-
Revenue Statistics in Latin America and the Caribbean2023 is a joint publication by the Organisation for Economic Co-operation and Development (OECD) Centre for Tax Policy and Administration, the OECD Development Centre, the United Nations Economic Commission for Latin America and the Caribbean (UN-ECLAC), the Inter-American Center of Tax Administrations (CIAT) and the Inter-American Development Bank (IDB). It presents detailed, internationally comparable data on tax revenues for 27 Latin American and Caribbean (LAC) economies, four of which are OECD members.
-
Revenue Statistics in Latin America and the Caribbean 2023 provides internationally comparable data on tax levels and tax structures for 27 Latin American and Caribbean (LAC) countries: Antigua and Barbuda, Argentina, the Bahamas, Barbados, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, the Dominican Republic, Ecuador, El Salvador, Guatemala, Guyana, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Saint Lucia, Trinidad and Tobago, Uruguay and Venezuela.
-
Economies in Latin America and the Caribbean (LAC) rebounded strongly in 2021 after registering one of the most severe output contractions in 2020 due to the COVID-19 crisis. The recovery was driven by fiscal stimulus, more favourable external conditions and the acceleration of the LAC region’s vaccination campaigns, which allowed economies to reopen. Nevertheless, poverty and inequality in the LAC region remained above pre‑pandemic levels. Although the recovery in 2021 helped relieve some of the pressure on public finances, growth slowed in 2022 and structurally tight fiscal space, largely attributable to low tax revenues, still needs to be addressed (OECD et al., 2022[1]).
-
The outbreak of the war in Ukraine reinforced an upward trend in international energy prices that was already well established in 2021. Global prices for a wide range of energy commodities rebounded in late 2020 and early 2021, supported by a revival in economic activity as COVID-19 public health measures were progressively lifted ().Movements in energy commodity markets became increasingly synchronised in the second half of 2021, as higher prices and supply disruptions led to widespread fuel switching. This provided further impetus to prices, increasing demand for other energy commodities – particularly coal – that were already in tight supply.
-
The tax system serves as the primary tool by which governments collect funds to finance public spending and investment. It also makes an important contribution to the broad objectives of fiscal policy, such as reducing inequality through income redistribution, supporting vulnerable populations, bolstering economic growth and job creation, boosting private investment, attracting foreign capital, supporting specific economic sectors and regions, and promoting or disincentivising the production or consumption of certain goods and services. Instead of spending public funds to meet these goals, the government may forego revenues through preferential tax treatments, commonly referred to as tax expenditures.
-
-
-
Revenues of Latin American, Caribbean and OECD countries have been attributed to the different levels of government according to the revised guidelines set out in the final version of the 2008 System of National Accounts (SNA ). Under this, revenues are generally attributed to the level of government that exercises the authority to impose the tax or has the final discretion to set and vary the tax rate
-