Philippines Could Unlock Up to 7.1% of GDP in Fiscal Gains Through Bolder Reforms

Summary

The Philippines has the potential to unlock up to 7.1% of its GDP in fiscal gains through more aggressive tax reforms and improved revenue collection, according to a new World Bank Group report, which suggests that the country could save between 3.6% and 7.1% of its GDP annually by broadening its tax base and increasing tax compliance.