It’s been a while since governments are trying to mitigate the economic consequences of the ongoing COVID pandemic. European Council announced that it had adopted an amendment to the VAT Directive to introduce a temporary VAT exemption on importations and certain supplies in response to the COVID-19 pandemic. The “buy and donate” directive, which applies…
The European Commission has presented the EU Green Deal environmental plan, which aims to reduce emissions by 55%. First, a cross-border carbon duty (Carbon Border Adjustment Mechanism (CBAM)) will be introduced to restrict imports of steel, aluminum, cement, fertilizers, and electricity to the EU. The scheme will be launched in test mode from January 1,…
The European Union (EU) has extended economic sanctions on Russia for six months until January 31, 2022, according to a statement posted on the organization’s website. “The decision of the European Council was followed by an assessment of the state of implementation of the Minsk Agreement at the meeting of the European Council on June…
The statement on a two-pillar solution to address the tax challenges raised by the digitization of the economy was issued on July 1, 2021. The new rules was released by the Organisation for Economic Co-operation and Development (OECD). The Agreement renews important elements of the old international tax system, which is no longer adequate in…
Europe has spent many years reducing its dependence on Russian gas. However, with the expected cold next winter, it will need more fuel than usual. Natural gas supplies in Europe have been reduced to a 10-year minimum, and as Citigroup forecasts, it will reach the lowest level in five years. Filling gas pipelines is connected…
The population of Budapest, the capital city of Hungary, has been declining for five years. The number has significantly decreased by almost 13 000 and this can be partly explained by the pandemic. As a result, the demand in the real estate market has changed, as the urban population went to the countryside, searching for…
The consequential and regularly developing technology brought by the new era is rapidly changing businesses. Companies are investing in big data, automation, and artificial intelligence solutions to improve their business capacities. The pandemic has also pushed companies to accelerate the existing digitalization plans to have data and processes continuously available and operable securely to ensure…
Leading economies united in the G7 summit have agreed to impose a Global Minimum Corporate Tax of at least 15%. This decision will have a significant impact on the multinational corporations decitions in the coming years to move their businesses to offshore zones or to countries where taxes are lower. The tendency of relocating the…
According to the European Commission, eight banks were previously excluded from syndicated debt sales backing the European Commission’s up to €800 billion (US$950.7 billion) Covid-19 recovery fund. On Friday the EU executive said that they will be allowed to take part in future issues. According to Dialogic, Many of the Banned banks are Europe’s go-to…
