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Domestic revenues
June 29, 2021
Domestic Resource Mobilisation (DRM) is the cornerstone of taming debt growth, providing governments with adequate funds for development and delivering public services.
Weak administrative capacity, low tax morale and compliance, and a limited tax base are key challenges in many developing countries – and Pakistan is no different. The country has been undergoing tax reforms since 1990 to overcome systemic failures. However, the economy struggles to raise its overall tax-to-GDP ratio to worthwhile levels to manage burgeoning fiscal deficits.
Success at raising domestic revenues remains weak at best, despite support of international partners through tax administrative reform projects and technical assistance provided to Pakistan. In fact, the FBR tax-to-GDP ratio of 11.2 percent in 2018 has slid to a single digit.
African Ministers of finance and Central Bank Governors support integrated value chains for sustainable economies au.int - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from au.int Daily Mail and Mail on Sunday newspapers.
Domestic Resource Mobilization and International Tax Cooperation
Effective, timely, and corruption-free delivery of public services can require a steady source of financing for many developing countries in Asia and the Pacific. One of the biggest challenges is how to pool more resources to improve public financial management and enhance government capacity. Countries need to take strong policy and institutional reforms to raise tax yields to meet their Sustainable Development Goals (SDGs). In a globalized world, where cross-border transactions are inevitable, they also need to meet international standards and better cooperate in implementing and enforcing tax rules.
ADB is in a unique position to improve governance at the national and sub-national level, develop capacity and share knowledge at the regional level, and contribute to the global initiatives in collaboration with other international organizations and sub-regional tax associations in the Asia and the Pacific region.
By Onyebuchi Ezigbo
The federal government has said that it will require N1.89 trillion to successfully implement the new five-year strategic plan aimed at eradicating malaria in Nigeria.
It said that about N352 billion out of the amount is required for the year 2021 programme implementation.
In his address to mark this year’s World Malaria Day, the Minister of Health, Dr. Osagie Ehanire, said the target set out in the National Malaria Strategic Plan of 2021 to 2025 is to achieve less than 10 per cent parasite prevalence and reduction in mortality attributable to malaria to less than 50 deaths per 1,000 live births by 2025.