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Guinea-Bissau To Reform Taxes With IMF Support

by Lorys Charalambous, Tax-News.com, Cyprus

07 May 2015


The International Monetary Fund may provide Guinea-Bissau with a three-year loan worth roughly USD23.9m to support a program of economic reforms, including measures to strengthen fiscal management.

Under the program, the country's tax authority would take actions to strengthen tax compliance, for example by increasing controls and inspections of large- and medium-size companies. The authorities would also take steps to broaden the tax base and review tax exemptions.

The loan is subject to the approval of the IMF Management and the Executive Board, with the process expected to be completed by early July.

TAGS: compliance | tax | economics | tax compliance | fiscal policy | budget | International Monetary Fund (IMF) | tax authority | Guinea | tax reform | Guinea-Bissau

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