Poland: interest rates left unchanged

NBP headquarters, Warsaw, Poland (Narodowy Bank Polski, CC BY-SA)

Romania wants to increase tax revenues from large taxpayers

Estonia: in 2018 an average salary to reach EUR1,297

Poland

The Polish Radio informs that the country’s Monetary Policy Council (MPC) decided on April 11th to leave interest rates unchanged. As reported, the reference rate remains at 1.5 per cent.

The Polish Radio reminds that the last time when the body responsible for the monetary policy of Poland’s central bank, Narodowy Bank Polski (NBP), changed interest rates in 2015. The MPC commented it’s “closing a cycle of monetary policy easing”. The rates have been trimmed by 50 basis points.

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Romania

The National Fiscal Administration Agency (ANAF) of Romania plans to increase revenues from large taxpayers, Romania Insider informs. The tax authority points out that in Germany, France or UK, large taxpayers’ share in tax revenues is 65 to 75 per cent, while in Romania it’s only 43 per cent. About 4,500 large companies bring 70 per cent of the economic turnover, while the rest of 395,000 companies bring only 30 per cent of the turnover, but smaller entities bring over a half of total taxes and social contributions. ANAF wants to make the large entities pay more and also plans to “diminish the fiscal burden for small and medium enterprises”.

Ionuţ Mişa, new President of ANAF, informs he plans “to set up a centralized department for risk analysis, by using database rather than the human factor, thus lowering the risk of potential office abuse in controlling taxpayers, and targeting specific information, instead of asking for all company documents.”

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Estonia

The Institute of Economic Research informs that in 2018 an average salary will increase to EUR1,297. The Institute forecasts that the economy will grow at 4 per cent pace in this period. The experts also point out that “the present state of private consumption is good and for the fourth year in a row a private consumption rating exceeds 50 points”.

The Baltic Course quotes Urve Palo, Estonian Minister of Entrepreneurship and Information Technology, who said: “We see that households can save more, which increases the confidence of families. Hereby, we have to mention that an important role in the improved economic situation of households is also played by a tax-free income minimum being raised to EUR500 at the start of the year, as a result of which 75 per cent of employees gets up to EUR64 of more money each month”.

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What’s up in indexes

BET (of Bucharest) decreased from 8,840.36 index points Tuesday, April 10th to 8,828.34 index points Wednesday, April 11th. It’s down 0.14 per cent d/d and up 7.66 per cent y/y.

BUX (of Budapest) increased from 37,882.42 index points Tuesday, April 10th to 37,971.57 index points Wednesday, April 11th. It’s up 0.24 per cent d/d and up 17.93 per cent y/y.

CROBEX (of Zagreb) decreased from 1,811.97 index points Tuesday, April 10th to 1,805.03 index points Wednesday, April 11th. It’s down 0.38 per cent d/d and down 2.80 per cent y/y.

OMXR (of Riga) decreased from 1,045.06 index points Tuesday, April 10th to 1,031.40 index points Wednesday, April 11th. It’s down 1.31 per cent d/d and up 31.45 per cent y/y.

OMXT (of Tallinn) decreased from 1,260.22 index points Tuesday, April 10th to 1,254.82 index points Wednesday, April 11th. It’s down 0.43 per cent d/d and up 12.58 per cent y/y.

OMXV (of Vilnius) decreased from 702.77 index points Tuesday, April 10th to 701.52 index points Wednesday, April 11th. It’s down 0.18 per cent d/d and up 24.42 per cent y/y.

PX (of Prague) decreased from 1,125.02 index points Tuesday, April 10th to 1,124.03 index points Wednesday, April 11th. It’s down 0.09 per cent d/d and up 13.20 per cent y/y.

SAX (of Bratislava) increased from 342.76 index points Tuesday, April 10th to 345.13 index points Wednesday, April 11th. It’s up 0.69 per cent d/d and up 11.71 per cent y/y.

SOFIX (of Sofia) decreased from 664.75 index points Tuesday, April 10th to 660.64 index points Wednesday, April 11th. It’s down 0.62 per cent d/d and up 0.64 per cent y/y.

UX (of Kyiv) increased from 1,730.22 index points Tuesday, April 10th to 1,773.49 index points Wednesday, April 11th. It’s up 2.50 per cent d/d and up 66.94 per cent y/y.

WIG20 (of Warsaw) decreased from 2,274.81 index points Tuesday, April 10th to 2,271.93 index points Wednesday, April 11th. It’s down 0.13 per cent d/d and up 2.26 per cent y/y.

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