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DomesticRevenue MobilizationinWAEMU LjubicaDordevicandAnamariaMaftei SIP/2025/070 IMFSelectedIssuesPapersarepreparedbyIMFstaffasbackgrounddocumentationforperiodicconsultationswithmembercountries.ItisbasedontheinformationavailableatthetimeitwascompletedonApril17,2025.ThispaperisalsopublishedseparatelyasIMFCountryReportNo25/111. 2025 JUN ©2025InternationalMonetaryFundSIP/2025/070 IMFSelectedIssuesPaper AfricanDepartment DomesticRevenueMobilizationinWAEMUPreparedbyLjubicaDordevicandAnamariaMaftei AuthorizedfordistributionbyLucaARicci June2025 IMFSelectedIssuesPapersarepreparedbyIMFstaffasbackgrounddocumentationforperiodicconsultationswithmembercountries.ItisbasedontheinformationavailableatthetimeitwascompletedonApril17,2025.ThispaperisalsopublishedseparatelyasIMFCountryReportNo25/111. ABSTRACT:DomesticRevenueMobilization(DRM)isessentialforfinancingeconomicandsocialdevelopmentandensuringdebtsustainabilityinWAEMU,particularlyinlightofrisinginterest,highsecurityspending,andtheprospectivereductioninforeignaid.WhileDRMhasgenerallyimprovedoverthepasttwodecades,itremainsbelowtheformertargetandexhibitssignificantdisparitiesacrosscountries,affectedbystructuralchallenges–suchasnarrowtaxbases,limitedenforcementcapacity,andwidespreadinformality.Strengtheningtaxpolicyandrevenueadministration(bystreamliningtaxsystems,rationalizingexemptions,andimprovingcompliance),supportedbyenhancedregionaloversightandcooperation,iscriticaltoensuringsustainablerevenuemobilization. RECOMMENDEDCITATION:LjubicaDordevicandAnamariaMaftei,DomesticRevenueMobilizationinWAEMU.IMFSelectedIssuesPaper(SIP/2025/070).Washington,DC:InternationalMonetaryFund. JELClassificationNumbers: E62,H2,O23 Keywords WAEMU,revenuemobilization,taxation,taxpolicy,revenueadministration Author’sE-MailAddress: ldordevic@imf.org;amaftei@imf.org SELECTEDISSUESPAPERS DomesticRevenueMobilizationinWAEMU WestAfricanEconomicandMonetaryUnion PreparedbyLjubicaDordevicandAnamariaMaftei1 1PreparedbyLjubicaDordevic(AFR)andAnamariaMaftei(FADT1),withmuchappreciatedinsightsonrevenueadministrationbyReneOssa(FADR2)andFayçalSawadogo(FADT1)ontaxpotentialandIMFWoRLD,andexcellentresearchsupportbyFionaHesse-Triballi.WewouldliketothankLucaAntonioRicci,ChristopheWaerzeggers,MarioMansour,LawrenceNorton,andtheauthoritiesfortheirsuggestionsandcomments. April17,2025 WESTAFRICANECONOMICANDMONETARYUNION SELECTEDISSUES PreparedByLjubicaDordevicandAnamariaMaftei ApprovedBy LucaA.RicciAfricanDepartment CONTENTS DOMESTICREVENUEMOBILIZATIONINWAEMU3 A.Background3 B.TaxRevenueSources6 C.TaxPotential8 D.ProgressAchievedinDRM10 E.PolicyRecommendations12 BOX 1.TheNewDRMActionPlan(2024)11 FIGURES 1.Revenue4 2.TaxandNon-taxRevenue4 3.ProgressinAchievingtheTax-to-GDPTarget4 4.GovernmentTaxRevenue5 5.DistributionofTotalRevenueandTaxRevenue5 6.SourcesofTaxRevenue6 7.StatutoryTaxRates7 8.TaxPerformanceIndicators8 9.TaxPotentialinWAEMUCountries9 10.TaxGap9 11.OpinionontheLevelofCorruptionwithintheInstitutionsintheWAEMU Region12 References18 ANNEXES I.DataSourcesComparison15 II.EstimatingTaxPotential16 DOMESTICREVENUEMOBILIZATIONINWAEMU1 DomesticRevenueMobilization(DRM)iscriticalforfinancingeconomicandsocialdevelopmentandensuringdebtsustainabilityinWAEMU,especiallyinlightofrisinginterest,highsecurityspending,andtheprospectivereductioninforeignaid.Itisacornerstoneoftheauthorities’reformprogramsandoneofthemostpressingpolicychallenges.Overthelasttwodecades,DRMinWAEMUhasimprovedoverall,butithasshownapersistentlylargeheterogeneity—andevendivergence—inrevenueperformanceacrosscountries.ThesecondarycriterionofthesuspendedConvergencePact,whichsetsa20percentflooronthetaxtoGDPratio,remainsahighbarformostWAEMUcountries,reflectingagenerallynarrowtaxbase,weakenforcementcapacity,andhighinformality,amongotherfactors. Goingforward,arenewedcommitmenttostreamlinetaxsystems,rationalizeexemptions,andimprovecompliancewoulddurablysupportrevenuemobilization.RegionalsurveillancemechanismsshouldensureeffectiveimplementationandenforcementofregionalDRMcommitments,whileenhancingregionalcooperationonrevenueadministration,aswellassupportingcollaborationandknowledgetransferwithintheunion. A.Background 1.DRMisoneofthemostpressingpolicychallengesinWAEMUandacornerstoneofmostauthorities’reformprograms.BoostingdomesticrevenueisessentialtosupportfiscalconsolidationeffortsandmeettheSustainableDevelopmentGoals(SDGs),includingpovertyandinequalityreduction,aswellasadequateaccesstobasicpublicservices(e.g.,health,education,water,andelectricity),whilecoveringhighsecurityspendingneeds.DRMisalsocriticaltorebuildbufferstoincreaseresiliencetofutureshocks,aswellastoensurebothdebtsustainabilityandfinancialstability,especiallyinlightoftighteningfinancingconditions(withrisingyieldsandshorteningmaturitiesonregionalsovereignissuances),risksofcrowdingouttheprivatesector(duetosystemicliquidityshortages),andprospectivereductioninforeignaid.TheWAEMUConvergencePact(2015)—suspendedandexpiredin2020—includedasecondaryconvergencecriteriononthetax-to-GDPfloorbeing20percent,which