BALI, 5 October 2018 – The four partner organizations to the Platform for Collaboration on Tax (PCT) discussed critical challenges and opportunities for mobilizing domestic resources to meet countries’ development priorities, at the IMF-World Bank annual meetings in Bali, Indonesia.
The four organizations include the IMF, OECD, the United Nations, and World Bank Group. In an event on Tuesday October 9th titled “Stepping up to the Challenges on Domestic Resource Mobilization – the Power of Cooperation”, the principals of the PCT addressed the challenges that countries face to mobilize taxes and other domestic resources for meeting their development goals.
Strengthening tax systems – policy and administration – is a key development priority, and a core part of the Sustainable Development Goals (SDG) framework and the Addis Ababa Action Agenda. Together they set a challenge to raise significant additional tax revenues, in fair and efficient ways.
In 2016 the IMF, the OECD, the United Nations and the World Bank Group, the leading international actors on tax, created the Platform for Collaboration on Tax (PCT), as a central vehicle for their enhanced cooperation, enabling the development of common approaches, the delivery of joint outputs, and as a response to demands for a global dialogue on tax matters.
The four PCT partners each support country-led efforts through policy dialogue, technical assistance and capacity building, knowledge creation and dissemination, and input into the design and implementation of standards for international tax matters. The PCT also produces guidance and tools on key issues of capacity building and international taxation, and has developed the Medium-Term Revenue Strategy, which is an approach for coordinated and sustained support to comprehensive country-led tax reform.
The event, which was open to all registered participants of the 2018 IMF-World Bank Group annual meetings, was an opportunity to hear from senior officials of the Platform organizations, who discussed progress made, plans, and the challenges facing the international tax landscape, particularly in an increasingly digital economy.
Watch the replay video here.