Latvia: rapid increase of excise tax to cause dramatic rise of smuggling activity

The National Association for Tobacco Product Manufacturers (TIRNA) is confused about Finance Ministry’s submitted proposals for tax reform that provide for raising excise tax on cigarettes by 11% instead of previously planned 5.5%. TIRNA believes the submitted proposals are rushed, economically unjustified and will not secure the economy any major tax income. “Exactly the opposite…

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Ukraine: FUIB issues first e-license

First Ukrainian International Bank (FUIB) has become the first bank in Ukraine to issue an e-license. As of today, FUIB has issued 5 out of 11 e-licenses in Ukraine and is the leader in providing this service in Ukraine. On July 3, the National Bank started issuing personal licenses to individuals in electronic form through…

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Turkmenistan: Ashgabat and Bishkek mull prospects of trade, economic cooperation

Presidents of Turkmenistan and Kyrgyzstan, Gurbanguly Berdimuhamedov and Almazbek Atambayev, during a phone conversation confirmed the existence of great potential for enhancing relations on a wide range of areas. In this regard, the sides noted the expediency of joint work on the issues of expanding the range of mutually supplied goods and services, creating conditions…

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