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
New rules for the EU's single market will make it easier to live and do business anywhere in Europe.
more »
MEPs were disappointed that the Commission's EU budget review document had not sought the radical revision that the EU needs, they told Budgets Commissioner Janusz Lewandowski in a Policy Challenges Committee debate on Thursday.
more »
On 25 October, the Commission adopted the decision to financially support the 2011 electoral process in the Central African Republic.
more »
New EU framework for crisis management in the financial sector for managing problems before they spiral out of control.
more »
The financial crisis laid bare the limits of self-regulation, demonstrating the need for strong EU economic governance, surveillance and policy co-ordination, say two non-legislative resolutions voted by Parliament on Wednesday.
more »
The European Commission has approved an application from Germany for assistance from the European Globalisation adjustment Fund (EGF).
more »
Global and EU- level taxes on financial sector would help to fund international challenges such as development or climate change and fix the fallout from the global economic crisis.
more »
The European Investment Bank and African Development Bank today agreed to provide EUR 45m to design, build and operate onshore wind farms on four islands in the Cape Verde archipelago.
more »
MEPs want future EU budgets to accommodate new policy priorities as well as negotiations on new sources of financing.
more »
The European Parliament's Budgets Committee on Monday backed EU funding for 3,731 workers in Portugal, the Netherlands, Spain and Denmark who were made redundant due to the closure of their companies.
more »