Assessment of the fiscal sector performance in the last decade has often laid the blame on poor revenue performance to below-target tax collection performance of government tax collection agencies, frequently attributed to graft and corruption among its officials and employees. The attribution,...

This paper analyses the impact of corporate taxation on a firm's debt policy. We contribute to the existing literature in two ways: 1. we incorporate firm heterogeneity with respect to firm size and legal form, 2. we explicitly model persistence in the debt-to-asset ratio. Econometrically this...