Category: Money

What is the comparison of average annual wages across Europe? Belgium ranks in the top 5 with an annual gross income exceeding 60,000 euros. While worker regulations in Europe generally prioritize individual working conditions and rights, substantial variations in wages persist among EU Member States, influenced by various factors. In 2022, Iceland recorded an average annual wage of around 73,000 euros gross, whereas Greece reported a significantly lower figure of about 24,000 euros gross. As per Statista, a statistical database providing market and consumer data, the average annual wage across…

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Belgium must still reclaim hundreds of millions of euros in taxes from approximately 55 multinational companies. The exemptions that the country granted to the companies amounted to prohibited state aid. That’s the ruling of the European Court. The verdict puts an end to a long-standing issue. In 2016, the European Commission urged Belgium to collect 700 to 900 million euros from the companies, claiming that they had unlawfully benefited from the tax measures. Belgium contested this and initially won the case. However, after a referral through an appeal, the Court…

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Dutch savings banks often offer significantly higher interest rates in Germany than to savers in the Netherlands. In Belgium, on the other hand, savings rates are much lower. Why is it so? For example, Dutch customers of ING receive a 1.25 percent interest rate on their savings accounts. In Germany, savers receive a 3.5 percent interest rate, as calculated by the comparison website Geld.nl. One reason for the high interest rates is that there are many more different savings banks active in Germany than in the Netherlands. “Banks have more…

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When it comes to fiat currency, there are 9,630 centi-millionaires on Earth. They all have a net worth of at least $100 million. Only 182 people on our planet with more than $100 million in crypto According to a recent study by the financial advisory group Henley and Partners, dozens of global crypto entrepreneurs are now centi-millionaires. Nearly half of them have amassed their wealth through holding or trading Bitcoin (BTC), the most valuable cryptocurrency in terms of market capitalization. “This report, unique of its kind, contains exclusive statistics on…

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Italian Prime Minister Giorgia Meloni exerted pressure on the European Commission on Sunday to approve the agreement in which Lufthansa would take a minority stake in the Italian airline ITA, the successor to Alitalia. The responsible Commissioner, Didier Reynders, who has taken over the competition powers from Margrethe Vestager, made this decision recently. Meloni criticized European authorities on the sidelines of the G20 summit in New Delhi, saying, “Something strange is happening. The same European Commission that has been asking us for years to find a solution to the ITA…

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A regular feature of public debate: Belgium is living beyond its means. Or, more precisely, the Belgian government spends too much, and it is primarily social security that comes under scrutiny. But is it true that Belgium spends more on social policy than comparable countries? In a new study by Think Tank Minerva, we examine social spending in Belgium and in twenty other high-income countries. Different countries can organize their social policy in very different ways, and a proper comparison of spending levels in those countries must take that into…

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The Belgian construction materials company is on track for record results this year, despite the downturn in the construction industry. Etex has finally found a solution for its activities in Russia. Etex has exited Russia. It has divested its two local factories, as reported in the company’s semi-annual report. Earlier this year, the company indicated that it was close to finding a solution. “But we don’t want to give the Russian buyer a gift. At the same time, we want a fair solution for our employees who have always remained…

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Uniqlo is launching its Belgian webshop today, catering to both Dutch and French consumers, as announced in a press release. Customers will enjoy free shipping on orders over sixty euros. “We are thrilled to make it even easier for our Belgian customers to purchase their favorite LifeWear products from the comfort of their own homes and in their preferred language. In addition to our physical stores in Antwerp and Brussels, we are looking forward to enhancing the online shopping experience of our LifeWear concept,” stated Kaman Leung, COO Uniqlo Benelux,…

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Cryptocurrency exchange Binance announced in June that it would completely cease offering its services to Dutch users. There seemed to be a temporary sense of security for users in Belgium, but shortly after, it also withdrew from Belgium. However, this was short-lived, as it is now allowed to resume providing its services to Belgians. Binance states this in a blog article. The company had to halt its services to Belgian residents because it provided services to individuals in Belgium who were not part of the European Union. This was deemed…

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Staffing company Randstad is contesting tax claims exceeding 72 million euros in Belgium. The Belgian tax authority has accused the company of fiscal abuse due to an extremely favorable deal with the Swiss tax authorities. The Belgian tax authority had imposed multiple claims on Randstad’s companies there due to profit shifting. A spokesperson for the Dutch staffing group stated that Randstad is appealing a court ruling in which the Belgian tax authority was supported. According to De Tijd, the Special Tax Inspection (BBI) is accusing Randstad of fiscal abuse. The…

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