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IMF Urges Sudan To Build On Fiscal Consolidation Progress

by Lorys Charalambous, Tax-News.com, Cyprus

02 January 2015


The International Monetary Fund (IMF) has advised Sudan to reduce tax exemptions and reform its gold-related taxation in order to build on recent gains in fiscal consolidation.

The Fund said that it would continue providing Sudan with technical assistance under the staff-monitored program to help the authorities improve gold taxation, streamline tax incentives, and enhance the efficiency of the tax system over the medium term. It said that the Sudanese Government is expected to adopt its recommendations in the 2015 Budget.

In its 2014 Article IV consultation report for Sudan the IMF said that the country should strive to achieve a zero primary fiscal balance in 2015 and a primary fiscal surplus of about one percent of gross domestic product (GDP) by 2019. This would put the ratio of the domestic public debt to GDP on a declining path, it said.

The report noted that Sudan's tax revenue in the second quarter of 2014 was higher than expected. It said that the Sudanese authorities aimed to raise total revenue to 10.9 percent of GDP in 2014 (against 9.2 percent of GDP in 2013).

In March 2014 a tax and customs reform committee was established in the country to review tax exemptions and the application of the value-added tax (VAT), and, more broadly, to improve tax policies and practices, the IMF said.

TAGS: tax | economics | tax incentives | fiscal policy | gross domestic product (GDP) | budget | International Monetary Fund (IMF) | Sudan | tax breaks | tax reform

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