Nowadays, organizations are facing broader pressures created by the rate of technological change, the proliferation of risk and because there is a more complex environment for decision making.
In this context, finance leaders need to be well prepared and have broad knowledge across all areas of the finance value chain. In order to ensure performance is on track, they need to ask the right questions when it comes to reporting, risk, assurance, compliance and strategy.
Also, they need to be able to drive performance and to assure themselves that their organization is compliant and it fully manages all the …
SEPA means Single Euro Payment Area and it is an initiative of the European banking industry that makes all electronic payments across the euro area (e.g. by credit card, debit card, bank transfer or direct debit) as easy as payments are within one country.
This project is strongly supported by the European Central Bank and by the European Commission.
On a practical level SEPA allows you to make fast and secure transfers between bank accounts anywhere in the euro area, while if you are shopping abroad you are able to use your bank debit card to make a payment in euro, …
As early as the dawn of the 20th century, the chief prosecutor in the famous novel Rokonok (“Relations”) by Zsigmond Móricz already said that “there is but one problem in Hungary, and indeed, an enormous problem: the people of Hungary do not like paying taxes … no one does”. Apparently, the situation is quite the same almost a century later. People still find that taxation is a kind of forced deprivation from property without any direct service in return, instead of thinking of taxes as their contribution to the production of public goods for the overall benefit …
An income tax is a tax perceived on the income of individuals. Various income tax systems exist, with varying degrees of tax incidence.
Income taxation can be progressive, proportional, or regressive and often tax the total income of the individual, with some permitted deductions.
Personal income tax is often collected on a pay-as-you-earn basis, with small corrections made soon after the end of the tax year. Personal income tax varies in value from country to country, national governments remaining in control of raising this tax, EU only keeps an eye, so that they are …
2012 brought changes to VAT tax rates across Europe. Most changes are effective from January 1, 2012, while some European countries have already announced changes to VAT rates, coming into effect later, during 2012.
Bulgaria proposes 1% VAT cut, to the existing 19% VAT in place. Cyprus proposed 2% VAT increase in 2012. The Czechs submitted a VAT cut proposal for 2013, while their Reduced VAT rate increased starting January, to 14%. France also anticipates a raise of the French standard VAT Rate in 2012.
In December 2011, Italy announced the second austerity VAT rise of 2%, from 21% …