Estonia planning to increase the threshold for registering as a VAT payer Jul 27

There are plans to increase the threshold for registering as a VAT payer and to extend the circle of objects of domestic reverse charge procedure in Estonia.
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Amendments to the Latvian VAT act Jul 20

As of 1 July 2016, Latvia has introduced amendments to the VAT Law on special VAT treatment of cereals and industrial crops supplies. Henceforward, consignee will pay VAT on domestic supplies if the transaction will take place between VAT payers in Latvia. The adopted amendments are aimed to reduce VAT fraud in cereals industry.
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Canada Signs Landmark Free Trade Agreement With Ukraine Jul 13

On 11th of July, Canada's Prime Minister Trudeau, Ukraine’s President Poroshenko and Prime Minister Groysman witnessed the signing of the milestone Canada-Ukraine Free Trade Agreement (CUFTA).

The Agreement is part of Canada’s continued commitment to supporting Ukraine’s efforts to build a stable, democratic, and prosperous country.

Both Canada and Ukraine are committed to the timely ratification and implementation of CUFTA – so that Canadians and Ukrainians alike can take advantage of its benefits as soon as possible.

Quick Facts

  • In 2015, Canada and Ukraine announced the conclusion of the Canada-Ukraine Free Trade Agreement (CUFTA) negotiations.
  • Canada’s International Trade Minister, Chrystia Freeland, and Ukraine’s First Vice Prime Minister and Minister of Economic Development and Trade, Stepan Kubiv, signed the Agreement in Kyiv during Prime Minister Trudeau’s first official visit to Ukraine.
  • Ukraine offers numerous opportunities for Canadian businesses and investors, in areas such as information and communication technologies, agriculture, infrastructure and logistics, aerospace, defence and security, and energy.
  • In 2015, bilateral trade between Canada and Ukraine increased by 13.9 per cent over 2014, totalling almost $278 million. Canada’s exports to Ukraine totalled over $210 million in 2015. Examples of products imported by Ukraine include pharmaceuticals, fish and seafood, and coking coal.
  • Canada’s merchandise imports from Ukraine totalled more than $67 million in 2015. Major imports included fertilizers, iron and steel, and anthracite coal.
  • Now that the Agreement has been signed, Canada and Ukraine will go through their respective domestic legislative processes to ratify and implement the Agreement.

https://issuu.com/mineconomdev/docs/cufta_20presentation 

Source: Prime Minister of Canada, Justin Trudeau's office, News Releases.
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Change for new entrepreneurs in Poland Jul 06

From 19 May 2016 the provisions came into effect which enables new entrepreneurs to register for insurance ZUS at the stage of company registration in CEIDG (Central Registration and Information on Business).
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The National Bank of Ukraine brings down the limit for the obligatory sale of currency  Jun 29

The National Bank of Ukraine (NBU) relaxed currency limitations, in particular, bringing down the limit for the obligatory sale of currency from 75 to 65%.
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Recovery of VAT paid in other EU Member States - guidelines for Latvian companies Jun 22

If your company is registered as a VAT payer in Latvia and the costs incurred for ensuring economic activity in other EU Member States, there is a possibility that you are eligible for full or partial recovery of VAT paid.

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Estonia - the first country in the world to offer foreigners e-residency Jun 15

The status of an e-resident is advantageous for entrepreneurs, foreign employees, members of the managing bodies of companies operating in Estonia and people holding shares in Estonian companies as well as for electronic identification and accessing e-services.
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State social insurance compulsory contributions to be charged from minimum salary in Latvia Jun 08

As of 2017, the minimum charge of state social insurance contributions (SSIC) has been defined according to the amendments to the Law "On State Social Insurance". The aim of the new regulation is to focus on quality of life to be ensured in case of occurrence of social risk as well as protection of interests of members of the state social insurance system which income exceeds the minimum salary in Latvia.
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