Publication:
Timor-Leste Economic Report, December 2021: Steadying the Ship

dc.contributor.authorWorld Bank
dc.date.accessioned2021-12-15T15:07:38Z
dc.date.available2021-12-15T15:07:38Z
dc.date.issued2021-12-01
dc.description.abstractGiven the finite nature of petroleum resources and associated sovereign wealth fund, it iscritical for Timor-Leste to build a strong foundation for sustainable revenue mobilization tofinance public spending on development and poverty reduction. Timor-Leste faces the risks ofa fiscal cliff as, under the current spending trajectories, the Petroleum Fund may be fullyexhausted in about ten years. In line with the recent Government’s efforts, there is an opportunity to collect more revenue using value-added and property taxes. The income tax rate is among the lowest in the world while most excise tax rates are insufficient. The authorities may consider to: (i) introduce a value-added tax (VAT); (ii) raise outdated excise tax rates; (iii) increase income tax rates, with a view to promoting greater alignment with regional peers; (iv) improve revenue administration by modernizing the tax system and investing in capacity; and (v) evaluate the potential of a property tax and reporting on tax expenditures (while planning a gradual phasing out).en
dc.identifierhttp://documents.worldbank.org/curated/undefined/099852112092112927/P177351079830d04d0a8a00b4a704ea3d12
dc.identifier.urihttps://hdl.handle.net/10986/36733
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC OUTLOOK
dc.subjectREVENUE MOBILIZATION
dc.subjectCORONAVIRUS
dc.subjectCOVID-19
dc.subjectFISCAL TRENDS
dc.subjectFUEL PRICE
dc.subjectEXTERNAL BALANCE
dc.subjectTAX COLLECTION
dc.titleTimor-Leste Economic Report, December 2021en
dc.title.subtitleSteadying the Shipen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.date.lastmodified2021-12-09T00:00:00Zen
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/undefined/099852112092112927/P177351079830d04d0a8a00b4a704ea3d12
okr.guid099852112092112927
okr.identifier.externaldocumentum33666554
okr.identifier.internaldocumentum33666554
okr.identifier.report166791
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099852112092112927/pdf/P177351079830d04d0a8a00b4a704ea3d12.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryTimor-Leste
okr.topicHealth, Nutrition and Population::Early Child and Children's Health
okr.topicMacroeconomics and Economic Growth::Business Cycles and Stabilization Policies
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topicPublic Sector Development::Tax Administration
okr.unitEFI-EAP-MTI-MacroFiscal-2 (EEAM2)
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