Taxation and Economic Development among Pacific Asian Countries

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

4
Tax Reform in the Philippines

Gerardo P. Sicat


1. Introduction

The Philippines undertook significant reforms of the tax system during the 1980s. Many changes also took place in the tax system during the previous decade, but these improvements were more or less structured on the widening of the tax net. This was done by expanding the coverage of taxed activities and commodities and by tax-rate adjustments, which were, on the average, mainly upward.

The reforms initiated in the 1980s were systemwide in nature, affecting first income taxation ( 1980, 1987), and then indirect taxation ( 1987). The earlier period of changes in the tax system, being piecemeal in character, had brought about a system that later required a more general reform.

The significant changes in the tax system took place during the second decade of the Ferdinand Marcos government. Further reforms were undertaken immediately after February 1986, when Corazon Aquino assumed power. It can be said that deep reforms in the tax system during the latter period were partly because of the ongoing studies of tax reform agenda from a previous period. There were, however, a few instances of reversal of earlier reforms.

The speed of tax reforms depends in part on political commitment. It is significant that the major changes in the tax structure took place during a watershed period in Philippine history in which the government structure was basically authoritarian. Probably, this provided greater scope for broad and faster changes. This is true of the tax changes that took place during the 1970s and it is also true of the reforms that were adopted in 1987. 1 The general trends in these systemwide reforms will be discussed in this chapter.

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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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