Revenue Statistics in Asia and the Pacific 2022 provides harmonised data on tax revenues for 28 economies in the region, including Bangladesh, Cambodia, Kyrgyzstan and Pakistan for the first time. The report reveals that the average tax-to-GDP ratio in the Asia-Pacific region was lower than the averages for the OECD and Latin America and the Caribbean (LAC). Between 2019 and 2020, tax-to-GDP ratios fell in 19 of the 26 economies for which 2020 data are available. to 33.5% between 2019 and 2020 while the average tax-to-GDP ratio in the LAC region declined by -0.8 p.p. On average, taxes on goods and services accounted for 50.6% of total tax revenues in the Asia-Pacific region in 2020.

Source: The Nation Bangkok July 26, 2022 06:04 UTC