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Denmark Should Lower Tax Burden, Says IMF

by Ulrika Lomas, Tax-News.com, Brussels

26 June 2017


Denmark should lower taxes to complement labor market reforms, the International Monetary Fund (IMF) has said.

But the IMF said that there was increasing resistance to such measures following the major reforms in recent years, which have include plans to lower income taxes.

Elsewhere the fund criticized elements of the country's recently agreed reforms to remove the property tax freeze and increase it in line with house prices.

It said that the decision to protect homeowners from tax increases while they occupy their home by allowing them to defer payment of tax increases after 2021 until the home is sold could discourage mobility in the housing market.

The IMF said that another feature which enables future property tax revenues above an expected structural target to be used to lower tax rates would link the market to the economic fluctuation that the legislation was designed to avoid.

Meanwhile, introducing an incremental Allowance for Corporate Equity (ACE) would reduce the debt bias in the tax system and incentivize corporate investment, the IMF said.

TAGS: tax | investment | Denmark | property tax | International Monetary Fund (IMF) | legislation | tax rates

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