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OECD Publishes Revenue Statistics in Asian and Pacific Economies

The OECD has announced the publication of the sixth edition of Revenue Statistics in Asian and Pacific Economies, which covers 17 countries, including Australia, Cook Islands, Fiji, Indonesia, Japan, Kazakhstan, Korea, Malaysia, New Zealand, Papua New Guinea, Philippines, Samoa, Singapore, Solomon Islands, Thailand, Tokelau, and Vanuatu. The key findings are as follows:

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Key findings

Tax revenues as a percentage of GDP

  • In 2017, tax-to-GDP ratios varied across the 17 economies, from 11.5% in Indonesia to 32.0% in New Zealand. Tax-to-GDP ratios in all Asian and Pacific economies in the publication were lower than the OECD average tax-to-GDP ratio of 34.2%.
  • Eight of the economies had tax-to-GDP ratios above the Latin American and the Caribbean (LAC) average of 22.8%.
  • Five countries (Fiji, Kazakhstan, Singapore, Solomon Islands and Vanuatu,) experienced increases larger than 1.0 percentage point between 2016 and 2017 while Malaysia and Papua New Guinea experienced the largest decreases (0.7 percentage points in both cases).
  • Over the last decade, tax-to-GDP ratios increased in 11 countries in this publication and declined in six. The highest increases were observed in Fiji and the Solomon Islands (4.4 and 4.5 percentage points, respectively) while the largest declines were registered in Kazakhstan and Papua New Guinea (9.7 and 7.0 percentage points, respectively).

Tax structure

  • In nine economies in this publication, taxes on goods and services accounted for the largest share of tax revenues in 2017. Within goods and services, VAT is an important and increasing source of revenues in most Asian and Pacific economies.
  • Income taxes provided the main share of tax revenues in the eight remaining countries with the exception of Japan, where social security contributions (40.4% of total tax revenue, 2016 figure) represented the largest source.
  • The tax structure of Asian economies tends to differ from that of Pacific economies:
    • VAT accounted for at least 25% of total tax revenue in the Pacific economies with the exception of Australia and Papua New Guinea, but less than 25% in the Asian economies, except Indonesia.
    • Revenues from CIT were higher than revenues from personal income tax (PIT) in most Asian economies, with the exception of Japan and Korea; whereas the reverse is true in the Pacific, except in Fiji.
  • Revenues from VAT ranged from 12.9% of total tax revenue in Australia (2016 figure) to 44.4% in the Cook Islands (the Solomon Islands and Tokelau do not impose VAT) and was higher as a share of total taxes in the Pacific compared to Asian economies.
  • Across all economies with the exception of Tokelau (which does not impose CIT) and Vanuatu (which does not impose income taxes), revenues from CIT ranged from 9.1% of total tax revenue in Samoa to 41.5% in Malaysia.

To access the report and data, visit: http://oecd/revenue-statistics-in-asia-and-pacific.

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