Poland and Egypt are more at risk from higher taxes in central and eastern Europe, the Middle East and Africa as governments tackle deficits, according to Citigroup Inc.
“We see tax risk as higher in countries where the deficit needs to come down and corporate taxes are below average,” Citigroup strategist Andrew Howell wrote in a report distributed today. South Africa and Russia are also “at risk,” while Turkey “looks in relatively better shape,” he wrote.
Bank levies “could be implemented in a Europe-wide manner,” and the CEEMEA mining industry “looks under-taxed relative to global peers,” according to Citigroup.
