Asia's rising taxes

Tax rises to continue as Asia tightens its belt

Asian policymakers will increase indirect taxes and focus on more effective revenue collection, according to Ernst & Young.

Countries in Asia-Pacific are likely to continue raising indirect taxes this year as they tighten fiscal policies. At the same time, they will target tax incentives more narrowly to attract inbound investment and nurture domestic industries, according to a report released last week by Ernst Young.

Tax cuts and spending increases introduced in response to the 2009 global recession have slowly given way to policies of fiscal consolidation, emphasising higher tax collections and modest spending initiatives.

“Most Asia-Pacific nations entered 2012 continuing the prudent tax and fiscal policies that have helped make them preferred destinations for investment capital,” said the authors of the paper, entitled Tax...

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