Economic globalization

Even if the EU and its member states have the leadership skills to weather looming storms — from a US-China trade war to rising tensions in the Middle East — the reasons for Europe's recent travails should not be forgotten.

Only through self-reflection can the EU rejuvenate its standing in Europe and the rest of the world.

In a bid to crack down on tax evasion to the tune of 7 billion euros a year in value-added tax alone, the government is mulling plans to encourage taxpayers to increase online and card transactions so as to increase their tax free threshold.

According to reports, the relevant legislation will be included in a tax bill that will be submitted to Parliament in mid-October.

By the end of next week, the Finance Ministry will have its tax bill ready, which besides tax-easing measures will also include incentives for individuals and corporations active abroad to transfer their tax residency to Greece.

The outsourced industry is among the best employers in Bulgaria. The outsourcing sector in Bulgaria accounts for 2.4% of the country's labor market, employing more than 67,300 people, and by 2021 their number is expected to exceed 79,000 people. This shows the data from the last annual report on the development of the Bulgarian Outsourcing Association's industry, quoted by technews.bg.

The 1st Southeast European Innovation, Technology and Sourcing Summit took place with the active support of the Small and Medium Enterprises Promotion Agency and with great interest from the business.

Greek property owners are among Europe's most heavily burdened by taxes, according to a study by Washington-based think tank the Tax Foundation that examines the tax burden on ownership and its ratio to all tax revenues.

While the framework cooperation agreement, which led to the Left indirectly backing the appointment of the new cabinet last September, will remain only initialled for now, the plan for 2019 is proceeding from initials to signatures as a key vote on the 2019 budget is due on Wednesday.

In the pre-election period that Greece has entered, one hears plenty of grand declarations from politicians. Some, for instance, are about how to defeat neoliberalism, and others concern safeguarding the endangered European culture.

One thing was certain at this year's World Economic Forum: Davos and its values are in a state of deep crisis. The decline had become evident even before the start of the annual conference that sees the global elite gather in this lofty village in the snowy Swiss Alps, thanks to a letter penned and published by the WEF's founder, Klaus Schwab.

The world's 26 richest people own the same wealth as the poorest half of humanity, Oxfam said Monday, urging governments to hike taxes on the wealthy to fight soaring inequality, reports AFP.