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Brand-new firm aiming to finance denied exporters

May 17, 2016 | 08 Comments | 26 Likes

A Switzerland-based investor, who made a fortune after Limerick bioscience firm Gencell was sold for $150m, is backing a new company that aims to assist Irish companies target exports to the Middle East, India and former Soviet nations.

Richard Hubbard was amongst the financiers in Gencell Biosystems when it was sold in 2014 to United States firm Becton Dickinson. The Irish company had actually just been developed 3 years earlier and had raised 6m from backers including Enterprise Ireland.

Mr. Hubbard, a UK native, is now a director of Irish firm Persium plc, which intends to offer export and investment assistance to customers intending to export to a number of countries for which export-related finance may be normally more difficult to protect. I just found a great list of My Payment Savvy here mypaymentsavvy.com .

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No deal for Google tax, French finance minister cautions after Paris raids

May 17, 2016 | 08 Comments | 26 Likes

France has no intents of pulling back on Google taxes, French finance minister Michel Sapin verified, after French tax authorities robbed the Parisian workplaces of the Silicon Valley search giant recently.

Sapin stated he didn’t do deals like Britain but would follow the letter of the law, taxing Google the optimum quantity owed. "We'll go all the method. There could be other cases," he told European reporters on Sunday.

French authorities are stated to be pursuing some 1.6 bn (1.2 bn) in corporation tax and VAT from Google, after the Californian company paid simply 5m of taxes in France on 225.4 m revenues in 2014.

The morning raid was part of a tax fraud investigation penetrating whether Google has been averting French corporation tax by transporting its revenues through its Irish headquarters and laundering the earnings. If found guilty, Google will deal with fines of up to 10m (7.60 m) or half of the value of the washed amount involved.

 

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India tells Apple: You can open stores in the country, if you create tasks

May 17, 2016 | 08 Comments | 26 Likes

Foreign companies excited to sell products in India should also develop tasks in the country, Indian Finance Minister ArunJaitley informed CNBC in an interview, amid efforts by tech giant Apple to win approval to open its own retailers in Asia's third-largest economy.

Apple's application targeted at improving sales in India and countering a slowdown in China has yet to be approved, as India usually needs single-brand retailers to source a minimum of 30 percent of their basic material requires from local suppliers.

Jaitley stated the believed process behind the guideline, which was put in location by the previous United Progressive Alliance coalition, was sound.

 

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