Tax Revenue Growth and Formalization: Republic of Kosovo

Author: Amanda Edwards, Ezgi O. Ozturk, and Selim Thaci

Volume/Issue: Volume 2023 Issue 026

Publication date: April 2023

ISBN: 9798400240225

$15.00

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Topics covered in this book

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Money and Monetary Policy , Public Finance , Taxation - General , International - Economics , tax revenue , formalization , informal economy , value-added taxes , corporate income taxes , personal income taxes , tax revenue growth , tax revenue increase , research assistance , VAT revenue , title page , IMF staff calculation , Tax administration core functions , Personal income tax , Effective tax rate , Value-added tax

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Summary

Among western Balkan countries, Kosovo had the largest growth in tax revenue in percent of GDP over 2021-22. While part of this strong performance could be explained by increased activity, surging inflation, and buoyance, a sizable part of it is related to increased formalization. This paper analyzes the extent to which tax revenue increases may have grown due to gains in formalization, both of workers and businesses, by applying a simple accounting framework to disentangle the sources of tax collection increases.