Search Results for: Hungarian

Eastern Europe is often a region of diversity when it comes to paint and coatings sector trends, but in the past year, the Covid-19 pandemic has impacted most sectors in a similar way. They experienced booms in DIY decorative sales, weaker industrial coating sales and are mow struggling with increased input costs.…

THE EUROPEAN Union (EU) has authorised its EUR181 million anti-fraud programme for 2021-27, with a regulation mandating this spending coming into force on April 29. The new seven-year programme will see EUR114 million spent on preventing and combating fraud, corruption and other financial crimes that can damage the overall EU budget.…

THE EUROPEAN Union’s (EU) financial watchdog has stressed how the EU needs to simplify its spending systems, which would make fraud is tougher to commit and easier to detect. The EU Court of Auditors has formally issued an ‘adverse opinion’ on the audited expenditure during 2019 of the 27-country union.…

THE UNITED Nations’ Food & Agriculture Organisation (FAO) has proposed creating a permanent ‘observatory’ monitoring cocoa markets, assessing value and costs, to help chocolate sales revenues be more equitably distributed throughout supply chains.

In a report called a ‘Comparative study on the distribution of value in European chocolate chains’, the FAO said such “objectified and cross-checked data” would aid “a multi-stakeholder discussion” at national and global levels on revenue sharing.…

A MAJOR expansion in collecting sales information within the digital economy across the European Union (EU) and beyond has been proposed by the European Commission, to crack down on widescale tax evasion.

The EU executive has proposed reforms to an EU directive on administrative cooperation between tax authorities (see https://ec.europa.eu/taxation_customs/sites/taxation/files/2020_tax_package_dac7_en.pdf)…

HUNGARY continues to be an attractive market for tobacco majors, with its populist government seemingly determined to fight the European Union (EU) for the right to keep excise duties below EU mandated  minimums, and the fact that, according to the OECD Country Health Profile 2019 official data (https://read.oecd-ilibrary.org/social-issues-migration-health/hungary-country-health-profile-2019_4b7ba48c-en#page1…

While most so-called ‘deep-fake’ technologies today have been used to spread fake images, videos and voice recordings of politicians, famous actresses and other public figures, a publicly-reported case emerged last year [2019] in which this advanced technology was leveraged to enhance cybercrimes such as financial fraud, identify theft, ransom and extortion requests, espionage and business email compromise scams.…

HUNGARY has been making progress in developing its anti-money laundering and combating the financing of terrorism (AML/CFT) legislation. But the European Commission is unhappy with its progress on implementing the European Union’s (EU) fourth and fifth anti money laundering directives. It sent a formal notice on February 12 that Hungary had failed to pass any legislation writing the AMLD5 law into the Hungarian statute book, and claims Budapest’s compliance with AMLD4 is partial.…

SLOVAKIA may have been facing European Commission legal action over foot-dragging in implementing European Union EU AML/CFT legislation and has been striving to improve its AML/CFT weaknesses, but its general reputation in combating money laundering is solid. The Basel Institute of Governance AML Index 2019 ranked this central European country 109 out of 125 countries assessed, with the highest number being the top performer.…

GLOBAL and regional public policies promoting environmental good practice and fighting climate change have long encouraged the growth of renewable energy production. And with concern about global warming sharpening, these goals – pushed by international and regional organisations and development banks – are here to stay.…