Philippines’ tax effort fell in 2023
Tax effort in the Philippines dipped to 17.9% in 2023, the latest data from the Revenue Statistics in Asia and the Pacific by the Organisation for Economic Co-operation and Development (OECD) showed. This was still below the Asia and the Pacific average of 19.6%. The bulk of the Philippines’ tax revenue for that year came from taxes on goods and services (41.3%), followed by taxes on income and profits (35.3%) and social security (15.6%). Tax effort refers to total tax revenue, including social security contributions, as a share of an economy’s gross domestic product (GDP).
