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Customs union endorses new “Customs fraud” agreement

BERLIN: COREPER, the EU’s Permanent Representatives Committee, has approved an agreement with the European Union aimed at cracking down on customs fraud. The agreement proposes a series of updates to the current rules on the anti-fraud system. The objective is to enhance supply chain security at EU and national levels. In turn, this should better protect the financial interests of ... Read More »

Belgium, Germany, France and Netherlands shrink wage gap to 2.9%

BRUSSELS: The wage gap between Belgium and its three biggest neighbours, Germany, France and the Netherlands has been reduced to 2.9 percent in the past two years. The following two years 2013–2014 saw a 25 percent drop to 2.9 percent, it turns out. The improvement is due to the fact that wages in for example Germany saw a faster increase ... Read More »

Antwerp Port aims to increase barge transport share to 42% by 2030

Brussels: The port of Antwerp aims to increase the share of barge transport in the modal mix from the present 36% to 42% by 2030. Barge transport plays a crucial role in maintaining sustainable links with the hinterland and underpinning the logistics goods flow. Not surprisingly, therefore, Antwerp Port Authority has for some years played a pioneering role to streamline ... Read More »

EU to entend tax ruling reforms to all member states

BRUSSELS: The Commission said that it will now ask all member states to provide information about their tax ruling practices. Member states will be asked to confirm whether they provide tax rulings and, if they do, to provide a list of all companies that have received a tax ruling from 2010 to 2013. EU competition Commissioner Margrethe Vestager said: “We ... Read More »

Belgium: Fortum Co pays EUR 38m taxes in 3 years

BRUSSELS: The authorities audited Fortum’s financing companies in Belgium and Holland for 2008 – 2011. For these years, Fortum has paid approximately EUR 38 million in taxes to Belgium and EUR 16 million to Holland on interest income in accordance with the local tax regulations. Fortum has received from the Finnish Tax Administration a non-taxation decision regarding activities in the ... Read More »

Belgium Customs seizes seven tonnes of tobacco   

BRUSSELS: Belgium Customs has grasped 6.93 tonnes of tobacco at the Purfleet port shipping to UK. Border Force officers use hi-tech search equipment to combat immigration crime and detect banned and restricted goods that smugglers attempt to bring into the country. The smuggling attempt proved successful it would have cost the Treasury approximately £1.77m in unpaid duty. Mark Kennedy, Border ... Read More »

Belgium shows interest in Morocco port infrastructure development

BRUSSELS: Belgium has been interested for years in the development of the business climate in Morocco. Morocco is a “hub for Africa”, he said, adding that Belgium is willing to put its expertise at the disposal of Moroccan operators. This was stated by Ambassador during a meeting with Minister of Equipment, Transports and Logistics Aziz Rabbah on the occasion of ... Read More »

IMF urges Belgium to modify labour tax system to generate extra revenue

BRUSSELS: The International Monetary Fund (IMF) said that Belgium’s economic program includes “many welcome measures” to address macroeconomic challenges caused by low employment and the country’s fiscal imbalance. It said that there has been a net decrease in Belgium’s labour taxes, but that more tax reforms could generate extra revenue to reduce them still further. In a statement following an ... Read More »

FedEx acquisition to boost e-commerce with Bongo International’s acquisition

BRUSSELS: FedEx has made another acquisition to boost its e-commerce credentials — cross-border solutions firm Bongo International. The acquisition comes just days after the Memphis-based shipping giant announced plans to buy the returns specialist GENCO. Bongo International is a Florida-based company that provides technology for e-commerce merchants to sell to international consumers.The company’s end-to-end range of services includes duty and ... Read More »

National strike cuts off Belgium from world

BRUSSELS: The Belgian strike came days after a day of protest in Italy against Prime Minister Matteo Renzi´s ambitious reform plans, while there have been similar demonstrations in Spain and Greece in recent months. “There has never been a strike this strong,” Marie-Helene Ska, the head of the Christian CSC union, was quoted as saying by the Belga news agency. ... Read More »

Belgium Green climate fund draws pledges worth $10 billion

BRUSSELS: As global climate negotiations continue in Lima, Peru, pledges to the Green Climate Fund have surpassed $10 billion. Yesterday both Belgium and Australia announced support for the fund, with the countries pledging €51.7 million (US$64.4 million) and $200 million respectively. The Fund is designed to contribute to global climate mitigation strategies by providing assistance to developing countries. The Fund ... Read More »