IMF-增值税的效率方面（英）

Efficiency Aspects of the Value Added Tax Ruud de Mooij, Shafik Hebous, and Michael Keen WP/25/165 IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management. 2025 AUG * This is the draft of a chapter for the forthcoming IMF book The Changing World of VAT, edited by Andrew Okello, Artur Swistak,and Christophe Waerzeggers. We are grateful to the editors and to seminar participants at the IMF for valuable comments andsuggestions on earlier draft. © 2025 International Monetary Fund WP/25/165IMF Working Paper Fiscal Affairs Department Efficiency Aspects of the Value Added Tax Prepared by Ruud de Mooij*, Shafik Hebous* and Michael Keen** Authorized for distribution by Ruud de Mooij June 2025 IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management. ABSTRACT: This paper examines the efficiency of the Value Added Tax (VAT), focusing on its role as a revenue-raising tool and its use to achieve non-revenue objectives. The analysis highlights the VAT's potential ability to generate revenue with minimal distortions, emphasizing its advantages over alternative taxes, such as turnover taxes and tariffs, particularly in minimizing the cascading effects of input taxation. The paper also explores the VAT as a macroeconomic policy tool, especially in counter-cyclical fiscal policy, and its potential to address environmental and health objectives. It concludes that a well-designed and implemented VAT is a highly efficient revenue-raising tool, surpassing other forms of consumption taxation, but cautions against its misuse in industrial policy and other contexts for which it is ill-suited. RECOMMENDED CITATION: De Mooij, R., Hebous, S., and Keen, M. (2025). Efficiency Aspects of the Value Added Tax. IMF Working Paper WP/25/165. JEL Classification Numbers: H21 Keywords: Value Added Tax; Efficiency; Welfare Author’s E-Mail Address: rdemooij@imf.org, shebous@imf.org, mickjkeen@gmail.com * International Monetary Fund, Fiscal Affairs Department.** Tokyo College, University of Tokyo; Institute for Fiscal Studies, London; Centre d’Études et de Recherches sur le Développement International; Centre for Business Taxation, Oxford. Contents 1. Introduction ..................................................................................................................................................... 2 2. The VAT as an Efficient Revenue-Raiser ...................................................................................................... 2 2.1 Why Tax Consumption? ..............................................