Article by Social Share
Washington –The Inter-American Development Bank (IDB) says tax revenues rose moderately across Latin America and the Caribbean (LAC) in 2019 before declining sharply in 2020 as the coronavirus (COVID-19) pandemic drove down global economic activity.
The Washington-based financial institution said revenue statistics in Latin America and the Caribbean 2021, shows that the average tax-to-gross domestic product (GDP) ratio in the LAC region rose to 22.9 per cent in 2019, an increase of 0.3 percentage points, due largely to increases in the Caribbean sub-region.
Although the COVID-19 pandemic subsequently caused a sharp decline in tax and resource revenues in 2020, the report identifies the key role of fiscal policy in the region’s response to the pandemic and considers how tax policy can contribute to a green and inclusive recovery.
IDB says tax revenues in the Caribbean rose modestly before COVID-19 crisis
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IDB says tax revenues in the Caribbean rose modestly before COVID-19 crisis
jamaicaobserver.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jamaicaobserver.com Daily Mail and Mail on Sunday newspapers.
IDB says tax revenues in the Caribbean rose modestly before COVID-19 crisis
jamaicaobserver.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jamaicaobserver.com Daily Mail and Mail on Sunday newspapers.