The EBRD and EU are increasing their business support program in Ukraine by €2B.
The European Bank for Reconstruction and Development, with funding from the European Union, is boosting its aid for small and medium-sized enterprises (SMEs) in Ukraine, allowing them to secure €2B in new funding via EBRD partner banks. This additional EU assistance is part of the Ukraine Investment Framework and includes €200M in guarantees, €105M in […]
Read moreSafety, Jobs, Quality of Life: Kazakhstan Tops CIS Migration Index
Kazakhstan has been named the best country in the CIS for people considering a move abroad. The study ranked Kazakhstan 53rd out of 82 countries worldwide, making it the highest-performing nation among CIS countries in the Immigration Index 2026, compiled by the US-based company Remitly. The result places Kazakhstan ahead of Moldova (56th), Azerbaijan (66th), […]
Read moreSerbia’s business environment is driving its integration into the EU
On the geographic and political frontier of the European Union lies the Western Balkans: Serbia, Albania, Montenegro, and Bosnia and Herzegovina. Almost three decades after the wars that defined a generation, these are states still in the midst of determining their respective future identities and positions within Europe: some are readily aligning with the EU […]
Read moreBusiness support program of the EBRD and EU in Ukraine is increasing by €2B.
The aid for small and medium-sized enterprises (SMEs) in Ukraine from the European Bank for Reconstruction and Development, with funding from the European Union, is growing. It will allow them to secure €2B in new funding via EBRD partner banks. This additional EU assistance includes €200M in guarantees, €105M in grants, and €10M for technical support as part of the Ukraine Investment Framework.
At least 3,000 businesses will get loans from this new funding, which will help preserve 180,000 jobs. EU grants and other investment incentives will cover 10% to 30% of Ukrainian companies’ essential capital investments, mainly in energy-efficient and green technologies. Enterprises with assets that have been damaged or destroyed by the war or located in frontline zones will be the target of over half of these grants.
Also, the Revival of Ukrainian Small and Medium-sized Enterprises program is being launched by the EBRD and EU. They expect it to provide €135M in funding and advisory services for businesses and startups. €46M will come from EU support. At least 15 Ukrainian projects will get financing from this initiative.
Source https://nh-consulting-services.com/2026/06/12/ukraine-support/
Read moreGeorgia and Turkmenistan discuss on legal framework for business cooperation
According to the Turkmen MFA, Turkmenistan and Georgia discussed the legal framework for business and economic cooperation.
Turkmen Ambassador to Georgia Dovletmyrat Seyitmammedov and Georgian Deputy Minister of Economy and Sustainable Development Tamar Ioseliani negotiated during a meeting in Tbilisi. Also, Head of the Department of Trade Development and International Economic Relations at the Ministry of Economy and Sustainable Development, Givi Zedelashvili, and Director General of Georgian Railway, Lasha Abashidze attended the meeting.
According to the both sides, further improvement of the bilateral treaty and legal base are an important factor for the sustainable development of trade and economic ties. Also, it is important to create more favorable conditions for joint economic initiatives between Turkmenistan and Georgia.
A stable legal framework consisting of bilateral agreements and multilateral trade arrangements is the basis of trade and economic relations between Turkmenistan and Georgia. The two countries continue to apply the provisions of the 1994 CIS Free Trade Area Agreement in their bilateral trade, even though Georgia has withdrawn from the Commonwealth of Independent States (CIS) in 2009. This way, preferential tariff treatment and facilitating transit operations are ensured.
In general, the Intergovernmental Turkmen-Georgian Commission on Economic Cooperation coordinates bilateral economic cooperation. It serves as the principal mechanism for monitoring the implementation of existing agreements and identifying new areas of cooperation. Moreover, trade, transport, logistics, energy, investment, and other sectors of mutual interest are covered by the Commission’s agenda.
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Read moreTurkmenistan, Georgia focus on legal framework for business cooperation
Turkmenistan and Georgia discussed the legal framework for business and economic cooperation, Trend reports via the Turkmen MFA. The discussions took place during a meeting between Turkmen Ambassador to Georgia Dovletmyrat Seyitmammedov and Georgian Deputy Minister of Economy and Sustainable Development Tamar Ioseliani in Tbilisi. The meeting was also attended by Head of the Department […]
Read moreSerbia’s entering the EU will entail a new model of taxation of citizens
A proposal for the Law on Personal Income Tax has been published by the Ministry of Finance. It will come into force from the date of Serbia’s accession to the European Union.
According to the law, all natural persons who generate income (wages, income from self-employment, copyrights, capital, real estate, capital gains) pay the tax. It regulates exclusively taxation income. Nevertheless, only its provisions can introduce tax reliefs and exemptions.
Also, Serbian residents pay tax on income earned in the country and abroad. Meanwhile, non-residents pay tax only on income earned in Serbia.
Officials of the institutions of the European Union, members of their families, as well as for diplomatic and consular personnel of Serbia fall under special rules.
Social benefits, child allowances, unemployment benefits, pensions, disability benefits, scholarships up to the prescribed amount, assistance due to natural disasters, subsidies and incentives in agriculture, volunteering fees, certain one-off benefits and other public interest benefits are exempted from taxation. Also, non-residents who stay in Serbia for up to 90 days do not need to pay taxes on certain incomes.
The income that residents of Serbia earn abroad and pay tax on it in another country can be included as a tax credit in Serbia. Nevertheless, the amount must not exceed the amount of tax they would pay on the same income according to domestic regulations.
However, they recognize expenses of 110.647 dinars per quarter for income from copyright and related rights. Meanwhile, 66.733 dinars are recognized for income based on the contracted remuneration for work. They apply standardized deductions if a person earns both types of income.
Also, the law defines various benefits that the employee receives from the employer, compensation for temporary and occasional jobs, personal earnings of the entrepreneur as wages. They also include in the earnings vouchers, goods, services, debt forgiveness, use of an official car for private purposes, an official apartment.
However, the monthly amount of 34.221 dinars for full-time employees is non-taxable. Also, newly settled taxpayers and highly qualified experts who come to work in Serbia can enjoy an income tax reduction by 70 percent for five years. This measure aims to attract professional staff and return people from abroad.
A flat tax rate of 10 percent is stipulated for wages.
Moreover, certain allowances for transportation costs, per diems for business trips in the country and abroad, accommodation and transportation costs on business trips, as well as on certain types of assistance to employees are exempted from taxation. Exemptions include solidarity aid due to illness, disability or the birth of a child, aid in the event of the death of a family member, New Year’s and Christmas gifts for employees’ children, jubilee awards, as well as funds intended for the treatment of an employee.
Special regulations concern the treatment of shares and shares that employees receive from the employer or a related person for at least two years. Benefits provided by the employer for the purpose of recreation and improving the health of employees also fall under tax exemption.
The law exempts some employees in diplomatic and consular missions, international organizations and institutions of the European Union, persons with disabilities employed in companies for their work training and employment from paying salary tax. Voluntary health insurance and voluntary pension funds do not pay taxes on income below 8.677 dinars per month.
Also, the law exempts newly founded innovative companies from paying taxes on the salaries of their founders during the first three years of operation, for salaries up to 150.000 dinars per month.
A special benefit is provided to people under 40 years of age. The base for calculating the annual tax is additionally reduced for them.
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Read moreReforming Ukraine’s Labor Market: How War, Labor Shortages, and European Integration Are Rewriting Labor Rules
The transformation of employment in Ukraine has been underway for more than a decade. Population decline, labor migration, informal employment, technological change, and integration into the European economic space have gradually eroded the system of labor relations originally designed for the Soviet planned economy. Russia’s full-scale invasion has further exacerbated these problems while simultaneously accelerating […]
Read moreA new model of taxation of citizens if Serbia enters the EU
The Ministry of Finance has published a proposal for the Law on Personal Income Tax, which would begin to be applied from the date of Serbia’s accession to the European Union. The law stipulates that all natural persons who generate income pay the tax. Taxation income is regulated exclusively by this law, and tax reliefs […]
Read moreKazakhstan’s employed population reaches 9.4 mln
Kazakhstan’s employed population has reached 9.4 million people, Qazinform News Agency quotes Minister of Labor and Social Protection Askarbek Yertayev as saying at a Government’s meeting. “The Ministry of Labor is actively working to protect workers’ rights, including the legalization of employment and expanding insurance coverage. According to the latest statistics, the employed population stands […]
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