Transition in Government and the Economy Remains Vital in CEE

Cloudy skies above the Hungarian Parliament Building Budapest.

As the European Bank for Reconstruction and Development (EBRD) holds its annual meeting in Cyprus, the political and economic landscape across transition economies is perhaps one of the most difficult that the EBRD has faced since the early 1990s. The rise of authoritarian populism, the acceleration of centrifugal forces in Europe, and the emergence of Russia as a source of regional instability have all threatened to unravel some of the hard fought gains seen in Central and Eastern Europe (CEE) and the former Soviet Union (FSU). Continue reading Transition in Government and the Economy Remains Vital in CEE

How Will Poland Approach the Brexit Negotiations?

Brexit means that Poland’s right-wing government is losing its most important EU ally and the opposition warns that the country could end up marginalised on the European periphery. However, the ruling party argues that Warsaw is a leader in debates on the EU’s future and is calling for a re-think of the trajectory of the European project. However, the future status of Poles, living in the UK, could complicate its plans to ensure an amicable Brexit settlement. Continue reading How Will Poland Approach the Brexit Negotiations?

Finalising the DCFTA is Expected to Bring Multiple Benefits to Ukraine

The Deep and Comprehensive Free Trade Area (DCFTA) negotiations between the European Union and Ukraine began in 2018, after the country joined the World Trade Organisation (WTO). Despite having started on the wave of the Orange Revolution of 2003-2004, they were continued, or even accelerated, by President Viktor Yanukovych, who was elected in 2010 and is known for his pro-Russian. Continue reading Finalising the DCFTA is Expected to Bring Multiple Benefits to Ukraine

Will the New Five-day Visa-free Regime Encourage More Visitors to Belarus?

Despite its natural beauty spots and historical sites, Belarus isn’t a top tourist destination. As a matter of fact, it has been one of the least visited countries in Europe. Unfortunately, Belarus remains unknown to both foreign tourists and large-scale international business, primarily because of its visa regime. However, this is expected to change now, as Belarus is striving to overcome this stereotype and 12 February 2017 marks the important day when the visa regime changed. Continue reading Will the New Five-day Visa-free Regime Encourage More Visitors to Belarus?

The CEE Region Is Making Advances in Prioritising Waste-to-Energy Projects

The European Commission has been preparing a technical communication that focusses on waste-to-energy (WtE). It aims to explore the opportunities this offers, particularly with regard to the synergies between resource and energy efficiency. The communication was scheduled to be published at the end of 2016 together with the reviewed Renewable Energy Directive. Continue reading The CEE Region Is Making Advances in Prioritising Waste-to-Energy Projects

Polish Tax Laws — Fighting a Winning Battle Against Tax Evaders

Since the current Polish government came into power, last year, they have advocated the need to tighten up the existing tax system. They maintain that the current situation calls for a system that is more efficient and effective and they are looking to find ways to increase the budget’s income without hiking up the tax rates. They have inherited a tax system from the liberal government, which was in power for eight years (between 2007 and 2015), which is in deep crisis — the tax share of the GDP has fallen from 17 per cent to 14 per cent.  Continue reading Polish Tax Laws — Fighting a Winning Battle Against Tax Evaders

The Capital Markets Union: a New Beginning in the European Financial Sector?

The financial crisis has led to plenty of conclusions in Europe. One among the many is that capital markets and their use for the real economy have been far from optimal. If real improvements could be achieved in this this area in the next few years, then growth could be promoted, alternative financing could be offered, the cost of financing could be lowered and access to funding might be improved. In 2015, the European Commission announced the inception of the Capital Markets Union (CMU) which will be a flagship project from the EU.  Continue reading The Capital Markets Union: a New Beginning in the European Financial Sector?

Are There Differences Between How Tax Regulations in Poland and IAS Treat Intangible Assets?

These days, there isn’t a company that would not acquire intangible assets. Tax regulations in Poland, just as in other European countries, define intangible and legal assets in a different way to accounting regulations. In addition to this, balance sheet amortisation can also be done in a different manner: independent of tax depreciation. So, in these cases, companies use depreciation rates as they are stipulated in tax regulations if this is possible, and legal. However, they do need to calculate a deferred tax, using the temporary differences between the accounting and tax depreciation and intangible assets value.  Continue reading Are There Differences Between How Tax Regulations in Poland and IAS Treat Intangible Assets?