This paper analyzes Solomon Islands’ ongoing reforms concerning of the mineral taxation regime and the fiscal impact of mineral resources. The analysis shows that mineral revenue could be substantial, provided that mineral prices remain strong in the medium term. Enforcing the tax agreement...

There are few areas of economic policy-making in which the returns to good decisions are so high-and the punishment of bad decisions so cruel-as in the management of natural resource wealth. Rich endowments of oil, gas and minerals have set some countries on courses of sustained and robust...

This paper presents the Tax Summary for the Solomon Islands. The paper discusses that normal business expenses are deductible against chargeable income. A $7,800 personal exemption applies to both resident and nonresident individuals. This general exemption is subject to apportionment on a...

This Tax Summary and Statistical Appendix for the Solomon Islands outlines the summary of various taxes. Residents are taxed on their worldwide income. Nonresidents are taxed on income sourced from the Solomon Islands. Both resident and nonresident investors undertaking commercial, economic,...

The Icelandic government has launched a review of the tax system, with a view to improving its income redistribution, growth orientation, and efficiency features, as well as increasing its revenue mobilization potential. It aims at minimizing detrimental effects on employment and growth, and at...

The strategy that has the best chance of allowing the Republic of Marshall Islands (RMI) to achieve fiscal sustainability after FY2023 involves substantial fiscal consolidation. The alternative (policy action) scenario involves a substantial fiscal adjustment starting in FY2009. Projections show...

This Selected Issues paper outlines economic developments in the Republic of the Marshall Islands (RMI) since independence in 1986, focusing on the challenges posed by dependence on foreign grants, and progress toward achieving budgetary self-reliance. Like most other Pacific islands, the RMI...

Developing and transition economies are prone to financial crises, including balance of payments and banking crises. These crises affect poverty and the distribution of income through a variety of channels: slowdowns in economic activity, relative price changes, and fiscal retrenchment, among...

Strong economic fundamentals, robust policy framework, and a sustained track record of excellent policy implementation have facilitated the maintenance of orderly economic conditions in Mexico even amidst the substantial external volatility during the global crisis. Executive Directors welcomed...

This paper highlights that central banks from Brazil, Chile, Colombia, Mexico, and Peru (the LA5 countries) reaped the benefits of what they sowed in successfully weathering the global crisis. The adoption of far-reaching institutional, policy, and operational reforms during the last two decades...