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IMF Urges Latvia To Shift Tax Burden To Property

by Ulrika Lomas, Tax-News.com, Brussels

09 May 2016


The International Monetary Fund (IMF) has commended Latvia for its plan to bring tax revenue up to a third of gross domestic product, adding that the tax burden should be shifted towards more efficient and growth-friendly taxation, including property taxation.

The IMF said that the authorities' current review of tax policies is an opportunity to make the tax regime equitable.

The IMF concluded that Latvia's plans to increase tax revenues will require "sustained efforts to improve tax compliance and public services."

TAGS: compliance | tax | economics | value added tax (VAT) | tax compliance | property tax | fiscal policy | gross domestic product (GDP) | International Monetary Fund (IMF) | Latvia | tax reform

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