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gross domestic product (GDP) News

EU Publishes Tax-GDP Ratios For Member States

by Jason Gorringe,, London

Monday, November 28, 2016

The tax-to-GDP ratio in the European Union remained stable in 2015, while the ratio in the Eurozone was down slightly on the previous year. Read Full Story


Irish Economy To Receive Brexit Blow

by Jason Gorringe,, London

Tuesday, November 8, 2016

The UK's exit from the European Union will have a "severe" impact on the Irish economy, according to modeling published by the Irish Finance Department. Read Full Story


Seychelles Needs To Maintain Fiscal Discipline: IMF

by Lorys Charalambous,, Cyprus

Thursday, November 3, 2016

An International Monetary Fund staff mission concluded that Seychelles will require further measures to achieve its medium-term debt reduction target. Read Full Story


South Africa To Seek Additional Tax Revenue

by Lorys Charalambous,, Cyprus

Thursday, October 27, 2016

On October 26, during his parliamentary speech on the 2016 Medium Term Budget Policy Statement, South Africa's Minister of Finance, Pravin Gordhan, said the Government proposes to raise an additional ZAR43bn through tax measures over the next two fiscal years. Read Full Story


NZ Introduces 'Netflix' Tax On Electronic Services

by Mike Godfrey,, Washington

Wednesday, October 5, 2016

Cross-border purchases by New Zealand residents of certain electronically supplied services became subject to goods and services tax on October 1, 2016. Read Full Story


Guatemala Urged To Widen Tax Base

by Mike Godfrey,, Washington

Thursday, September 8, 2016

Guatemala needs to raise fiscal revenues to at least 15 percent of gross domestic product in the longer term to accommodate higher social and infrastructure spending, and to support efforts to reduce crime and corruption, the International Monetary Fund has said. Read Full Story


Moody's Welcomes Egyptian VAT

by Lorys Charalambous,, Cyprus

Tuesday, September 6, 2016

Credit ratings agency Moody's Investors Service has said Egypt's new value-added tax will help close a sizable gap in government finances. Read Full Story


Costa Rica Considers Anti-Tax Evasion Bill

by Mike Godfrey,, Washington

Monday, August 29, 2016

A bill containing measures to combat tax evasion is close to being endorsed by Costa Rica's legislature, according to the country's Ministry of Finance. Read Full Story


UK's Trade Options Limited After Brexit

by Amanda Banks,, London

Friday, August 12, 2016

A new report by the Institute for Fiscal Studies on the impact of the UK's decision to leave the European Union has emphasized that that "membership of" the single market is entirely different to "access to" it. Read Full Story


Spain, Portugal Given Extra Time To Correct Deficits

by Ulrika Lomas,, Brussels

Thursday, August 11, 2016

The European Council has canceled fines for Spain and Portugal for breaching excessive deficit rules, and set new "fiscal paths" for each to follow. Read Full Story



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