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The IMF’s Fiscal Affairs Department has been working with Mauritania on capacity building in tax policy. Mauritania has recently created a tax policy unit and adopted a new General Tax Code in 2019 with a corporate income tax and a semi-dual approach to personal income taxation. However, there is significant scope to enhance the efficiency and effectiveness of income taxes, including due to the proliferation of wasteful tax exemptions. The fast urbanization also calls for a review of recurrent property taxation. The formalization of property rights requires a temporary suspension of the excessive registration fees. Consumption taxation can also be improved by broadening the tax base, for example, by abolishing regressive value-added tax exemptions or by imposing excise taxes on imported used vehicles. Finally, several recommendations aim to support the reform of the Mining Code, such as introducing some progressivity, prohibiting the negotiation of any tax parameters, and strengthening the principle of ring-fencing.

Energy: Government Policy --- Environmental Economics: Government Policy --- Environmental Taxes and Subsidies --- Redistributive Effects --- Taxation and Subsidies: Externalities

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This paper assesses the economic effects of climate policies on different regions and countries with a focus on external adjustment. The paper finds that various climate policies could have substantially different impacts on external balances over the next decade. A credible and globally coordinated carbon tax would decrease current account balances in greener advanced economies and increase current accounts in more fossil-fuel-dependent regions, reflecting a disproportionate decline in investment for the latter group. Green supply-side policies—green subsidy and infrastructure investment—would increase investment and saving but would have a more muted external sector impact because of the constrained pace of expansion for renewables or the symmetry of the infrastructure boost. Country characteristics, such as initial carbon intensity and net fossil fuel exports, ultimately determine the current account responses. For the global economy, a coordinated climate change mitigation policy package would shift capital towards advanced economies. Following an initial rise, the global interest rates would fall over time with increases in the carbon tax. These external sector effects, however, depend crucially on the degree of international policy coordination and credibility.

Climate --- Environmental Taxes and Subsidies --- Global Warming --- International Policy Coordination and Transmission --- Natural Disasters and Their Management --- Open Economy Macroeconomics --- Redistributive Effects --- Taxation and Subsidies: Externalities

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This paper examines the environmental effects of mineral taxes in a framework that recognizes the importance of rates and cumulative externalities and proposes an appropriate corrective tax. It concludes that mineral resources taxation should combine neutral taxes with a dynamic Pigovian type tax proposed in the paper. Such a tax resembles a specific tax plus an element that depends on the amount of remaining reserves. This resemblance means that, in practice, specific taxes may act as proxies for environmental taxes. The paper also points at complementarities and tradeoffs between economic and environmental concerns that could arise in reforming mineral taxes.

Agricultural and Natural Resource Economics --- Business Taxes and Subsidies --- Environment --- Environmental and Ecological Economics: General --- Environmental Economics --- Environmental economics --- Environmental Economics: General --- Environmental impact charges --- Environmental management --- Environmental sciences --- Environmental Taxes and Subsidies --- Environmental taxes --- Natural Resources --- Natural resources --- Non-renewable resources --- Nonrenewable Resources and Conservation: General --- Public finance & taxation --- Redistributive Effects --- Resource rent tax --- Taxation and Subsidies: Externalities --- Taxation --- Taxes --- Papua New Guinea

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Using the modern theory of public economics as the point of departure, this paper outlines a basic principle for setting taxes and/or prices of commodities based on two key criteria, efficiency and equity. The paper shows that for petroleum products, the basic principle needs modification in the presence of various externalities and market imperfections in a setting where the instruments to address the externalities and imperfections are limited. Drawing from theoretical and empirical literature, the paper provides an operational framework and then illustrates how, for a country like Nigeria, the relevant taxes/subsidies to correct the externalities and to address equity and revenue considerations can be measured with a view to setting prices of petroleum products. However, the paper refrains from making any specific suggestion for policy reform in Nigeria. The framework outlined in the paper can be applied to the analysis of petroleum product taxes and prices in other developing countries.

Investments: Energy --- Macroeconomics --- Public Finance --- Taxation --- Efficiency --- Optimal Taxation --- Taxation and Subsidies: Incidence --- Energy: Demand and Supply --- Prices --- Taxation and Subsidies: Externalities --- Redistributive Effects --- Environmental Taxes and Subsidies --- Energy: General --- National Government Expenditures and Related Policies: General --- Public finance & taxation --- Investment & securities --- Oil prices --- Congestion tax --- Gasoline --- Public expenditure review --- Fuel prices --- Taxes --- Commodities --- Expenditure --- Congestion pricing --- Gas industry --- Expenditures, Public --- Nigeria

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Many developing countries have significant natural resource endowments, presenting a remarkable opportunity to boost long-term growth. However, this opportunity comes with enormous challenges. To maximize social and economic benefits, strong governance and institutional capacity are essential. Effective and transparent tax administration is crucial for properly managing revenues from natural resources so the country may benefit economically and socially from its natural resources. Revenue Administration describes the challenges that developing countries face and presents good practices to help build countries’ long-term institutional capacity.

Public Finance --- Taxation --- Taxation, Subsidies, and Revenue: General --- Taxation and Subsidies: Externalities --- Redistributive Effects --- Environmental Taxes and Subsidies --- Business Taxes and Subsidies --- Taxation, Subsidies, and Revenues: Other Sources of Revenue --- Auditing --- Public finance & taxation --- Management accounting & bookkeeping --- Tax administration core functions --- Revenue administration --- Administration in revenue administration --- Taxpayer services --- Public financial management (PFM) --- Tax administration and procedure --- Revenue --- Angola