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40 20 100 80 60 50 0 Source: Tax Foundation Estonia Latvia Israel Turkey Turkey Switzerland New Zealand Luxembourg Czech Republic JARISI Lithuania Lithuania Australia Australia Hungary Slovak Republic Гнарамс Canada memands Canada Slovenia Norway Germany Netherlands Finland Austria International tax competitiveness index 2023 • Low government debt and high affordability provide further fiscal space United States Costa Rica Korea Japan Greece • Low tax rates provide competitiveness and a buffer for fiscal balancing • The main principles of Estonian tax policy are (i) a simple tax system and (ii) a broad tax base. The structure of the tax system is growth- enhancing and the tax collection system is efficient • Estonia leads the OECD Country Rankings on the 2022 International Tax Competitiveness Index • 500 0 -500 -1,000 Government spending aims to fuel future growth, with age-related spending not a serious burden. Estonia's age-related spending is low when compared to peers and the EU average -1,500 -2,000 12 10 Source: The 2021 Ageing Report, European Commission 8 6 4 2 لس 0 -2 EE LV DK LT EU SE FI AT NL BE REPUBLIC OF ESTONIA MINISTRY OF FINANCE 22 CZ IE SI SK Central Government, EURm (Ihs) Local Government, EURm (lhs) Source: Statistics Estonia, Ministry of Finance of Estonia Social Security Funds, EURm (Ihs) -GG nominal deficit, % GDP (rhs) Estimated change in age-related spending 2019-2070 (% of GDP) 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023f 2024f 2025f 2026f 2027f Fiscal balance evolution by government sector 1% 0% -1% -2% -3% -4% -5% -6% Fiscal space to cushion long-term challenges Despite crisis-related fiscal spending, Estonia's public finances remain strong 22

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