Taxation and Economic Development among Pacific Asian Countries

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

Notes

The author thanks Dr. Angel Q. Yoingo, assistant secretary in the Philippine Finance Department, and Milwida Guevarra for helpful discussions and access to useful information. The chapter reflects only the personal views of the author.

1.
Most of the major 1987 tax reforms reported in this chapter were adopted during the transitional period prior to the full establishment of the Congress, which is the lawmaking body.
2.
See Vito Tanzi, "Quantitative Characteristics of Tax Systems," in D. Newberry and N. Stern, eds., The Theory of Taxation for Developing Countries, New York, Oxford University Press, 1989.
3.
The search for revenues had caused the government, for instance, to revert to unsound turnover transactions taxes to raise revenues during economic crisis, as happened during the 1984-1986 crisis. These taxes were among those abolished during the economic recovery.
4.
Thus, a notable feature of reports in the Philippine press would indicate that the problems of tax evasion and customs smuggling are common events. However, the incidence of news about malfeasants being brought to court and punished is nil.
5.
It can be argued that schedularization created greater complexity rather than simplification. The Philippine revenue authorities claim that the division of the total net income tax base into separate taxes made it easier to administer both taxes because in the end, the taxes on passive incomes were final taxes.
6.
See, for instance, John F. Due, Indirect Taxation in Developing Countries, Johns Hopkins University Press, Baltimore, 1970.
7.
These taxes were (1) the fixed, or privilege, taxes, (2) percentage tax on original sales, (3) percentage tax on subsequent sales, (4) advance sales tax, (5) compensating tax, (6) millers' tax, (7) contractors' tax, (8) brokers' tax, and (9) tax on lessors of personal property. Many taxes on other types of services, however, remained unaffected by the VAT. Eleven different taxes on services, including those on hotels, caterers, financial institutions, and games and gambling were kept.
8.
The projected yield was 14.33 billion pesos, and the proceeds from the VAT amounted to 13.48 billion pesos. From the Department of Finance, "Assessment of the Value-Added Tax After a Year of Implementation," August 1989.
9.
These notorious marketing monopolies caused the further deterioration of conditions in these two major industries from the late 1970s. The export taxes on these industries would probably have become permanent because they were ad valorem and not excessive, but the development of the marketing monopolies for these exports exacerbated the criticisms against the export taxes.
10.
The argument that export taxes discourage the exports of the taxed commodities is valid. But this argument can be met effectively if the government at all times maintains a favorable exchange rate policy.
11.
See A. Q. Yoingco, "Recent Major Tax Reforms in the Philippines: A Synthesis," paper before the Council of Executive Secretaries of Tax Organizations (CESTO), ESCAP, Bangkok, Thailand, June 14-16, 1989. See also A. Q. Yoingco,

-80-

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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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