Taxation in Emerging Market and Middle-Income Economies: Similarities and Differences Between Countries from Europe and Central Asia

Abstract

The studies and the research from specialty literature demonstrate that a free-open policy and an efficient governance of the economy are the basic pillars for economic and social growth, taxation having an essential role in the life of any nation. A fiscal system based on horizontal and vertical equity, stability, predictability, and efficiency contributes significantly to the sustainability of public finances. Based on these considerations, through this article, we will highlight the main similarities and differences in the field of taxation at the level of countries that are included in the emerging market and middle-income economies category from Europe and Central Asia, to identify best practices and to highlight the impact of taxation on economic and social development. Without claiming an exhaustive approach, by analyzing some indicators of the fiscal field, we will try to achieve a ranking of these countries, to identify the most attractive country from the perspective of taxation.