A number of foreign leaders wanted to keep Ukrainian refugees who have found jobs and pay taxes in their countries, but return to Ukraine those who are recipients of social assistance, while Ukraine is interested in returning everyone – both those who work and those who do not, President Volodymyr Zelenskyy said.
“They (some foreign leaders – IF-U) themselves differentiated Ukrainians. I’m sorry, but this is how it is – I have all these conversations with them. They count their money, how much they spend annually to support Ukrainians abroad, but those Ukrainians who do not work – they say: you take them away,” he said in an interview with the National Telethon on Thursday evening.
Zelenskiy noted that these leaders and representatives of foreign governments are afraid to publicly voice this position.
“But I will return everyone, not (only) those who do not work for you,” Zelensky emphasized.
He noted that he is asking his partners for “a little more air defense,” and then he is ready to call all Ukrainian refugees to return.
According to the president, after the hot phase of the war is over, a large number of people will want to return. This will be facilitated by the large-scale reconstruction of Ukraine, which will “receive a lot of money”: from business, from frozen Russian assets, from the budget, which will reduce military spending.
“People will come to work… Large projects like the restoration of Ukraine will be supported by a large number of jobs. It is desirable that these are Ukrainians, I think, first of all, they will be Ukrainians,” Zelensky emphasized.
According to updated UNHCR data, the number of Ukrainian refugees in Europe as of December 16 this year was estimated at 6.254 million, and in the world as a whole – at 6.814 million, which is 28 thousand more than on November 18 this year.
According to Eurostat, as of October 31, 2024, 4.2 million citizens who fled Ukraine as a result of the Russian invasion on February 24, 2022, had temporary protection status in the EU. Germany remains the country with the largest number of refugees from Ukraine in the EU and the world by a growing margin – 1 million 140.71 thousand at the end of October, or 27.2% of the total number of beneficiaries in the EU. The top three also includes Poland – 983.88 thousand, or 23.4%, and the Czech Republic – 379.37 thousand, or 9.0%. This is followed by Spain (221.90 thousand), Romania (175.31 thousand), and Italy (165.68 thousand).
Portugal has a developed and multi-level taxation system covering both individuals and legal entities. Let’s take a look at the main taxes in the country.
Taxes for legal entities include:
Taxes for individuals:
Other taxes and duties:
Portugal also offers special tax regimes, such as the “Non-Regular Resident” (NHR) status, which provides benefits for new residents, including reduced tax rates on certain types of income. The Portuguese tax system is characterized by progressive and diverse taxes, which requires careful planning when doing business or moving to the country. It is recommended to consult with professional tax advisors to ensure compliance with current legal requirements and to optimize the tax burden.
Source: http://relocation.com.ua/analiz-osoblyvostej-systemy-opodatkuvannia-v-portuhalii/
Doing business in the Balkans is attractive to entrepreneurs due to the diversity of tax regimes, relatively low operating costs and growing economic opportunities. This report examines key indicators of doing business in eight countries in the region: North Macedonia, Bulgaria, Serbia, Croatia, Montenegro, Kosovo, Albania, Bosnia and Herzegovina.
1. ease of doing business (Doing Business 2020)
Countries are ranked from best to worst:
North Macedonia – 17th place (leader in the region)
Serbia – 44th place
Montenegro – 50th place
Croatia – 51st place
Kosovo – 57th place
Bulgaria – 61st place
Albania – 82nd place
Bosnia and Herzegovina – 90th place
Conclusion: North Macedonia offers the best business environment in the region, while Bosnia and Albania are at the bottom of the list and need to improve their business climate.
2. Tax burden
Countries are ranked by their corporate tax rate (from lowest to highest):
Montenegro: income tax – 9%, VAT – 21%, dividend tax – 9%.
Bulgaria: income tax – 10%, VAT – 20%, dividend tax – 5%
North Macedonia: income tax – 10%, VAT – 18%, dividend tax – 10%
Kosovo: income tax – 10%, VAT – 18%, dividend tax – 0%
Bosnia and Herzegovina: corporate income tax – 10%, VAT – 17%, dividend tax – 5%.
Croatia: corporate income tax – 10%-18%, VAT – 25%, dividend tax – 10%.
Serbia: income tax – 15%, VAT – 20%, dividend tax – 15%
Albania: income tax – 15%, VAT – 20%, dividend tax – 8%.
Conclusion: Montenegro has the lowest tax burden on profits (9%), and Kosovo has no tax on dividends.
3. Registration of a company
State fee: €50-€150
Notary services: €30-€200
Bank deposit: Not required
Conclusion: The process of company incorporation in the Balkans is relatively inexpensive and fast, with minimal bank deposit requirements.
4. Average salary (€ per month)
Countries are ranked in descending order of average salary:
Croatia: €1,150
Bulgaria: €830
Serbia: €770
Montenegro: €730
Bosnia and Herzegovina: € 650
North Macedonia: €640
Albania: €520
Kosovo: €450
Conclusion: The highest salaries are in Croatia (€1,150) and Bulgaria (€830). Kosovo and Albania have the lowest rates, which reduces staffing costs but can make it difficult to find qualified specialists.
5. Office rent (€/m²/month)
The countries are ranked in descending order of rental costs:
Serbia (Belgrade): €15-€25
Croatia (Zagreb): €14-€24
Bosnia and Herzegovina (Sarajevo): €12-€22
Albania (Tirana): €10-€20
North Macedonia (Skopje): €10-€20
Montenegro (Podgorica): €10-€18
Kosovo (Pristina): €8-€15
Conclusion: The most affordable office rents are in Kosovo, while the highest are in Serbia and Croatia.
6. Utilities (office 85 m², €/month)
Countries are ranked in descending order of utility costs:
Croatia: €160
Serbia: €150
Montenegro: €140
Bosnia and Herzegovina: €130
Bulgaria: €130
North Macedonia: €125
Albania: €120
Kosovo: €110
Conclusion: Kosovo remains the most affordable region in terms of utility costs, with Croatia leading the way in terms of the highest costs.
7. Internet and communication (€/month)
The countries are ranked in descending order of internet costs:
Croatia: €35
Serbia: €30
Albania: €25
Bulgaria: €25
Kosovo: €20
Conclusion: The cheapest internet is in Kosovo (€20) and Bulgaria (€25). In Croatia, the cost of the Internet is higher than the regional average.
Final analysis:
To minimize taxes: Montenegro, Bulgaria, Kosovo.
For developed infrastructure and highly qualified employees: Croatia, Serbia.
To start with minimal costs: Kosovo, Albania.
For stability and access to the EU: Croatia and Bulgaria.
The Balkan region offers a variety of business opportunities. The choice of country depends on the specific priorities of the company: whether it is the tax burden, the cost of labor, or operating costs.
On November 20, 2024, Agromat LLC, a national chain of tile and sanitary ware stores, fully placed a public issue of three-year Series I bonds for UAH 100 million.
According to the National Securities and Stock Market Commission of Ukraine, it approved the placement report on December 23.
“The funds to be received as a result of the public offering will be used by the issuer to expand its retail network,” the prospectus said.
According to the prospectus, the nominal interest rate on the bonds, which have three-month coupons, is set at 16.35% p.a. for the first year of circulation, and 3-months for the next two years. UIRD +5.45 p.p. (Ukrainian index of rates on deposits of individuals UIRD3-month +5.45 percentage points (p.p.).
The bonds with a nominal value of UAH 1,000 were placed at par through the PFTS exchange, with state-owned Ukrgasbank acting as the investment manager. The maturity date is from November 16 to 18, 2027.
The nominal interest rate of the previous issue of series H, registered by the National Securities and Stock Market Commission on September 6 this year, was set at 16.5% per annum in the first year of circulation. The bonds were placed between September 30 and October 2, and are scheduled to mature on September 27-29, 2027.
Almost simultaneously, on September 25, 2024, Agromat started to redeem UAH 100 million of G series bonds issued in 2021, which allowed the NSSMC to cancel the registration of this issue on October 24.
“Agromat is engaged in the production and sale of ceramic tiles and sanitary ware, registered in 1993. The issuer operates in 25 outlets, including 10 in Kyiv, including a specialized shopping center for the sale of ceramic tiles and sanitary ware with a total area of over 8 thousand square meters.
According to the prospectus, the company’s co-owners with 28.65% each are CEO Serhiy Voitenko, Oksana Reva and Anatoliy Taday, another 10.05% belongs to Olga Bashota and 4% to Nadiya Rusheliuk.
The company’s revenue grew by 13.5% to UAH 1 billion 506.74 million in the first half of this year, while net profit decreased by 2.8 times to UAH 15.62 million.
According to the prospectus, in 2024, Agromat wanted to increase its net income to UAH 3 billion 263.07 million, in 2025 – to UAH 3 billion 552.53 million, and net profit – to UAH 124.32 million and UAH 135 million, respectively, with assets of approximately UAH 2.64 billion and EBITDA of UAH 297 million.
A large farmers’ protest by representatives of more than 20 agricultural associations and unions in Poland against the “harmful policies” of the European Union is scheduled for Friday, January 3, in Warsaw in front of the European Commission, farmer.pl reports.
“All agricultural organizations in our country will protest against the harmful policy of the European Union, against Ms. Ursula von der Leyen, who imposes such a tone of this policy that will force our farms to close,” Tomasz Obrzanski, chairman of the Solidarity Individual Farmers’ Association, told the publication.
According to him, the five demands of the protesters are directed against the dictates coming from Brussels. The slogan 5 x STOP refers to the agreement with Mercosur, the “green” course, imports from Ukraine, the destruction of Polish forests and hunting, and the destruction of the Polish economy.
The protest is scheduled for the afternoon. The farmers will gather at 14:00 at the EC Delegation in Warsaw. Then they will go to the National Theater, where a gala concert will be held to mark the beginning of Poland’s presidency of the Council of the European Union.
“We’ll start at 14:00 in front of the European Commission Delegation. Then we will march through the streets of Warsaw to the National Theater, where we will also perform on Senatorowa Street. And we will be there until the evening and will meet Ursula von der Leyen with dignity during the inauguration of the Polish presidency, which will officially begin that day at the National Theater,” explained Damian Murawiec, a representative of the Mass National Farmers’ Protest.
The protest was organized by the Agreement of Agricultural Organizations, which unites more than 20 trade unions and associations, including the NPZZ Individual Farmers Solidarity, the Farmers’ Trade Union Self-Defense, the National Association of Sugar Beet Producers, the National Council of Agricultural Chambers, the Farmers and Agricultural Organizations, the Mass National Farmers’ Protest, the Young Farmers’ Movement, the Institute of Agricultural Economics, and others.
The unshadowing of the alcoholic beverage market in 2024 brought an additional UAH 1.9 billion to the state budget of Ukraine compared to 2023, Danylo Hetmantsev, Chairman of the Verkhovna Rada Committee on Finance, Taxation and Customs Policy, said in a telegram channel.
He noted that the payment of excise tax on alcoholic beverages produced in the country increased by UAH 1.7 billion, or 24.4%, compared to 2021. Positive dynamics can also be seen in the growth of VAT tax efficiency: it is 6.88%, or 33.3% more than in pre-war 2021, when it was recorded at 5.16%.
At the same time, revenue from alcoholic beverages increased by 25% in November 2024 compared to January.
Hetmantsev noted that the President of Ukraine signed a bill on taxation of the alcohol market based on the capacity of the plants and expressed confidence that this would not allow the black market to be restored.
The head of the parliamentary committee called the increase in the capacity utilization of distilleries to 87% an important indicator of the de-shadowing of the alcoholic beverage market in 2024. This helped to produce 23.7 million dal of alcohol in 10 months of last year, which is 189% more than in peaceful 2021, when the distillery’s capacity utilization was 60%.
“This meant that all the residual capacity was directed to the bottle without excise duty,” Hetmantsev added.
According to him, the law No. 4014 adopted by the parliament is aimed at ensuring the full payment of excise tax by producers of ethyl alcohol and bioethanol.
“The law makes it economically unprofitable to conditionally “not use” the capacities. It is extremely important that the controllers do not turn a blind eye in the process of fulfilling the requirements of the law,” summarized the Chairman of the Parliamentary Financial Committee.
