The IMF will seek to simplify EU tax regulations

The International Monetary Fund (IMF) expressed its support for a reform of the fiscal rules of the European Union that contributes to reducing their complexity and overlap with national regulations, thus facilitating compliance with them.

“We have promoted a reform of the EU fiscal rules because they are extremely complex and we have asked for them to be simpler, which would make it easier to monitor and apply them“, said Alfred Kammer, director of the IMF’s European Department.

In this sense, the official pointed out that sometimes these European tax regulations overlap with national rules and give rise to inconsistencies, “which has led to a lot of discretion as to how to apply them, causing the main objective of making more fiscal policies not to be met. strict during the growing season to create buffers with which to face the toughest of times. “

Likewise, Kramer recalled that as of 2023 the fiscal policy of European countries “must be consolidated” to place the debt on a downward trajectory and for this the rules will be essential.

Source: dpa