In the face of such uncertainty, countries need to build resilience. By creating state-of-the-art tax systems, countries can generate resources needed to tackle future challenges — and do so in an efficient and equitable manner. This, of course, requires a clear and comprehensive strategy that interlinks tax policy reform with revenue administration reform. We need revenue targets because these are essential goal posts that can help you align your revenues with your spending — both in the short term and the medium term. In some countries, tax reform also means making tax systems more progressive — by lifting the top marginal tax rate on personal income.

Source: The Star February 12, 2017 21:18 UTC