By Jonathan Reuvid
While, in could 2004, the eu Union welcomed the accession of 10 new member nations — basically from former Communist imperative Europe and the Baltics — the EU's inhabitants elevated through 20%. the ten Accession States additional a mixed inhabitants of seventy five million and GDP of greater than $430 billion. there's a significant momentum in those economies because of the significant funding via international businesses, the emergence of neighborhood SMEs and the restructuring of former nation agencies. each one significant state within the zone is a considerable business and customer industry in its personal correct and plenty of of those nations are operating not easy to compensate for the remainder of Europe and feature proven, via reliable fiscal progress, that they've the potential to turn into extra very important gamers in Europe. This ebook examines how the accession method has affected the industrial clients of the hot member states and the enlarged ecu as an entire. It specializes in the possibilities for international traders in all of the 10 new contributors, evaluating their fiscal atmosphere and company stipulations with these of the 15 longer-established member states. it's also an in depth review of commercial stipulations within the 3 most up-to-date admission applicants: Bulgaria, Croatia and Romania and info of key inward traders.
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Additional resources for Corporate Investment Opportunities in the New Europe
All new member states restructured their constitutions and regulatory systems as necessary prior to accession so that they embody the institutions and values of parliamentary democracy that are at the heart of the EU. However, the stability of individual governments varies considerably, as the composition of some coalitions of political parties has fluctuated following parliamentary elections that have taken place since May 2004. As a result, economic policy in some countries is less certain and this may be of concern to foreign business investors.
7 per cent after two years of successive growth. But all is not lost for the more competitive EU10 manufacturers. As Philip Green, the chairman and dominant shareholder of UK retail clothing group Next, explains, the shorter supply chain and quick turnaround of orders to new designs give European manufacturers an advantage in responding to the demands of rapidly changing fashion trends. 5) after two years of growth below 1 per cent. Nevertheless, the pulp, paper, publishing and printing industries of ﬁve CEE8 members of the EU performed signiﬁcantly better.
The UK government, for one, has made it clear that it will not subscribe to standard rates regulated by the EU. Other countries are equally reluctant to yield ﬁscal control of their economies. 5 attempts to compare rates of corporate income tax (CIT), standard rates of value added tax (VAT), rates of withholding tax and residents’ personal income tax (PIT) for each of the EU10. The comparison is a simpliﬁcation, as the numerous footnotes indicate, and readers wishing to develop a more comprehensive knowledge of the taxation regimes in individual countries, including allowable expenses, investment incentives and capital allowances, should consult the publications of one of the international accountancy ﬁrms with a local ofﬁce or refer to the taxation chapters of the books listed in the Appendix on doing business in each country.