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Fiscal Panorama of Latin America and the Caribbean 2019: Tax policies for resource mobilization in the framework of the 2030 Agenda for Sustainable Development

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Abstract

Fiscal consolidation continued in Latin America and the Caribbean in 2018. The fiscal position in Latin America improved, reflecting cuts in primary spending, mainly through capital expenditures. Despite this adjustment, gross public debt is trending upward in Latin America with rises occurring in several countries. Conversely, the Caribbean countries continue to generate primary surpluses —driven, in 2018, by higher public revenues— and have thus succeeded in reducing their gross public debt levels, which nevertheless remain high. Fiscal Panorama of Latin America and the Caribbean, 2019 examines the role of tax policy as a tool for driving progress towards achievement of the Sustainable Development Goals. One way to strengthen collection is to address the challenges of taxing the rapidly growing digital economy. Tax policy can also be used to shift production and consumption patterns to encourage decarbonization of the economy and support improvements in public health. Lastly, the document analyses the constraints on domestic resource mobilization caused by fiscal incentives and how, effectively geared towards investment, these incentives could instead foster sustainable and inclusive development.

Suggested Citation

  • -, 2019. "Fiscal Panorama of Latin America and the Caribbean 2019: Tax policies for resource mobilization in the framework of the 2030 Agenda for Sustainable Development," Libros y Documentos Institucionales, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 44517 edited by Eclac.
    • Handle: RePEc:ecr:col016:44517
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    1. Leonard E. Burman & Marvin Phaup, 2011. "Tax Expenditures, the Size and Efficiency of Government, and Implications for Budget Reform," NBER Working Papers 17268, National Bureau of Economic Research, Inc.
    2. -, 2018. "The Inefficiency of Inequality," Libros y Documentos Institucionales, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 43443 edited by Eclac.
    3. Alexander Klemm & Stefan Parys, 2012. "Empirical evidence on the effects of tax incentives," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 19(3), pages 393-423, June.
    4. Burton,Mark & Sadiq,Kerrie, 2013. "Tax Expenditure Management," Cambridge Books, Cambridge University Press, number 9781107007369, September.
    5. -, 2018. "The Inefficiency of Inequality," Documentos de posición del período de sesiones de la Comisión 43443, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
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    1. -, 2020. "Tax incentives for businesses in Latin America and the Caribbean. Summary," Coediciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 45204 edited by Eclac.

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