Tax revenues rise, but aren’t reflective of overall GDP growth
While the country’s tax revenue grew about 20 per cent in the first half of this year compared to the same period in 2012, experts say the amount still isn’t high enough to accurately reflect the country’s GDP growth. …
Stephen Higgins, former CEO of ANZ Royal bank, said that country’s nominal GDP growth was probably about 11 per cent over the same period, “which would suggest the government overall hasn’t managed to increase revenues as a proportion of GDP, which is a little disappointing after the progress they seemed to make last year”.
“The International Monetary Fund has been pretty clear that what they call revenue mobilisation, or lifting the tax take, needs to improve. Corruption is a factor, but also building up capacity and capability in revenue raising areas is important,” he said in an email message. “Improving and streamlining customs would make a big difference, and is something that most businesses would want to see,” he added. …
http://www.phnompenhpost.com/business/tax-revenues-rise-aren%E2%80%99t-reflective-overall-gdp-growth
