This review marks the 10th anniversary of the safeguards policy. Introduced in March 2000, the policy's main objective is to mitigate potential risks of misuse of resources, including Fund resources, and misreporting of monetary program data. The policy was last reviewed in 2005, when the...

This paper identifies tax factors in 21 developing countries that have an impact on foreign direct investment flows. It categorizes those factors into issues associated with tax coordination; tax rates and rate structures; and composition of the tax base. Recent actions by countries reveal no...

Efficiency, equity (fairness), and simplicity are three key words in characterizing the principles of proposed tax reforms in many countries. The internationalization of the financial market through capital mobility among the industrial countries is a recent phenomenon and it is possible that...

Many countries have initiated reforms in their monetary control procedures by relaxing direct controls and increasing the role of market processes. The changed approach is often inevitable when countries reform their financial systems in support of growth and adjustment. This is because reform...

This paper reviews the literature on factors which affect saving and capital formation in industrialized countries. Problems of measurement are briefly examined. Evidence of the effect on the rate of saving of real rates of return, income redistribution, allocation of saving between corporations...

The classical corporate profits tax in the United States involves non-neutralities between: different sources of financing; different forms of business organization; and retaining or distributing earnings and may result in the U.S. investor being at a disadvantage vis-à-vis foreign investors....

Market-oriented economic reforms in centrally planned economies have altered the functions and objectives of key policy instruments, particularly in the case of fiscal policy. As a result of reform, economic management requires the use of “indirect” levers to regulate the behavior of...

The paper deals with the activities of Fund staff with taxation. It is made up of four parts. Part I outlines the connection between Fund major activities and taxation. Part II surveys general influences on Fund staff with implications for tax work. Part III outlines the relationship between...

The Technical Assistance Report on the Philippines’ road map for a pro-growth and equitable tax system is examined. Tax revenue has declined over the last decade in the Philippines owing to generous and expanding tax incentives, tariff rate reduction, deteriorating tax compliance caused by...