05626oam 22011054 450 991082430530332120240402050453.01-4623-2855-51-4527-5614-71-282-84158-097866128415831-4518-7065-5(CKB)3390000000010461(EBL)1607996(Au-PeEL)EBL1607996(CaPaEBR)ebr10368745(OCoLC)870245160(IMF)WPIEE2008207(MiAaPQ)EBC1607996(EXLCZ)99339000000001046120020129d2008 uf 0engur|n|---|||||rdacontentrdamediardacarrierInvestment Incentives and Effective Tax Rates in the Philippines : A Comparison With Neighboring Countries /Alexander Klemm, Dennis Botman, Reza Baqir1st ed.Washington, D.C. :International Monetary Fund,2008.1 online resource (36 p.)IMF Working PapersIMF working paper ;WP/08/207Description based upon print version of record.Includes bibliographical references.Contents; I. Introduction; II. A Birds-Eye View of the Taxation Regime; III. International Experience with Tax Holidays; Tables; 1. Pros and Cons for the Government of Different Types of Tax Incentives; IV. Effective Tax Rates; A. Methodology; B. Estimation Results; Figures; 1. Effective Tax Rates for Companies Not Receiving Tax Incentices; 2. Effective Tax Rates for Companies Receiving the Maximum Tax Holiday; 3. Reduction in Effective Tax Rates From Receiving the Maximum Tax Holiday; 4. Economic Depreciation and Tax Incentives: Do Short- or Long-Lived Assets Benefit More from Tax Holidays?5. Philippines: Effective Tax Rates Under Different Holiday Years Granted/Remaining6. Effective Tax Rates Under Different Holiday Years Granted/Remaining; V. Incentive Reform in the Philippines; Boxes; 1. Incentive Reform Bills Under Consideration in the House of Representatives; 7. Philippines: Effective Tax Rates Under Current Incentives and Congress' Reform Proposals; 8. Philippines: Comparing Enhanced Depreciation Versus Current Incentives and Congress' Reform Proposals; VI. Conclusions; References; 2. Investment Incentives in Cambodia, Lao P.D.R., Thailand, and VietnamAppendix: Derivation of Effective Tax RatesWe compare the general tax provisions and investment incentives in the Philippines to six other east-Asian economies-Malaysia, Indonesia, Lao, Vietnam, Cambodia, and Thailand. We calculate effective tax rates and find that general effective tax rates are relatively high in the Philippines, while investment incentives are comparable to those in neighboring countries. Tax holidays are most attractive for very profitable firms, creating redundancy, and for investment in short-lived assets. We also consider recently-proposed tax reforms that would replace tax holidays by a reduced corporate income tax rate or a low tax on gross receipts. The results suggest that this would result in stronger incentives to invest, while government revenue increases. Alternatively, replacing holidays with a general reduction in the corporate tax rate and offering accelerated depreciation will either not provide the same incentives or be very costly.IMF Working Papers; Working Paper ;No. 2008/207Investment tax creditPhilippinesTax incentivesPhilippinesCorporationsTaxationPhilippinesInvestments: GeneralimfTaxationimfCorporate TaxationimfTaxation, Subsidies, and Revenue: GeneralimfBusiness Taxes and SubsidiesimfInvestmentimfCapitalimfIntangible CapitalimfCapacityimfPublic finance & taxationimfCorporate & business taximfMacroeconomicsimfTax holidaysimfTax incentivesimfEffective tax rateimfCorporate income taximfDepreciationimfTax administration and procedureimfCorporationsimfSaving and investmentimfPhilippinesimfInvestment tax creditTax incentivesCorporationsTaxationInvestments: GeneralTaxationCorporate TaxationTaxation, Subsidies, and Revenue: GeneralBusiness Taxes and SubsidiesInvestmentCapitalIntangible CapitalCapacityPublic finance & taxationCorporate & business taxMacroeconomicsTax holidaysTax incentivesEffective tax rateCorporate income taxDepreciationTax administration and procedureCorporationsSaving and investment336.2426Klemm Alexander1614323Botman Dennis901784Baqir Reza1614324DcWaIMFBOOK9910824305303321Investment Incentives and Effective Tax Rates in the Philippines3944104UNINA