The paper explores the role of financial sector regulators and supervisors with respect to climate risks; it discusses (i) the importance of adhering to core mandates and alignment with international standards; (ii) how existing regulatory and supervisory tools and approaches can be leveraged to...

This technical note and manual (TNM) draws lessons from cybersecurity surveys conducted by the Monetary and Capital Markets Department (MCM) to provide advice to central banks, supervisory authorities and policy makers seeking to strengthen cybersecurity of their financial sectors. The TNM...

This note presents the methodology behind the IMF's World Revenue Longitudinal Database, a comprehensive data set that tracks government revenue trends since the early 1990s. With data for 193 countries, including 190 IMF member countries, the World Revenue Longitudinal Database provides...

The technical note and manual "Sibling Rivalry in the Financial Safety Net," authored by Atilla Arda and Jan Nolte, examines the governance structures essential critical for effective bank resolution and deposit insurance functions. Considering the vulnerabilities exposed during the 2008-09...

Traditional top-down tax gap assessments identify the size of a tax gap, but not its origins. By extracting more granular information from top-down tax gap assessments, and combining this information with compliance risk management (CRM) techniques, it is possible to: improve the accuracy of CRM...

This technical note presents the Reverse Method, a novel indirect approach for estimating the global value-added tax (VAT) compliance gap. The Reverse Method leverages public datasets and a calibrated econometric model to produce scalable, comparable, and indicative VAT gap estimates for over...

This technical note provides an introduction to generative artificial intelligence (GenAI) and its potential to support compliance risk analysis in tax and customs administration. Written primarily for a technical audience, it seeks to raise awareness of GenAI by explaining and demonstrating its...

The TaxFit microsimulation model calculates the taxes payable and benefits receivable by hypothetical households across an expanding list of countries. It simulates personal income taxes and social security contributions for all adults in a household, as well as family benefits, social...

Engaging on education spending supports the delivery on the Fund's macroeconomic mandate. Education is a key determinant of economic growth and development and plays a fundamental role in reducing inequalities. Public intervention in education is widespread and is generally justified on both...

This technical note offers practical guidance to senior managers and technical staff in Customs administrations for developing a Compliance Improvement Plan (CIP) using an Integrated Risk Management (IRM) approach. It clearly outlines the components of a CIP based on IRM, explains what it...