The PCT’s Progress Report 2020 provides an overview of the co-operation between the International Monetary Fund, the Organisation for Economic Co-operation and Development, the United Nations, and the World Bank Group in the area of domestic resource mobilisation (DRM), including in their responses to COVID-19.
It highlights key activities carried out in developing countries in the areas of international taxation and medium-term revenue strategies (MTRS). The latter is of particular relevance to INFFs, presenting a comprehensive, country-led and whole-of-government approach for boosting tax revenues through tax system reform. So far, PCT partners have engaged 23 countries in discussing, formulating or implementing a MTRS – country updates can be found in the report.
Despite the challenges posed by COVID-19, the PCT quickly adapted to a virtual delivery system to support developing countries in building capacity to mobilise tax revenues. As countries focus on economic recovery and tax system reform in light of new medium-term expenditure goals, the MTRS approach will play a critical role in the PCT’s efforts to support tax system reforms post-crisis.
