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Tax Incentives in The Philippines; A Regional Perspective

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  • Nigel A Chalk

Abstract

The Philippines is faced with a policy dilemma in the area of corporate taxation. On the one hand, the country has, over the past few years, witnessed a decline in revenue as a share of output. On the other, it is operating in an increasingly competitive regional market for foreign direct investment. In order to remain competitive, the Philippines offers a broad array of fiscal incentives to entice inward investment and pursue the country's development goals. This paper looks at the fiscal incentives available in the Philippines, compares them with those available in the ASEAN region, and with the evidence on the efficacy of tax incentives in a global context. The paper provides some broad conclusions on the use of the various forms of tax incentives in the Philippines and on their administration.

Suggested Citation

  • Nigel A Chalk, 2001. "Tax Incentives in The Philippines; A Regional Perspective," IMF Working Papers 01/181, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:01/181
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    References listed on IDEAS

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    1. Ching-huei Chang & Peter W. H. Cheng, 1992. "Tax Policy and Foreign Direct Investment in Taiwan," NBER Chapters,in: The Political Economy of Tax Reform, NBER-EASE Volume 1, pages 315-338 National Bureau of Economic Research, Inc.
    2. Agarwal, Jamuna Prasad, 1986. "Home country incentives and FDI in ASEAN countries," Kiel Working Papers 258, Kiel Institute for the World Economy (IfW).
    3. Chen, Jo-Hui, 1998. "The Effects of International Competition of Fiscal Incentives on Foreign Direct Investment," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 51(4), pages 497-516.
    4. Peter K. Clark, 1993. "Tax Incentives and Equipment Investment," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 24(1), pages 317-347.
    5. Michael J. Boskin, 1987. "Tax Policy and the International Location of Investment," NBER Chapters,in: Taxes and Capital Formation, pages 73-82 National Bureau of Economic Research, Inc.
    6. Shah, Anwar & Slemrod, Joel, 1991. "Do Taxes Matter for Foreign Direct Investment?," World Bank Economic Review, World Bank Group, vol. 5(3), pages 473-491, September.
    7. Itagaki, Takao, 1979. "Theory of the Multinational Firm: An Analysis of Effects of Government Policies," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 20(2), pages 437-448, June.
    8. Aldaba, Rafaelita M., 1994. "Foreign Direct Investment in the Philippines: A Reassessment," Research Paper Series RPS 1994-10, Philippine Institute for Development Studies.
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    Citations

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    Cited by:

    1. Sebastian Sosa, 2006. "Tax Incentives and Investment in the Eastern Caribbean," IMF Working Papers 06/23, International Monetary Fund.
    2. Revilla, Ma. Laarni D., 2016. "Cross-Country Econometric Study on the Impact of Fiscal Incentives on Foreign Direct Investment," Discussion Papers DP 2016-17, Philippine Institute for Development Studies.
    3. repec:taf:rjapxx:v:15:y:2010:i:2:p:166-191 is not listed on IDEAS
    4. Kevin Fletcher, 2005. "Increasing Public Sector Revenue in the Philippines; Equity and Efficiency Considerations," IMF Working Papers 05/22, International Monetary Fund.
    5. International Monetary Fund, 2012. "Philippines; Technical Assistance Report on Road Map for a Pro-Growth and Equitable Tax System," IMF Staff Country Reports 12/60, International Monetary Fund.
    6. Ma. Laarni D. Revilla, 2016. "Cross-country Econometric Study on the Impact of Fiscal Incentives on FDI," Working Papers id:11472, eSocialSciences.
    7. Dennis Botman & Alexander Klemm & Reza Baqir, 2010. "Investment incentives and effective tax rates in the Philippines: a comparison with neighboring countries," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 15(2), pages 166-191.
    8. Revilla, Ma. Laarni D., 2016. "Cross-Country Econometric Study on the Impact of Fiscal Incentives on Foreign Direct Investment," Research Paper Series DP 2016-17, Philippine Institute for Development Studies.

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