The tax reform submitted to the Saeima for approval is one big disappointment that will not improve competitiveness, said head of the Monetary Policy Office of the Bank of Latvia Uldis Rutkaste. According to him, the tax reform will not resolve the main problems of Latvia’s tax system. “The tax reform will not improve competitiveness…
According to the official statistics figures, in 2016-2017 MY Ukraine exported 5.35 million tons of barley, up by 21% YoY (4.41 million tons), which became the highest rate for the country in seven recent years. In the season 2016-2017, Saudi Arabia (42% of the general supplies) and Libya (18%) were the main importers of Ukrainian…
By increasing excise tax for beer, the goal of reducing alcohol consumption will not be achieved. This is because consumption of other alcoholic beverages will increase as a result, notes CEO of Latvian Breweries Union Peteris Linins, commenting on the government’s plans to raise excise tax for beer. He emphasizes that Finance Ministry has developed…
In the first half of 2017, tax arrears in Kyrgyzstan reached 2.5 billion soms. Bad debt is estimated at 738.2 million soms – 1,888 taxpayers left debts. This is almost a third of the total debt. In half a year, the tax authorities forcibly collected 1,687.4 billion soms of debts to the budget. 42,729 tax…
Azerbaijan’s president Ilham Aliyev signed a decree approving a memorandum of understanding between Azerbaijan Railways CJSC and Iranian Railways on the development of railways, signed on March 5 in Tehran. Azerbaijan Railways CJSC is instructed to ensure the implementation of provisions of the decree after the MoU’s entry into force. Meanwhile, Azerbaijan’s Foreign Ministry is…
S&P Global Ratings affirmed its “B+/B” long- and short-term counterparty credit ratings on Ipoteka Bank JSCM. The outlook is stable. The affirmation reflects S&P’s view that over the past two months Ipoteka Bank’s capitalization has significantly improved on the back of support received from the government of about Uzbekistani sum (UZS) 380.8 billion (about $95…
Nationalized PrivatBank has been determined an authorized bank that can be attracted to the storage of cash reserves of the National Bank of Ukraine (NBU), the NBU reported on its website, with reference to NBU Board resolution No. 460-RSh dated July 19. “Thus, the National Bank continues to delegate some of the functions that it…