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
According to the data presented by the Ministry of Finance, in end-January central government debt made up LTL26, 310.8 million or 28% of projected GDP for 2010 (LTL 93, 819 million).
more »
As far as countries affected by the economic crisis, China fared extremely well.
more »
The European Commission has authorised today a Slovak scheme with a budget of approximately €3.32 million which aims at supporting farmers in Slovakia who encounter difficulties as a result of the current economic crisis.
more »
Commission sets out a 10-year strategy for reviving the European economy, casting a vision of ‘smart, sustainable, inclusive' growth rooted in greater coordination of national and European policy.
more »
The European Commission has launched today the Europe 2020 Strategy to go out of the crisis and prepare EU economy for the next decade. The Commission identifies three key drivers for growth, to be implemented through concrete actions at EU and national levels.
more »
Launching of the “SCHOOLS’ initiative for innovation and changes” Grant scheme.
more »
EU Member States must not only deliver on their international aid pledges, but also bring in a financial transactions tax and a temporary debt moratorium, to help developing countries to cope with the effects of the global financial and economic crisis, said the Development Committee on Monday.
more »
The EBRD is increasing its commitments to promote sustainable energy projects in Slovakia with a new €90 million funding under the existing Slovakia Sustainable Energy Finance Facility (SLOVSEFF) to ensure continuous implementation of energy efficiency and small renewable energy projects.
more »
According to the unaudited data, in 2009 AB Bank SNORAS earned LTL 8.7 million profit. The bank’s assets grew by 11 per cent up to LTL 6.342 billion during 2009 and were by LTL 647.8 million larger than at the beginning of 2009.
more »
Aviation security measures that go beyond common EU requirements should be paid for by Member States, not by passengers, said Transport Committee MEPs in a vote on Monday that could put Parliament on a collision course with the Council of Ministers.
more »