Internet is todays one and the most used network channel.  Through Internet you can connect anywhere across the world for any purpose.  This is all possible due to fast growing technology, the web-based technology.  Experts in this technology develop web sites for organizations, companies, etc.

This technology is called web designing.  This technology has made business very simple, “at the click of mouse.”  The entire portal of a particular organization or a business entity can be found on companys website.  The websites have a name with an extension like.com, .org, co.in, etc.  Apart from this, various portals are available that help you to connect various parties with each other.  For example, a portal called indiamart.com, through which a seller can find buyers for his product and vice versa, a buyer can search for dealer in a particular product.  A business deal can be done in this way.  Nowadays there is a trend of online trading.  You don’t have to go to a stock exchange to buy and sell stocks.

It can all be done through online trading through BSE portal.  You can send an urgent message to anybody via email within fraction of seconds.  Any information you want relating to any person, place, product, address, doctor, lawyer, any retail outlet can be obtained within seconds through Google.  Railway booking can be through internet, just sitting at home, in 2 minutes.   People can hold live chat with clients and subordinates through various portals like MSN, Yahoo, Net meeting.  In fact, the technology has progressed so far that you can now even watch your business associates via video conference and conduct conferences and meetings from any part of the world.

You can finalize a deal just while travelling in your car.  There are many jobs which people can do sitting from their home.  Transcription (legal, medical, business) is one such occupation through which many people across the world are working from the comfort of home.  This is called “online job processing work.

Banking has become easier and simpler through Net banking.  You can carry out transactions right from your mobile itself.

NEW YORK Over the last three years the EU has lost out on more than EUR 30 billion in tax revenues, as more and more taxpayers choose to purchase cigarettes of the black market.

The consumption of counterfeit and contraband cigarettes in Europe continued to rise for the sixth year in a row, leading to billions in lost tax revenues, according to a report commissioned by the international cigarette manufacturer Philip Morris International.

According to information in the report, in 2012 nearly 65.5 billion illegal cigarettes were purchased in Europe, accounting for over 11.1 percent of all cigarettes consumed in Europe, compared to approximately 10.4 percent in 2011.

Cumulatively the EU lost an estimated EUR 12.5 billion in tax revenues from the illegal sales, as the purchase of counterfeit and contraband tobacco products is largely untaxed.

It is estimated that if all of the illegal purchased cigarettes consumed in the EU since 2010 were sold on the legitimate market, the cumulative tax revenues which could have been raised would have been as high as EUR 34.3 billion.

Excessive taxation was labelled as one of the reasons fueling the continuing consumption of illegal cigarettes, with the findings in the report placing part of the cause on extreme tax and regulatory schemes that shift consumption from the legal to the illegal tobacco market.

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This entry was posted on Monday, April 22nd, 2013 at 12:01 AM.
Categories: Taxation in EU.

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This is our monthly investment portfolio report. I view our ability to invest with above average rates of return as the most important factor in reaching our financial freedom goals. This investment report covers our taxable portfolio and IRA retirement accounts. My 401k (which is roughly 1/2 our portfolio) is not included as the index funds it includes are not publicly traded and difficult to incorporate in this report.

February Highlights:

• Our portfolio had a lackluster month. We saw saw a paper increase of 0.49% for our portfolio vs 1.10% for our VTI benchmark.
• In February we did some profit taking and sold off an initial 100 shares of our Bank of America holdings. Its had a tremendous increase in value over the past 6 months and I figured it was a good time to take some of our investment back to cash.
• The market’s continued rally has given me a bit of pause over valuations. While I am not complaining with the recent rise, I believe equity returns could be less attractive. I’ll be easing into a more conservative investment posture if the market continues to rally.

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The interest rates charged on credit cards have recently reached a 13-year high. Since legislation has changed the rules about how interest can be charged, card companies are raising the base rates to make up lost ground. It is working, as credit card companies are also posting high revenues.

The interest rates on credit cards is reaching a 13-year high, according to CNN. The current average interest rate for credit cards is 14.72 percent. However, the interest rate charged to a customer varies between card issuers and also can depend on credit scores. People with poor credit ratings can be charged interest rates in excess of 50 percent. The average APR on credit cards has been rising over the past two years, as the recession ate into card company and bank profits. On top of consumers being less willing to add to their debt, Congress passed the CARD Act, which prevents credit card companies from raising interest rates after a customer signs an agreement or without due notice.

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Cusicks Corner 05-07-2013 After Hours The grind higher continues and market averages are again sporting gains heading into the final 90 minutes of trading Tuesday. The economic calendar remains light until jobless claims Thursday morning. On the earnings front, DirectTV (NASDAQ:DTV), Fossil (NASDAQ:FOSL), and EOG Resources (NYSE:EOG) are among a handful of names trading higher on the heels of their respective reports. Hologic (NASDAQ:HOLX), First Solar (NASDAQ:FSLR), and Molson (NYSE:TAP) are seeing post-earnings weakness. Elsewhere, Japans Nikkei surged 3.6 percent overnight after being closed since last Thursday. Stock market averages were modestly higher across much of Europe, with Germanys DAX reaching new record highs. However, crude oil is off 50 cents to $95.66 and gold shed $20.5 to $1447.5.

Bullish Caterpillar (NYSE:CAT) sees bullish trading for a second day. 52,000 calls and 17,000 puts traded on the stock Monday, led by an opening buyer of 15,000 May 80 calls on CAT for 50 cents per contract.

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An annual study of on-the-job deaths found that 141 Michigan workers were killed during 2011. That’s a rate of 3.5 deaths per 100,000 workers — the same as the overall U.S. rate.

Nationally, Michigan ranks 24th among all states, according to the report “Death on the Job: The Toll of Neglect” produced by the AFL-CIO union annually.

Too many workers overall are at risk, said Christos Michalakis, president of the Metro Detroit Central Labor Council.

“A lot of work still needs to be done to ensure that no worker fears for his or her health and well-being on the job,” Michalakis said in a statement.

Transportation incidents, in particular roadway crashes, continue to be the leading cause of workplace deaths in Michigan and nationally. In the state, transportation incidents accounted for 46 on-the-job fatalities. That was followed by 33 assaults and violent acts in Michigan, according to the report.

Most deaths of road workers are caused by drivers who are either going too fast, or are distracted and ignore roadside warnings in work zones, said Kirk Steudle, director of the Department of Transportation, in a written statement.

“The majority of the responsibility to create a safe environment is on the driver more than anyone,” Steudle said. “

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The major U.S. index futures are pointing to a lower opening on Wednesday, with sentiment reflecting apprehensions of traders, as the markets trade in record territory. Although economic fundamentals point to strength in global growth, the overbought levels may push wary traders to take profit on recent gains. Earnings news of the day has largely been positive. Meanwhile, overseas data of the day was strong, with China reporting strong export growth and German industrial production growth outperforming expectations. Given the opposing forces of strong economic catalysts in one hand and fears of a pullback in another hand, the markets may go about a consolidation move around current levels.

U.S. stocks advanced on Tuesday, acting on data showing an unexpected increase in German factory orders and fairly robust corporate results, with the Dow Industrials and the S&P 500 Index racing to new record closing highs.

The major averages opened higher and moved roughly sideways in early trading.

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