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International Monetary Fund
This paper presents the Tax Summary for the Solomon Islands. The paper discusses that normal business expenses are deductible against chargeable income. A $7,800 personal exemption applies to both resident and nonresident individuals. This general exemption is subject to apportionment on a pro-rata basis should the individual commence work part way through the year. In addition, the first $5,000 of interest income on deposits made with any savings bank or on fixed deposit accounts with any bank in the Solomon Islands are excluded from chargeable income.
International Monetary Fund
This paper describes economic developments in Tonga during the 1990s. From 1993 to 1996, financial policies were quite expansionary. Following the licensing of two new banks, credit growth accelerated in 1994. The National Reserve Bank of Tonga initially adopted an accommodating stance, but in December 1995, tightened monetary policy significantly. Hampered by its poor profitability in the use of indirect monetary instruments, it relied on an increase in reserve requirements. Meanwhile, fiscal policy had added further to demand pressures with the recurrent budget surplus declining, owing to a cost-of-living adjustment to government wages.
International Monetary Fund
This report describes economic developments in the Solomon Islands during the 1990s. Developments in the real sector were dominated by a broad-based export boom, which stemmed, in large part, from a continuing increase in the rate of extraction of forestry resources. Although economic growth was spurred by surging fish exports in 1994–95, logging also made a significant contribution to growth, with log exports rising to a new record in 1995. Inflation eased somewhat in 1995, reflecting slowing import price increases and an increasing supply of local food crops.
International Monetary Fund
This report describes recent economic and financial developments in Guinea–Bissau, focusing on 1994 and early 1995, and provides statistical coverage from 1990. In 1994, the rate of growth of aggregate economic output exceeded that of the population, the pace of consumer price inflation abated to historic low, and both the fiscal and external current account positions showed further improvement. At end-1994, the economic and financial situation of Guinea–Bissau remained characterized by large domestic and external imbalances, as well as by a heavy burden of external debt service obligations.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.