Business
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International Tourism is Back to The ’80s
The coronavirus pandemic could cause a loss of $4 trillion to the global GDP because of struggles in international tourism. It's equivalent to a year of Germany's GDP. Losses in 2020 were steeper than forecasted. 100 million jobs are directly at stake. Developing countries suffer the most.
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Nigeria Says Its Gas Reserve Doubled by Accident
Nigeria was looking for oil but found gas and, if confirmed, could double its reserve. A potential fortunate discovery as the country looks to diversify its energy export.
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Argentina Avoids Default for Now
Argentina will pay $430 million of the $2.4 billion it owes to the Paris Club. The country avoids defaulting payment, for now.
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Latin American Household Incomes Suffered the Most During the Pandemic
Household incomes increased worldwide, contrasting with what happens in the wider economy. Economically speaking, Latin American households suffered the most in 2020. But countries hit the most by the pandemic have not necessarily decreased household incomes thanks to public money.
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South Korea Used Cryptocurrency to Stop Tax Fraudsters
Police in South Korea seized $47 million from tax fraudsters who hid their assets in cryptocurrency. It used their phone numbers;
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Indonesia Plans to Tax Premium Food Items
In a fiscal optimization reform, Indonesia plans to increase the value-added tax rate and remove food or education services from the non-taxable categories.
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Moroccan King Instructed Affordable Tickets, Airline Complied
The Moroccan King asked the transportation industry to allow affordable tickets for Moroccans leaving abroad willing to come back in the country this summer.
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Unresolved Animal Welfare Issues Exposed in Norway
In 2019, the industrials promoted the guarantee of pig welfare after the publication of a video documentary. In 2021, videos show up again and contest issues have been resolved.
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Italy Accuses Booking.com of Tax Evasion
According to the Italian authorities, the online booking platform didn’t pay 153 million euros of valued-added tax between 2013 and 2019.
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