The Estonian Finance Ministry predicts that the planned lowering of the personal income tax rate and increase in tax-exempt income will cause
Published:
4 August 2003 y., Monday
The Estonian Finance Ministry predicts that the planned lowering of the personal income tax rate and increase in tax-exempt income will cause
annual income tax revenues to decline by 1.35-3.97 billion kroons (EUR 86.26-253.67 mln) in the 2004-2007 period.
The coalition agreement of Res Publica, the Reform Party and the People's Union for the 2003-2007 period stipulates that revenue intake after lowering of the income tax rate should not affect the income of local
self-governments. Although the planned tax reform will reduce the state's annual revenue from the personal income tax by four billion kroons (EUR 256 mln) by 2007, the Estonian Finance Ministry doesn't see this as
a gap, because no area will be directly threatened.
Although strong domestic demand has supported the relatively rapid growth of the Estonian economy, the present level of the current account shortfall is very high and indicates increased vulnerability of the economy, the Finance Ministry finds.
"We expect the current account gap to narrow in the second half of the year provided the anticipated recovery of economies of our principal trade partners gives a boost to our export growth," the ministry's
analyst Erki Lohmuste said in a comment on the record current account deficit in the first quarter.
Šaltinis:
web-static.vm.ee
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The EBRD is increasing the availability of financing to the real economy in Hungary, with a €50 million credit line to CIB Bank, including at least €10 million equivalent denominated in Hungarian Forint.
more »
At the end of March 2010, AB Bank SNORAS deposit portfolio exceeded LTL 5 billion, of which over LTL 3 billion are household deposits.
more »
In affirmation of Vietnam’s remarkable progress towards Middle Income Country status, the World Bank Board of Directors today approved a second loan for Vietnam from the International Bank of Reconstruction and Development (IBRD).
more »
The World Bank today approved a EUR26 million loan to the Republic of Croatia aimed at further improving the efficiency of Croatia’s justice system − a necessary process in Croatia’s path towards successful European Union accession.
more »
The ACP-EU Joint Parliamentary Assembly asked the European Commission to help EU and ACP banana producers adapt to the new EU-Latin America trade agreement, which is expected to put an end to fifteen years of “banana wars” between the two continents, but has raised concerns for the livelihood of some regions' producers.
more »
As seventeen of Africa’s 53 nations celebrate 50 years of independence in 2010, Africa’s “golden moment has come” and investors around the globe must look to the continent often painted only as risk-prone if they are to capitalize on business opportunities.
more »
During the ordinary general shareholders’ meeting of AB Bank SNORAS, which took place on 31st March 2010, the bank’s profit distribution was approved.
more »
The EU is the world's largest economy, with enough international clout to return to "real capitalism" rather than resign itself to an alien "financial capitalism", concluded MEPs and experts at a public hearing held on Thursday by Parliament's special committee on the crisis.
more »
Food quality and labelling are likely to be key issues when the Common Agriculture Policy is overhauled in the coming years.
more »
The European Investment Bank (EIB) is lending EUR 250 million to Russian company Enel OGK-5 to finance the upgrading of a gas fired power plant located in Nevinnomyssk, South Russia.
more »