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PHL below Asia-Pacific average in tax revenues

People line up to file their income tax returns at the Bureau of Internal Revenue office in Intramuros, Manila, April 18. — PHILIPPINE STAR/ RUSSELL A. PALMA

THE PHILIPPINES’ tax effort eased in 2020 due to the coronavirus disease 2019 (COVID-19) lockdowns, falling below the Asia-Pacific average, a study showed. 

The Philippines’ tax-to-gross domestic product (GDP) ratio stood at 17.8% in 2020, slightly lower than the 18.1% recorded in 2019, according to the Organisation for Economic Co-operation and Development (OECD) in a report released on Monday. 

The Philippines’ tax-to-GDP ratio was the fourth highest among eight Southeast Asian economies. 

Philippines’ tax effort eased in 2020

However, it was below the Asia-Pacific regional average of 19.1% in 2020, which was skewed by the above-average ratios of 12 of the 28 economies involved in the study. This includes Japan (31.4% in 2019), South Korea (28%), Vietnam (22.7%), Mongolia (21.2%),…

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