Philippines’ tax effort increased in 2022
The Philippines’ tax effort expanded to 18.4% in 2022, according to the by the (OECD). Tax effort refers to total tax revenue, including social security contributions, as a share of an economy’s gross domestic product (GDP). The country’s tax effort remained below the Asia and the Pacific average of 19.3%. The bulk of the Philippines’ tax revenue came from taxes on goods and services (43.8%), followed by taxes on income and profits at 33.3%.
