Taxation and Economic Development among Pacific Asian Countries

By Richard A. Musgrave; Ching-Huei Chang et al. | Go to book overview

1
Introduction

Richard A. Musgrave

My role in beginning this volume on problems of tax reform in East Asian countries has to be a modest one. Although I have been involved over the years in tax reform in developing countries, including countries in the Pacific Asian region--Taiwan, Korea, Indonesia, and, further away, Burma--I have not been so recently. I therefore offer some comments on recent tax reforms in the Western world and on what message they carry for East Asian countries. These reforms will affect these countries directly, especially in their impact upon capital flows, and they may also offer policy guidance. This, however, involves two provisos. First, it needs to be determined whether the Western reforms did in fact constitute improvements, and second, it needs to be shown that what is appropriate there is also suitable in the Pacific Asian setting. Neither of these conditions necessarily follow. There may be a tendency for consultants to recommend policies abroad they cannot sell at home, and such policies may not be appropriate in a foreign setting.


1. Patterns of Tax Reform in Western Countries

In high-income countries the 1980s were unusually productive of major tax reforms. 1 They were similar in scope only to those of the 1940s but differed sharply in setting and direction. In the 1940s the necessities of war finance called for a drastic increase in revenue, and this in an atmosphere supportive of progressive taxation and liberal (as distinct from libertarian) in terms of rectifying social problems. The reforms of the 1980s, on the contrary, proceeded in a setting of declining or constant revenue requirements, and in a climate that had become critical of the public sector in general and of high marginal tax rates in particular. Attention thus shifted from equity to supply-side concerns, from the desire to impose taxation that served the public sector to that which minimized

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Taxation and Economic Development among Pacific Asian Countries
Table of contents

Table of contents

  • Title Page iii
  • Contents v
  • 1 - Introduction 1
  • Notes 10
  • 2 - Indonesian Tax Reform, 1985-1990 11
  • Notes 41
  • References 42
  • 3 - The Tax System and Economic Development in Japan 44
  • Notes 61
  • References 62
  • 4 - Tax Reform in the Philippines 64
  • Notes 80
  • 5 - Tax Reform in Malaysia: Trends and Options 82
  • Notes 100
  • References 101
  • 6 - Property Taxation as a National Policy Tool in Taiwan 104
  • Notes 116
  • References 116
  • Notes 137
  • References 138
  • 8 - Effective Corporate Tax Rates on Capital Income in Hong Kong 140
  • Notes 153
  • 9 - Tax Policy and Business Investment: Taiwan's Manufacturing Industry 156
  • Notes 165
  • References 167
  • 10 - The International Dimension of Korean Tax Policy 168
  • Notes 191
  • References 192
  • 11 - Tax Incentives for Export Promotion in Japan, 1953-1964 194
  • Notes 207
  • References 208
  • 12 - International Aspects of Income Taxation in Taiwan 210
  • Notes 221
  • References 223
  • 13 - Financing Social Security in Singapore Through the Central Provident Fund 225
  • Notes 255
  • References 255
  • 14 - A New Role for Fiscal Policy and Tax Finance in Korea 259
  • Notes 275
  • References 276
  • About the Book 280
  • About the Editors and Contributors 281
  • Index 283
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