EU: Plans for digital single market published by European Commission
On 6 May 2015 the European Commission published a document entitled “A Digital Single Market Strategy for Europe” outlining a plan for coordinated action to take advantage of opportunities for innovation, growth and jobs brought about by the
See MoreFrance: IMF comments on fiscal policy
The International Monetary Fund (IMF) issued a concluding statement on 19 May 2015 following its regular discussions with France under Article IV of the IMF’s articles of agreement. The IMF considers that although France is making a solid
See MoreCzech Republic: IMF comments on economic and fiscal position
The International Monetary Fund (IMF) issued a press release on 20 May 2015 containing a concluding statement after a visit by staff to the Czech Republic for discussions under Article IV of its articles of association. The economy of the Czech
See MorePoland: IMF discusses economic and fiscal position
The International Monetary Fund (IMF) issued a press release on 18 May 2015 containing the concluding statement at the end of discussions in Poland under Article IV of its articles of association. Poland’s economic growth reached 3.5% in the
See MoreUK: Government to deliver second budget for 2015
The UK government has indicated that a second set of budget proposals will be announced on 8 July 2015. This follows the recent election of 7 May 2015. The budget would clarify the expected government expenditure reductions and how they are to be
See MoreKyrgyz Republic: Memorandum sets out economic and financial policies for 2015 to 2018
In connection with a request for IMF support the Kyrgyz Republic has issued a memorandum setting out the economic and financial policies for 2015 to 2018. This includes the aim of reducing the operational balance by increasing tax revenues and
See MoreUganda: IMF holds discussions on economic and fiscal policy
The International Monetary Fund (IMF) issued a press release on 14 May 2015 at the end of a visit to Uganda for discussions under Article IV of the IMF’s articles of agreement and in connection with the fourth Policy Support Instrument (PSI)
See MoreWorld Bank publishes report on steps to a carbon future
A World Bank report entitled “Decarbonizing Development: Three Steps to a Zero Carbon Future” sets out the steps in a transition to a zero carbon future with data, examples and policy advice. The steps involved are firstly planning for the
See MoreLebanon: IMF comments on economic and fiscal policy
The International Monetary Fund (IMF) has held consultations with Lebanon under Article IV of its articles of agreement. A press release was issued on 14 May 2015 summarizing the discussions and IMF recommendations. The short term economic outlook
See MoreLuxembourg: IMF comments on economic and fiscal policy
The International Monetary Fund (IMF) has held consultations with Luxembourg under Article IV of its articles of agreement and issued a press release on 13 May 2015. Economic growth in Luxembourg was close to 3% in 2014 partly owing to buoyant
See MoreBosnia: IMF comments on economic and fiscal policy
The International Monetary Fund (IMF) has issued a concluding statement following a staff visit to Bosnia and Herzegovina for consultations under Article IV of the IMF’s articles of agreement. Although Bosnia’s economic recovery was interrupted
See MoreAustralia: Budget for 2015-2016 Includes BEPS Measures and Exposure Drafts for a New Targeted Anti-Avoidance Rule
The Government of Australia announced the 2015-2016 fiscal budget on May 12, 2015. Australia has included in the budget a country-by-country reporting requirement following the recommendation in the OECD/G20 action plan on base erosion and profit
See MoreDenmark: Parliament Enacts Law to Combat Tax Evasion
The Danish parliament has adopted a law proposal (L 167) that includes some of the measures agreed on in the package of proposals to combat tax evasion. The law covers the following measures: The control of foreign trusts is improved in order
See MoreThailand: IMF comments on economic and fiscal position
On 7 May 2015 the International Monetary Fund (IMF) issued a staff report resulting from consultations with officials in Thailand under Article IV of the IMF's articles of agreement. Thailand’s growth rate has fallen behind those of its
See MoreCroatia: IMF reports on economic and fiscal policy
The International Monetary Fund (IMF) has issued a concluding statement of preliminary findings following consultations with Croatia under Article IV of its articles of agreement. In 2015 Croatia’s economy is expected to grow for the first time in
See MoreSri Lanka: IMF comments on economic and fiscal policy
The IMF has concluded the third Post Program Monitoring discussion with Sri Lanka and issued a press release on 5 May 2015 summarizing its findings. Sri Lanka’s GDP growth was 7.4% in2014 and is estimated to be 6.5% in 2015 and later years.
See MoreHong Kong: Government Continues Anti-Tax Evasion Measures
The Hong Kong Monetary Authority (HKMA) and the relevant enforcement authorities will continue to monitor closely measures to combat money laundering and tax evasion, the Secretary for Financial Services and the Treasury, K C Chan has
See MoreIMF Publishes Working Paper on Tax Policy in MENA Countries
A working paper issued by the International Monetary Fund (IMF) looks at taxation trends in the countries of the Middle East and North Africa in the period from 1990 to 2012, focusing on non-resource taxes. Revenues from these taxes have slightly
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