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Mr. Jack Calder

, may be subject to a special excise tax regime); or seen as requiring more specialist expertise than other industries or as presenting special administrative problems. This handbook is concerned mainly with administration of revenues from upstream operations; the taxation of downstream operations is considered only insofar as it is linked with the taxation of upstream operations. The special features and perceived difficulties of natural resource revenue administration can mean that it gets less attention than it deserves. Administrative reform, and

Mr. Jack Calder

The design and implementation of procedures for natural resource revenue administration should agree with best practices in general tax administration, whose main elements can be summarized as: Harmonized and streamlined legislation in a tax procedure code (TPC) covering registration, filing of returns, payment, arrears enforcement, interest, penalties, auditing, and dispute resolution; Separation of functions where necessary to safeguard integrity; Efficient and effective routine processing of registration, filing, and payment—with filing based on self

Mr. Jack Calder

Natural resource revenue administration takes place within a wider government policy and regulatory framework. This covers not just fiscal policy and regulation, but also natural resources management and industry policy and regulation, and (where relevant) commercial participation. In any particular country it is important to understand the nature of this wider framework. Where the finance ministry is wholly responsible for determining and implementing natural resource fiscal policy (as the IMF typically recommends), Table 3.1 sets out the likely framework

Mr. Jack Calder

Revenue administration clearly presents challenges to capacity. Natural resources are often found in developing economies, many of which struggle with routine clerical functions, let alone the difficult technical functions of mineral valuation and financial audit required for effective natural resource revenue administration. Multinational natural resource companies employ top lawyers, analysts, accountants, and tax specialists, some specifically tasked with reducing their tax bill. The imbalance in expertise between natural resource companies and revenue

Mr. Jack Calder

This chapter discusses governance and transparency of natural resource revenue administration , which must be considered in a broad context. Maximizing economic and social benefits from natural resource exploitation requires good governance and transparency across a wide range of government activity, not just tax administration. Natural resource companies and their host governments also need to play a part. The wider context is explained in the IMF’s Managing Natural Resource Wealth Topical Trust Fund (MNRW-TTF) program document (2010) and has references for

International Monetary Fund. Research Dept.

designed to meet appropriate policy objectives without creating unnecessary administrative complexity. It also provides a useful framework for both governments and their advisers to assess and strengthen resource revenue administration. $25. English. © 2014. 120 pp. Paperback. ISBN 9781475575170. Energy Subsidy Reform: Lessons and Implications edited by Benedict Clements, David Coady, Stefania Fabrizio, Sanjeev Gupta, Trevor Alleyne, and Carlo Sdralevich Energy subsidies have wide-ranging economic consequences. Although they are aimed at protecting

International Monetary Fund. Research Dept.
This issue of the IMF Research Bulletin opens with a letter from the new editor, Rabah Arezki. The Research Summaries are a "Primer on 'Global Liquidity'" (Eugenio Cerutti, Stijn Claessens, and Lev Ratnovski); and "Trade Integration adn Business Cycle Synchronization" (Kevin Cheng, Romain Duval, and Dulani Senevirante). The Q&A column looks at "Seven Questions on the Global Housing Markets" (Hites Ahir, Heedon Kang, and Prakash Loungani). September 2014 issue of the Bulletin also includes updates on IMF Working Papers, Staff Discussion Notes, and Recommended Readings from the IMF Bookstore, as well as special announcements on new staff publications and the Fifteenth Annual Jacques Polak Research Conference. Also included is information on the latest issue of “IMF Economic Review” with a link to an article by Paul Krugman.
International Monetary Fund. Research Dept.

This issue of the IMF Research Bulletin opens with a letter from the new editor, Rabah Arezki. The Research Summaries are a "Primer on 'Global Liquidity'" (Eugenio Cerutti, Stijn Claessens, and Lev Ratnovski); and "Trade Integration adn Business Cycle Synchronization" (Kevin Cheng, Romain Duval, and Dulani Senevirante). The Q&A column looks at "Seven Questions on the Global Housing Markets" (Hites Ahir, Heedon Kang, and Prakash Loungani). September 2014 issue of the Bulletin also includes updates on IMF Working Papers, Staff Discussion Notes, and Recommended Readings from the IMF Bookstore, as well as special announcements on new staff publications and the Fifteenth Annual Jacques Polak Research Conference. Also included is information on the latest issue of �IMF Economic Review� with a link to an article by Paul Krugman.