Difference between tax elasticity and tax buoyancy
Answers
tax buoyancy:
The concepts of tax buoyancy or tax efficiency are used to measure the responsiveness of tax revenue to the economic growth. Tax buoyancy is a crude measure which does not distinguish between discretionary or automatic growth of revenue.
Tax Elasticity:
Elasticity is a preferred measure of tax responsiveness since it controls for automatic revenue changes. In which we study, the buoyancies or elasticities of the major taxes in a representative developing economy, the Ivory Coast, are estimated using the alternative estimation techniques or comparisons between buoyancies or elasticities are drawn. In general, tax receipts in the Ivory Coast tend to be slightly inelastic while particular taxes such as the value added tax are highly elastic. The results of the study have an important policy as well as research implications.
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