No more tax licenses in Slovakia

The Slovak Houses of Parliament, Bratislava, Slovakia (Mark Gregory, CC BY-NC-ND)

Ukraine increased MPs salaries

Construction in Poland is up almost 11 per cent

Corruption scandal in the Romanian Ministry of Finance

Slovakia

Slovak companies should not pay the so-called tax licenses as of January 1, 2018. The draft amendment to the law on income tax was submitted by MPs from the Slovak National Party (SNS) and Most-Híd.

The measure should improve business environment in Slovakia. Vladimír Sirotka, head of the Slovak Association of Small and Medium Enterprises and Entrepreneurs praises the new law: „such positive steps adopted by the government are important.” Sirotka also expects the government will deal with other questions, like licenses of the self-employed or reducing the administrative and tax burden of businesses.

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Ukraine

Ukrainian members of parliaments (MPs) will earn more starting from 2017. „The Verkhovna Rada of Ukraine has increased salaries of members of parliament. A relevant resolution was supported by 230 MPs at a plenary session on Thursday,” the Interfax informs. According to the new law, the chairman of the Verkhovna Rada of Ukraine will be paid a salary equal to 30 minimum monthly wages. The deputies of the chairman will be paid 28 minimum monthly wages. Currently, the minimum wage is UAH1,450 (EUR52.91)

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Poland

Over 112 thousand of constructions were completed in Poland in January – September 2016. It is up 10.9% y/y. The Polish Radio reports after the Central Statistical Office (GUS) that „increases have been noted in both the number of constructions for which permits were granted or registered, as well as the number of dwellings in which construction had begun.”

The number of constructions for which building permits were granted or which were registered with a construction project, amounted to 154,349. It’s up 11.8 per cent y/y.

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Romania

Romanian anti-fraud chief and the secretary of state in the Ministry of Finance resign amid tax evasion and corruption accusations. As Romania Insider reports the National Anticorruption Department (DNA) placed Mariana Vizoli (the state secretary in MinFin) and Daniel Diaconescu (the head of the Anti-Fraud Department within Romanian tax agency ANAF) under judicial control for 60 days, starting from October 20th. The officials are charged with abuse of office in connection with the EUR132m tax evasion case.

„The case targets a complex fraud scheme involving several alcohol producers of the Euroavipo group, and was nicknamed ‘Murfatlar’ because Romanian wine producer Murfatlar is the best-known company involved in this case. (…) It’s shareholder George Ivanescu and six other people were arrested for tax evasion,” the Romania Insider explains.

Finance minister Anca Dragu accepted resignations of Vizoli and Diaconescu on Friday, October 21st.

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What’s up in indexes

BUX (of Budapest) was up 0.79 per cent d/d and up 23.66 per cent from year-end. It increased from 29340.88 index points Thursday, October 20th to 29572.36 index points Friday, October 21st.

BET (of Bucharest Stock Exchange) decreased from 6908.27 index points Thursday, October 20th to 6862.03 index points Friday, October 21st. So it dropped by 0.62 per cent d/d and by 2.00 per cent from year-end.

PX (of Prague) increased from 921.35 index points Thursday, October 20th to 928.28 index points Friday, October 21st. So it’s up 0.75 per cent d/d. From year-end it dropped by 2.93 per cent.

WIG20 (of Warsaw) increased from 1748.99 index points Thursday, October 20th to 1752.25 index points Friday, October 21st. So it’s up 0.19 per cent d/d. From year-end it dropped by 5.75 per cent.

OMXT (of Tallinn) was up 0.33 per cent d/d and up 14.27 per cent from year-end. It increased from 1027.90 index points Thursday, October 20th to 1031.34 index points Friday, October 21st.

OMXR (of Riga) decreased from 714.40 index points Thursday, October 20th to 712.92 index points Friday, October 21st. It dropped by 0.21 per cent d/d. From year-end it’s up 19.95 per cent.

OMXV (of Vilnius) was up 0.88 per cent d/d and up 13.43 per cent from-year end. It increased from 546.46 index points Thursday, October 20th to 551.27 index points Friday, October 21st.

The bourse of Bratislava was closed Friday, October 21st. SAX closed at 315.03 index points Thursday, October 20th. From year-end it’s up 7.76 per cent.

SOFIX (of Sofia) increased from 505.72 index points Thursday, October 20th to 507.67 index points Friday, October 21st. So it’s up 0.39 per cent d/d. From year-end it’s up 10.15 per cent.

UX (of Kyiv) dropped by 0.72 per cent – falling from 835.05 index points Thursday, October 20th to 829.06 index points Friday, October 21st. From year-end it’s up 20.88 per cent.

CROBEX (of Zagreb) decreased from 1966.23 index points Thursday, October 20th to 1959.68 index points Friday, October 21st. So it dropped by 0.33 per cent d/d. From year-end it’s up 15.98 per cent.

 

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