Sun | Jul 21, 2019

IDB study urges regional gov't to modernise taxation

Published:Tuesday | May 14, 2013 | 12:09 PM

A new study by the Inter-American Development Bank is urging Latin American and Caribbean governments to renew efforts to modernize their tax system.



The study says while the region has made great strides in boosting tax collection in recent years, countries in the region need a new generation of fiscal and tax reform.



It highlights that these reforms will help to reduce income inequality, cut tax evasion, boost productivity, strengthen local governments and preserve the region’s natural resources.



The study notes that taxation is largely viewed in the region as a means of generating income to pay governments’ bills, rather than as a valuable instrument to achieve important development goals.



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