Archive for the ‘World news’ Category

EU To Put End To Tax Avoidance by MNCs

Tuesday, February 21st, 2017

The Finance Ministers of EU member-states have agreed to close loopholes in tax legislation allowing multinational companies to avoid paying taxes on dividends, reported Reuters.

The agreement is a step in the direction of terminating the practice of companies declaring their taxes where they find it most expedient to pay taxes.

The rules agreed on Tuesday are expected to enter into force in 2020. It is expected that these will help EU countries compensate for losses from the current practice of multinational companies reducing the amount of taxes owed by declaring their profits in countries with lower taxes.

Such schemes are used by giants like Apple, Amazon, Google, Starbucks etc. and, at present, these are completely legal.

The agreement reached on Tuesday postponed by a year the implementation of the new rules to January 2020 because some countries pointed out that it might have certain negative consequences for competitiveness should the amendments to tax laws be adopted too quickly. In some cases, the rules will be valid as of 2022.

With the new agreement, the ministers managed to reach a compromise definition of a tax haven. So far, there was no agreement in the EU on a common list of countries used as tax havens. Some countries insisted on having their own list which normally remained blank, added Reuters.

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Juncker: Great Britain Will Pay Stiff Price for Brexit

Tuesday, February 21st, 2017

Great Britain will pay a stiff price for leaving the European Union, warned in a speech to the Belgian Federal Parliament the President of the European Commission Jean-Claude Juncker.
These will be difficult negotiations which will continue for two years in order to agree on the terms of Brexit. Years will be needed, however, in order to agree on our future relations. The British know already that there will neither be a discount in the price, nor should they expect zero expenses. The British will have to honour their commitments, so this will be a stiff price to pay.
It is expected that the British government will launch the Brexit procedure by the end of March.

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First Express Train from Istanbul Arrives in Sofia

Tuesday, February 21st, 2017

The first express train from the Turkish city of Istanbul arrived in Sofia on Tuesday after a nine-and-a-half-hour trip, reported Anadolu Agency.
The head of passenger service in Istanbul with Turkish State Railways commented that the state-of-the-art express train with four cars will run every day.
“There will be a lot of tourists travelling from Bulgaria to Istanbul and Edirne. Of course, this is not limited to Bulgaria alone. The train has connections with Belgrade, Bucharest and Budapest. This is why it will contribute to tourism,” explained the director.

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3 EU Countries Demand That Lower-Quality Foods Not Be Sold in Eastern Europe

Tuesday, February 21st, 2017

The Czech Republic has joined the initiative supported by Hungary and Slovakia calling on the European Commission to adopt a law banning food and beverages companies from selling products of different content and quality under the same label and brand.
According to the official representatives of the three countries, multinational companies sell lower-quality goods in Eastern Europe than they do in Western Europe.
“Where some products are concerned, we have literally turned into Europe’s garbage can,” stated to Reuters Czech Agriculture Minister Marian Jure?ka.
Organisations for the protection of the rights of consumers complain that large companies sell in Czech shops products of much lower quality than they do in Germany. The law, however, protects the producer because such sales are allowed if the packaging clearly describes the ingredients of the product. But buyers have no way of comparing the ingredients described on the packaging with the label of the same product in a Western country and few buyers can actually make the distinction.
Jure?ka added that he has ordered an inspection of the quality of foods which must be completed by June.
The data, together with data from Slovakia and other countries, will be used in lobbying for amendments to EU laws.
The list will include not merely foods and beverages but household goods as well, for example, washing powder.

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EC Threatens To Sue 5 Countries Over Air Pollution

Tuesday, February 21st, 2017

The European Commission has warned for the final time Germany, France, Spain, Italy and the UK about systematic violation of the restrictions of the European Union regarding air pollution, announced the press centre of the commission.
These are the five European countries which exceed the admissible levels of nitrogen dioxide which is especially harmful and causes cardiovascular and lung diseases.
Most nitrogen dioxide emissions are generated by traffic and automobiles on the roads. The EC has called on the five countries to take action in order to guarantee people’s health.
Permanently high levels of NO2 caused nearly 70,000 early deaths in Europe in 2013, three times more than the number of deaths caused by traffic accidents.
Over 400,000 Europeans die prematurely every year due to air pollution.

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270 Refugees Evacuated in Harmanli Centre Due To Fire

Tuesday, February 21st, 2017

270 refugees from the centre in Harmanli have been evacuated because of a fire.
The signal about the incident was submitted slightly after midnight. The fire broke out in a warehouse on the first floor. 270 of the residents in the building were evacuated to other rooms.
This is the second fire in the camp. At the end of January, a fire broke out in the canteen and some of the rooms. 500 people were evacuated then.
The investigation is focusing on two theories – carelessness or a technical fault in the electricity installation.

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Interim Govt Not To Nominate Bulgarian EU Commissioner

Tuesday, February 21st, 2017

At present, the caretaker government will not nominate a candidate for Bulgarian European Commissioner, announced interim PM Ognyan Gerdzhikov.
The issue was discussed with President Rumen Radev.
“For now, we will not nominate a European Commissioner. At a later stage, a European Commissioner might be nominated,” said PM Gerdzhikov.

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Introduction of Fingerprint Identification in Outpatient Sector Postponed

Tuesday, February 21st, 2017

Bulgaria’s Health Ministry has postponed the introduction of fingerprint identification in the outpatient sector.
The decision will protect the healthcare system from collapse in terms of medical, technical, information and financial stability, stated Health Minister Ilko Semerdzhiev.
The Health Ministry took a decision on the regulatory launching of the procedure on rejecting the introduction of fingerprint identification in the outpatient sector in 2017 and postponing it until 2019.

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Bulgarians Wishing To Vote Abroad Have One Week Left To Apply

Tuesday, February 21st, 2017

Bulgarians living abroad have one week left to file applications in order to participate in the upcoming snap parliamentary elections on March 26. The deadline is February 28.
So far, over 15,000 applications have been filed, showed data published on the website of the Central Election Commission (CEC).
The largest number of applications for participation in the elections have been filed in Turkey – over 5,000, followed by Great Britain with over 1,700, Spain, the USA and Germany.
So far, CEC has opened voting sections in the buildings of Bulgaria’s diplomatic missions abroad. The final number of voting sections abroad will be known after the deadline for applications for voting has expired.
The number of voting sections in countries which are not EU members may not be greater than 35. By law, in order for a voting section to be opened at a given location, there must either be a diplomatic mission or at least 60 applications of people who wish to take part in the elections.

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Greece May Rely On New Rescue Programme

Tuesday, February 21st, 2017

Greece may rely on a new rescue programme. Athens and the IMF have resolved their differences which will allow the fund to participate in the new loan for the country, reported bTV.
In exchange, the Greek government will have to continue with the unpopular reforms which are causing severe dissatisfaction in the country.
Security employees in state museums joined the farmers in their protests against the policy of the Tsipras cabinet. Thus, all tourist attractions remained closed on Tuesday.
The way to a new rescue plan was opened after months of tense negotiations. Germany and several other European countries are adamantly against the remitting of some of the Greek debt. Athens, on the other hand, stubbornly refuses to implement further pension and income cuts.

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