In order to overcome the sharply increased inflation, the European Central Bank decided to tighten the monetary policy. The ECB committee increased the refinancing rate by additional 50 basis points, which is in line with the rate forecast by analysts. As a result of today’s decision, the main refinancing rate reached 2.0%. It’s worth mentioning…
Portugal may end its “Golden Visa” program, which granted residency to wealthy foreigners in return for investment. Prime Minister Antonio Costa announced the news at the Web Summit held in Lisbon. According to the Prime Minister, the program launched in Portugal in 2012 has already fulfilled its purpose, and the government will review the current…
At the end of September, a meeting of EU energy ministers is planned. They will discuss the current energy crisis. The European Commission is pushing forward the idea of imposing the so-called windfall tax, i.e. tax on windfall profits. This idea has been criticized by experts. On September 30, an extraordinary meeting of EU ministers…
The European Central Bank (ECB) raised interest rates unprecedentedly and hinted at further increases in the future. The ECB raised the rate on deposits from 0 to 0.75%, and the refinancing rate to 1.25%, the highest level since 2011. Rates are expected to rise in October and December as well. Although the EU economy is…
Italy plans to approve a new aid package worth about 14.3 billion euros ($14.5 billion) to help protect businesses and households from rising energy and consumer prices. The scheme, one of Prime Minister Mario Draghi’s last major moves ahead of next month’s national election, is on top of around 33 billion euros budgeted since January…
The lower Chamber of the French Parliament has approved a package of 20 billion euros to reduce inflation, as well as tax benefits to help families. Reuters reports. The lower house last week already approved a package of anti-inflation measures, which include an increase in pensions, a temporary cap on rent increases and an increase…
After the European Union froze $ 250 million in assets of Russian businessmen, the Italian government faced several problems. According to the Washington Post article, the main challenge of the country today is to manage the frozen villas of the Russians, which is quite expensive. There is also the question of what function the empty…
The British business newspaper City A.M. And RIFT Tax Refunds conducted a study showing that the Cayman Islands, the UK, and the US are leading in terms of offshore losses. A collective study found that under the offshore scheme registered in the Cayman Islands, the Cayman Islands alone lose about $ 45.7 billion annually. The…
On February 1, maximum prices for several categories of food products entered into force in Hungary. There is no compensation for sellers, so they have to bear the cost of the increases in goods. At the same time, the first discount store introduced a limit on the number of products purchased. Each country is looking…
A new tax will soon be required for non-EU citizens to enter the Schengen area from 2022. According to Euronews, any passenger other than those living in the Schengen area will have to pay the tax when entering the Schengen area. According to the publication, those who are citizens of EU member states but do…
