In 2018, the average tax burden in developed countries for an employee without a family was 36.1%, which is 0.16 percentage points (pp) less than in 2017, follows from OECD data on taxation of labor income. The decrease in burden has been recorded for the fourth year in a row. The above calculations take into account the overall load, that is, both taxes on income and social contributions paid by...

Emerging markets, like the US, seem ready to recover from last year’s economic downturns, but problems remain for Europe, said Head of UBS. It is expected that the European continent will achieve a slow rebound, said Axel Weber, chairman of the Swiss investment bank, told CNBC. “We are a little skeptical about Europe’s ability to use incentives to achieve this goal,” he said. According to him,...

At a conference in Berlin, Russia and the OPEC countries were warned that their business model would collapse, since the share of "green" electricity on the planet could reach 86% in 30 years. Why should mankind develop electricity production from renewable sources (RES)? Many people believe that it is for the sake of ecology, clean air and the fight against global climate change. Some,...

There is a looming possibility of a deal on the candidacy of the main European banker, which will most likely be concluded by the two leading economies of Europe, Germany and France. For the first time in the history of the main European bank, a German financier may head the main financial institution of Europe. President of the German Federal Bank (Bundesbank, the main bank of Germany),...

On the eve of the EU-China summit, the Premier of the State Council of the People's Republic of China assured that Beijing does not need a split of the European Union. However, Brussels is seemingly afraid of the Chinese "Divide and Rule" policy. On the eve of the EU-China summit, Premier of the PRC State Council Li Keqiang rejected accusation that Beijing wants to split the EU. "We actively...

The US promised new sanctions against Iran. They can be introduced in May. The country’s goal is to persuade businesses to abandon cooperation with the Islamic Republic. Experts believe that Washington will choose this way to achieve an even greater decline in oil exports from Iran. This will lead to an increase in inflation and further impoverishment of the population, but Tehran will not...

It is supposedly necessary for Europe to create a new “empire” in order to resist domination on the part of China and the United States. Minister of Economy and Finance of France Bruno Le Maire calls for creation of “an empire not of domination”, but somehow “peaceful”, that would unite the EU countries in opposition to the Chinese project One Belt, One Road, as well as actions of the US...

On Monday, April 1, the Supreme Court of Venezuela called for depriving interim President Juan Guaidó of parliamentary immunity. The corresponding requirement was sent to the Legislative Assembly, loyal to Nicolas Maduro. There are currently two investigations being conducted against Juan Guaidó in Venezuela. In late March, Head of the General Control Directorate of Venezuela removed the interim...

On Sunday, local elections were held in Turkey. Inflation and unemployment are rising rapidly in the country and the lira is falling. Naturally, the second could not but affected the first. Turkish President Recep Tayyip Erdogan was somehow disingenuous arguing that his Justice and Development Party (AKP) won at the local elections held on Sunday. For the first time in the 16 years, he lost...