- As tax revenue is highly correlated with development spending, Asia must mobilize taxes to fund its vast development needs.
- While tax priorities vary across Asian economies, all must optimize tax expenditures so that the lost revenue does not exceed their benefits.
- Although value-added tax rates are generally lower in developing Asia than in other regions, this is revenue mainstay and must still be better utilized.
Developing Asia has vast public spending needs to build a more inclusive, sustainable future for the region. How can authorities mobilize sufficient tax revenues fairly while still recovering from the COVID-19 pandemic?
The panelists will share their thoughts on the challenges, distributional consequences, how to support effective tax mobilization, and the emerging issues of gender and taxation, local government finance, and resource revenues facing developing economies in Asia.