international monetary fund tagged posts

Greek Bailout Could Be Finalized Today

February 19, 2012 International Tax Cooperation

Greek Bailout Could Be Finalized TodayBRUSSELLS – Greece will need to make even greater efforts to reduce its debts and commit to its austerity plans, if the government hopes to secure a EUR 130 billion bailout from the EU and the International Monetary Fund.

A meeting between the Prime Minister of Greece Lucas Papademos and leaders of 17 countries of the European Union to discuss the conditions of the new bailout for Greece is set to take place in Brussels today, on February 20th.

The bailout currently being debated is worth approximately EUR 130 billion in payments from the International Monetary Fund and the European Union, and was tentatively agreed to in October 2011...

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IMF Urges Mining Tax Expansion

September 30, 2010 Taxation in Australia

on the inside the rigs still pileThe International Monetary Fund has praised Australia for its plans to implement a tax on the extraction of national mineral resources, however it has also stated that the levy needs to be broadened across the mining and resource industry.

On September 30th an early draft of an International Monetary Fund (IMF) report on the Australian economy was made available. The publication showed that the IMF was generally pleased with the Australian Government’s current economic and fiscal direction, however it did raise some concerns about the current implementation of tax measures for the mining sector.

The IMF report stated that the new Minerals Resource Rent Tax (MRRT) system was only a “…step in the right direction...

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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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US Banks Recovering But Still Fragile

August 2, 2010 International Tax CooperationTaxation in USA

Twenties on WhiteThe US Government’s policy response to the 2008 financial market meltdown have counteracted the weaknesses within the banking system, but “pockets of fragility” still remain, which need to be addressed rapidly to mitigate further risks and Government costs.

The Financial System Stability Assessment report, prepared by the International Monetary Fund (IMF), was released on July 30th, and aimed to inspect the overall “soundness” of the banking and financial sector, judge the effectiveness of banks in upholding international risk standards, and evaluate the policies and safety nets instated for the industry. The Financial Sector Assessment Program (FSAP), the International Monetary Fund (IMF) division responsible for the report, also conducted bank stress tests, which aimed to evalu...

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Hungary Under Critisism For Tax Plans

July 22, 2010 Taxation in Hungary

EPP Sumiit 15 May 2006The Government of Hungary is receiving widespread criticisms and warnings that its current budgetary plans are unbalanced, inefficient, and will likely lead to lower tax revenues.

The International Monetary Fund (IMF), the European Union (EU), and the national Fiscal Council have all criticized Prime Minister Viktor Orban’s budgetary plan, claiming it could result in an overall revenue fall of HUF 200 billion (approx. USD 897 million).

The key issue surrounding the disagreement is the method by which Hungary will attempt to lower its budget deficit. The Government intends to instate a new special financial services tax throughout 2010 and 2011, which the Prime Minister believes could earn HUF 200 billion per year. However, in a statement issued this week, the Fiscal Council claimed that ...

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