The course supports the other Traderun courses, especially the course related to EU cooperation with Russia and Eastern Partnership Countries. 3 1. LEGALIZATION OF A COMPANY WITH A FOREIGN OWNER IN RUSSIA Today the investment attractiveness of Russia is very high. In addition to the dynamic pace of development of the economy, Russia offers to foreign investors increasing every year the market of goods and services to consumer and business. Most often, this together with the high rate of return on invested capital is a crucial factor in the decision to enter the Russian market. One possible way to full implementation of business activities on the territory of the Russian Federation - is the creation of a legal entity. An enterprise with foreign capital - is created on the territory of the Russian business- organization whose founders are foreign citizens or organizations
TAXATION To tax- maksu võtma kelleltki (riigimaksu) Taxation- maksustamine, maksundus Primary fonction of taxation- To collect money to government expenditures. Direct tax- are collected by the government from the income of individuals and businesses. Indirect tax- are levied on the production or sale of goods and services. They are included in the price paid by the final purchase. Business profits are generally taxed twice- After the company pays tax on its profits, the shareholders pay income tax on any dividends recieved from these profits. Progressive tax- people with higher incomes pay a higher rate of tax than people with lower incomes. Proportional- tax that is imposed at a fixed rate. Regressive tax- (direct taxes are usually) people with a lower income pay a proportionally
........................................................................................... 37 1.8. Taxation ..................................................................................................................... 39 1.8.1. Corporate income tax (CIT) ............................................................................... 39 1.8.2. Withholding Tax (WHT) ..................................................................................... 41 1.8.3. Value Added Tax (VAT)...................................................................................... 42 1.8.4. Transfer Pricing (TP) ......................................................................................... 43 1.8.5. Personal taxation ............................................................................................... 44 1.9. Financial Reporting ................................................................................................... 45
stitutes a further milestone in the development of tax legislation. Licenses and permits - Georgia has dramatically reduced licensing and permitting requirements to ease constraints on business. The total number of licenses and permits was cut by 84% in re- forms that eliminated 756 licenses and permits and streamlined procedures. Currently, licenses and permits are only used in the production of highly risky goods and services, also usage of natural resources and specific activities. The procedures of issuing licenses and permits were significantly simplified to the "one-stop shop" and "silence is consent" principles. Customs Reform - From January 1, 2011 the new Tax Code of Georgia took effect which also includes the provisions regulating customs. Tax Code established business friendly customs pro- cedures. Customs Tariffs Reform significantly eased and sharply reduced the costs connected to
EU Internal Market Group Work I: History and Purpose of the Internal Market Please connect terms (numbers) with correct description (letter), for example 17 M 1 Common Market A ... is characterized by free movement of goods between the participating countries, but autonomous external trade policies in relation to non-participants. 2 Comparative B A top-down approach to integration that can be best Advantage explained by market failure.
The primary function of taxation is to raise revenue to finance government expenditure. Different countries have different tax systems. Income taxes in most countries are progressive. Estonia has had so far a flat tax rate which is quite unique in the world. The problem with progressive taxes is that the marginal rate- the tax people pay on any additional income - is always high, which is generally a disincentive to both working and investing. The higher the tax rates, more people are tempted to cheat. Some employers give highly paid employees lots of perquisites such as company cars, free health insurance, and subsidized lunches. Taxation Act in Estonia was passed in 2002. Taxes are divided into direct and
......................................................................................................................5 A-2 CONTRACT PRICE (ART. 4)...................................................................................................................................5 A-3 DELIVERY TERMS..................................................................................................................................................5 A-5 INSPECTION OF THE GOODS BY BUYER (ART. 3)...........................................................................................6 A-6 RETENTION OF TITLE (ART. 7)............................................................................................................................6 A-7 PAYMENT CONDITIONS (ART. 5)........................................................................................................................6 A-8 DOCUMENTS.......................................
nice firm handshake. The most common greeting is "tere" ("hello"). Titles are very important. "Härra" is for Mr, "Prova" is Mrs and "Preili" is Miss. All should be followed with the surname. Only use first names once you have been invited to do so. Gift Giving Etiquette Gifts are usually exchanged for birthdays and at Christmas. Gifts need not be expensive as it is more about the thought than monetary worth. If you are invited to an Estonian's house, a decent gift is a bring a box of chocolates or flowers. Flowers should be given in odd numbers. Gifts are usually opened when received. Dining Etiquette Arrive on time. Punctuality is expected. Call if running late. Check to see if shoes are being worn in the house. Do not expect a tour of the house - homes are private. Dress conservatively. Try and offer to help the hostess with the preparation or clearing up after a meal is served. This will be turned down but is nonetheless polite.
järgmine ettepanek - following proposal ülelpool mainitud lakk - the varnish mentioned above meil on väga soodsad muljed - we are very favourably impressed meil oleks suur rõõm arutada tingimusi - It would be a pleasure for us to discuss the terms sobiv mõlemale poolele - suitable for both parties kaubandusmessist osa võtma - to participate in the trade fair me katsetame seda meie dekoratiivtoodeteo - we would try it out on our decorative wood products proovipartii - a consignment on approval me ootame peatset vastust - we are looking forward to an early reply 43 pikaajaline leping - a long-term agreement väga hea nõuanne - (a) very good advice 44 peegeldama kujutlust - to reflect the image kiri peaks olema sisutihe ja viisakas - the letter should be concise and polite on hea mõte teha nimekiri - it is a good idea to make a list sissejuhatav lõik - the introductory paragraph teate mõte - the idea of a message
Serial conversation is the rule - i.e. listen to the speaker, wait for them to finish and then reply. Interrupting is rude. Finnish Meeting Etiquette Greetings are formal, with a firm handshake, direct eye contact, and a smile. It is common practice to repeat your first and surname while shaking hands. When greeting a married couple, the wife should be greeted first. Finnish Gift Giving Etiquette If you are invited to a Finn's home, bring flowers, good quality chocolates or wine to the host. Flowers should not be given in even numbers. Do not give white or yellow flowers since they are used at funerals. Do not give potted plants.
Lecture 1: The mountebank pharmacy. Price: 60% of average turnover on last 2 years + 10% of profits per year during next 2 years (võib olla kasumit ei tule, kuna on vaja investeerida). Quack bank present buiseness plan by 8 november, presentation 9 november long term loan (10 years), at 4,8% interest rate. Conclusion I need this sum of money from bank. Business plann: 1. management summary 2. organisational profile 3. internal analysis 4. external analysis 5. strategy 6. financial prognosis Group feedback 7/11. Leadership and management A good manager is competent in all different management styles, and knows when to apply which style. 1. Autocratic 2. Democratic 3
Police warn of 'lethal' fake beauty products on sale Police have warned that rats' droppings, human urine and arsenic have all been found in potentially lethal fake beauty products on sale to British consumers. Counterfeit make-up, perfume, hair straighteners and sun creams are all affected, warn the City of London Police. At least £90 million is spent every year on fake items as the rapid growth of online shopping has expanded the market. Counterfeit beauty products have become increasingly common and are readily available on auction sites, online forums and social media. Authenticating products has become more challenging as shoppers are unable to physically inspect items before committing to purchase them. Police warned that criminals are using generic stock images to deceive consumers into believing the items they are browsing are authentic. Fake electrical items have been singled-out by authorities as a particular risk.
Financial accounting focuses on reporting to external parties such as investors, government agencies, banks and suppliers. It measures and records business transactions and provides financial statements that are based on GAAP. Cost accounting measures, analyzes, and reports financial and no financial information relating to cost of acquiring or using resources in an organization. Value-chain analysis: sequence of business functions in which customer usefulness is added to products and services. 1. Research and development 2. Design of products, services, or processes 3. Production 4. Marketing 5. Distribution 6. Customer service. Supply chain describes the flow of goods, services, and information from the initial sources of materials and services to the delivery of products to consumers, regardless of whether those activities occur in the same organization or in other organizations. Five step decision making process: 1. Identify the problem and uncertainties. 2
PRODUCTS and BRANDS 1. product catalogue - a list of different products of one company 2. product mix - a range of similar in some way products considered together 2. product range - different particular and specific products of a company 3. product lifecycle - the stages of product lifetime and amount of people who use it at each stage 4. product positioning - is how we see a product or how a company would like us to see it in relation to other products 5. product placement - hidden commercial of a product. Customer can see a product in films, music videos and so on. 6. raw materials - basic materials from which products are made or manufactured 7. finished goods - are goods(products) that have completed manufacturing process and are ready to be sold and used by the end user 8. consumer goods - goods which are produced to satisfy consumer current needs and are bought for individual use 9
THE INTERNET AND E-COMMERCE 1. ISP it is a organization that provides internet access. The internet service provider. 2. e-tailing - the selling of goods and services on the Internet or through e- mail solicitation. 3. B2C.- business-to-consumer, selling to the public on the internet. 4. e-procurement - 5. B2G business-to-goverment, business applay for government contracts and pay taxes. 6. shopping cart Shopping cart is where you put product you have purchased from online shop. 7. last mile problem how to deliver products, purcased on internet to the customers 8
No leg should show between pants and shoe. Remove your their when indoors. · Women: do not overdress for daytime or wear flashy or noisy jewelry. American women do not wear a lot of makeup to the office. Low-cut blouses, short skirts and tight clothing are not suitable office. 3.BEHAVIOR · Business conversation may take place during meals. However, many times you will find more social conversation taking place during the actual meal. · If you do give a gift, it should not appear to be a bribe. · If you are someplace with a line or queue, go to the end and wait your turn. · Do not use or chew on a toothpick in public. · Many public places and private homes do not allow smoking. 4.GIFTS · Always remember to send a thank-you note or card within two weeks of receiving a gift. If you are given the gift in person and open it in front of the giver, a thank you note is usually not expected
UNIT 3-4 Retailing - Jaemüük the business of selling goods to the general public Retailers - Jaemüüjad sellers Shop store Pood - place, where you can buy things Outlets - Firma esinduspood a retail outlet Retail chains - Jaeketid - one company but many shops Shopping centres - Ostukeskused - malls Hypermarkets or superstores hüpermarketid vs supermarketid Retail Park - Ärikeskus - there is number of large stores Department store - Kaubamaja - large shop which sell a wide variety of products Assuming Eeldamine expecting
INTRODUCTION OF SUPPLY CHAIN MANAGEMENT (SCM) A supply chain is a network of facilities and distribution options that performs the functions of procurement of materials, transformation of these materials into intermediate and finished products, and the distribution of these finished products to customers. Supply chains exist in both service and manufacturing organizations, although the complexity of the chain may vary greatly from industry to industry and firm to firm. Supply chain management is typically viewed to lie between fully vertically integrated firms, where the entire material flow is owned by a single firm and those where each channel member operates independently. Therefore coordination between the various players in the chain is key in its effective management
· Men and women wear wools and tweeds for casual occasions. Slacks, sweaters and jackets are appropriate for men and women. · For business meetings, men should wear dark suits and ties. Women should wear suits, dresses or skirts and blouses. · Do not wear a blazer to work. A blazer is country or weekend wear. *gifts · Gifts are normally not exchanged in business settings. · When invited to someone's home, always bring a small gift for the hostess. Give flowers, chocolates, wine, champagne or books. · Gifts are opened upon receiving. · It is polite to send flowers in advance of a dinner party. Do not send white lilies, which denote death. *helpful hints for a foreigner · Men should open doors for women and stand when a woman enters a room. · Always hold the door for a person following behind you. · Respect the British desire for privacy
relative amounts of the different inputs to be used. Production is an activity where resources are altered or changed and there is an increase in the ability of these resources to satisfy wants. · Before goods can be distributed or sold, they must be produced. · Within the market model, production and costs of production are reflected in the supply function Production, more specifically, · the technology used in the production of a good (or service) · the prices of the inputs determine the cost of production. Production processes increase the ability of inputs (or resources) to satisfy wants by: · a change in physical characteristics · a change in location
606. collection of revenue kogu riigitulu 607. budget law eelarveõigus 608. tax law maksuõigus 609. financial law finantsõigus 610. multiple other provisions rohketes teistes sätetes 611. right to emit õigus emiteerida 612. is vested solely kuulub ainsana 613. manages money circulation korraldab raharinglust 614. national currency rahvusvaluuta 615. is accountable annab aru 616. legal tender seaduslik maksuvahend 617. nominal value nominaalväärtus 618. amending parandamine/täiendamine 619. credit the state budget krediteerima riigieelarvet 620. council nõukogu 621. entrusted with the right on antud õigus 622. to establish regulations sisse seadma/kehtestama regulatsioonid 623. settlement operations arveldusoperatsioonid 624. activities of financial institutions majandusasutuste tegevused 625. nominated by määratakse ametisse 626. a term of 5 years 5 aastaseks ametiajaks 627
Marshal aid 3)When did world trade start booming before or after 1950? After 3 top exporting continents in the world: Asia 56%, Europe 19%, North America 10%. Area is considered to be the biggest emerging market: The Indian Sub-continent (India, Pakistan, Bangladesh and Sri Lanka). Products are exported from … Europe: motor cars, mashinery, chemicals.;Asia: video/audio equipment, clothes, shoes.; Australia: iron ore(рудаmaak), dairy products, meat.;Middle East: oil, gas, chemicals.;Africa: fruits, cacao, coffee.; North America: peanuts, grain, coal.;South America: meat, poultry(linnuliha), iron ore. WTO- the World Trade Organisation is the driver to ensure trade between countries has no barriers world wide. 340 mln container are circling the globe! 500.000 ships ensure that cargo is shipped around the world. Import duties have dropped to less than 5%. 4)Which industry is still heavily subsidized and needs further liberalization
meetings three times a year as the European Council, agree direct elections to the European Parliament, resolve to set up the European Regional Development Fund and establish economic and monetary union. 1975 Launch of ERDF - The ERDF aims to strengthen economic and social cohesion in the European Union by correcting imbalances between its regions 1978 European Council establishes the European Monetary System based on a European currency unit (the ECU) and the Exchange Rate Mechanism (ERM). The Ecu has some characteristics of a real currency and is used in travellers’ cheques and bank deposits. ERM gives national currencies a central exchange rate against the Ecu. All the community’s members apart from the UK join the ERM. 1975 Launch of European Monetary System June 1979 – First election of the EP 1981 January: Greece becomes 10th member of the European Community. 1984 February: draft Treaty on the establishment of the European Union passed
When governments make laws they use a system of courts backed by the power of the police to enforce these laws. 2. Sources of law (general) Precedent – a decision about a particular legal case that makes it likely that other similar cases will be decided in the same way Solve a dispute – to find a solution to a disagreement; to adjudicate Judiciary – a country’s body of judges Government – system by which a state or community is controlled Judge – a person who is in charge of a trial in a court and makes decisions on legal matters Civil code – a collection of laws designed to deal with different areas of private law Private law – a set of rules that deal with disagreements between people or companies Common law – the legal system in England and most of the US that has developed from old customs and court decisions, rather than laws made by politicians Continental law – legal system originating in Europe in which legal codes serve as main source of law
lot of damage. Besides, about the pit bull attacks the absence of warning from a dog played a significant role, because due to the custom of docking (cutting short) pit bulls’ tails warning signals could not be easily recognized. The NGOs concerned publicized the study and then, with the help of supporters, by the way of legislative initiative proposed a law draft prohibiting breeding, sale and import of pit bulls, Rottweilers, and close mixes of both. The parliament of Member State A ordered an additional scientific study, which largely confirmed the statistics. It also noticed, “Children are normally at greatest risk from dog bite because they play with dogs more often, have less experience in reading dog behavior, are more likely to engage in activity that alarms or stimulates a dog, and are less able to defend themselves when a dog becomes aggressive”
Friendship Everyone has many acquaintances, but not all of them are friends. What is that something that makes people call someone a friend? People value different characteristics of others, but it is certain, that a true friend has to be reliable, honest and understanding. Aristotle has said that without friends no one would choose to live, though he had all other goods. I agree with him. I think everyone needs a friend. What is the benefit of money and all other goods if you have no one to share it with? A friend can be your family member, your neighbour, classmate or even your dog. It may be weird to consider an animal as a
Can the PB&R company successfully claim any violation of the EU law related rights? Examination 1. Can we say that an animal (a dog) is a good? – Yes. According to Article 13 TFEU dogs do belong to a “goods” category so as it is described in CJEU case law that a good is a product which can be valued in money and which is capable of forming the subject of commercial transactions. Therefore PB&R company and its business is selling dogs, or shall I say goods not just on a local fields, but the movement of goods is linked to abroad EU countries by making a profit of it I shall conclude that it involves a “movement of goods within the EU Member States” (Articles 26 and 37). 2. Is there a restriction of trade in goods? a. Can we name an animal, or to be more exact a dog as a “good” – yes, in accordance of Article 13 TFEU: “In formulating and implementing the
Also, comments on accents will not be welcome, as they often distinguish social classes. Business meetings and meals *Regarding dress code, men should wear a dark coloured, conservative business suit. *Similarly, women should wear a smart dress or a business suit. *Punctuality is important, it better to arrive a few minutes early. *Offering gifts is not part of Australian business etiquette, but it is acceptable to bring a small gift from your country. *Table manners are same as in Europe. *The person making the invitation generally pays the bill in restaurants. However, it is usual for friends to split the bill. *If you are invited out for a drink, don’t recall the subject of business unless your counterpart does so. *In a pub, each person is expected to pay for a round of drinks. Avoiding your turn to pay will only create a bad impression of you. Body language
before his death.The Easter story includes Maundy Thursday (the Last supper leading to the Eucharist), Good Friday (the day on which Jesus was crucified) and Easter Day (the day on which Jesus came back to life). It is a sad story because Jesus was killed. But the story has a very happy ending, because Jesus came back to life and visited his friends and followers once more. He did not die at all, but went back up to Heaven to be with God, his father. The Traditional Egg Gift The first eggs given at Easter were birds eggs. These eggs were painted in bright colours to give them further meaning as a gift As chocolate became more wide spread in the 20th Century, a chocolate version of the traditional painted egg was developed. The size of the chocolate egg has grown over the years and is now more likely to be the size of an ostrich egg rather than a small birds egg. Special Food Boiled eggs are traditionally served at breakfast, then Easter cards
other crimes.[1] Criminals can even use seemingly harmless pieces of information, such as your date of birth, to commit identity theft. [2] The different types of identity theft The Identity Theft Resource Centre sub-divides identity theft into six different categories.[3] Criminal identity theft (posing as another person when apprehended for a crime) Financial identity theft (using another's identity to obtain credit, goods and services) Identity cloning (using another's information to assume his or her identity in daily life) Medical identity theft (using another's identity to obtain medical care or drugs) Child identity theft. Synthetic identity theft(thief steals pieces of information from different people to create a new identity). How does identity theft happen
The trend was started by Raivo Roosna and Aleks Lepajõe who robbed the Tillander store in Helsinki in 1985. In December 2006, it was estimated that Estonian criminals were responsible for 140 robberies of jewellery and watch stores in Finland, the Netherlands, Portugal, Italy, Spain, France, Germany, the United Kingdom, Denmark, and Sweden during the last three years. The value of the lost property is estimated to be 25 million Euros.[1] Today transnational Estonian organised crime is predominantly about smuggling drugs, alcohol, and other illegal or high-tax goods from Russia to Finland, Sweden, and elsewhere in the Baltic Sea. Estonia is a relatively safe country, although there are some situations, where people should be more careful crime has been increased lately. We could count different type of crimes, but most common are smuggling and robberies.
Gross Domestic Product (GDP) The gross domestic product (GDP) or gross domestic income (GDI) is a measure of a country's overall economic output. It is the market value of all final goods and services made within the borders of a country in a year. It is often positively correlated with the standard of living, alternative measures to GDP for that purpose. · Gross domestic product comes under the heading of national accounts, which is a subject in macroeconomics. Gross National Product Gross national product (GNP), in economics, a quantitative measure of a nation's total economic activity, generally assessed yearly or quarterly.
structural competition or "pure competition" The main characteristics of competition: 1. Number of firms 2. Type of product 3. Control over price 4. Conditions of entry 5. Nonprice competition 6. Information flow Pure Competition · Involves very large numbers of sellers and buyers. · Firms producing identical or homogeneous products. · Standardized product (a product identical to that of other producers). (ex. corn or cucumbers). · Free Entry and Exit: no significant legal, technological, financial, or other obstacles prohibiting new firms from selling their output in any competitive market No control over the price: "Price Takers" ( the firms have no market power) . The individual firm has very little to no impact on the market. · Demand is perfectly elastic.
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