越南老挝柬埔寨对FDI的税收刺激（发）.pdf

Tax Incentives in Cambodia, Lao PDR, and Vietnam Prepared for the IMF Conference on Foreign Direct Investment: Opportunities and Challenges for Cambodia, Lao PDR and Vietnam Hanoi, Vietnam, August 16-17, 2002 Kevin Fletcher International Monetary Fund kfletcher2@imf.org The author would like to thank Thi Cuc Nguyen, Hao Nguyen, Chanpen Puckahtikom, Olaf Unteroberdoerster, and Howell Zee for useful comments and Erwin Tiongson for helpful research assistance. The usual disclaimer applies. 2 I. Introduction 3 II. Conceptual Issues 3 A. What are Tax Incentives? 4 B. Arguments For and Against Tax Incentives4 C. Types of Tax Incentives and their Relative Merits 6 III. Tax Incentives in Cambodia, Lao PDR, and Vietnam 8 IV. Evidence on the Effects of Tax Incentives 11 A. International Evidence 11 B. Estimated Effects in Cambodia, Lao PDR, and Vietnam 12 V. Conclusion 16 References17 Text Tables 1. Relative Pros and Cons of Different Types of Tax Incentives 7 2. Tax Incentives in Selected Southeast Asian Countries 9 3. Vietnam: Selected Tax Burdens by Sector, 2001 13 Figures 1. FDI in the Mekong Region, 1990-200014 2. FDI and Tax Incentives15 3. FDI and Standard Corporate Tax Rates15 3 I. INTRODUCTION A high rate of investment has long been viewed as a possible key to economic growth. Consequently, many countries offer special tax incentives to promote investment. These incentives include, for example, tax holidays for new firms, tax credits for new investments, and exemptions from import duties on inputs. Advocates of such incentives argue that they promote investment and