The new VAT Act: A compromise outcome - I

In the FY2019/20 budget speech, the Minister of Finance announced the introduction of a new VAT Law effective from July 01, 2019. The Value Added Tax and Supplementary Duty Act 2012 was enacted in December 2012 after three years of preparations for completing the draft with inputs from international and...

Will the IMF finally learn from Argentina?

Argentina's politically intractable foreign-debt crisis serves as a powerful reminder that the International Monetary Fund (IMF) still has no answer for dealing with the volatility of international capital flows to emerging economies. It also underscores the need for reform at the Fund itself.Given that debt defaults have littered Argentina's history,...