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IMF Makes Tax Recommendations For Slovakia

by Tatiana Smolenskaya, Tax-News.com, Moscow

05 November 2015


The International Monetary Fund (IMF) has called on the Government of Slovakia to further cut the tax burden on labor, especially for low-income earners.

The IMF said a deeper cut to the tax burden for employers and employees would help to resolve concerns about high unemployment and inequality across different regions of the country.

It noted that Slovakia should broaden the tax base, potentially through the adoption of a market value-based real estate tax.

Noting the Government's plans to extend the 10 percent reduced rate of VAT to basic foods, the IMF highlighted that it will be important for the Government to ensure that this rate does not erode compliance levels.

TAGS: compliance | VAT rates | tax | value added tax (VAT) | tax compliance | tax avoidance | International Monetary Fund (IMF) | Slovakia | food | tax planning | tax rates | social security | tax reform | VAT compliance matters

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