Energy imports, forecast, billion dollars
Open4Business.com.ua
Insurance company Busin (Kyiv) in January-September 2024 collected UAH 160.6 mln of gross premiums, which is 6.98% less than in the same period of 2023.
It was informed by the rating agency Standard-Rating in the information on updating of credit rating/rating of financial stability of the insurer at the level of “uaAA+” according to the national scale on the basis of the analysis for the specified period.
At the same time receipts from reinsurers have decreased by 22,75% – to UAH 29,186 mln.
Insurance payments sent to reinsurers have increased by 61,35% to UAH 178,299 mln in the nine months of 2024 compared to the same period of 2023. Thus, the ratio of reinsurers’ participation in insurance premiums increased by 47.02 p.p. to 111.03%.
Net premiums for the mentioned period of 2024 amounted to UAH 17,706 mln, and net earned premiums – UAH 25,694 mln. During this period the company has paid to its clients UAH 31,869 mln of insurance payments and indemnities, which is more than 44 times higher than the volume of insurance payments for the same period of 2023. Thus, the level of payouts has increased by 19,42 p.p. – To 19.84%.
Assets of the company as of October 1, 2024 have decreased by 4,89% – to UAH 298,706 mln, shareholders’ equity has decreased by 18,30% – to UAH 161,156 mln, liabilities have increased by 17,75% – to UAH 137,55 mln, cash and cash equivalents have increased by 26,51% – to UAH 322,196 mln.
IC Busin has been registered in February, 1993. It specializes on risk types of insurance. It is a member of a number of professional and branch associations – League of Insurance Organizations of Ukraine, Insurance Payments Club, International Association of Aviation Insurers (UA), Nuclear Insurance Pool, American Chamber in Ukraine, British Business Club.
Forecast of power system capacity deficit, %
Open4Business.com.ua
Ukraine is planning to complete a large-scale reconstruction of the international road border crossing point (IRCP) Yahodyn (on the border with Poland) by 2028. According to the Operational Plan of the Border Infrastructure Development Strategy with EU countries and the Republic of Moldova until 2030, posted on the website of the Cabinet of Ministers, it is planned to build a terminal, a bridge crossing over the Western Bug River, parking lots for trucks, reconstruction of access roads.
It is planned to allocate UAH 400 million – half of the necessary amount of UAH 850 million – for the construction of the terminal at PP already in 2025. The remaining 450 million UAH will be financed in 2026, including at the expense of international technical assistance.
In addition, “reconstruction of the existing section” is envisioned, for which UAH 5 million of the required UAH 868 million has been allocated in 2024. In 2025 it is planned to allocate UAH 65 million, in 2026 – UAH 400 million and the same amount in 2027. The works will be financed from the state budget and international technical assistance.
At IACP “Yahodyn” in 2025 will be introduced a video monitoring system “Traffic Management System”, for which 150 million UAH will be allocated at the expense of international technical assistance. In addition, the purchase of a scanning system of mobile type with portal scanning function will be completed by the end of 2025. For this purpose 55.4 million UAH will be allocated at the expense of the loan of the Republic of Poland. The first tranche – 55.4 million UAH for the purchase of the system was allocated in 2024.
The project of reconstruction of IACP “Yagodin” provides for the construction of a new bridge crossing over the river Western Bug – 1.5 billion UAH. For the realization of this project it is planned to allocate UAH 20 million in 2025, UAH 500 million in 2026, UAH 500 million in 2027 and UAH 480 million in 2028, including at the expense of international technical assistance.
In addition, it is envisaged to overhaul the public highway of state importance M-07 and the approaches to the auto terminals of Yagodyn No. 2 and Yagodyn No. 3. In 2025, UAH 236.09 million out of the required UAH 236.66 million will be allocated for the implementation of this project, including at the expense of EU technical assistance, in particular, the CEF project (covers 50% of project needs – IF-U). In 2024, UAH 0.56 mln was allocated for the project implementation.
Among other things, the construction of new parking lots for trucks is envisaged, for which UAH 179.8 million will be allocated in 2025 and UAH 227.9 million in 2026, including at the expense of CEF mechanisms. In 2024, UAH 3.74 million out of the required UAH 411.16 million has been allocated for the project implementation.
Reconstruction and overhaul of the M-07 Kyiv-Kovel-Yagodin highway with a length of 69.9 km is envisaged. In 2026 it is planned to allocate UAH 2.5 million, in 2027 – UAH 4.5 million and another UAH 4.5 million in 2028 out of UAH 11.5 million required for the realization of this project. Funding will be provided from the state budget.
Spain has a multi-level taxation system that includes state, regional and municipal taxes. Let us consider the main taxes in force in the country at the end of 2024 – beginning of 2025.
Let’s start with taxes for individuals:
Income tax (IRPF ) – a progressive scale of rates is applied, consisting of federal and regional parts. The federal (central) part of the rates includes:
Regional authorities set additional rates, which may vary depending on the autonomous community.
Thecapital gains tax is variable, and gains from the sale of real estate and other assets are taxed at the following rates:
Real estate tax (IBI): An annual tax whose rate varies from 0.4% to 1.1% of the cadastral value of the property, depending on the municipality.
Wealth tax: Applies to individuals with net assets above a certain threshold, with progressive rates ranging from 0.2% to 3.5%, depending on the region.
Taxes for legal entities:
Corporate income tax (Impuesto sobre Sociedades): The standard rate is 25%. For small businesses with a turnover of less than €1 million, there is a reduced rate of 23%. New companies can apply the 15% rate for the first two years of profitable activity.
Value added tax (IVA):
Other taxes and duties:
Inheritance and gift tax: Progressive rates from 7.65% to 34% apply, but rates and exemptions may vary significantly from community to community.
Property Transfer Tax (ITP): Charged on the purchase of second-hand real estate, the rate is usually around 6-10% of the value of the property, depending on the region.
Social contributions: Employers and employees are required to make social security contributions. The general rate for the employer is about 29.9% of the employee’s salary, and for the employee – about 6.35%.
The Spanish tax system is characterized by progressive and diverse taxes, which requires careful planning when doing business or living in the country. It is recommended to consult with professional tax advisors to ensure compliance with current legal requirements and optimize the tax burden.
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Average price per hectare of land in 2023, UAH
Open4Business.com.ua
