Belgium: Report on Observance of Standards and Codes: Fiscal Transparency Module
International Monetary Fund, Apr 2, 2008 - Business & Economics - 46 pages
The basic government finance processes are supported by a sound institutional and legal framework. Fiscal information is provided through regular publications and extensive use of the internet. Finally, audit processes are extensive and help improve budget management decisions, practices and standards, with government financial decisions evaluated ex ante and ex post by various institutions. Information is made available to the public on fiscal risk and tax expenditure in budget documents, in-year budgetary data on local government agency, content of final government accounts, and the governance of state-owned equity holdings.
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accounting system accrual accounting acquis communautaire activities approval assessment basis Belgacom Belgium borrowing requirements section budget and finance budget documentation budget execution budget preparation process budget process central bank communities and regions costs Council of Finance Court of Audit Debt Agency discussed economic enterprises equity holdings ESCB estimates European Commission Eurostat ex-post expenditure and revenue federal government federal level Federal Planning Bureau fiscal data Fiscal information fiscal risks forecasts functional ministries funds government equity government expenditure Government Finance government’s High Council in-year independent Inspectorate of Finances internal audit units International Monetary Fund levels of government line ministries macroeconomic management contract Minister Ministry of Budget Ministry of Finance monitoring MTBFs multi-year National Accounts Institute NBBN NMBS/SNCB OECD overall overview Parliament payment percent PPPs provides published regional holding companies regions and communities sector Single Audit systematic tax administration tax expenditures tax legislation treasury