Tuesday, April 19, 2022

Ways to Design Tax Systems to Enhance Social Protection

Asia and Pacific economies have enjoyed remarkable achievements over the past few decades, but face serious challenges. The tax share in the developing economies of the region remains lower than is necessary to support adequate public services (Highfield and Chooi, 2022). The region is falling behind on all 17 Sustainable Development Goals (SDGs) and social safety nets and social insurance systems are inadequate. Tax systems in the region’s developing economies have many weaknesses, and the tax share in the economy remains too low and is often volatile. There is considerable scope to reform tax systems to strengthen revenues and contribute to stronger systems of social protection. Read More