![]() ![]() ![]() ![]() Similar reforms have been under consideration in Belarus, Georgia, Guatemala, the Kyrgyz Republic, El Salvador, Paraguay, and Poland. Ukraine and Slovakia have adopted “flat taxes”-meaning personal income tax structures with a single positive marginal tax rate, set at a relatively low level-at 12 and 19 percent respectively. Such a strong revenue performance following a marked reduction of marginal tax rates quickly attracted attention, and emulation, both in the countries of the former Soviet Union and, more recently, elsewhere. As a percentage of GDP, PIT revenues increased by nearly one-fifth. 2 Over the next year, revenue from the personal income tax (PIT) increased by about 46 percent: about 26 percent in real terms. At the start of 2001, Russia unified its marginal rates of personal income taxation-previously at 12, 20, and 30 percent-at the flat rate of just 13 percent. ![]()
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