IMF Recommends Tax-Boosting Reforms For Nicaragua
by Mike Godfrey, Tax-News.com, Washington
08 May 2017
Nicaragua should focus on broadening the country's tax base and further strengthening tax administration, the International Monetary Fund (IMF) has said.
The IMF said that the country also needs to introduce further legislation covering international taxation, to respond to the OECD's base erosion and profit shifting Action Plan and to transfer mispricing.
It added that advances in tax administration and the implementation of tax reform measures announced in 2012 had boosted revenues by 0.6 percent of gross domestic product in 2016. Looking ahead, it said additional fiscal consolidation needed to address the country's current challenges could be obtained by eliminating tax expenditures, and rationalizing and better targeting subsidies.
To see today's news, click here.
Tax-News Reviews
A review and forecast of Cyprus's international business, legal and investment climate.
A review and forecast of Malta's international business, legal and investment climate.
A review and forecast of Jersey's international business, legal and investment climate.
A review of the latest budget news and government financial statements from around the world.
Stay Updated
Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.
By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.
To manage your mailing list preferences, please click here »
Network Blogs and Features
- fail to prepare and prepare to fail »
- Tax efficiency of an Irish Holding company »
- 5 Tips to Open a Business Bank Account in Hong Kong »
- Recent Amendments To Maltese Labour Legislation »
- Can the 'Microyacht' Beat the new Superyacht? »
- How to profit from property without buying bricks and mortar »
- Requirement to Correct (RTC) UK Tax Liabilities »
- paying through the nose »
- Expat Tax Schemes - Denmark Focus »
- Who needs enemies when you've got friends »