International Internet Magazine. Baltic States news & analytics
Saturday, 25.10.2014, 21:59
An estimated EUR 177 billion in value added tax (VAT) revenue was lost in the European Union due to non-compliance or non-collection in 2012, according to the latest VAT Gap study published by the European Commission. This equates to 16% of total expected VAT revenue of 26 member states, reports LETA.
Keyword tags: Analytics, EU – Baltic States, Financial Services, Taxation
Minister of Finance Rimantas Sadzius in Lithuania favourably assesses nine-month tax collection trends and says that the annual state revenue plan will most likely be fulfilled in 2014, informs LETA/ELTA.
The Estonian Employers' Confederation revealed on Tuesday its new Employers' Manifesto, which focuses on the only sustainable wealth of the Estonian society – the working people of Estonia, their standard of living and their preparedness for working life, in other words, it is a list of proposals to political parties for the forthcoming parliamentary elections, LETA/Postimees Online reports.
On Tuesday, in Luxembourg, the finance ministers of the European Union member states discussed promotion of investment and approved the new global standard on automatic exchange of tax information, informs LETA/ELTA.
The Freeport of Riga board has confirmed new changes in port fees, which means that incoming ships will have to pay a cargo or canal fee of 6.85% higher than initially, the company informed the business portal Nozare.lv, cites LETA.
The Estonian Tax and Customs Board revealed on Friday the aggregate amount of taxes paid by taxpayers from the start of this year till September 30, 2014, and it emerged that considering all paid taxes, the biggest taxpayer in Estonia is Finnish fuel company's Estonian branch Neste Eesti AS, LETA/Postimees Online reports.
The Estonian Tax and Customs Board collected 453.5 million euros of taxes in September 2014, which is an increase of 9.8% as compared to the same time last year, LETA/Public Broadcasting reports.