Tax Policy for Emerging Markets

This paper discusses important tax policy issues facing developing countries today. It views tax policy from both the macroeconomic perspective, which focuses on broad questions such as the level and composition of tax revenue, and the microeconomic perspective, which focuses on certain design aspects of selected major taxes, such as the personal income tax, the corporate income tax, the value-added tax, excises, and import tariffs. It provides a review of the rote of tax incentives in these countries, and identifies some policy challenges posed by the globalization of the world economy.Developing countries;Tax reforms;Emerging markets;taxation, tax policy, tax incentives, tax revenue, tax system, tax administration, tax systems, tax credits, income taxes, consumption tax, consumption taxes, tax burden, optimal tax, trade taxes, tax ratio, personal income tax, tax authorities, tax reform, tax rates, capital accumulation, level of taxation, personal income taxes, tax effort, optimal taxation, tax avoidance, corporate income tax, tax treatment, indirect tax, tax structure, amount of tax, tariff rates, tax purposes, tax mix, tax base, national tax journal, tax changes, tax sparing, tax on capital, theory of taxation, tax treaties, tax administrations, tax expenditure, public expenditures, fiscal policy, tax savings, tax journal, tax structures, home country, tax returns, sales taxes, interest expenditure, level of public spending, tariff reduction, double taxation, public finance, public spending, marginal tax rate, international tax, taxation of capital income, tax reform program, structural adjustment, fiscal incentives, foreign tax credits, fiscal affairs department, fiscal difficulties, sales tax, tax competition, tax credit, tax rate structure, total tax revenue, foreign tax, taxable profits, tax offices, budgetary position, taxable income, tax liabilities, budgetary process, capital tax, domestic tax, tariff reform, public expenditure, domestic tax reform, budgetary imbalances, commodity taxation, fiscal situation, fiscal affairs, domestic taxation, optimal ? level of taxation, personal income tax rate, fiscal systems, optimal ? tax, tax instruments, tax auditors, social security taxes, duty drawback, nominal tariffs, domestic taxes, retail sales tax, fiscal studies, tax area, value-added taxes, excise taxes, fiscal incentives for investment, tax bases, tax assignment, government spending, marginal tax rates, property taxes, taxation of income, vat net, government expenditure, tax incidence