CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. IMF Welcomes Czech Republic's Fiscal Plans

IMF Welcomes Czech Republic's Fiscal Plans

by Ulrika Lomas, Tax-News.com, Brussels

28 July 2015


The International Monetary Fund (IMF) has welcomed the Czech Republic's 2015 fiscal stance and urged the country to embark on a modest and very gradual fiscal consolidation in the medium term.

According to the Fund's 2015 Article IV consultation report for the Czech Republic, the Government's plan to keep the 2015 fiscal deficit just below two percent of gross domestic product (GDP) will support the country's economic recovery.

The IMF also said that the country's medium term fiscal objective is appropriate. The Government plans to implement gradual fiscal consolidation over 2016-18 with the aim of reducing the structural deficit to one percent of GDP in the medium term. The IMF said that this will put the debt ratio on a downward path while allowing adequate space for current fiscal priorities. It also said that reaching this objective would require only modest and very gradual fiscal consolidation beginning next year.

The report welcomed the authorities' efforts to strengthen tax administration through the introduction of electronic value-added tax reporting and electronic cash registers.

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

To see today's news, click here.

 
















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



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 »