Value-Added Tax Boosted Tax Revenue in Asia, Pacific Countries

A surge in value-added taxes fueled an increase in tax revenue collected by countries in Asia and the Pacific, according to an OECD report.

The report, released Tuesday, found that taxes on goods and services made up half of all revenue collected from countries in the region in 2023.

Of that, VAT was the largest contributor among major tax types—accounting for 25.8% of total tax revenue, above the OECD average of around 20% in 2022.

• Revenue from personal income taxes made up 16.5% of total tax revenue on average in the region, according to the report, below the OECD ...