FLASH
Shkruar nga Eduard Zaloshnja
The IMF requires that we be as rigorous as possible in collecting revenues, without offering preferential treatment to individuals or specific social groups...
The IMF mission's annual recommendations emphasize that revenue reforms should focus on modernizing property taxes and strengthening tax administration. Costly and regressive tax exemptions, such as high VAT exemption thresholds, sectoral incentives, and preferential regimes for the self-employed, should be phased out, as their effectiveness is uncertain.
Introducing a value-based property tax and accelerating its implementation will support local finances. Stronger enforcement supported by risk-based audits and digitalization remains essential for the full realization of revenues from the Medium-Term Revenue Strategy. Together, these measures have the potential to raise revenues by up to 2 percent of GDP by 2030.
The proposed 'Fiscal Peace' agreement, with elements such as voluntary agreements for the preliminary determination of taxable profits and the suspension of audits during the agreement period, the write-off of tax and customs liabilities, and the revaluation of past financial statements at a uniform low rate, risks undermining tax compliance, weakening the credibility of audits, and reversing the achievements to date in the modernization of tax administration.
In summary, the IMF requires that in revenue collection, we be as rigorous as possible, without providing preferential treatment to individuals or specific social groups. For budget expenditures, the IMF emphasizes that additional measures are needed to improve the quality of expenditures and fiscal transparency. Periodic expenditure reviews, institutionalized as a key budgetary tool and supported by clear governance structures within line ministries and the central budget process, will help identify low-priority programs and redirect resources to growth-enhancing areas, such as education, health, and infrastructure.
Broad-based bonuses to pensions should be avoided, as they are difficult to reverse, and weaken the link to contributions, jeopardizing fiscal sustainability. Instead, well-targeted social assistance programs should be used to support groups in need.
Regular monitoring of under-lending, PPPs, and off-balance sheet entities remains critical, along with stronger disclosure and governance standards for public funds and special purpose vehicles (SPVs). Aligning the publication of the fiscal risk statement with the budget cycle and its updates will further strengthen transparency. In summary, the IMF requires that we be as rigorous as possible in spending revenue, without providing preferential treatment to particular individuals or social groups.
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