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ECONOMICS

Wednesday, 13 March 2019 11:53

EU ABONDED ITS PLANS FOR DIGITAL TAX

Member states failed to reach an agreement. Ministers will now work towards reforming digital taxation on a global level — spearheaded by the OECD — by 2020. The move to be welcomed by tech giants such as Google and Facebook, which faced a proposed 3% levy. France, Italy, Spain plan to introduce taxes on a national level.
Thursday, 07 March 2019 06:45

FRANCE UNVEILS 3% TAX ON DIGITAL GIANTS

It is the first in an expected wave of European levies aimed at big tech companies. The so-called GAFA tax — named after its targets Google, Apple, Facebook and Amazon — will apply to firms with global annual revenues of over €750 million and French revenues over €25 million. It’s expected to raise around €0.5B a year. The move comes amid…
Money sent home by Ukrainians working abroad totaled $5.5 billion during the first half of this year, up 31% year over year. For the 12 months ending in June, Ukrainians sent home $11 billion, the National Bank of Ukraine calculated. This is 10% of Ukraine’s $112 billion GDP.
The bank, nationalized in 2016, is holding a competition among Ukrainian and international companies. Privatbank has set a minimum $37M price for its share of the Radisson Blue Resort Bukovel hotel, and a minimum $78M price for its share of the Bukovel ski resort.
The $280M bridge from Orlivka (Ukraine) to Isaccea (Romania) would cut 2 hours off the drive from Odesa to Turkey and would be part of the European E87 highway. On Friday, President Poroshenko of Ukraine and PM Borisov of Bulgaria inspected repairs on the Odesa-Reni stretch of the road. With upgrades on this 320 km highway nearly complete, the freight traffic…
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