Luxembourg: Selected Issues

Luxembourg: Selected Issues

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This Selected Issues Paper analyzes the fiscal position and significant challenges for Luxembourg. Luxembourga€™s fiscal position is currently sound, however, fiscal safety buffers are being eroded. The countrya€™s healthy fiscal position will be challenged by forthcoming revenue losses as well as rapid trend growth in expenditures. An overall strategy to address this coming deterioration is needed. Beyond the planned value-added tax increase, recurrent property taxes are a possible additional source of revenue. On expenditures, social benefits should be an area of focus, and reforms of these benefits should also aim to reduce disincentives to work.The aim is to increase the share of take-home income related to activity. The existing earned income tax credit, currently minimal, could also be redesigned so as to drive a larger wedge ... Marginal Effective Tax Rates for Recipients of Social Assistance, 2011 11 See also the Selected Issues Paper: a€œThe Residential Real.

Title:Luxembourg: Selected Issues
Author: International Monetary Fund. European Dept.
Publisher:International Monetary Fund - 2014-05-09

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