Atlantic Storm Sat, 15 Jan 2022 23:03:20 +0000 en-US hourly 1 Atlantic Storm 32 32 PH allows entry of qualified passengers from Red List countries Sat, 15 Jan 2022 10:54:00 +0000

MANILA, Philippines — The Bureau of Immigration (BI) announced on Saturday that the country will now allow entry of qualified travelers from Red List countries, in accordance with updated guidelines from the national government.

BI Commissioner Jaime Morente announced it after the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) lifted the ban on passengers arriving from Red List countries.

“This would mean that our kababayan who are in red list countries can now return to the Philippines via commercial flights without the need to join repatriation or bayanihan flights,” Morente said.

However, all arriving passengers are required to present a negative RT-PCR test taken within 48 hours prior to departure from the country of origin. They will also be subject to testing and quarantine protocols defined by the IATF and implemented by the Office of Quarantine.

RT-PCR tests carried out 72 hours before departure will be taken into account until 00:01 on January 19, 2022.

Morente then clarified that despite the lifting of the travel ban on countries on the red list, the general travel restrictions will still be in place.

“Currently, only Filipinos, Balikbayans and long-term visa holders are allowed to enter the country,” Morente said.

“Those holding tourist visas are still not allowed entry,” he added.

According to the IATF, red list countries include Antigua and Barbuda, Aruba, Canada, Curacao, French Guiana, Iceland, Malta, Mayotte, Mozambique, Puerto Rico, Saudi Arabia, Somalia , Spain and the US Virgin Islands.

Meanwhile, under the green list are Bangladesh, Benin, Bhutan, British Virgin Islands, China (Mainland), Ivory Coast (Cote d’Ivoire), Djibouti, Equatorial Guinea, Falkland Islands (Malvinas), Gambia, Ghana, Guinea, Hong Kong (Chinese Special Administrative Region), India, Indonesia, Japan, Kosovo, Kyrgyzstan, Montserrat, Morocco, Niger, Oman, Pakistan, Paraguay, Saba (Special Municipality of the Kingdom of the Netherlands), Saint-Barthélemy, Senegal, Sierra Leone, Saint-Eustache, Taiwan, Timor-Leste (East Timor) and Uganda.

All other countries not mentioned are on the yellow list.

The BI said earlier that it had seen an increase in the number of immigration officers affected by the virus.

“Fortunately, most cases are mild or asymptomatic,” Morente said.

“We hope this wave will pass soon, so that our services remain unhindered,” he added.


BI reduces on-site work capacity in the NCR


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Novak Djokovic live updates: World No. 1 faces new Australian visa hearing Fri, 14 Jan 2022 22:36:52 +0000

Martina Navratilova tells Djokovic to ‘suck’ and ‘go home’

Novak Djokovic made another appeal after Australian Immigration Minister Alex Hawke canceled his visa on Friday. The men’s world number 1, who is unvaccinated but has claimed an exemption from Australia’s strict rules on visitors being vaccinated against Covid-19 due to having already had a bout with the disease, faces a race against the clock to have his visa reinstated with his first match of the Australian Open scheduled for Monday evening.

On Friday, Hawke announced that he had canceled Djokovic’s visa for “reasons of health and good order”. Djokovic’s legal team immediately fought the decision and the case will now go to federal court over the weekend, with Djokovic’s lawyers pushing for a final decision on Sunday before he begins his bid for a 21st Historic Grand Slam. The 34-year-old Serb was summoned to a meeting with border authorities on Saturday morning, and could then be held in a state hotel while the case is heard.

The pressure has been building all week after Djokovic broke his silence on a number of accusations of breaking Covid protocol on Wednesday, and he admitted he had broken solitary confinement and conducted an interview with the French newspaper L’Equipe despite knowing he was positive for the virus, such a transgression could result in up to five years in prison if it is proven that he lied about his positive test.

Follow all the latest news below as Djokovic battles against expulsion once again.


Djokovic detained by Australian border authorities, report says

Novak Djokovic has now been arrested by Australian border authorities in accordance with the arrangement agreed to in court, according to CNN.

Djokovic had his visa withdrawn twice by immigration officials ahead of the Australian Open because he is not vaccinated against Covid-19.

Graeme MassieJanuary 14, 2022 10:36 p.m.


Serbia’s Prince Philip condemns Australia’s handling of Djokovic

“The strength and actions of a brave individual, [Novak Djokovic] can give us hope and courage,” Prince Philip wrote on Twitter.

“It is becoming more and more evident that the ‘free world’ is heading down the path of tyranny. When tyranny shows its ugly face, it is our duty to speak out.

“Many will not recognize that we are going down this dangerous path because tyranny has a clever way of disguising itself as an act of good, therefore those who speak out are often met with disapproval and outrage, as is the case with our good brother [Novak].

“We have become distracted in our modern society, therefore, we can easily forget the telling lessons of history.”

Prince Philip of Serbia was born on January 15, 1982.

He is a member of the House of Karađorđević and son of Serbian Crown Prince Alexander. He is the fraternal twin of Prince Alexander and the second in line to the throne of Serbia after his older brother, Prince Peter.

Peter II was the last king of Yugoslavia, reigning from October 1934 until his deposition in 1945, when Yugoslavia became a republic.

Graeme MassieJanuary 14, 2022 10:03 p.m.


World reacts to Australia’s cancellation of tennis star Novak Djokovic’s visa

Novak Djokovic continues to grab headlines in sport and beyond as his quest to feature at the Australian Open spans the courts, government figures, tennis personalities and, presumably, science.

Journalists, tennis personalities and many more – many more – had their say on the Serbian and his predicament:

Karl MatchetJanuary 14, 2022 9:00 p.m.


Andy Murray rejects offers to play in Saudi Arabia due to human rights concerns

Andy Murray refused to ‘kick’ Djokovic while he’s down after he was asked his opinion on the Serb – and it’s also clear what his opinion is on playing tennis in Saudi Arabia.

Lucrative offers tempting top boxers, golfers and footballers to compete in Saudi Arabia aren’t enough for Andy Murray to put money before morals.

When Murray received offers to travel to Riyadh to play in exhibition matches, the potential to earn millions of dollars was dismissed.

Friday’s revelation came from the three-time Grand Slam winner’s agent in the week the Spanish Football Federation came under fire from human rights campaigners for taking their Super Cup to Saudi Arabia.

Karl MatchetJanuary 14, 2022 8:40 p.m.


Novak Djokovic’s controversial beliefs and why he opposes the vaccine

According to Novak Djokovic, one of the defining days of his career came in the summer of 2010. He had already won his first Grand Slam title, but recurring shortness of breath plagued him in matches. To watch Djokovic now is to see one of the world’s toughest athletes in action. He covers the tennis court with almost robotic efficiency, always two steps ahead of his failing opponents. At the time, it was Djokovic who felt abnormally jaded. On several occasions, in the heat of the moment, he even requested medical leave for fear of collapsing.

Dr. Igor Cetojevic, a Serb who describes himself as an “energy medicine specialist”, was put in touch with Djokovic through a mutual friend. The couple met in Croatia, where Cetojevic asked Djokovic to extend his left arm while pressing a piece of bread against his stomach. To Djokovic’s surprise, his arm felt noticeably weaker when near gluten. Ridiculous as it may seem that such a meticulous player would be docile to such vague “alternative therapies”, it is possible to see all the success and controversy in Djokovic’s career – 19 Grand Slam titles, a record number of days spent as world No. 1 and not quite so detained in an immigration hotel in Melbourne – through the lens of this day.

Tom Kershaw explains how Djokovic’s beliefs and approach to his life and career brought him to this Melbourne-based saga.

Karl MatchetJanuary 14, 2022 8:20 p.m.


Novak Djokovic will return to the detention center on Saturday morning

Novak Djokovic will return to a detention center at 8 a.m. local time on Saturday after the Australian government decided to cancel his visa again.

The Serb was not detained on Friday night after Immigration Minister Alex Hawke’s decision. But he will likely stay again at the Park Hotel on the outskirts of Melbourne on Saturday night.

The 34-year-old will first meet with immigration officials, before discussions take place with his lawyers to finalize plans for his appeal.

Djokovic is then due to remain in a detention center before the appeal is heard on Sunday, just hours before he is due to play his 2022 Australian Open first round match against compatriot Miomir Kecmanović.

Jack RathbornJanuary 14, 2022 8:00 PM


Djokovic fights Australian visa ruling as legal team launches appeal

Addressing a first hearing as Djokovic appeals the minister’s decision, his lawyers suggested the decision was made due to concerns that the tennis star’s appearance at the Australian Open will not fuels anti-vaccination sentiment in the country, rather than strong legal grounds.

Djokovic’s side have also called for a quick audition which they hope to conclude on Sunday, before the tournament begins on Monday, with the player due to play his opener on Monday night in Melbourne. “We are very concerned about the weather,” Djokovic’s lawyer, Nicholas Wood, told the Federal Circuit and Family Court of Australia.

The government representative at the hearing agreed to accept the expedited deadline and confirmed that Djokovic would not be detained – as he was for four days upon his arrival in Melbourne – until the appeal process is completed. is not over.

Karl MatchetJanuary 14, 2022 7:40 p.m.


Spain denies Novak Djokovic investigation into alleged Covid breach

Novak Djokovic is not being investigated by the Spanish government over an alleged breach of Covid rules separate from his current difficulties with the Australian government.

Reports on Wednesday suggested authorities were looking into a possible legal issue after it emerged Djokovic had entered the country days after testing positive for Covid en route to Melbourne for the Australian Open.

Since September 20, citizens of Serbia are required to have a vaccination certificate or present a special waiver to enter Spanish territory.

“Only residents of Serbia who have a full vaccination certificate or special permission can enter Spain,” reads the current Spanish entry requirements.

Meanwhile, Djokovic has also been accused by Stefanos Tsitsipas of ‘playing by his own rules’.

Karl MatchetJanuary 14, 2022 7:20 p.m.


Raducanu the other Australian Open talking point

Djokovic is stealing most of the headlines right now, but Emma Raducanu is in the first slam since winning the US Open.

Our reporter Tom Kershaw wrote of the pressure she faces: “Raducanu may have already scaled the mountain, but these players still feel like banning the giants in front of her.

“What is a realistic goal? If such a thing can still be applied? Raducanu’s opener, against American Sloane Stephens, is a ruthless test in which victory alone would be a huge scorer. It’s a daunting task that also raises intriguing parallels. Few expected an unranked Stephens to claim US Open glory in 2017 and, amid the whirlwind of attention and unwanted comparisons to Serena Williams, she didn’t win a single match. for the rest of the season.

“By the time she was knocked out in the first round of the Australian Open the following year, her losing streak had extended to eight matches. “Relax, everyone. don’t worry,” she said with a smile and a laugh to a room full of solemn reporters afterwards. Sure enough, at Roland-Garros a few months later, she reached the final.

Sarah RendelJanuary 14, 2022 7:00 p.m.


So how did Djokovic’s situation play out?

Djokovic has been in Australia for almost 10 days and his visa has been canceled twice.

The first time he was detained at a Melbourne airport as he was deemed a health risk as he had not received the Covid vaccine. He won an appeal to stay in Australia, but Immigration Minister Alex Hawke had the power to overturn it again.

He exercised his right to do so on Friday, but Djokovic and his team are fighting back with the case now heading to the Federal Court of Australia.

But how did it get there and why? Here’s everything you need to know:

Sarah RendelJanuary 14, 2022 6:40 p.m.

Tonga changes repatriation rules to allow over 300 people into MIQ next week Fri, 14 Jan 2022 06:43:45 +0000

By Eleanor Gee

Tonga is lifting a restriction to allow the repatriation of more than 300 passengers from New Zealand and Vanuatu next week.

Changes to the protocols for repatriating stranded passengers to Tonga were outlined by the new Minister of Health, Hon. Dr Saia Piukala this morning, January 14, and include repatriation from countries with covid-19 in the community.

Changes to repatriation protocols for Tongans and others stranded abroad were outlined by the Minister of Health, Hon. Dr. Saia Piukala this morning, January 14, at Vaiola Hospital.

“We have our family overseas wondering when they will return to Tonga,” he said. “It’s been almost two years since covid-19.”

One of the policies they are in the process of changing is to require that passengers are only allowed to come to Tonga from countries without covid-19 community transmission.

“We have decided to lift this restriction and that is why the committee and the government have agreed to the repatriation flight from New Zealand on January 20. Even though there is community transmission there, the covid-19 cases have dropped in New Zealand.

Although there are new cases with the new Omicron variant there, the Minister said that these cases were at the border or in quarantine facilities, which “will help reduce the risk of covid-19 to enter Tonga”.

Another new protocol is that passengers must self-quarantine at home for a week before travelling.

“Although there is no one to watch them, I think it is important for those in New Zealand who want to return to follow the protocol advice they have been given.”

Passengers should be tested for covid-19, 48 hours before the flight and if the test is positive “this person will not be able to board the flight to Tonga”.

In addition, passengers must be fully vaccinated (with two doses) to covid-19 years before they can be repatriated to Tonga.

People are also not allowed to buy alcohol at the airport to catch the flight, however, the minister said they can buy alcohol using their boarding pass when they finish their journey. quarantine period in Tonga.

Repatriation flights

About 300 passengers are expected to arrive from New Zealand next week on January 20 and eight from Vanuatu on January 18.

There are two flights from Vanuatu, a charter flight with six passengers and a small surveyor flight with two passengers.

Hon. Dr Piukala said work was underway to also organize a repatriation flight from Samoa.

He added that because the covid-19 The situation in Vanuatu and Samoa is similar to that of Tonga, the quarantine time for returnees from these countries will be reduced to two weeks “to be on the safe side”.

Meanwhile, the government remains cautious in organizing repatriation flights from countries increasingly covid-19 cases.

“Repatriation flights from Australia and Fiji have been canceled due to the spread of the new Omicron variant in their communities,” he said.

Stranded in Fiji

For those stranded in Fiji, the minister said they were working on a safe way to repatriate them.

“We are planning for a working group from the Ministry of Health to work with the SPC [Pacific Community], it is Fiji’s focal point, to seek the safest way to repatriate those stranded in Fiji.

“There are passengers who have been stranded there since last March and April and I can understand the impact on them mentally and the anxiety they have to come back, but it is our responsibility, the Ministry of Health and the government, to ensure that we can repatriate them in the safest way possible.”

The Minister also stressed the importance for the people of Tonga to be vaccinated against covid-19 to better protect themselves and their families covid-19 reach Tonga.

Amid Omicron crash, Quebec to crack down on unvaccinated people with new health tax – Red Deer Advocate Thu, 13 Jan 2022 01:50:00 +0000

As infections fueled by the Omicron variant threaten to overwhelm Canada’s health care system, the Quebec government on Tuesday took unprecedented action by promising to tax adult residents who refuse to be vaccinated against COVID-19.

Premier François Legault made the announcement as the province reported another daily record of virus-related hospitalizations. Of the 2,742 hospital patients in Quebec with COVID-19, 255 of them were in intensive care.

The prime minister said the unvaccinated should be forced to pay for the burden they place on the health system, noting that half of people in intensive care are not vaccinated – even though this group comprises 10% of the adult population. The tax would not apply to people benefiting from a medical exemption.

Meanwhile, Ontario reported 3,220 hospitalizations on Tuesday, with 477 intensive care patients, including 250 on ventilators. The Ontario Hospital Association confirmed that 80 adults had been admitted to hospital the day before – the highest number of admissions to date during the pandemic.

The accelerated spread of Omicron has resulted in staff shortages across Canada, affecting hospitals, long-term care facilities and other essential services. As a result, elective surgeries in Ontario have also been suspended, affecting up to 10,000 scheduled procedures each week.

Ontario Health Minister Christine Elliott has announced that to address staff shortages, internationally trained nurses will be allowed to work in hospitals, long-term care homes and other facilities Ontario Health Center.

After Ontario Premier Doug Ford confirmed Monday evening that students would return to class on January 17, Elliott was repeatedly asked to explain which health indicators had changed since last week to allow for the recovery. in-person learning.

“We have done everything possible to make our schools safe for our students,” she told a press conference, adding that all students would receive three-ply masks.

“We are taking all possible measures to make sure our schools are safe for our children…. We needed a little more time to put these provisions in place.

Karen Brown, president of the Elementary Teachers’ Federation of Ontario, said while many teachers want to resume in-person learning, some are concerned about inadequate security measures.

“What they have announced so far is not enough,” said Brown. “We are almost two years into this pandemic. Why do we always ask these things? “

In Ottawa, Prime Minister Justin Trudeau pledged that provinces will have enough COVID-19 vaccines to provide eligible people with a fourth dose, should it become necessary. Trudeau made the pledge in a statement Monday night after speaking with provincial and territorial leaders, saying Ottawa will do everything possible to help them deal with the fifth wave of the pandemic.

“(Premiers) have expressed concern over the pressure on health systems, businesses, workers and families across the country,” the statement said.

In New Brunswick, doctors were treating a record 88 people hospitalized with COVID-19, including 14 in intensive care. Mathieu Chalifoux, the province’s chief epidemiologist, said hospitalizations could jump to 200 if current trends continue.

“We are at the start of a very high tidal wave,” said John Dornan, interim president of the province’s Horizon Health Network. “It’s skyrocketing now, but in the next two or three weeks it’s going to crush us like nobody’s business. “


]]> Why the price has increased today Wed, 12 Jan 2022 22:50:47 +0000

  • The United States Steel Corporation (NYSE: X) share price rose 5.35% today. That’s why it happened.

The United States Steel Corporation (NYSE: X) share price rose 5.35% today. Investors appear to be reacting positively to US Steel’s announcement that its highly sustainable and technologically advanced next-generation steel plant will be located in Osceola, Arkansas, near US Steel’s state-of-the-art Big River Steel plant. This facility is designed to bring together the most advanced technology to create the steel mill of the future that offers cost effective solutions to customers.

The new plant was designed to expand US Steel’s customer benefits as the company charts a bold path towards a more sustainable future. And the new optimized steel production facility is expected to feature two Electric Arc Furnaces (EAF) with 3 million tons per year of advanced steelmaking capacity, a state-of-the-art endless casting and rolling line, and advanced finishing capabilities. This first use of endless casting and rolling technology in the United States brings significant improvements in energy, efficiency and capacity to the company’s operations.

Once completed, this project will require you to become LEED certified. And site selection is subject to a number of factors, including final agreements with key partners. Authorization for the project is pending and the company plans to inaugurate the land in the first quarter of 2022 with project completion and full operation slated for 2024.

When completed, the sophisticated new steelmaking plant associated with Big River Steel will form a 6.3 million tonne mega-plant capable of supplying many of the most advanced and durable steels in North America. And the new non-grain oriented electrical steel and galvalume / galvanizing lines currently under construction at Big River Steel will allow US Steel to better meet the pressing supply chain needs of customers to meet their own domestic manufacturing expansion. . This location provides abundant, increasingly renewable and clean energy from Entergy Arkansas, BNSF’s superior Class 1 rail service with connections to other railroads, Mississippi River docks, and access to international trucking. -States.


“With this location selected and the shovels ready, we are reshaping the future of the steel industry. We had many competitive site options, but Osceola offers our customers unparalleled benefits.

“The State of Arkansas, Mississippi County, City of Osceola, Entergy, BNSF and other parties have all worked to make this the clear choice for a roadblock-free route to the future. We are not going to keep our stakeholders waiting to see progress. We plan to innovate this quarter and get to work as soon as the permits are in hand. With its extraordinarily low cost structure, energy efficient production equipment and advanced capabilities, this $ 3 billion project will bring significant benefits to our customers, shareholders, communities, employees and contribute to a more sustainable world.

“Our country and our customers need a strong and resilient supply chain to meet consumer needs, and that starts with advanced and sustainable steels from US Steel. Steel is essential to much of what the world builds, so the way we make our products directly contributes to a better, more sustainable world for all. This new facility will build that future. Stay tuned. As we add this to our world-class Big River Steel facility, you’re going to see great things as we advance the future of steel – the best for all.

– US Steel President and CEO David B. Burritt

“Arkansas has created an ideal business environment for the growth of the steel industry in our state. The investment and well-paying jobs that will result from this announcement will make a real difference in the lives of many families in Northeast Arkansas. I am grateful for the support of the Legislature which has been essential in winning this expansion. Today, US Steel is an important part of our future and we look forward to continuing our success in the years to come. “

– Arkansas Governor Asa Hutchinson

“Mississippi County has become a national leader in steel production, and US Steel’s decision to create the ‘steel mill of the future’ in this community continues to underscore why. Arkansas not only has a skilled workforce, a reliable electricity grid, and easy access to rivers, railways, and highways, but it also has a governor, a general assembly and many community partners and stakeholders who recognize the importance of expanding economic opportunities. for the Arkansans and who will go the extra mile to compete for these opportunities. US Steel is a valued member of the state’s business community, and we are delighted to continue our partnership with them as they establish the most advanced steel fabrication facility in North America, here. even in Arkansas.

– Arkansas Secretary of Commerce Mike Preston

Disclaimer: This content is intended for informational purposes. Before you make an investment, you need to do your own analysis.

Iran urges US to repatriate all Achaemenid tablets Wed, 12 Jan 2022 09:34:00 +0000

Iran’s Ambassador and Permanent Representative to the United Nations said the United States must return the Achaemenid clay tablets to the country without any exceptions or excuses.

According to Majid Takht-Ravanchi, the United States has repeatedly used excuses to delay the repatriation of the tablets to Iran.

“About 90 years ago, the Achaemenid tablets were transferred to the Oriental Institute at the University of Chicago on a three-year loan,” IRNA said on Tuesday, citing Takht-Ravanchi.

“Unfortunately, they have not been fully returned since then,” he added.

Several batches of Achaemenid-era clay tablets and related fragments have been delivered to Iran in recent years, but thousands of pieces are still preserved at the Oriental Institute at the University of Chicago.

Takht-Ravanchi said Iran’s request is “clear,” reiterating that all loaned tablets must be delivered to the Iranian government intact.

He said the tablets are part of Iranian culture and history and belong to the Iranian people.

“The United States postpones this every time under a pretext, while the Americans themselves admit that these tablets came to the United States on loan but were not fully returned,” added the Iranian envoy.

The tablets were discovered by archaeologists affiliated with the University of Chicago in the 1930s during excavations in Persepolis, the ceremonial capital of the Persian Empire.

In 2019, nearly 1,800 artifacts, from a collection of tablets that would become the archives of the Persepolis fortification, were returned to Iran.

The collection gave a detailed overview of aspects of Achaemenid society, gave an overview of the Persian Empire centered on what is today Iran, and influenced the way scholars perceive art, language and Achaemenid history.

The Achaemenid Empire was the largest of the empires in the ancient Near East and stretched from the Balkans and Egypt to India and Central Asia.

According to the Oriental Institute, the tablets illustrated “the support of the king and the court, the deployment of workers, the practice of religion, the development of the art of the seal, the interaction of languages, and more.”

In 2006, a US federal court decision sought to seize and auction the priceless collection of ancient clay tablets. However, an appeals court later overturned the decision, and in 2018 the United States Supreme Court upheld the subsequent ruling that the collection cannot be removed.

Comparison of cross-border tax systems in Europe, 2021 Tue, 11 Jan 2022 11:46:03 +0000

Today’s map examines the ranking of European OECD countries in cross-border tax rules and is the last in our series examining each of the five components of our International tax competitiveness index (ITCI). Cross-border tax rules define how income earned abroad and by foreign entities is taxed domestically, making it an important part of each country’s tax code.

the ITCIThe component on cross-border tax rules compares various aspects of cross-border tax systems in OECD countries, namely territoriality, withholding taxes, tax treaties and cross-border tax regulations such as the rules on controlled foreign companies ( SEC) and thin capitalization rules.

Territoriality defines the extent to which dividends and capital gains earned abroad are included in the national tax base. Tax treaties align many tax laws between two countries and attempt to reduce double taxation, in part by reducing or eliminating withholding taxes on dividends, interest and royalties received by foreign individuals and businesses. The CFC and thin capitalization rules aim to prevent multinational companies from minimizing their tax liability through base erosion and profit shifting.

The UK cross-border tax system ranks first among OECD countries. Like most OECD countries, the UK operates a territorial tax system, fully exempting foreign dividends and capital gains from domestic tax. The UK has the largest network of tax treaties in the OECD, with around 130 countries. As a result, under the tax treaty, foreign entities from these countries are not subject to 20% withholding tax on interest and royalties received in the UK or pay a reduced rate. There is no withholding tax on dividends. The UK has relatively strict CFC rules and thin capitalization rules.

Among the European OECD countries, Slovakia has the least competitive cross-border tax system (Chile ranks last in the OECD). While Slovakia excludes dividends earned abroad and capital gains from its national tax base, it levies a relatively high withholding tax of 35% on dividends (interest and royalties are subject to a 19% withholding tax). Slovakia’s tax treaty network consists of around 70 countries, and its CFC and thin capitalization rules are relatively strict.

Click here to view an interactive version of the ranking of cross-border tax rules for OECD countries, then click on your country for more information on the strengths and weaknesses of its tax system and how it compares to the top and bottom five OECD countries.

To see if the ranking of your country’s cross-border tax rules has improved in recent years, check the table below. To learn more about how we determined these rankings, read our full methodology here.

Cross-border tax rule component of the International tax competitiveness index between 2019 and 2021 (for all OECD countries)
OECD countries Ranking 2019 Ranking 2020 Ranking 2021 Change from 2020 to 2021
Australia (AU) 25 24 24 0
Austria (AT) 5 5 seven -2
Belgium (BE) 9 18 18 0
Canada (CA) 16 16 16 0
Chile (CL) 37 37 37 0
Colombia (CO) 36 35 35 0
Czech Republic (CZ) 12 12 12 0
Denmark (DK) 28 30 30 0
Estonia (EE) 15 15 15 0
Finland (FI) 21 21 21 0
France (FR) 17 13 13 0
Germany (DE) seven seven 6 1
Greece (GR) 29 25 25 0
Hungary (HU) 4 4 4 0
Iceland (IS) 30 31 31 0
Ireland (IE) 19 19 19 0
Israel (IL) 13 ten ten 0
Italy (IT) 26 27 26 1
Japan (JP) 20 26 27 -1
Korea (KR) 33 33 33 0
Latvia (LV) ten 9 9 0
Lithuania (LT) 24 23 23 0
Luxembourg (LU) 6 6 5 1
Mexico (MX) 35 36 36 0
Netherlands (NL) 2 3 3 0
New Zealand (NZ) 23 22 22 0
Norway (NO) 11 11 11 0
Poland (PL) 27 29 29 0
Portugal (PT) 31 28 28 0
Slovak Republic (SK) 34 34 34 0
Slovenia (SI) 22 20 20 0
Spain (ES) 18 17 17 0
Sweden (SE) 14 14 14 0
Switzerland (CH) 3 2 2 0
Turkey (TR) 8 8 8 0
United Kingdom (GB) 1 1 1 0

Source: International tax competitiveness index 2021.

Launch our International tax competitiveness index

Udaan revenue increased 6X to 5,919 Cr in fiscal year 21 Tue, 11 Jan 2022 04:31:27 +0000

B2B e-commerce platform Udaan remains the leader in the wholesale sourcing space among startups and recently raised another $ 250 million to fuel its growth story.

It looks like travel constraints and disruption to traditional supply chains from Covid 19 created a whole new world of opportunity for the Lightspeed-backed company during the year and Udaan saw its revenue increase by 6X to hit 5,919 crore in FY 21 from just Rs 978 crore in FY20.

The sale of goods traded on the online platform by Udaan was the company’s main revenue driver, accounting for 94.41% of annual revenue. These sales jumped 8.8 times to Rs 5,588.4 crore in FY21 from just Rs 632.7 crore in FY20.

The company also collects platform fees from other platform vendors and this collection increased 7.5% to Rs 188 crore in FY21.

Udaan provides financing services to merchants on its platform and collects interest and processing fees from them. Credit facilities are provided to sellers and buyers who trade on the Udaan platform, bearing interest ranging from 0% to 24% per annum and having a maturity of 7 to 90 days.

The platform’s revenue from financing services grew 96% year-on-year to Rs 34.1 crore, while its loan portfolio grew 46.8% from 217.5 crore to end of year 20 to 319.3 end of year 21.

Providing delivery services (logistics services) and cash collection to its customers generated Rs 59.5 crore while sales of returned goods as scrap brought in an additional Rs 33.7 crore for B2B Unicorn during exercise 20-21.

The company had raised $ 280 million at the start of the fourth quarter of FY21 as it was operating at an exponential scale during that period and filled orders 8 times over the corresponding quarter of FY20.

Purchasing commercial inventory from manufacturers is the most important cost center for Udaan, accounting for 63.3% of its annual costs, with FMCG being its largest product line. Cost of goods sold increased in line with sales, up 8.5 times to Rs 5,531.7 crore in FY21 from Rs 650.3 crore in FY21 20.

At the start of FY21, Udaan had fired around 1,000 contract workers at the height of the first wave of the pandemic to conserve capital. He eventually hired more for the remainder of the year as order volumes surged and contract labor costs rose nearly 3% to Rs 620.5 crore.

The Bengaluru-based startup’s personnel costs doubled during this hyper-growth phase, with personnel costs being the second largest expense, accounting for 10.6% of its total costs. Employee benefit payments doubled from Rs 430 crore in FY20 to Rs 923.5 crore in FY21 and included ESOP payments of Rs 240 crore (i.e. say nearly 26% of salaries paid).


Overall, the six-year-old company incurred Rs 8,742 crore in total expenditure in FY21, 2.4 times more than Rs 2,675.2 crore booked in FY 20. At the level Unit, he spent Rs 1.48 to earn a single rupee of operating income, improving by 60.6% from Rs 3.76 spent for the same in FY20.

The combination of increased operational efficiency and sales growth has helped the company reduce its annual losses by 1.4% year-on-year to Rs 2,482.3 crore in FY21, even with a scale increase of 8.8 times. EBITDA margins improved significantly from -226.3% in FY20 to -37.3% in FY21.

Is Udaan a market place?

While those numbers look impressive, its income statement indicates that this is a stocks game, not a market. This is also evident in his market fee collections which contributed barely 3% of Udaan’s total income.

We understand that food and FMCG contributes around two-thirds of Udaan’s sales and that 100% of foreign direct investment (FDI) is allowed in food-focused B2B and B2C e-commerce games. . Still, it’s surprising that over 94% of Udaan’s sales come from the food and FMCG verticals. The company has changed Rs 5,588.4 crore in revenue from merchandise trade (via inventory driven play) in FY21.

Udaan declined to comment on the story.

Even if Udaan were to claim that the pandemic resulted in exceptional growth in its food and FMCG business which together contributed over 94% of its total collection in FY21, that will not detract from the premise of the inventory-driven model as the company generated around 65% of its revenue through the sale of traded goods in FY2020 as well.


Until FY19, the sale of traded goods was not a significant part of Udaan’s income, and its operating income could not exceed Rs 50 crore. Operating income then rose sharply, increasing by around 21X to Rs 978 crore in FY20, with the sale of merchandise (Rs 638 crore) contributing most of the upsurge.

The business model, although it is a ticket to high revenue, is a low-margin business unlike the market model, once it reaches scale. It should be interesting to see what made Udaan go all-in on the business model, while apparently allowing the market model to catch up later, or maybe even give up in time?

Other Filipino Students Call on Government to Prioritize Repatriation – SIBC | Voice of the Nation Mon, 10 Jan 2022 10:53:52 +0000

Anxiety and depression are wreaking havoc on the mental health of the remaining local students who have been stuck in quarantine in a hotel in the Philippines for almost a year now.

Regal Residence Hotel in Quezon City, Metro Manila, where five local students have been in quarantine since March of last year. Photo provided.

Triggered by isolation and fear, the five Solomon Islands Government-sponsored students (SIG) are calling on the government to prioritize their repatriation flight as soon as possible.

Speaking on their behalf in a telephone interview from his quarantine room, a spokesperson, an aviation student Junior Aba, said the government planned to repatriate them this month. next month.

“If they move the repatriation flight again, it will cause another problem with our visa and that is what concerns us right now,” Aba said.

The five students have been in quarantine at the Regal Residence Hotel in Quezon City, Metro Manila, since March of last year.

Aba said she has met all of SIG’s mandatory Covid-19 requirements, which include three Covid-19 tests and full doses of vaccination.

“We have fulfilled all the mandatory requirements required by SIG. Before moving to this hotel last year we did three Covid tests to prepare for the repatriation flight, after moving in we waited months and that’s where our visa expired.

“We asked the National Scholarship Division (NSD) for a Covid-19 emergency allowance and they paid us, which helped us extend our visa. They told us they would repatriate us later, but this plan has been repeatedly moved and extended so far, ”Aba said.

He said they were then given a new requirement to get a full vaccination which they would comply with later.

“One frustrating thing is that they promised to bring the vaccination to our doorstep, but this has also been delayed several times, so we have to collect our vaccines from the vaccination sites in the city.

“We are surprised to see that students and nationals of other countries have been repatriated to their homes, including those who have gone to Dubai, have returned home,” said Aba, who was only one year old to return home. complete his studies.

He said the recently reported positive Covid cases had been brought into the country by nationals returning from those countries.

Aba said he wastes time staying in a hotel that final year students should have used to complete their studies.

“Another student and I were supposed to finish our studies, but due to a call from SIG to repatriate last year, we have no choice,” he said.

Since the repatriation flight has moved again, the students’ only hope rests on the Covid-19 emergency allowance.

“Now that they are extending our repatriation again, our only hope is that the government will grant us a Covid-19 allowance so that we can extend our visa for repatriation next month as they promised in the Talk-back Show. yesterday, ”Aba adds.

He said staying in quarantine for this long affected their mental health every day and that at one point a student came to show signs of mental instability.

“Locked in a room every day there are all kinds of things that can come to our mind, we are all affected mentally. One night one of the Solomon Islands students we are staying here was running and screaming during the night. We thought the student was possessed, but maybe it was a sign of great anxiety because of the long period of quarantine, ”Aba said.

Yesterday, the permanent secretary of the Department of Education, Dr Franco Rodie, said on a talk show that there are currently seven students from the Solomon Islands still living in the Philippines.

He said the government hopes to get them home before the end of February.

Dr Rodie said this was because the students still had health and quarantine requirements that needed to be addressed.

by Jared Koli

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Bosnian Serbs Hold Nationalist Celebration Despite Ban and Sanctions | News Sun, 09 Jan 2022 16:33:14 +0000

The Bosnian Constitutional Court declared the holiday illegal because it discriminates against Bosnian Muslim and Croatian Catholic communities.

The Bosnian Serbs staged public celebrations to mark the national day of their Autonomous Serbian Republic, defying a supreme tribunal’s ban on commemoration and US sanctions imposed on their leader Milorad Dodik this week.

The January 9 holiday commemorates the date in 1992 when the Bosnian Serbs declared the establishment of their own state in Bosnia and Herzegovina. He unleashed a devastating war that lasted almost four years and left 100,000 dead.

The date also coincides with a Serbian Orthodox Christian holiday, and it is this religious component that led the Bosnian Constitutional Court to declare the holiday illegal because it discriminated against the Bosnian Muslim and Croatian Catholic communities in the region.

More than 800 armed police, including members of counterterrorism units, gendarmerie and cavalry, took part in the parade on Sunday alongside students, veterans and athletes through the streets of the region’s largest city. , Banja Luka.

Crowds of spectators and demonstrators waved red, blue and white Serbian flags. Members of a special police unit sang songs referring to the Serbian Republic as a state of Christian heritage.

Liljana Smiljanic of Al Jazeera, reporting from Banja Luka, Bosnia, said that if for Serbs the date was “sacred” it meant something completely different for Bosnians.

“They [Bosnian Serbs] say it [January 9 holiday] guarantees them freedom and the best living conditions in Bosnia and Herzegovina. On the other hand, for the Bosnians… this is the beginning of the horrors of war they endured in the 90s, and later of the war crimes and genocide in Srebrenica, ”she added.

Bosnian member of the Tripartite Presidency Milorad Dodik greets people in a parade to mark the national day of their Autonomous Serbian Republic [Antonio Bronic/Reuters]

The parade and other ceremonies were attended by senior officials from neighboring Serbia, including Prime Minister Ana Brnabic and Speaker of Parliament Ivica Dacic. Russian and Chinese diplomats in Bosnia and several officials of the French far-right Rassemblement national party were also present.

There was no sign of the Bosnian Joint Armed Forces Serbian regiment, which had been deployed for the parade in previous years. Instead, the focus was on the militarized police force, which led the parade with specially designed combat vehicles as helicopters flew overhead.

Secessionist ambitions

Dodik, who is currently a Serbian member of the Bosnian interethnic tripartite presidency, said “that there is no freedom for the Serbian people without the state”, in a speech to the crowd watching the parade.

The pro-Russian nationalist has repeatedly threatened to withdraw Serbian representatives from the Bosnian armed forces, tax system and judiciary and to create separate Serbian institutions.

Last Wednesday, he was freshly sanctioned by the United States for corruption and undermining the stability and territorial integrity of Bosnia.

The Dayton Peace Agreement brokered by the United States in 1995 ended three and a half years of ethnic warfare in Bosnia, dividing the Balkan country into two self-governing regions – the Serbian Republic and the Bosnian-dominated Federation and the Croats.

“Everything he does and announces he will do is not in accordance with the constitution of Bosnia and Herzegovina as well as the Dayton Peace Agreement,” said Smijanic of Al Jazeera.

“It’s a base for everything here in this country,” she added.

Dodik’s secessionist rhetoric in recent months has encouraged Serbian nationalists, who in recent days have provoked incidents across the Serbian Republic, shooting in the air near mosques during prayers, publicly praising convicted war criminals and threatening their victims. Muslim neighbors.

He described the Bosnians as “second class people” and “traitorous converts” who sold their “original [Orthodox Christian] faith for dinner ”.