Search

Now the focus shifts to issues arising from the developed world, the "biggest culprits" in terms of debt, according to IMF director Kristalina Georgieva, but which may not remain limited there. Georgieva states that debt and energy, along with the AI boom that stimulates some economies but bypasses most, are the main themes of the week. #FMI #datorie #inflație (translated)

Bert Slagter wrote that he saw the 36% rate as the biggest problem of box 3. According to him, that levy was not comparable to income tax, because the return partly compensated for the loss of purchasing power due to inflation. With a return of 8% and inflation of 3%, the tax effectively resulted in 58% of the real return, which he found much too high. https://t.co/h4yfrUgWQa #belasting #inflatie #financiën (translated)

Madelon Vos wrote that entrepreneurs, according to the CEO of DSM, needed a reliable government, but did not get one. She stated that Dutch politics trivialized the effects of the income tax in box 2 and the high rates in box 3, and that this policy severely affected entire sectors, including the Dutch crypto and precious metals sector with more than two million investors. Vos wrote that investors had to keep track of their real returns themselves, while some banks and brokers could not provide that data and the Tax Authority had not yet verified the calculations. According to her, investors would want to deduct inflation, transaction costs, currency costs, and subscription costs from that calculation. She also reported that the man who had been at the basis of the law had since advocated for the withdrawal of the amendment and the law and for a new piece of legislation. Furthermore, Vos pointed to the rising interest rates in France and the possible consequences of that for the Netherlands. She wondered if war was looming and wrote that the Netherlands was increasing pressure on Russia. https://t.co/X4T4ze43tV #ondernemen #beleggen #politiek (translated)

The World Bank is discussing with 30-40 countries the assistance needed to cope with the global crisis caused by rising energy prices and inflation, in the context of shocks from the war in the Middle East and the effects of super El Niño. #BancaMondială #CrizăGlobală #EconomieDeDezvoltare (translated)

"The proposal of the Irish Presidency cannot be the starting point for an agreement. A reduction of 8% of the Commission's proposal, which already maintains the budget only at the level of the current period, would mean weakening our capacity to act, in the context of Europe being asked to do more regarding competitiveness, defense, and security. This would leave Europe less able to protect its citizens and compete economically with the major economies of the world. It would mean underfunding agriculture and reducing support for our regions. National budgets have increased in recent years, while the EU budget has not kept up. Instead, 10% of its purchasing power has disappeared due to high inflation," said Siegfried Mureșan, according to a statement from the European Parliament. #bugetUE #ParlamentulEuropean #reducerebugetară (translated)

Italian Prime Minister Giorgia Meloni is urging urgent reforms in European energy policy during the upcoming European summit, advocating for measures to lower energy costs and ensure the competitiveness of industry amid rising inflation and energy prices in Italy. #Europa #Energieprijzen #GiorgiaMeloni (translated)

Roelof Bouwman wrote that it had not succeeded in reducing the number of asylum seekers, the housing shortage, crime, and inflation, getting more teachers, or paying fewer billions to Brussels. According to him, introducing a mandatory heat pump would not be a problem. https://t.co/OWy53KVLce #Asielzoekers #Woningnood #Criminaliteit (translated)

Geert Noels stated that a study by Vooruit estimated the annual cost of corporate taxation at 4.2 to 4.7 billion euros, but according to him, due to significant errors, it actually amounted to about 1 billion euros. He argued that this cost could not be offset by higher taxes, which he believed would cause more harm than benefit; he advocated for better oversight of bogus self-employment. Noels identified the main mistake as the comparison between directors via a management company and employees. According to him, directors were legally self-employed and paid contributions up to a ceiling. This comparison would overestimate the estimate by more than 1 billion euros. Moreover, employer contributions were calculated based on the total labor cost instead of the gross salary, resulting in a calculation of 33 percent instead of 25 percent. Noels also disputed that there were four independent estimates: according to him, they used the same rates and distribution keys. He pointed out that estimate C assumed 24 billion euros in shifted profits, compared to about 15 billion euros in total profits in estimate A. Furthermore, factors such as the tax shift, energy crisis, inflation, the reform of corporate tax in 2017, and Pillar 2 were not included as explanations for the macro figures. Also, liquidation reserves of ordinary SMEs would have been counted as leaks. According to Noels, the study also did not take behavior effects into account, such as substitution, cessation, moving abroad, losses, or bankruptcies, and only included companies with profits. He therefore labeled the note as an unreliable basis for policy and believed that bogus self-employment should be addressed directly. Finally, he urged academics, journalists, and politicians to respect the facts when it came to entrepreneurs and risk-takers. #Vennootschapsbelasting #Economie #Belastingen (translated)

Arend Jan Kamp asked whether the government and the House of Representatives had thought about that. He wrote that investors would keep their data carefully and report their returns after inflation. According to him, some would also record broker, transaction, and currency costs, subscriptions, data, and courses. He also mentioned "Tosti's Damrak" and asked who that would be. Kamp wished those involved success with the implementation and administration. #box3 #beleggen #inflatie #financiën (translated)

Madelon Vos wrote that the plans for the new box 3 system, which were announced last week, had caused unrest among politicians, savers, entrepreneurs, and investors. Although the capital gains tax was presented as a victory, she argued that small savers and investors would be the victims. Additionally, people would temporarily have to pay taxes annually on paper gains from bitcoin and precious metals, even if they had not sold anything. Vos also pointed to rising global interest rates and a greater interest rate differential between France and Germany. She wondered what that indicated about investor confidence and how much room governments still had if inflation and scarcity of raw materials further pushed up interest rates. According to her, the higher interest rates would also affect the real estate market: Dutch houses could depreciate in real terms next year. In an episode of Madelon Praat, she discussed how taxes, interest, and inflation impacted people's wealth. https://t.co/hVinv3HF4l #belasting #rente #inflatie (translated)

Inflation in the eurozone rose to 3.8 percent in September, the highest level in years, caused by high fuel prices and the impact of the conflict in the Strait of Hormuz, which has already cost Europe 100 billion euros. #inflatie #brandstofprijzen #EuropeseCentraleBank (translated)