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International Monetary Fund. Fiscal Affairs Dept.

are part of the Benchmark as memo items, such as limitation to interest deductions and the higher tax rate on banks. ii) building TEs models : The mission delivered (i) a BPT model based on business-level tax return data in 2019; and (ii) a GST model based on the Supply and Use Tables (SUT) from the national accounts (using the latest available SUT data from 2014). Both TE models build on static microsimulation techniques and hence (beyond computing TEs) can help in simulating the direct revenue effects of hypothetical tax policy changes. Concrete examples are

International Monetary Fund. Fiscal Affairs Dept.
The Maldives has identified the estimation and regular reporting of tax expenditures (TEs) as one of the top priority areas in continuing its tax modernization process. TEs are alternative policy tools (e.g., to direct transfers and other spending measures) in the form of provisions in the tax legislation that modify the tax liability of individuals or companies. The cost of TEs should be identified, measured, and publicly reported to improve transparency in fiscal management.