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IMF Urges Slovenia To Overhaul Property Tax

by Ulrika Lomas, Tax-News.com, Brussels

20 February 2015


The International Monetary Fund (IMF) has advised Slovenia to implement a number of revenue-raising reforms, including an overhaul of the property tax system.

The Fund said in its Article IV consultation report with Slovenia that the country needs to reduce its deficit by 0.25 percent of gross domestic product (GDP) per year over the period 2016 to 2019 to make its finances more sustainable.

Redesigning and adopting a real-estate tax next year would boost revenues and improve the fairness of the tax regime by shifting the tax burden towards accumulated wealth, the IMF said.

The IMF recommended that Slovenia should review tax expenditures and loopholes to address erosion of the nation's tax base. It said income tax exemptions should be revisited when the economy recovers, and it recommended removing tax distortions that favor debt financing over equity financing.

TAGS: tax | economics | Slovenia | property tax | fiscal policy | real-estate | gross domestic product (GDP) | International Monetary Fund (IMF) | tax reform

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