Search Results for: Portugal

AFTER a difficult few years brought about by a global economic recession, Portugal’s footwear and clothing industries is growing and underpinning the country’s business recovery.
Last year (2014) the country’s shoe exports hit a record high of around 89 million pairs sold overseas, bringing in EUR1.8 billion (USD2.06 billion) in receipts according to the Portuguese Association of Industrial Footwear, Accessories, Leather Goods and Substitutes (APICCAPS), helping a country still recovering from crippling government austerity measures.…

BRUSSELS DETAILS UPCOMING EU VAT REFORMS

THE EUROPEAN Commission has released a statement outlining the subject of planned VAT legislative proposals to be made next year (2016). These will reduce the administrative burden on businesses through VAT regimes varying between European Union (EU) member states.…

THE EUROPEAN Commission has proposed a European Union (EU) directive that would force EU member states to automatically share information about their tax rulings. Under the proposals, national tax authorities would every three months send a short report to all other member states on all their cross-border tax rulings.…

THE EUROPEAN Commission may block or impose conditions on a planned acquisition by US-based Cargill of the industrial chocolate business of its American rival Archer Daniels Midland (ADM). The European Union (EU) executive’s directorate general for competition has opened an in-depth investigation into the deal, to assess whether it could damage the availability of reasonably priced supplies of this key confectionery input.…

The UK is lagging behind many other European Union (EU) member states when it comes to energy efficiency and is fiddling the figures to show it is making better progress than in reality, according to the latest report from the Brussels-based Coalition for Energy Savings.…

GERMAN-made automobiles were the largest source of reports regarding potentially dangerous motor vehicles made to the European Union’s (EU) RAPEX consumer alert network in 2014, analysis of its data shows.
There were 194 notifications to the system relating to automobiles and parts last year, the fourth largest category following toys (650), clothing and textiles (530) and electrical appliances (217).…

THE EUROPEAN Commission has proposed a European Union (EU) directive that would force EU member states to automatically share information about their tax rulings. Under the proposals, national tax authorities would every three months send a short report to all other member states on all their cross-border tax rulings.…

MEXICO represents a powerful investment opportunity as the second largest consumer of ‘beauty and personal care products’ (BCP) in Latin America, after Brazil. While a relatively mature BCP market makes growth a creative challenge, the country is increasingly popular as a location for BCP production facilities.…

SWITZERLAND could soon be recognised as a country fully compliant with international standards on releasing tax information to fight global tax evasion.
The Organisation for Economic Cooperation & Development’s (OECD) Global Forum on Transparency and Exchange of Information for Tax Purposes has ruled Switzerland has made sufficient reforms to receive its ‘Phase 2’ peer review.…

ADDITIONAL pressure is being placed on Macao anti-money laundering (AML) authorities to reduce the illicit flow of money between the Chinese special administrative region (SAR) and mainland China. This month (February 2015), officials from mainland China’s ministry of public security (effectively the police force) have this month been meeting Monetary Authority of Macao (AMCM) officials to set up a system that monitors transactions through UnionPay (China’s state-owned card payment clearing company) in Macao.…