International Internet Magazine. Baltic States news & analytics
Wednesday, 29.06.2016, 03:03
Largely as a result of interaction between the Tax and Customs Board and around 670 entrepreneurs on the subject of incorporation, more people have started to pay payroll taxes and have paid altogether slightly more than one million euros in such taxes in the past eight months, the tax authority said LETA/BNS.
Keyword tags: Estonia, Financial Services, Legislation, Markets and Companies, Taxation
Latvian state-owned Latvijas Dzelzcels railway company will not pay dividends into the state budget from profit in 2015, but will spend its profit on infrastructure investment projects, the government decided on June 28th, cites LETA.
The global capital market turmoil caused by Britain's decision to leave the European Union is unlikely to prompt Lithuanian pension funds to revise their strategies in the near term, the president of the Lithuanian Investment and Pension Funds' Association said on June 27th, cites LETA/BNS.
In a landmark referendum, UK citizens opted to leave the European Union with a lean majority of 51.9% to 48.1% on Thursday, June 24th. The fall out has already hit the markets as the pound plunged to its lowest point in more than three decades. The FTSE 100 shed a historic 8% and £140 billion within minutes of opening on Friday while bank shares like Barclays and RBS plummeted about 30%.
The Seimas committee in Lithuania ia proposes to introduce the requirement for foreigners setting up businesses in Lithuania to pay their employees at least two times the country's average monthly salary, informs LETA/BNS.
The ruling coalition parties in Latvia on June 27th agreed to grant additional EUR 4 million to the government program intended to help families with children buy their first home and also decided to introduce a ceiling on the value of the property to be purchased under the program, Latvian Prime Minister Maris Kucinskis (Greens/Farmers) told he press after the meeting of the ruling parties, informs LETA.
The world's financial markets on June 27th showed signs of stabilization after last Friday's shock reaction to Britain's vote to leave the European Union, but Lithuanian analysts interviewed by BNS say that no fast recovery is in sight, adding that with no good news expected in the near future, the fall is likely to continue, informs LETA/BNS.
The Estonian government is preparing for the eventuality that in connection with Britain's exit from the European Union the period of Estonia's EU presidency will change, Prime Minister Taavi Roivas said on June 27th, cites LETA/BNS.
Rauno Klettenberg, the chairman of the management board of Nasdaq Tallinn AS, who on June 27th announced he would not remain in the position after June 30, is to still continue in the position of chairman of the board of FinanceEstonia, a public-private initative uniting Estonian financial sector businesses, reports LETA/BNS.
The EUR 22 million worth project for modernization of diesel trains in Latvia will not be completed also by the extended deadline on June 30 therefore the Latvian government tomorrow is expected to grant another extension until September 20, 2016, reports LETA.
Commissioner Jonathan Hill responded to modern issues concerning deepening of the single market, building a Capital Markets Union, and supporting strong pensions market in Europe. At the “Pensions Europe Conference”, he claimed that the number of retired people will double in the near future and that pension funds can strengthen EU financial sector.
Rauno Klettenberg, the chairman of the management board of Nasdaq Tallinn AS, has decided to leave his position after the end of his three-year term and his last day in the position will be June 30, 2016, reports LETA/BNS.
The Latvian Competition Council has allowed Austria's Vienna Insurance Group AG (Wiener Versicherung Grupp [VIG]) to take over Latvia's BTA Baltic Insurance Company (BTA Baltic), the competition watchdog informed LETA.
There are opportunities for Latvia to attract the interest of British banks if they choose to move some of their staff to other member states in the wake of Great Britain’s referendum on leaving the European Union (EU), believes Vjaceslavs Dombrovskis, the head of Latvia’s Certus think tank, cites LETA.
While the decision of the United Kingdom to leave the European Union increases uncertainty, it will probably not result in a major decline of the economy, the Bank of Estonia (Eesti Pank) finds, cites LETA/BNS.