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 Advance rulings aggregate annual report assessment balance basis Brussels budget execution budget preparation process budget process budgetary cabinet chart of accounts civil servants classiﬁcation communities and regions consolidated costs Council of Finance Court of Audit decision-making delay ESCB European Commission Eurostat ex ante ex-post expenditure and revenue expenditure estimates federal budget federal govemment federal level Federal Planning Bureau ﬁnal accounts Finance’s ﬁnancial ﬁrst ﬁscal policy ﬁscal risks fiscal targets Flanders forecasts functional ministries funds High Council High Finance Council’s in-year included Inspectorate of Finances intemal audit units levels of govemment line ministries macroeconomic medium-term Minister ministries and agencies Ministry of Budget Ministry of Finance monitor MTBFs National Accounts Institute ofﬁcials ongoing overall overview payment population aging PPPs presented procedures projections published quasi-ﬁscal activities regions and communities signiﬁcant Stability Program strategic systematic tax administration tax expenditure tax legislation tax policy taxpayer