Romania plans to lower income tax

(TaxCredits.net, CC BY)

Serbia’s banking sector with improved CAR

Bratislava region is not as wealthy as it seems

Romania

Romania’s FinMin Viorel Stefan revealed that the government has been working on changes to the Tax Code for two months. The current flat tax on individual income will be reduced from 16% to 10% starting January 1st, 2018, and this tax rate will apply to the global revenues of a household, Stefan announced. Romania Insider reports that the tax will apply to “global revenues” regardless of their source. Revenues bellow RON2,000 (EUR442) per month will not be taxed.

Government officials say the new taxation system is based on the American model. By introducing the tax on the global revenue tax payers will be able to deduct from the tax base some expenses such as the amounts paid for private pensions, health insurance, or the amounts paid for children’s education.

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Slovakia

Bratislava copes with the problem of limited access to the EU funds and with other problems resulting from the distorted statistics. The Slovak Spectator reports that although Bratislava region has been improving its position in the international rankings, it is not as wealthy as statistics show.

According to the latest report by Eurostat, in 2015 the region of Bratislava was the 5th wealthiest region in the European Union – considering GDP per capita – 188 per cent of the EU average. In 2014 it was 186 per cent. It had better results than Prague or Vienna.

At the same time experts warn that those results come from distorted statistics. They points out the regional GDP per capita indicator doesn’t take into account the number of people dwelling in a given region or the number of those commuting to work there.

“Bratislava does not have the standard of living of Vienna and its vicinity, not to mention Berlin or Munich,” Pavol Frešo, Bratislava Region’s Governor, comments.

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Serbia

SEE News Corporate Wire reports Serbian banking sector’s capital adequacy ratio (CAR) reached 21.8 per cent at the end of December 2016. It’s up 0.9 percentage point y/y. The National Bank of Serbia (NBS) informed the ratio is now at its highest level in the last eight years.

The NBS informs „the ratio of Tier 1 regulatory capital to risk-weighted assets grew to 20 per cent at the end of 2016 from 18.8 per cent a year earlier, and return on equity (ROE) more than doubled, rising to 3.4 per cent from 1.6 per cent (…) The ratio of regulatory provisions to gross non-performing loans (NPL) in the Serbian banking system rose to 118.9 per cent in December 2016 from 114.2 per cent a year earlier.”

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What’s up in indexes

BET (of Bucharest) increased from 8,198.55 index points Tuesday, April 11th to 8,218.63 index points Wednesday, April 12th. It was up 0.22 per cent d/d and up 22.44 per cent y/y.

BUX (of Budapest) decreased from 32,199.00 index points Tuesday, April 11th to 32,409.94 index points Wednesday, April 12th. It was up 0.65 per cent d/d and up 24.52 per cent y/y.

CROBEX (of Zagreb) decreased from 1,939.72 index points Tuesday, April 11th to 1,903.28 index points Wednesday, April 12th. It was down 1.88 per cent d/d and up 17.58 per cent y/y.

OMXR (of Riga) decreased from 784.62 index points Tuesday, April 11th to 784.18 index points Wednesday, April 12th. It was down 0.06 per cent d/d and up 28.46 per cent y/y.

OMXT (of Tallinn) increased from 1,114.64 index points Tuesday, April 11th to 1,118.45 index points Wednesday, April 12th. It was up 0.34 per cent d/d and up 15.50 per cent y/y.

OMXV (of Vilnius) increased from 563.81 index points Tuesday, April 11th to 565.13 index points Wednesday, April 12th. It was up 0.23 per cent d/d and up 14.41 per cent y/y.

PX (of Prague) decreased from 992.95 index points Tuesday, April 11th to 983.61 index points Wednesday, April 12th. It was down 0.94 per cent d/d and up 10.89 per cent y/y.

SAX (of Bratislava) increased from 308.95 index points Tuesday, April 11th to 308.99 index points Wednesday, April 12th. It was up 0.01 per cent d/d and down 3.09 per cent y/y.

SOFIX (of Sofia) increased from 656.45 index points Tuesday, April 11th to 656.59 index points Wednesday, April 12th. It was up 0.02 per cent d/d and up 49.18 per cent y/y.

UX (of Kyiv) decreased from 1,062.34 index points Tuesday, April 11th to 1,045.28 index points Wednesday, April 12th. It was down 1.61 per cent d/d and up 76.12 per cent y/y.

WIG20 (of Warsaw) decreased from 2,221.82 index points Tuesday, April 11th to 2,214.06 index points Wednesday, April 12th. It was down 0.35 per cent d/d and up 16.06 per cent y/y.

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