The Corporate Income Tax Act (“CITA”) aim to transpose the rules for exit taxation, described in Art.5 of Council Directive 2016/1164 of the European Union (“ATAD”). Exit taxation applies when a legal person (company) transfers assets or activity or its tax headquarters outside or within another EU member-country. The term ‘asset transfer’ indicates the act …
Glossary Economics & Finance
The role of this glossary is to present brief definitions of most of the key concepts in economics and finance (in total 1064 names-definitions) as well as security markets (financial, capital, money) with aim the reader to be able to understand and become familiar with the terminology in the analyses that will present in the …
Innovation as a Leader in Economic Development and What Is Needed to be Successful
Innovation is commonly defined as the “carrying out of new combinations” that include “the introduction of new goods, … new methods of production, … the opening of new markets, … the conquest of new sources of supply … and the carrying out of a new organization of any industry”. (Wikipedia). So, when innovative ideas are …
The Adjustment of International Accounting Standards to External Factors Affecting Business
The main means of analysing a company’s financial situation is their published financial statements. through them, financial analysts and investors receive substantial and reliable information. The challenges that companies now face in compiling their published financial statements are several with particular emphasis on external factors such as a global financial crisis, a pandemic (e.g. Covid-19) …
The Nightmare in the Global Fare Market in VLCC ships
Last year (2020) due to the Covid-19 pandemic that swept the world, the VLCC (Very Large Crude Carriers-the longest ship ever built) with a capacity of more than 300000 tons dw offered record profits of $240,000 a day as demand was huge for oil supply and storage due to the low price of oil. VLCC …
The Development of an Economy Is Also Based on attracting Parent Multinational Companies and Holding Companies
Multinational companies operate in different countries around the world. That is why they have the option to choose from which country to make and monitor their investments. Their investments in foreign subsidiaries may be made either by the parent company of the group or through a holding company. What country the holding company will be …
DAC 6: The EU Council Directive 2011/16 to Enhance Transparency and How It Works
The EU has adopted Directive 2018/822 known as cross border-tax regulations, known as DAC6, which member countries are obliged to incorporate into their fiscal legislative framework. This Directive aims to enhance transparency and exchange of information between member countries on combating cross-border aggressive tax planning. by Thanos S. Chonthrogiannis ©The law of intellectual property is …
The Reasons Why Inequality Between Rich and Poor Countries Is Constantly Increasing
As the Food and Agriculture Organisation of the United Nations (FAO) has recently pointed out, low-income countries with few resources, weaker public health, social protection, hygiene, and problematic public services than developed countries are facing exceedingly difficult situations in dealing with the health crisis and its economic impact. by Thanos S. Chonthrogiannis ©The law of …
Commodity Prices at New Heights for 2021
Given that the Covid-19 pandemic caused the cessation of all kinds of travel, it made sense that demand for oil would drastically reduce during the pandemic (2020). But other commodities have had particularly good returns over the past year. Low interest rates have made priceless metals such as gold valuable and incredibly attractive, passing $2000 …
Options Market
According to Options Clearing Corporation (OCC- www.theocc.com ) the world’s largest equity derivatives clearing organisation, achieved in 2020, clears record 7,52billion total contracts and 7,47billion options contracts. A total volume up 71% from a year ago and a rise more than 50% from 2019. What is an option contract An option is a contract between …