Financial Services

International Internet Magazine. Baltic States news & analytics Wednesday, 29.06.2016, 03:03

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Estonia cuts impact of tax evasion through incorporation by EUR 1 mln in 8 months

Estonia cuts impact of tax evasion through incorporation by EUR 1 mln in 8 months

28.06.2016

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



Latvijas Dzelzcels railway company not to pay dividends from 2015 profit

Latvijas Dzelzcels railway company not to pay dividends from 2015 profit

28.06.2016

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.

Lithuanian pension funds unlikely to revise their strategies due to Brexit

Lithuanian pension funds unlikely to revise their strategies due to Brexit

28.06.2016

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.


Real estate markets could wobble as UK votes to leave the EU

Real estate markets could wobble as UK votes to leave the EU

28.06.2016

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%.

Lithuania mulls requiring foreign business founders to pay 2 times average wage

Lithuania mulls requiring foreign business founders to pay 2 times average wage

28.06.2016

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.

28.06.2016

Extra EUR 4 mln to be granted to first-time home buyer program in Latvia

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.

28.06.2016

Lithuanian analysts: markets stabilize after Brexit shock

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.

28.06.2016

Estonia preparing for changed period of EU presidency

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.

28.06.2016

Klettenberg to continue as head of FinanceEstonia

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.

27.06.2016

Further delay in upgrading of diesel trains for Pasazieru Vilciens in Latvia

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.

27.06.2016

EU assistance for stronger pension market in the member states

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.

27.06.2016

Head of Nasdaq Tallinn to leave position

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.

27.06.2016

Vienna Insurance Group in Latvia allowed to buy BTA Baltic Insurance Company

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.

27.06.2016

Vjaceslavs Dombrovskis: Latvia might attract interest of British banks

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.

27.06.2016

Eesti Pank: UK decision probably won't lead to economic decline

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.

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