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Equity and EffciencyCosts of Raising Tax Revenue inColombia

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Author Info

  • Thomas F. Rutherford

    ()

  • Miles K. Light

    ()

  • Felipe Barrera Osorio

    ()

Abstract

This paper examines the Colombian tax system as it is represented in the 1997 social accounts. We implement an economic model based on these data and evaluate the welfare e®ects of raising additional government revenue. The paper considers the marginal and inframarginal cost of raising revenue hrough various tax instruments, including captial taxes, excise taxes, mport tari®s, and value-added taxes. We conclude that value-added taxes nd select excise taxes are the most e±cient revenue source in both the hort- and long-run. Our analysis addresses both e±ciency and equity onsiderations in the design of tax policy. Independent of the need for dditional revenue, we find that social welfare could be improved through the adoption of more uniform tari® and value-added taxes, but some reforms of this type may be regressive.

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Bibliographic Info

Paper provided by FEDESARROLLO in its series INFORMES DE INVESTIGACIÓN with number 002583.

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Length: 58
Date of creation: 31 Oct 2003
Date of revision:
Handle: RePEc:col:000124:002583

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Related research

Keywords: Impuestos; Modelos de Equilibrio General Aplicado;

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Cited by:
  1. Roy Bahl & Sally Wallace, 2007. "From Income Tax to Consumption Tax? The Case of Jamaica," International Center for Public Policy Working Paper Series, at AYSPS, GSU, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University paper0712, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
  2. Richard M. bird, 2003. "Taxation in Latin America: Reflections on Sustainability and the Balance between Equity and Efficiency," International Tax Program Papers, International Tax Program, Institute for International Business, Joseph L. Rotman School of Management, University of Toronto 0306, International Tax Program, Institute for International Business, Joseph L. Rotman School of Management, University of Toronto.

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