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Sir, Regarding ‘Commission to fight VAT fraud schemes‘: The principle that you can reclaim money when you fill in a tax report is the real cause of the fraudulent situation. It should be replaced with a simple tax on turnover, with no claiming back. Olle Ekengren Private citizen

This story about the Europe 2020 strategy was published by EurActiv on 19th March 2010. In a meeting with the president of the European Council, Herman Van Rompuy, the Spanish, Belgian and Hungarian labour ministers, representing the current and upcoming rotating presidencies of the EU, discussed the fundamental differences between EU social and finance ministers,… » read more

This story about the proposed European Monetary Fund was published by EurActiv on 18th March 2010. Policymakers are debating whether a proposed ‘European Monetary Fund’ would require changes to the EU’s Lisbon Treaty, as predicted by German Chancellor Angela Merkel. The EU executive believes it would, while politicians on the margins say it would not.… » read more

This story about the 3% R and D target was published by EurActiv on 17th March 2010. EU finance ministers are fighting against the European Commission’s target of spending 3% of GDP on research and development (R&D), demanding a new “outcome-oriented” measure of success. The 3% figure is one of five headline goals of the… » read more

The US Treasury, in its semi-annual report delivered every April and October, can formally label China as a “currency manipulator” on account of the yuan’s substantial undervalue. This would allow the Department of Commerce to impose countervailing duties on a wide range of Chinese products. US Treasury Secretary-designate Timothy Geithner told the Senate Finance Committee… » read more

eXtensible Business Reporting Language (XBRL) is a tool designed for the digital communication and presentation of financial and business data. It has been developed to allow users throughout the world to easily access timely accurate and relevant financial information from both world-wide and local organisations. However, although internal use and basic forms of digital reporting… » read more

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