Guinea - Opportunities for Enhanced Domestic Revenue Mobilization : Value-Added Tax and Excise Taxes
Revenue mobilization is a key constraint to economic development in the Republic of Guinea. The government’s five-year development plan (2016-2020) aims at fostering higher and more inclusive growth through public investments that require financing...
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| Language: | English |
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World Bank, Washington, DC
2019
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| Online Access: | http://documents.worldbank.org/curated/en/472021561614678154/Guinea-Opportunities-for-Enhanced-Domestic-Revenue-Mobilization-Value-Added-Tax-and-Excise-Taxes http://hdl.handle.net/10986/32023 |
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okr-10986-320232021-06-14T09:55:13Z Guinea - Opportunities for Enhanced Domestic Revenue Mobilization : Value-Added Tax and Excise Taxes World Bank EXCISE TAX REVENUE MOBILIZATION TAX ADMINISTRATION TAX POLICY PUBLIC FINANCIAL MANAGEMENT MINING TAX VALUE ADDED TAX Revenue mobilization is a key constraint to economic development in the Republic of Guinea. The government’s five-year development plan (2016-2020) aims at fostering higher and more inclusive growth through public investments that require financing beyond current fiscal capacity. In this context, Guinea is seeking to efficiently raise additional domestic revenues and external investment financing. Development partners are supporting Guinea with technical assistance for revenue mobilization. The International Monetary Fund (IMF) and the European Union are supporting authorities with direct tax policy, non-tax revenue, and administration issues. The objective of this report is to shed light on indirect taxes, particularly value-added tax (VAT) and excise taxes. The report provides an overview of the main features of tax policy and administration in Guinea, followed by a more detailed analysis of VAT and excise taxes. The focus on indirect taxation is a result of both its significant revenue potential and coordination with other development partners. The analysis presented fills an important gap in the understanding of how Guinea can increase its tax revenues. On VAT, the study finds that addressing policy and administrative constraints can mobilize additional revenues while improving the business climate. On excise taxation, the study finds that existing excise rates are unevenly applied, with scope for raising rates in the future. To systematically address its revenue challenges across all tax types, Guinea should also consider development of a medium-term revenue strategy (MTRS). The report is structured as follows: in the first section, an overview of the evolution and composition of domestic revenues in Guinea is presented. In the second section, VAT is analyzed. The final section reviews excise tax policy and its implementation on international goods and domestic goods. 2019-07-02T19:53:39Z 2019-07-02T19:53:39Z 2019-05-01 Report http://documents.worldbank.org/curated/en/472021561614678154/Guinea-Opportunities-for-Enhanced-Domestic-Revenue-Mobilization-Value-Added-Tax-and-Excise-Taxes http://hdl.handle.net/10986/32023 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Other Public Sector Study Economic & Sector Work Africa Guinea |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
EXCISE TAX REVENUE MOBILIZATION TAX ADMINISTRATION TAX POLICY PUBLIC FINANCIAL MANAGEMENT MINING TAX VALUE ADDED TAX |
| spellingShingle |
EXCISE TAX REVENUE MOBILIZATION TAX ADMINISTRATION TAX POLICY PUBLIC FINANCIAL MANAGEMENT MINING TAX VALUE ADDED TAX World Bank Guinea - Opportunities for Enhanced Domestic Revenue Mobilization : Value-Added Tax and Excise Taxes |
| geographic_facet |
Africa Guinea |
| description |
Revenue mobilization is a key constraint
to economic development in the Republic of Guinea. The
government’s five-year development plan (2016-2020) aims at
fostering higher and more inclusive growth through public
investments that require financing beyond current fiscal
capacity. In this context, Guinea is seeking to efficiently
raise additional domestic revenues and external investment
financing. Development partners are supporting Guinea with
technical assistance for revenue mobilization. The
International Monetary Fund (IMF) and the European Union are
supporting authorities with direct tax policy, non-tax
revenue, and administration issues. The objective of this
report is to shed light on indirect taxes, particularly
value-added tax (VAT) and excise taxes. The report provides
an overview of the main features of tax policy and
administration in Guinea, followed by a more detailed
analysis of VAT and excise taxes. The focus on indirect
taxation is a result of both its significant revenue
potential and coordination with other development partners.
The analysis presented fills an important gap in the
understanding of how Guinea can increase its tax revenues.
On VAT, the study finds that addressing policy and
administrative constraints can mobilize additional revenues
while improving the business climate. On excise taxation,
the study finds that existing excise rates are unevenly
applied, with scope for raising rates in the future. To
systematically address its revenue challenges across all tax
types, Guinea should also consider development of a
medium-term revenue strategy (MTRS). The report is
structured as follows: in the first section, an overview of
the evolution and composition of domestic revenues in Guinea
is presented. In the second section, VAT is analyzed. The
final section reviews excise tax policy and its
implementation on international goods and domestic goods. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Guinea - Opportunities for Enhanced Domestic Revenue Mobilization : Value-Added Tax and Excise Taxes |
| title_short |
Guinea - Opportunities for Enhanced Domestic Revenue Mobilization : Value-Added Tax and Excise Taxes |
| title_full |
Guinea - Opportunities for Enhanced Domestic Revenue Mobilization : Value-Added Tax and Excise Taxes |
| title_fullStr |
Guinea - Opportunities for Enhanced Domestic Revenue Mobilization : Value-Added Tax and Excise Taxes |
| title_full_unstemmed |
Guinea - Opportunities for Enhanced Domestic Revenue Mobilization : Value-Added Tax and Excise Taxes |
| title_sort |
guinea - opportunities for enhanced domestic revenue mobilization : value-added tax and excise taxes |
| publisher |
World Bank, Washington, DC |
| publishDate |
2019 |
| url |
http://documents.worldbank.org/curated/en/472021561614678154/Guinea-Opportunities-for-Enhanced-Domestic-Revenue-Mobilization-Value-Added-Tax-and-Excise-Taxes http://hdl.handle.net/10986/32023 |
| _version_ |
1764475578713374720 |