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Costa Rica legislators put fiscal reform on fast track

Wednesday, September 28, 2011

Costa Rican legislators approved fast-track status for a fiscal reform proposed by the president, Laura Chinchilla.

The country needs a fiscal reform in order to reduce a a public-sector deficit that last year amounted to 5.3 percent of the gross domestic product.

The fiscal plan seeks to change a sales tax of 13 percent into a broader value-added tax of 14 percent. The proposal also includes a 2 percent tax on private education and medical services.

Original source (in Spanish): Reuters