Search Results for: Latvia
10 results out of 424 results found for 'Latvia'.
EU COUNTRIES FALLING SHORT ON BENEFICIAL OWNERSHIP MONITORING
EUROPEAN Union member states are dragging their feet implementing the fourth anti-money laundering directive’s (4AMLD 2015/849) beneficial ownership rules. Only five countries met the June 26, 2017, AMLD4 deadline for having an ultimate beneficial ownership (UBO) register under national law – Britain, Denmark, France, Germany and Sweden- according to the European Commission. …
EASTERN EUROPE’S MARKET DIVERSITY POSES REAL CHALLENGE FOR BEAUTY MAJORS SEEKING HIGH REGIONAL PROFILE
EASTERN Europe remains a highly diverse market, where major beauty brands must think strategically to achieve economies of scale and a regional presence that really deliver profits. This is also a region where some markets are significantly bigger than others – with Russia and Poland being key targets.…
RETALIATORY DUTIES ON USA MEAT EXPORTS CHALLENGED AT WTO
THE WORLD Trade Organisation (WTO) Disputes Settlement Body (DSB) has agreed to establish disputes settlement panels to rule on whether retaliatory duties imposed by Canada, China, and Mexico on US meat exports, imposed in response to America’s controversial steel and aluminium tariffs, break WTO rules.…
MEPS SLAM CASH FOR PASSPORT SCHEMES IN TAX CRIMES REPORT
Centre right members of the European Parliament’s special committee on financial crimes, tax evasion and tax avoidance (TAX3) have hit out at the 18 EU member states, that offer citizenship or residence in exchange for investments. The MEPs, members of the European People’s Party (EPP), spoke out November 14 as the committee handed down a draft report*, with findings and recommendations, including phasing out such rights.…
ASIA REGULATORY ROUND UP – NEW SALES AND SERVICES TAX LAUNCHED IN MALAYSIA
A SALES and Services Tax (SST), replacing Malaysia’s now abolished goods and services tax (GST), has come into force (from September 1), via the new Sales Tax Act 2018 and the Service Tax Act 2018. The SST is a single-stage tax, a sales and services tax imposed on manufacturers and service providers rather than end customers, as with the 6% GST.…
EIB PLOTS RIGA AIRPORT FINANCING
THE EUROPEAN Investment Bank (EIB) has drafted plans to lend EUR70 million to Latvia’s Riga International Airport operator Starptautiska Lidosta Riga VAS to help finance improvements and capacity expansions scheduled for 2018-23. The operator wants to extend landside terminal facilities; build a new rapid exit taxiway and cargo apron; acquire new explosive detection systems (EDS) equipment meeting European Union standard 3 requirements; rehabilitate airside pavement areas; reconstruct storm water drainage systems; and upgrade airside lighting systems.…
EU ROUND UP – EU FRAUD MAYBE DECLINING, BUT MILLIONS OF EUROS LOST TO SCAMS EVERY YEAR
THE CONTINUED vulnerability of European Union (EU) revenue collection and spending to fraud has been brought into sharp relief by a new European Commission statistical analysis on financial crime.
That said, a working paper noted that in terms of revenue through external import duties (called ‘own resources’ in EU jargon) detected fraud cases involving EUR10,000 or more alone in 2017 indicates losses have been falling – but still to EUR76 million.…
ASIA REGULATORY ROUND UP – NEW SALES AND SERVICES TAX LAUNCHED IN MALAYSIA
A SALES and Services Tax (SST), replacing Malaysia’s now abolished goods and services tax (GST), has come into force (from September 1), via the new Sales Tax Act 2018 and the Service Tax Act 2018. The SST is a single-stage tax, a sales and services tax imposed on manufacturers and service providers rather than end customers, as with the 6% GST.…
INTERNATIONAL TECHNICAL ROUND UP – IPSAS RELEASES NEW FINANCIAL INSTRUMENT STANDARD
THE INTERNATIONAL Public Sector Accounting Standards Board (IPSASB) has released a new standard on reporting financial instruments – IPSAS 41 – to improve the relevance of financial assets and liabilities data. It replaces financial instruments reporting rules in IPSAS 29, introducing a single classification and measurement model for financial assets, considering an asset’s objective and cash flows.…
EURO 18 MILLION INTERNATIONAL MAIL ORDER SCAM PROBE YIELDS 19 ARRESTS
A CRACKDOWN coordinated by European Union (EU) police and judicial cooperation authorities, Europol and Eurojust, has caught a network of online scammers responsible for stealing some EUR18 million, with a total 19 arrests. With the ringleader in Cyprus and members in Estonia, Finland, Germany, Latvia, Lithuania, Switzerland, Ukraine and the UK, the gang was behind over 35,000 online fraud cases detected since 2012 in a six-year long probe called Operation Warenagent, managed by the public prosecution office of Dresden, and the Saxon state office of criminal investigation, both in Germany, and the Vilnius public prosecutor, in Lithuania.…