The envisaged tax administration reform is therefore welcome, as are recent measures to avoid base erosion and profit shifting. However, reaping the benefits of such a reform will likely take time, and it is very uncertain how much extra revenue should be counted on. Therefore, additional taxes will be needed. Increasing recurrent taxes on immovable property and on environmental externalities, including greenhouse gas emissions, and scaling back reduced VAT rates and exemptions could potentially yield substantial revenues and would help to improve the quality of the environment and well-being.