Chapter 4 | Page 174 size, access to raw materials and availability of skilled labour play a more significant role.154 Therefore, while reduced taxes and tax incentives can help attract foreign investment, many other factors are equally necessary.155 It is argued that the main reason companies invest in any given country almost never involves tax incentives; rather, the decision is driven by other considerations such as the size of the market, resources, strategic export platforms and labour.156 Therefore, it can be argued that the tax incentives most often used by developing countries to promote investment―tax holidays and ‘special development’ or free trade zones―are actually damaging to their economies.157 Estonia’s policy of lowering income tax and raising tax-exempt minimum income as a measure to increase real income of employees and promote investment and jobs is an example of fiscal policy application for social objectives.158 Tajikistan reported its plans to analyse taxation mechanisms in order to boost entrepreneurial and investment activities.159 State reports, however, made very little mention of policies in non-tax revenue areas. Among the few to do so, Cambodia identified the government’s management of State-owned enterprises and enterprises co-owned by the State and private companies as a means to enhance their value.160 The taxation of unused land161 was also mentioned in that report. Similarly, Tanzania provided detailed tables on tax and non-tax revenue.162 The increasing problem of fiscal deficit and public debt was identified by Costa Rica as a limitation on the government’s flexibility in the implementation of 154 Ibid. 155 International Monetary Fund, above n 14. 156 Balakrishnan et al, above n 53, 12. 157 Itriago, above n 18, 14. In most cases, tax holidays provide an opportunity for companies to dodge their responsibilities and is susceptible to abuse. 158 CESCR, State Report: Estonia, E/C.12/EST/2 (12 July 2010), [274]. 159 CESCR, State Report: Tajikistan, E/C.12/TJK/2-3 (4 April 2013), [194]. 160 CESCR, State Report: Cambodia, E/C.12/KHM/1 (7 January 2009), [410]. 161 Ibid., [542]. 162 CESCR, State Report: United Republic of Tanzania, E/C.12/TZA/1-3 (28 March 2011), 12.