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Finance ministers and tax chiefs from 51 countries signed an agreement on Wednesday to automatically swap tax information, which Germany''s finance minister said heralded the end of tax evasion via secret bank accounts. "Let''s make a joint contribution to more transparency and fairness in our globalised 21st century," Wolfgang Schaeuble told a taxation conference of about 100 countries co-ordinated by the Organisation for Economic Co-operation and Development.

Thousands of Hungarians marched in Budapest late Tuesday against a proposed law to tax Internet usage, in the second mass protest this week opposing the measure championed by Prime Minister Viktor Orban. "We are not going to let it happen," the crowd chanted as it passed through the central of the capital in near freezing weather to rally in front of the economy ministry.
The European Union on Tuesday denounced Hungary's plan for an Internet tax as a new threat to political freedom in the country and also for broader EU economic growth. EU digital commissioner Neelie Kroes believes it is a "particularly bad idea" and will continue to support protests like those against the proposed levy held Sunday in Budapest, her spokesman Ryan Heath said.
Russia's government has approved a new tax law to clamp down on Russian companies and individuals using offshore tax shelters. The law is part of a range of measures initiated by President Vladimir Putin, and collectively known as "deoffshorisation", which are aimed at bringing Russian businesses and money home from foreign jurisdictions.
Oman's government is likely to start cutting some state subsidies next year as the decline in global oil prices pressures its finances, Minister for Financial Affairs Darwish al-Balushi said on Saturday. The country's original budget plan for 2014 assumed the government would run a deficit with an average oil price of $85 a barrel. For most of this year the oil price has been much higher, but in the last few months it has dropped steeply to as low as $82.
Sri Lanka's president cut taxes and increased salaries, subsidies and welfare spending on Friday in a populist budget ahead of a troubled bid to win a third term. Mahinda Rajapakse made no direct reference during the budget announcement to his plans to seek a third term at an election that the government says will be held in January, two years ahead of schedule.
Greece's coalition government submitted promised tax relief legislation to parliament on Thursday as part of efforts to boost its flagging popularity and show Greeks that four years of austerity are nearing an end. Prime Minister Antonis Samaras, whose conservative party trails the anti-austerity Syriza party in opinion polls, has been trying to convince the country's EU/IMF lenders to roll back austerity measures and preserve fragile political stability ahead of a crucial presidential vote early next year.

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln