Hungary is the second best in the CSE region in collecting VAT

(Bru-nO, CC)

Tallinn to purchase 100 new gas buses with EUR25m

CSEBA: China to invest EUR13bn in Croatia

Hungary

According to the report “Study and Reports on the VAT Gap in the EU-28 Member States” released by the European Commission (EC) in September 2018, Hungary is the second best member state from the Central and Southeast Europe (CSE) in successful VAT tax collection. Only Austria was more efficient.

The Budapest Business Journal informs that Hungarian VAT gap is 13 per cent. “Hungaryʼs realization of a 9 percentage-point decrease in the investigated period since 2012 is a significant improvement,” the portal quotes Gábor Farkas, director of PwC Hungary.

The EC’s report shows that the total amount of VAT losses across the EU in 2016 is estimated at EUR147.1bn, 12.3 per cent of the total expected VAT revenue.

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Estonia

The municipal company Tallinna Linnatranspordi AS (TLT) wants to purchase 100 new buses for Tallinn. As The Baltic Course informs, the capital city of Estonia wants to invest EUR25m. “The supervisory board of the Tallinn public transport company Tallinna Linnatranspordi AS (TLT) has approved the company’s investment plan for 2019,” writes The Baltic Course. According to the strategy, „all old diesel buses will be replaced with city buses using gas as fuel”.

Moreover, the next 200 buses will be acquired over the next five years, so that the share of gas buses in the bus park will rise to over 60 per cent by 2023.

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Croatia

The China Southeast Europe Business Association (CSEBA) says it wants to invest up to EUR13bn in Croatia through various funds. The Total Croatia News informs that Chinese are interested in establishing their own currency settlement centre “which would enable Zagreb and Croatia to become an important player in the international monetary market due to the rise in the influence of the Chinese currency”.

Among the potential projects are: cooperation in constructing the Croatian national football stadium, shooting a film in Croatia, establishing Croatian film festival in China, etc.

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What’s up in indexes

BET (of Bucharest) increased from 8,393.90 index points Friday, October 12th to 8,441.42 index points Monday, October 15th. It’ up 0.52 per cent d/d and up 5.09 per cent y/y.

BUX (of Budapest) increased from 36,347.89 index points Friday, October 12th to 36,564.00 index points Monday, October 15th. It’s up 0.59 per cent d/d and down 6.53 per cent y/y.

CROBEX (of Zagreb) increased from 1,772.68 index points Friday, October 12th to 1,779.92 index points Monday, October 15th. It’s up 0.41 per cent d/d and down 1.71 per cent y/y.

OMXR (of Riga) increased from 935.36 index points Friday, October 12th to 948.68 index points Monday, October 15th. It’s up 1.42 per cent d/d and down 6.87 per cent y/y.

OMXT (of Tallinn) increased from 1,213.31 index points Friday, October 12th to 1,218.76 index points Monday, October 15th. It’s up 0.45 per cent d/d and down 0.99 per cent y/y.

OMXV (of Vilnius) increased from 662.43 index points Friday, October 12th to 667.64 index points Monday, October 15th. It’s up 0.79 per cent d/d and up 2.74 per cent y/y.

PX (of Prague) increased from 1,079.61 index points Friday, October 12th to 1,081.07 index points Monday, October 15th. It’s up 0.14 per cent d/d up 2.69 per cent y/y.

SAX (of Bratislava) increased from 331.88 index points Friday, October 12th to 335.08 index points Monday, October 15th. It’s up 0.96 per cent d/d and up 8.13 per cent y/y.

SOFIX (of Sofia) increased from 610.40 index points Friday, October 12th to 610.75 index points Monday, October 15th. It’s up 0.06 per cent d/d and down 8.88 per cent y/y.

Monday was a non-trading day at Kyiv Stock Exchange. UX (of Kyiv) closed at 1,690.55 index points Friday, October 12th. It’s down 39.50 per cent y/y.  

WIG20 (of Warsaw) decreased from 2,186.62 index points Friday, October 12th to 2,170.05 index points Monday, October 15th. It’s down 0.76 per cent d/d and down 14.38 per cent y/y.

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