Consumption Tax tagged posts

Policy Changes Needed For Eastern Europe

August 12, 2010 International Tax CooperationTaxation in EU

International Monetary Fund [oct 25]Eastern European Governments will need to adopt new fiscal policy strategies in the near future, to adequately deal with a reduction in economic growth and a post-crisis international economic environment.

The International Monetary Fund (IMF) has projected overall economic growth of approximately 3.3 percent for the countries of Eastern Europe in 2010, with a notable increase in all stability measures. However, according to Bas B. Bakker and Anne-Marie Gulde of the IMF European Department, Governments will need to embrace the fact that in the near future they will not experience pre-crisis levels of economic prosperity.

To sustainable growth, fiscal policies need to be implemented to discourage excessive imports and domestic spending...

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St. Kitts and Nevis Releases VAT White Paper

April 23, 2010 Taxation in St. Kitts and Nevis

St. Kitts & Nevis FlagThe Government of St. Kitts and Nevis has released a white paper for public consultation on its intention to introduce Value Added Tax (VAT) in 2010.

On April 21st the Government of St. Kitts and Nevis released a detailed white paper outlining its full intention to replace a number of existing national taxes with a single unified VAT. The paper, which received Cabinet approval on April 19th, is intended to familiarize national taxpayers with the proposed rules. The white paper also signals the beginning of a 30 day consultation process on the suggested VAT system. Pending submissions for changes to the proposed VAT rules, two more readings of the paper will be held with corresponding consultations, followed by a final publication and passage into law. The St...

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