447 Results
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
Nick Jones blogged about cash. We managed to eliminate private cheques in Finland in 1983 by putting a charge (8c) on the cheque forms (picked up or mailed). At the same time there was a big drive for debit cards and this lead to a very positive negative trend for cash already then. Another positive effect was that the debit card could be used for ...
08 December 2010 /payments Innovation in Financial Services
Translating part of a Facebook note by Liisa Jaakonsaari (MEP - Finnish Social Democrat): "The crisis in Europe is not because of EU or the Euro. Rather it can be said that EU and the euro are innocent victims. Bad guys are unregulated and irresponsible financial markets. Blaming the banks is becoming a rather worn issue and does not always hi...
08 December 2010 /retail /wholesale Whatever...
The EU-commission asked the Expert Group on e-Invoicing to come up with a standard for Europe – a global one. Now it has been delivered. The global standard has now been published. Much asked for, high quality and capability – should be deployed as soon as possible. More here: https://www.finextra.com/blogs/fullblog.aspx?blogid=4693 and www.i
07 December 2010 /payments Innovation in Financial Services
In the late 80s there was a big growth boom in Finland - fuelled ao by ending tax break on profits on selling enterprises and strong credit expansion when the savings banks (inexperienced corporate lenders) were deregulated and started to aggressively push into foreign currency lending. All this new liquidity tried to find safe havens - stock pric...
07 December 2010 /retail /wholesale Whatever...
http://ec.europa.eu/enterprise/sectors/ict/files/com712_en.pdf most here: http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:52010DC0712:EN:NOT Loud and clear. It all starts with migration away from printing on paper or sending PDFs. Then it is easy to automate accounting, VATprocesses (and collect the missing part) etc. Enjoy the read
02 December 2010 /payments Innovation in Financial Services
If we want avoid a clear fall in living standards and financing capability of welfare services in EU - we need better productivity and just collection of lower taxes. The split payment VAT is an ideal model for both purposes. From EU document: "28. The benefits of the model are great, as the tax authority can be sure that it will receive
From EU Green Paper on VAT: "The current collection model brings with it a VAT Gap due to e.g. VAT fraud, insolvencies, mistakes by the taxable persons in the VAT return and VAT avoidance schemes. Desk research shows that the VAT Gap for 2009 can be cautiously estimated at 6,9% of GDP and 12% of total VAT liability in the EU-27. This means ...
I just got a message from Finextra stating that the 1/4 million milestone has been passed (in two years). I am very grateful to all who have taken the trouble to view posts and to Finextra for bringing us together. My mission is to further development in the networked economy - contribute to new concepts, standards, collaboration, competition, tran...
18 November 2010 /payments Innovation in Financial Services
A new study by Maija Tenhunen and Esko Penttinen about the carbon footprint of invoicing reveals that the paper based process generates as much as 450g on average and electronic invoice can go as low as 150g. 300 sustainability reasons to go digital every time an invoice is sent – translated to EU today this equals over 8 million tons. So it is ...
15 November 2010 /payments Innovation in Financial Services
The Trade Standard Evaluation Group approved the ISO 20022 (UNIFI) standard for electronic invoices on the 29th of October 2010. The opening address by Jorgen Holmquist (Director General at the EU-commission) to the first meeting of the EC Expert Group on e-Invoicing in February 2008 clearly stated the need for a standard for Europe – but a global ...
14 November 2010 /payments Innovation in Financial Services
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