Costa Rica Should Approve Tax Reform

Those were the words of the International Monetary Fund after assessing the national economy.

Tuesday, August 25, 2009

To maintain the current levels of public investment, the Government requires levels of income of 2% of the GDP.

Nacion.com published a fragment of the IMF communique: "It would be convenient to achieve, as soon as possible, a consensus regarding the need to increase income, thus guaranteeing a quick discussion and approval, without delays, of a tax reform".

More on this topic

Guatemala's Fiscal Fragility

August 2013

The International Monetary Fund is warning that adjustments are needed in order to increase tax revenues and reduce the state's fiscal deficit.

They note that "... the tax reform passed in 2012, which came into effect on January 1 this year, broadens the tax base and gives the government more tools to enforce fiscal and supervisory controls and eliminates tax exemptions and reduces corporate tax rates," noted an article in S21.com.gt.

Fusades Demands Comprehensive Solution to the Fiscal Problem

December 2011

The Salvadoran Foundation Fusades has warned that if tax reforms are not accompanied by cuts in public spending they will have a negative impact on employment and investment.

A press release from the Salvadoran Foundation for Economic and Social Development reads:

The fiscal situation is critical and unsustainable.

Nicaragua: Analysis for a Tax Reform

February 2010

Funides, the Nicaraguan Foundation for Economic and Social Development, published a document called “Discussion on Nicaragua’s Tax Reform”.

The study comprises various sections. Funides starts by making a brief history of the country’s public finances, and discusses the basis for a healthy tax system. It analyzes the road ahead and proposes topics to be considered before deciding the scope of a tax reform.

Panama to Approve Tax Reform in 2009

May 2009

Among the main reforms that the tax system is looking to simplify is the elimination of alternative income tax calculation.

The new income tax rate that will be applied has yet to be defined.

Prensa.com reflected the statements of the new Economy and Finance Minister, Alberto Vallarino: "I am a believer in low taxes because they help in collection, especially in countries where we do not have a culture of paying taxes, which is a reality not only in Panama, but in every Latin American country."

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