German citizens hoarded almost 11.9 billion euros in 2019 on the Island Guernsey in Britain, also known as the “tax haven”. Most of the offshore companies are registered on this island. The German edition Die Süddeutsche Zeitung writes about this on Tuesday, September 7, based on data from the German Federal Ministry of Finance. According…
According to the survey of Eurostat, the statistical office of the European Union, the annual inflation rate in the countries that use the euro currency jumped to a 10-year high of 3%. As a result of the fuel price rise, inflation in the eurozone had already increased in July to 2.2%, after 1.9% in June….
The EU is threatening to suspend funding to the Czech Republic. This follows a letter sent last Thursday by the Commission to three Czech government ministries and published by Czech news server iRozhlas.cz on Monday. The Commission warned that the Czech Republic has still not taken enough action to meet EU standards on the prevention of conflicts of…
Since Croatia has been placed in the orange category of the European Centre for Disease Prevention and Control (ECDC), concern was raised on the possible decrease in bookings and travel demand. Nevertheless, Staničić said that the country continues to register positive trends as Croatia has been placed on many markets as a well-prepared and safe…
Prices for coronavirus vaccines, Pfizer and Moderna, is expected to rise in the EU. According to media reports, the price of Pfizer dose will increase by 25%, and one of Moderna by 10%. According to the new agreement, manufacturers of the coronavirus vaccine will supply the EU with 2.1 billion doses of the vaccine by…
Gazprom is refusing to increase gas supplies to Europe via Ukraine, which has led to a sharp increase in fuel prices. According to analysts, following the low gas reserves and rising consumption in Asia, stabilizing gas prices are not expected in the near future, and Gazprom’s tough approach to Ukrainian transit will further complicate the…
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…
