Rome [ENA] The European Commission has on 18 January 2018 planned new rules to give Member States more flexibility to set Value Added Tax (VAT) rates and to create a better tax environment to help SMEs flourish. These proposals were the concluding steps of the Commission's renovation of VAT rules, with the creation of a single EU VAT area to drastically reduce the €50 billion lost to VAT fraud each year in the European Union,   [Full story...]

Rome/Beijing [ENA] People's Republic of China's trade surplus reached new records in September, reaching US $ 34.1 billion compared with $31.05 billion in August, despite US duties on the import of "made in China" goods and tit-for-tat tariffs against each other’s goods. The USA trade deficit exists because exports to China were only $130 billion while imports from China were $506 billion.According to Chinese customs, exports grew by   [Full story...]