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International Monetary Fund. External Relations Dept.

its own money into these ventures. A prime objective of IICY will be to bring into Yugoslavia modern techniques and production and management know-how. It will help to organize new enterprises, or expand existing ones, in fields including industrialization, service projects, including agriculture and tourism, and extractive enterprises. It will back promotional and pilot operations, help identify and select projects, bring partners together, and assist in financial planning and arrangements. It will also invest its own capital and borrow funds to make loans to

Mr. James L. Smith
This paper provides a conceptual overview of economists’ attempts to learn about the effects of taxes on extractive resources. The emphasis is on research methods and techniques, with no attempt to provide a comprehensive tabulation of previous empirical results or policy conclusions regarding preferred tax instruments or systems. We argue, in fact, that the nature of such conclusions largely depends on the researcher’s choice of modeling framework. Many alternative frameworks and approaches have been developed in the literature. Our goal is to describe the differences among them and to note their strengths and limitations.
Daniel, Philip

of the operations of extractive enterprises, such as those that arise from cross-border infrastructure or joint developments in disputed maritime zones. In focusing on these issues, this book complements both Daniel, Keen and McPherson (2010) , which focuses mainly on domestic aspects of fiscal regime design, and Calder (2014) , which focuses on administrative issues. As there, the present book mainly takes the perspective of resource-producing emerging-market and developing countries. That is where the international tax challenges for the extractive sector

International Monetary Fund

or more EITI reports. This last criterion was to ensure that national revenue streams from extractive enterprises and data for them were available in the selected field-test countries. Based on these criteria Indonesia, Kazakhstan, Mongolia, Norway, Peru, and Zambia were selected. 8 12. All national revenue streams in the six field-test countries were linked to the standard template’s GFSM 2014 -based revenue categories and sub-categories . After agreement was reached on participation with the respective National EITI Commissions, meetings were held with the

International Monetary Fund
The paper presents an update on the status of the standard template to collect data on government revenues from natural resources, originally presented to the Executive Board in January 2014. The paper discusses: (i) the field-testing of the standard template in six countries, which confirmed the feasibility of applying it more broadly; (ii) the final version of the template based on outcomes of consultation with the international community and the field-testing visits; and (iii) the adoption of the template by the Extractive Industries Transparency Initiative (EITI) International Secretariat as a mandatory reporting requirement for its member countries. The standard template serves as a companion to the Guide to Analyze Natural Resources in the National Accounts. The standard template was developed to support fiscal policy formulation and analysis in resource-rich economies, which constitute about one third of the Fund’s membership. The standard template is based on the revenue classification of the Government Finance Statistics Manual 2014, thereby facilitating the collection of resource revenue data in methodologically sound, analytically relevant, and cross-country comparable format.
George B. Baldwin

country benefits from employment and, especially, from large foreign exchange earnings and tax payments. These benefits stem entirely from the country’s good fortune in having a natural resource wanted by world markets. Initially these extractive enterprises are “enclave industries,” islands of activity only weakly connected to the rest of the economy except for their financial contribution. It is in this class of industry that the Eskimos are likely to get their start—in Arctic oil or the iron mines of Labrador and Northern Quebec. The most fundamental common

Mr. James L. Smith

potential for tax avoidance within the limits of the law and subject to the physical and economic constraints that define the extractive enterprise. Along these two dimensions (incorporating potential tax avoidance and accounting for the extractive nature of production) is where research methods and models tend to differ. II. Literature Review Any attempt to assess the impacts of extractive resource taxation must draw from two literatures: the economic theory of extractive industries and the theory of optimal taxation. This paper reviews the contributions of many