Journal of Governance Risk Management Compliance and Sustainability
Vol. 1 No. 2 (2021): October

Effectiveness of the Value Added Tax Exemption Policy on Gross Domestic Product in Selected ASEAN Countries Towards a Conducive Business Environment Model

Atty. Prackie Jay T. Acaylar (Technological Institute of the Philippines)

Article Info

Publish Date
31 Oct 2021

Abstract

Excessive exemption is detrimental to the effectiveness of the whole Value Added Tax system. This research is primarily focused on VAT exemption affecting the business industry as it influences the Gross Domestic Product of the three (3) selected ASEAN countries, namely, the Philippines, Indonesia, and Singapore. The result of the study showed a negative relationship between VAT exemption policy and GDP growth rate among the selected ASEAN economies. Although the VAT collections among the selected ASEAN countries are significantly increasing with the course of time, the results showed that as the number of VAT exemptions increases by one unit, the degree of growth of the GDP is expected to decrease at a rate of 0.900 units. Thus, a conducive business environment may be achieved by decreasing the number of VAT exemptions and, accordingly, increasing the GDP growth rate.

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Journal Info
Journal of Governance Risk Management Compliance and Sustainability
Website

Abbrev

jgrcs

Publisher

Research Synergy Foundation

Subject

Environmental Science Social Sciences Other

Description

The focus and scope of JRGCS are but not limited to Principles and theory of risk assessment and management, Risk assessment policy, standards and regulations, Risk-based decision making and risk management, decision making and decision support systems for risk and disaster management on regional ...