What an ideal tax amnesty should look like? Some are opposed to it in principle, as it is, in their view, rewards those who broke the law. Others believe that maximum revenues should be the main goal. The Organization for Economic Cooperation and Development (OECD), taking into account both positions, offered an amnesty, which would become less expensive for the tax evaders, than if they had been...

The strongest Italian banks, insurers and asset managing companies agreed with the authorities to establish a fund with volume of € 5 billion. These funds will be used to assist the poor credit institutions. The decision was made amid growing investors’ anxiety about stability of the banking sector belonging to the eurozone's third largest economy. In particular, concerns are triggered by a...

‘Panamagate’ has caused a new tidal wave against offshore companies. EU has already promised to introduce sanctions against jurisdictions that refuse to share information. US impeded withdrawal of corporate headquarters from the country through offshore jurisdictions schemes: US President Barack Obama has said that this measure will be beneficial for "everyone, not just people who find themselves...

Venezuelan authorities declared Friday public holidays for the next two months. The decision was taken within a plan to reduce energy consumption, which also stipulates that hotels and shopping malls use their own power generators. Such problems in Venezuela are linked with severe drought - a big part of the electricity is produced by HPP.ns ordered to to relax on Fridays. Venezuelan President...

According to human rights organization Amnesty International, at least 1634 people were executed in the world during 2015. This is 54% more than the year before, and is the highest figure for the last 25 years. Leaders by the number of executions were Iran, Pakistan and Saudi Arabia. China, which Amnesty International’s report calls the "chief executioner", is not included in there because of a...

According to The Financial Times, Saudi Arabia aims to inhibit the growth of Iranian oil exports, limiting the access of Iranian oil tankers in the Saudi Arabian ports. Iran has quite actively increasing oil production and exports after the abolition of sanctions. Earlier, Saudi Arabia announced that it will not freeze its own oil production unless Iran agree on the same condition. According to...

In Stockholm, you can pay a street hawker with a credit card; in Copenhagen you can buy a single shot espresso with a smartphone; in Helsinki, you can go grocery shopping without a wallet… Yet while this futuristic utopia and cashless society may benefit financial institutions and big businesses, customers won’t be included in that.

Google's representatives reported that an Android mobile app developed by Taliban movement has been removed from Google Play online store. A public organization specializing in monitoring the activities of jihadist organizations on the Internet reported about the application on Friday. Late last night, Google’s representatives confirmed to US media the company has removed from Google Play online...

Yesterday, French citizens held mass protests against changes in labor laws that provide simplification of the workers’ dismissal procedure and possibility of extending the standard 35-hour work week. Several hundred thousand people came out to the streets of French cities, and more than 100 people were detained after clashes with the police. On Thursday, hundreds of thousands of French people...