RED 2025. Chapter 5: Subnational government revenues: The role of taxes and transfers
Resumen
This chapter examines the revenue structure of subnational governments in Latin America and the Caribbean, where, on average, 58% comes from transfers and 42% from own resources. The importance of funding with own resources for the quality of spending is highlighted, and the disparity in local revenues is addressed, proposing tax reforms to enhance collection. The role of transfers in reducing inequalities and the need to strengthen their redistributive component are discussed. Governance of natural resources to promote the extraction of critical minerals and hydrocarbons in the region is also analyzed.
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