Search Results for: Member States
New Tax rules for transparency into force as of 1 January 2017
January 5th, 2017
With an announcement published on 3 January 2017 the European Commission has welcomed the entry into force of new rules to ensure that Member States have all the information they need on tax rulings given to multinational companies in ...
28.7% of EU GDP spent on social protection
December 28th, 2016
Since 2011, social protection expenditure in the European Union (EU) has increased slightly, from 28.3% of GDP in 2011 to 28.7% in 2014, according to data from Eurostat, the statistical office of the European Union. In 2014, the two ...
CySec announced Continuance of suspension and commencement of proceedings for the possible withdrawal of a CIF license
December 20th, 2016
Following the announcement dated 29th September 2016, the Cyprus Securities and Exchange Commission (CySec), after a decision at the meeting dated 28th November 2016, announces that the authorisation of the Cyprus Investment Firm Best Choice FBC Ltd (‘the Company’), ...
Central Bank of Greece forecast a strengthening of growth for 2017
December 16th, 2016
Today, in accordance with its Statute, the Bank of Greece submitted its Interim Report on Monetary Policy 2016 to the Speaker of the Greek Parliament and the Cabinet. Progress with the implementation of the programme and with economic recovery ...
Germany accused of strangling EU tax transparency
December 13th, 2016
A German-led group of EU states is trying to strangle plans for greater tax transparency, amid the restart of an iconic whistleblower case. Germany was accused of leading the behind-the-scenes attack on a European Commission proposal to raise transparency ...
Three major Banks fined €485 million for Euribor fix cartel
December 7th, 2016
The European Commission has fined Crédit Agricole, HSBC and JPMorgan Chase, a total of € 485 million for participating in a cartel in euro interest rate derivatives. The banks colluded on euro interest rate derivative pricing elements, and exchanged ...
FCA is proposing stricter rules for firms selling ‘contract for difference’ (CFD) products to retail customers
December 6th, 2016
The Financial Conduct Authority (FCA) is today proposing stricter rules for firms selling ‘contract for difference’ (CFD) products to retail customers to improve standards across the sector and ensure consumers are appropriately protected. Contracts for differences, such as spread ...
Fraud involving VAT on goods costs EU tax payers an estimated €50 billion a year
November 25th, 2016
VAT reform: how MEPs intend to tackle the €50 billion a year fraud Fraud involving VAT on goods exported to other member states costs EU tax payers an estimated €50 billion a year. The European Commission has come up ...
Oil prices fall on strong dollar, trading thin ahead of OPEC meeting
November 25th, 2016
Oil prices fell on Friday, under pressure from a strong dollar, but activity was low after the U.S. Thanksgiving holiday and as many traders are reluctant to take big new positions ahead of a planned OPEC-led crude output cut ...
CySec suspends the license of a Cyprus Investment Firm
November 24th, 2016
The Cyprus Securities and Exchange Commission (‘CySEC’) announces that the authorisation of the Cyprus Investment Firm ‘PFX Financial Professionals Ltd’ (‘the Company’), with number 193/13, is suspended, pursuant to section 26(2) of the Investment Services and Activities and Regulated ...
