Experience shows that there is often ample room for more effective and efficient use of investment tax incentives in low-income countries. Tax incentives generally rank low in investment climate surveys in low-income countries, and there are many examples in which they are reported to be...

"Tax expenditures, in the form of tax provisions, are government expenditures. They are conceptually and functionally distinct from those tax provisions whose purpose is to raise revenue. Tax expenditure programs are comparable to entitlement programs. Therefore, tax expenditures must be...

This background paper describes five different tools that can be used for the assessment of tax incentives by governments in low income countries' (LICs). The first tool (an application of cost-benefit analysis) provides an overarching framework for assessment. Evaluations of the various costs...

"The authors describe the main trends of Brazil's fiscal policy during the past decade and analyze (1) the ability to raise the primary surplus in response to external shocks, (2) the pro-cyclical nature of fiscal policy, and (3) the long-run impact of government expenditure composition and...

This report consists of two volumes. Volume I examines whether, and how, the core goals of public expenditure management, i.e., balanced fiscal aggregates, resource allocations to strategic sectors, and equity and microeconomic efficiency of public spending are met in Ecuador. Volume II presents...

Belarus faces significant fiscal challenges, stemming from the structural features of its economic model. As of mid-2011, under a severe exchange rate and balance of payments crisis, the Government needs to pursue a carefully sequenced strategy of macroeconomic adjustment coupled with a strong...

This Public Expenditure Review analyzes trends in revenues, expenditures and development outcomes over the past 10 years. Its main findings are that, since the late 1990s, the Philippines has been caught in a low-revenue, low-expenditure trap and that the current level of public revenues is not...

This Public Expenditure and Financial Accountability (PEFA) assessment provides an updated and systematic diagnostic of the Public Financial Management (PFM) system in Georgia and provides mid-2007 as a base line for complementing the Government's efforts to monitor progress in the PFM reforms...