs) and adapting to climate change, but financing options remain limited, with significant reliance on volatile sources like grants and commodity exports.

Spending Needs: PICs lag in SDG progress, with substantial annual additional spending requirements. Climate adaptation, particularly for resilient infrastructure, adds significantly to these costs, sometimes reaching up to 4% of GDP.
Financing Challenges: The Pacific Islands have limited access to international and domestic capital markets, compounded by high debt distress risks. Government debt levels are rising due to pandemic-related fiscal measures.
Tax Revenue Assessment: On average, PICs collect around 21% of GDP in tax revenue. While progress has been made, much of this is due to windfall gains rather than policy reforms. Non-tax revenues dominate (56% of government revenue), and tax potential for the short to medium term is an additional 3% of GDP.
Tax Bottlenecks: Key constraints include limited reform momentum, weak compliance, underfunded tax administrations, informal economy, and inefficient VAT systems. VAT potential is underutilized, with many PICs collecting only 50% of possible VAT revenue.
Policy Recommendations: PICs should unwind pandemic-induced tax relief measures, expand VAT systems (standard rates are low compared to global averages), rationalize tax exemptions, and strengthen tax administration—especially through investment in digital systems and capacity building.
Case Studies: Fiji demonstrates strong revenue performance but faces recovery challenges post-COVID. Tonga suffers from high climate vulnerability and needs reforms targeting exemptions and customs administration. Palau is in the early stages of a major VAT reform.
Regional Imperative: Mobilizing domestic resources through a medium-term revenue strategy (MTRS) is critical under limited access to climate finance and debt constraints. The IMF and partners are supporting technical capacity building to implement reforms.