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IMF Welcomes Fiscal Reforms In Estonia

by Ulrika Lomas, Tax-News.com, Brussels

22 October 2015


The International Monetary Fund (IMF) has welcomed Estonia's plan to gradually reduce labor taxes and said that the country has made commendable improvements in tax administration.

The IMF advised Estonia to consider adjusting its fiscal policy in the longer term to boost productivity-enhancing spending or accelerate labor tax cuts.

The Fund said that the fiscal surplus will likely decline to 0.25 percent of gross domestic product (GDP) this year. This is because the cost of labor tax cuts and increased welfare spending will exceed the extra revenues garnered from improving tax administration, it said.

TAGS: individuals | tax | economics | fiscal policy | gross domestic product (GDP) | employees | International Monetary Fund (IMF) | Estonia | tax reform

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