The report will as- ing specific categories of revenue (taxes on because the analysis depends primarily sess the credibility and sustainability of international trade, income, and consump- upon examining the relative shares of the the budget, review major shifts, compare tion, as well as other sources) and of ex- categories of revenue and of expenditure Jamaica’s revenues to that of peer upper pen. [...] The following section will 22 CAPRI I Budget Breakdown: An Analysis of the Government's Proposed Revenue and Expenditure CAPRI I Budget Breakdown 2023: An Analysis of the Government's Proposed Revenue and Expenditure 4 International Comparisons The share that each source of tax contributes to revenue varies based on a country’s specifics, given factors such as the level of informality, the size of. [...] factors such as the level of informality, the A tax to GDP ratio of at least 15 percent size of the economy, and the share of trade is considered a tipping point in making a To compare like to like, countries in the to total GDP. [...] These oth- paying income tax.26 er factors may include the structure of a There is often an inverse relationship be- country’s economy, the design and use of Taxes on income and profits were 24 per- tween the size of a country’s informal the tax system, and the capacity of the tax cent of total revenue in Jamaica in 2021, sector and the share of revenue generated administration. [...] CAPRI I Budget Breakdown: An Analysis of the Government's Proposed Revenue and Expenditure CAPRI I Budget Breakdown 2023: An Analysis of the Government's Proposed Revenue and Expenditure 29 H aving set out that the budget is credible and sustainable, looked at what are the trends in expenditure, examined the ef- There is the elimination of GCT on the fectiveness of how the government financ- es th.
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- 40
- Published in
- Jamaica
