- IMF urges countries to broaden the tax base, increase tax rates where applicable, reduce arbitrary exemptions.
- Lender seeks a predictable and progressive tax code, coupled with corporate income and property tax collection.
- IMF says strengthened tax collection capacity, integrity and accountability, including through digitalization, can yield significant revenues for countries.
A weakening demand across the world markets, lower prices of key commodities and tight financial markets are set to deal a body blow to economic growth in Africa in 2025. Faced with this uncertainty, the International Monetary Fund (IMF) is proposing a number of measures for policymakers including increasing taxes, labour reforms, and changes in the running of State-Owned Enterprises.
According to the International Monetary Fund (IMF) latest projections, Sub Saharan Africa’s growth is set to ease to 3.8 per cent this year before posting 4.2 per cent expansion next year. This reflects a downward revision of 0.4 percentage point …
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