LEADER 05626oam 22011054 450 001 9910824305303321 005 20240402050453.0 010 $a1-4623-2855-5 010 $a1-4527-5614-7 010 $a1-282-84158-0 010 $a9786612841583 010 $a1-4518-7065-5 035 $a(CKB)3390000000010461 035 $a(EBL)1607996 035 $a(Au-PeEL)EBL1607996 035 $a(CaPaEBR)ebr10368745 035 $a(OCoLC)870245160 035 $a(IMF)WPIEE2008207 035 $a(MiAaPQ)EBC1607996 035 $a(EXLCZ)993390000000010461 100 $a20020129d2008 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 10$aInvestment Incentives and Effective Tax Rates in the Philippines : $eA Comparison With Neighboring Countries /$fAlexander Klemm, Dennis Botman, Reza Baqir 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2008. 215 $a1 online resource (36 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/207 300 $aDescription based upon print version of record. 320 $aIncludes bibliographical references. 327 $aContents; 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? 327 $a5. 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 Vietnam 327 $aAppendix: Derivation of Effective Tax Rates 330 3 $aWe compare the general tax provisions and investment incentives in the Philippines to six other east-Asian economies-Malaysia, Indonesia, Lao, Vietnam, Cambodia, and Thailand. We calculate effective tax rates and find that general effective tax rates are relatively high in the Philippines, while investment incentives are comparable to those in neighboring countries. Tax holidays are most attractive for very profitable firms, creating redundancy, and for investment in short-lived assets. We also consider recently-proposed tax reforms that would replace tax holidays by a reduced corporate income tax rate or a low tax on gross receipts. The results suggest that this would result in stronger incentives to invest, while government revenue increases. Alternatively, replacing holidays with a general reduction in the corporate tax rate and offering accelerated depreciation will either not provide the same incentives or be very costly. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2008/207 606 $aInvestment tax credit$zPhilippines 606 $aTax incentives$zPhilippines 606 $aCorporations$xTaxation$zPhilippines 606 $aInvestments: General$2imf 606 $aTaxation$2imf 606 $aCorporate Taxation$2imf 606 $aTaxation, Subsidies, and Revenue: General$2imf 606 $aBusiness Taxes and Subsidies$2imf 606 $aInvestment$2imf 606 $aCapital$2imf 606 $aIntangible Capital$2imf 606 $aCapacity$2imf 606 $aPublic finance & taxation$2imf 606 $aCorporate & business tax$2imf 606 $aMacroeconomics$2imf 606 $aTax holidays$2imf 606 $aTax incentives$2imf 606 $aEffective tax rate$2imf 606 $aCorporate income tax$2imf 606 $aDepreciation$2imf 606 $aTax administration and procedure$2imf 606 $aCorporations$2imf 606 $aSaving and investment$2imf 607 $aPhilippines$2imf 615 0$aInvestment tax credit 615 0$aTax incentives 615 0$aCorporations$xTaxation 615 7$aInvestments: General 615 7$aTaxation 615 7$aCorporate Taxation 615 7$aTaxation, Subsidies, and Revenue: General 615 7$aBusiness Taxes and Subsidies 615 7$aInvestment 615 7$aCapital 615 7$aIntangible Capital 615 7$aCapacity 615 7$aPublic finance & taxation 615 7$aCorporate & business tax 615 7$aMacroeconomics 615 7$aTax holidays 615 7$aTax incentives 615 7$aEffective tax rate 615 7$aCorporate income tax 615 7$aDepreciation 615 7$aTax administration and procedure 615 7$aCorporations 615 7$aSaving and investment 676 $a336.2426 700 $aKlemm$b Alexander$01614323 701 $aBotman$b Dennis$0901784 701 $aBaqir$b Reza$01614324 801 0$bDcWaIMF 906 $aBOOK 912 $a9910824305303321 996 $aInvestment Incentives and Effective Tax Rates in the Philippines$93944104 997 $aUNINA