Public officials recovered 35 hours time on Friday – RTP

 The new law will replace the 35 hours of weekly work in the public service provides, however, some situations exception requiring the replacement of the time during the second half of the year.
 

 The text provides for the negotiation with the civil service of exception situations that will keep for some time the 40 hours of labor unions for some employees in order to “ensure the continuity and quality of services.”
 

 Exceptions result of a transitional rule that allows the replacement of the weekly schedule of 35 hours during the second half of this year in services where there is the need for the hiring of staff, particularly in health.
 

 Working hours in the Public Service increased from 35 hours to 40 hours in September 2013, without a corresponding increase in wages, which has raised the defense of workers and their unions.
 

 The reset time of 35 hours corresponds to one of the promises of the current government, and the Finance Minister has reiterated that the measure can not entail increased costs for the state.
 

 According to the unions representing public servants, increased working hours represented a drop of 14% in the value of wages.
 

  The Portuguese civil servants are those who, in the European Union (EU), work more hours per week, but with the 35-hour time reset become of those working less time.
 

 Currently, to meet 40 hours per week, Portugal is aware of Slovenia, Estonia, Hungary, Latvia, Poland, Czech Republic and Romania, but from Friday the Portuguese civil servants are below the EU average to 27 [ before the accession of Croatia to July 1, 2013], which is 38.45 hours per week.
 

 In Portugal, the weekly working hours of 35 hours has been formally adopted by many municipalities, after the first government of Passos Coelho (PSD / CDS-PP) have been forced by the Constitutional Court to publish the collective agreements of public employer ( ACEEP) had decided to retain, to avoid resetting the time.
 

Bank of Portugal says it received four purchase proposals – LUSA

“The Bank of Portugal received four takeover bids, whose analysis now begins against the eligibility and selection criteria set out in the specifications, released last April,” reads the press release regulator and banking supervisor

those interested in acquiring the New Bank -. the bridge bank which holds the assets and liabilities considered unproblematic BES – had until today to submit proposals.

IM // ATR

Lusa / End

Four offers for the New Bank. Santander and BCP out of the race – Observer

The Bank of Portugal received four takeover bids for the New Bank that will be considered “in the light of the eligibility and selection criteria set out in the specifications.” In a statement, the supervisor explained that in light of this analysis, “will be making a decision on which of the routes – Strategic Sale Procedure or Market Sale procedure – will be followed to complete the process of sale of the stake held by the Resolution Fund in the New Bank “.

the Bank of Portugal does not disclose competitors for confidentiality reasons, but according to the Express, two of the major banks operating in the Portuguese market have been out of the race to the New Bank. Santander and BCP did not submit offers for the purchase of a part or all of the institution resulting from the Banco Espírito Santo, advances the newspaper. It was not possible to confirm whether the BPI or its largest shareholder, the CaixaBank, delivered proposal. It is also unclear if the offers are for the entire bank or only for some assets.

The deadline for submission of binding offers ended on Thursday at five o’clock and the president of BCP, Nuno beloved, “was not ideal” I had already signaled this week that the date, especially after the outcome of the referendum in the UK and its side effects on the markets returning to reach the bank. Also according to the Express, BCP will have written a letter to express openness to re-look at the process in certain situations.

Contacted by the Observer, Santander and BCP not comment on the information. The tender for the sale of the New Bank requires tight rules of confidentiality to competitors and in the past the Bank of Portugal was limited to disclose the number of offers without identifying who introduced them. However, the information always ends up leaving.

Among the groups identified as stakeholders were also BPI or its largest shareholder, the CaixaBank, and investment funds, including the American Apollo. The first attempt to sell the New Bank held just over a year, Santander, BPI and Apollo had offers, but only investment fund that owns Tranquility reached the final stages of negotiation with the Chinese Fosun and Anbang .

the competition was eventually canceled when the Bank of Portugal, even with the previous government, concluded that the financial offers were not satisfactory. One of the factors contributing to explain a cooling in the interest of Chinese investors in the deal was the crisis that hit the Chinese markets more acutely in the summer of last year. Now the storm comes from the west.

If you miss the sale process to strategic investors, scenario B for the sale of New Bank is the dispersion in the stock part of the capital, but this solution will have been weakened , even more, by instability and uncertainty resulting from Brexit. Entry into the capital of the institution market was already however in doubt before the outcome of the British referendum because the information presented on the bank and its future strategy were not considered sufficient by the governor of the national stock exchange.

Sales New Bank has been challenged on the left and the institution’s maintenance scenario in the state sphere has been defended by some personalities who fear the phenomenon of Hispanization banking. The government of António Costa has given priority to selling solution that was negotiated with the European Commission, a plan which provides that the operation takes place until August 2017. The statement issued Thursday by the regulated r does not admit scenario of no sale , in contrast to the position taken last year when the admitted Banco de Portugal expressly that scenario.

Formally the seller of the New Bank is the resolution fund that is shareholder, but in practice the process is conducted by the Bank of Portugal that after recognizing some limitations in the first attempt last year, strengthened the selling team with the hiring of Deustsche Bank as financial advisor and Sérgio Monteiro, the former Secretary of State of Public Works who starred in major privatization processes conducted by the PSD-CDS coalition.

Tax Offices are now open at lunchtime – TVI24

The offices of Finance will now be open during the lunch hour, starting this Friday, July 1. With this, and to compensate, pass close an hour earlier.

“call to schedule the public of the Tax and Customs Authority services will be redrafted, with practical effect as from July 1 “announces the Ministry of Finance said in a statement.

What then is the new time?

All financial services now have the doors open to the public, “without interruption”, between 9:00 and 15:30.

replacement of the 35-hour also from now, and the Government’s commitment not increase spending , the solution was close, thus closing an hour earlier.

so far, according to official website of the Tax Authority and customs, the hours of service of the public finance services stemmed between 09:00 and 16:30, although the vast majority of offices closed doors between 12:30 and 14:00 for lunch.

This happened only on 22 services, but now all (a total of 342) will fail to close the middle of the day.

and the Citizen Shops?

in 54 customs offices and customs posts scattered throughout the country, the same thing. There is no place interruption in service during the lunch period and time happens to be between 09:00 and 17:00.

As for Citizen Shops , everything remains as before. “Financial services will continue to work at the usual time,” the guardianship. By the end of the year and second promise of the Government, open 11 new spaces these.

The Ministry argues that the new times “are a clear added value in the service provided to citizens, promoting greater availability of services and facilitating compliance with tax and customs duties.”

In addition to the presence service, you can also get various information, including documents, the Portal of Finance .

Ridges: Government puts Portugal “on the radar” for comments as the Schäuble – TVI24

The President of the CDS-PP, Asuncion Ridges, manifested this Thursday concerned about the forecasts of the IMF and argued that attitude of the government puts Portugal “on the radar” for feedback object “less happy” as the German Finance Minister .

“what I like is that Portugal really do not put the radar and do not put in the situation to be the subject of perhaps comments less happy “ , told Lusa Asuncion ridges after a lunch-conference on Brexit at the headquarters of CDS in Lisbon.

the centrist leader criticized that there is a “public conversation taken too lightly” with contradictory statements by the Prime Minister and the Minister of Finance, while there are numbers that are “goals, are real and worrying too much about the performance of our economy. “

” Obviously this lends itself to comments more or less unhappy “ , he said.

ridges also said to have read with concern the evaluation of the International Monetary Fund (IMF) announced on Thursday.

“I do not know if the IMF is correct, we saw the IMF at other times also make projections that are not found. I always look very carefully, but also with great concern. The IMF which tells us today is that we will not grow 1.4% – remember that the government expects 1.8% -., Which were what had predicted, but grow 1% and the deficit will be 3%, ” maintained.

While considering that the Finance Minister Mario Centeno failed to “clarify how will make revisions,” the leader of the CDS appears that “inevitably something will have to be adjusted.”

“I recall that Portugal and Spain received letter from the European Commission to say what they will do if you need to adjust anything from the budgetary point of view. Spain will have answered the government will not respond, or at least not substantially, just was saying that everything is fine and will not need anything else and this week the prime minister said he will not need anything else, “he said .

“once again I feel the prime minister speak very lightly of topics, touching on issues as if they have relevance, both it is in relation to economic growth and in relation to the financial system when it launched the idea that we need a vehicle of EUR 20 billion and then not again explain anything or touch it “ reinforced.

according to Bloomberg, Wolfgang Schauble said on Wednesday at a conference in Berlin that Portugal is asking “a new program” <. / strong> and “go get it” then the German ruler corrected reporters his statements: “the Portuguese do not want and will not need [a second bailout] if they comply with the European rules,” he stated <. / p>

“They have to comply with European rules or you will have trouble,” said the German Finance Minister.

the IMF has revised this Thursday in high forecast Portugal’s deficit this year, from 2.9% to 3.0%, up from 2.2% projected by the government and draw attention to “downside risks”.

“Having in view of these risks, are likely to be more precise measures to support the spending restraint to ensure that the budgetary target this year of 2.2% of GDP [gross domestic product] is reached. In the absence of additional steps, the IMF projects a deficit close to 3% of GDP “, reads the statement of completion of the fourth post-program mission and work under Article IV, published today.

the IMF welcomes the budget commitment of the Government for this year, which remains a deficit reduction to 2.2%, but warns of risks to revenue raising “in a context of weak growth” considering that “may arise pressures in spending in the second half of the year. “

New bank with 4 offers. BCP and Santander off – Observer

The Bank of Portugal received four takeover bids for the New Bank that will be considered “in the light of the eligibility and selection criteria set out in the specifications.” In a statement, the supervisor explained that in light of this analysis, “will be making a decision on which of the routes – Strategic Sale Procedure or Market Sale procedure – will be followed to complete the process of sale of the stake held by the Resolution Fund in the New Bank “.

the Bank of Portugal does not disclose competitors for confidentiality reasons, but according to the Express, two of the major banks operating in the Portuguese market have been out of the race to the New Bank. Santander and BCP did not submit offers for the purchase of a part or all of the institution resulting from the Banco Espírito Santo, advances the paper.

The deadline for submission of binding offers ended on Thursday at five in the afternoon and the president of BCP, Nuno Amado, was “not ideal” had already signaled this week that the date, especially after the outcome of the referendum in the UK and its side effects on the markets returning to reach the bank. Also according to the Express, BCP will have written a letter to express openness to re-look at the process in certain situations.

Contacted by the Observer, Santander and BCP not comment on the information. The tender for the sale of the New Bank requires tight rules of confidentiality to competitors and in the past the Bank of Portugal was limited to disclose the number of offers without identifying who introduced them. However, the information always ends up leaving.

Among the groups identified as stakeholders were also BPI or its largest shareholder, the CaixaBank, and investment funds, including the American Apollo. The first attempt to sell the New Bank held just over a year, Santander, BPI and Apollo had offers, but only investment fund that owns Tranquility reached the final stages of negotiation with the Chinese Fosun and Anbang .

the competition was eventually canceled when the Bank of Portugal, even with the previous government, concluded that the financial offers were not satisfactory. One of the factors contributing to explain a cooling in the interest of Chinese investors in the deal was the crisis that hit the Chinese markets more acutely in the summer of last year. Now the storm comes from the west.

If you miss the sale process to strategic investors, scenario B for the sale of New Bank is the dispersion in the stock part of the capital, but this solution will have been weakened , even more, by instability and uncertainty resulting from Brexit. Entry into the capital of the institution market was already however in doubt before the outcome of the British referendum because the information presented on the bank and its future strategy were not considered sufficient by the governor of the national stock exchange.

Sales New Bank has been challenged on the left and the institution’s maintenance scenario in the state sphere has been defended by some personalities who fear the phenomenon of Hispanization banking. The government of António Costa has given priority to selling solution that was negotiated with the European Commission, a plan which provides that the operation takes place until August 2017. The statement issued Thursday by the regulated r does not admit scenario of no sale , in contrast to the position taken last year when the admitted Banco de Portugal expressly that scenario.

Formally the seller of the New Bank is the resolution fund that is shareholder, but in practice the process is conducted by the Bank of Portugal that after recognizing some limitations in the first attempt last year, strengthened the selling team with the hiring of Deustsche Bank as financial advisor and Sérgio Monteiro, the former Secretary of State of Public Works who starred in major privatization processes conducted by the PSD-CDS coalition.

More deficit and less growth. IMF warns government and calls for additional measures – Daily News – Lisbon

Institution also lowers growth of the Portuguese economy and admits that probably will need more measures

The IMF revised today’s high forecast for Portugal’s deficit this year from 2.9% to 3.0%, up from 2.2% projected by the government and draw attention to “downside risks”.

“Given these risks are likely to be more precise measures to support the spending restraint to ensure that the budgetary target this year of 2.2% of GDP [gross domestic product] is reached. in the absence of additional steps, the IMF projects a deficit close to 3% of GDP “, reads the statement of completion of the fourth post-program mission and work under Article IV, published today.

the International Monetary Fund (IMF ) welcomes the budget commitment of the Government for this year, which remains a deficit reduction to 2.2%, but warns of risks to revenue raising “in a context of weak growth” considering that “may arise pressures on spending in the second half of the year. “

the team Subir Lall, who heads the Fund’s mission in Portugal, believes that” a credible path of fiscal consolidation in the medium term to put public debt on a trajectory is necessary steady drop, “which” will require realistic goals that are supported by concrete measures “

Stressing that the government of António Costa outlined.” ambitious goals “for the medium term in the stability program for 2016 – – 2020, the IMF said however that “lack specificity” to these measures, “which would permit an assessment of its feasibility” and made a recommendation

a primary structural adjustment [discounting the effect of the cycle. , temporary measures and the burden of public debt] 0.5% of GDP both in 2017 and in 2018 would be a realistic budget appropriately way, “reads the statement.

This target primary structural adjustment must be supported by “permanent savings measures, focusing on rationalization of public wages and pensions”.

“it is unfortunate, therefore, that the total reversal of wage cuts in the public sector not It has been accompanied by a more fundamental reform of the public sector. A review of the expenditure covering all areas of public administration would help identify priority areas to generate public savings, “said the technical mission.

According to the IMF, also” are accurate efforts to deepen the implementation of new Budgetary Framework law, which aims to improve budget management and transparency “.

Another aspect pointed out by the institution led by Christine Lagarde is related to the need for” a more stable and predictable tax system ” that could “help promote confidence and encourage private investment.”

economic growth revised downwards

the IMF is more pessimistic about the Portuguese economy and expects GDP to grow 1.0% this year, lower than anticipated in April and still anticipates the government.

in the same statement, the institution has lowered forecasts economic growth to 1.0%, down 0.4 percentage points to the 1.4% forecast in April on ‘World economic Outlook’.

the institution led by Christine Lagarde justifies this downward revision to the slowdown in the Portuguese economy observed since the middle of last year and increased uncertainty externally.

“Although private consumption will continue to grow robustly, investment and exports weakened, reflecting an increase in uncertainty and a sharp downturn in some markets for Portuguese products. As a result, the GDP [Gross Domestic Product] in real terms fell to 0.9% in the first quarter of 2016 (year on year) and projected to grow 1.0% for the whole year, “said the IMF team.

the Fund staff also revised downwards the forecasts in the medium term and expects the Portuguese economy to grow 1.1% in 2017, when in April estimated that GDP grew 1.3% this year, admitting the picture has changed in the last two months.

“we expect the growth gradually accelerate to close to 1.2%, since the structural rigidity and the debt of the private sector are taking longer to resolve than previously assumed, “he said.

in addition, the IMF admits that” downside risks to the forecast increased due to the decrease in household savings, the timid investor confidence and increased external uncertainty including the outcome of the UK referendum. “

unemployment rate to rise

in a statement released today, the Fund has also revised slightly upwards to unemployment rate this year and next, from 11.6% to 11.8% and from 11.1% to 11.3%, respectively.

also in that sense, the institution based in Washington defends to advance structural reforms “is essential to encourage the convergence of wages and job creation, especially given the growing demographic challenges.”

Whereas Portugal has achieved “significant progress” during the adjustment program , “improving the flexibility and competitiveness of the labor market,” the IMF team argues that “it is important that these developments are taken forward.”

“a change in the direction of the reforms can increase uncertainty that already is harming investment and reduce the prospects for growth, employment and income, “he said.

in this sense, the technicians consider that the reversal of the policies of the previous government may have” adverse effects on competitiveness Portuguese companies. “

in the 2016-2020 stability program submitted to Brussels in late April, the government maintained its estimate of economic growth for this year, 1.8%.

in an interview with Public, released on Wednesday, the finance minister, Mário Centeno, admitted a revision of the forecasts for 2016 in October, when presenting the Budget for 2017 and found that the ‘Brexit’ (UK output the European Union) is a change that has to be considered as “structural in the surrounding of the Portuguese economy” the impact on the European Union and the “strong and direct links” that Portugal has with the country.

on the instead, the head of mission of the International Monetary Fund (IMF) in Portugal, Subir Lall said, also on Wednesday, that the macroeconomic impact of ‘Brexit’ in Portugal is very low, even though the British demand for goods and services slow down.

agricultural tires create 125 jobs in Famalicão – TSF Online

Agreement of state incentives, worth 12.7 million euros, will be signed on Thursday with Continental Mabor.

the government today signed a contract to expand the plant of Continental Mabor in Famalicão and create more than 125 jobs. The project had already been approved by the Executive on 16 June. Now the subscription is materialized with the German company, the fourth largest exporter in Portugal.

The investment will be 50 million euros, of which 12.7 million will thus be paid by European funds, as elsewhere, more difficult to quantify, will have tax incentives.

in the TSF, Manuel Caldeira Cabral, Minister of Economy, said the aim is to export tires for agriculture.

The minister speaks in a reliable sign of a German company in the Portuguese economy.

The tire Famalicão factory of Continental Mabor already employs 1,750 people today. The idea with this expansion for agricultural tires, is exported to Europe and America.

Another goal of the company is to create a research center aimed specifically at the development of agricultural tires.

Costa and Centeno with different views on the 2016 economy – publico

 
         

                 

                         
                     

                         

                 

 
 

Minister of Finance and Prime Minister did not hit the discourse about what to expect the government to the economy this year after the decision of the UK to leave the European Union. Mario Centeno, in an interview with Publico, admits the possibility of having to review the accounts this year in October because of the international scene, as Mr Costa says the numbers for this year “are released.”

the prime minister admitted on Wednesday that the international situation may lead to a review of future forecasts of the economy. In a press conference after the Brussels summit on “Brexit”, António Costa has always spoken in the future. “The international scenario, as the Minister of Finance has said, could lead to that in October, when presenting the budget for 2017 may be necessary to make an update on future developments of the Portuguese economy.”

That is, forward and not about the numbers this year: the “data [2016] are introduced and, fortunately, give certain accounts,” said

<. p> However, the finance minister said was not quite what Costa said a day after the conversation with journalists. in an interview with Publico, Mário Centeno said the effect of “Brexit” for the Portuguese economy and said this impact could lead to a review of the 2016 economy growth accounts.

in addition to the impact of “Brexit” possible sanctions to Portugal for failure to fulfill the deficit below 3 % by 2015 can also come to influence the public accounts. But on this subject, António Costa said to be prepared. “This Government is prepared for the worst predictions, because every week there is a forecast of a disgrace the following week. We’ve been six months and these woes or not confirmed or have occurred, due outdated, “he said quoted by Lusa.

Costa begins to prepare the political discourse in the event of having to face the imposition of sanctions by the European Commission. And especially after the weekend have seen the bE ask for a referendum on the mechanism by which sanctions are applied, ie, the Budget Treaty. the prime minister insists on the idea that majority supporting the Government is good and recommended: “so, I would even say that this is a government that was born to face and solve woes. That’s what we are doing and we will continue to do. “

The PSD vice-president Maria Luís Albuquerque considered” unfortunate “the” mismatch “between the Prime Minister and the Minister of Finance, noting that “is not the first time” that this mismatch occurs. Speaking to journalists in Parliament, Finance Minister accused the former Mário Centeno to have a “desculpabilizante strategy” to admit a lower growth of the Portuguese economy this year. “The political calendar this year was known for a long time. It was known that some of these risks could materialize and when faced with these questions, the Minister of Finance systematically repeated that had margins [budget], “he said.

Maria Luís Albuquerque called for “responsibility of the Government” to “correct what needs to be corrected,” so that “there are no consequences for the Portuguese.” With S. R./Lusa

                     
 
 
                 

             

Public officials recovered 35 hours time on Friday – RTP

 The new law will replace the 35 hours of weekly work in the public service provides, however, some situations exception requiring the replacement of the time during the second half of the year.
 

 The text provides for the negotiation with the civil service of exception situations that will keep for some time the 40 hours of labor unions for some employees in order to “ensure the continuity and quality of services.”
 

 Exceptions result of a transitional rule that allows the replacement of the weekly schedule of 35 hours during the second half of this year in services where there is the need for the hiring of staff, particularly in health.
 

 Working hours in the Public Service increased from 35 hours to 40 hours in September 2013, without a corresponding increase in wages, which has raised the defense of workers and their unions.
 

 The reset time of 35 hours corresponds to one of the promises of the current government, and the Finance Minister has reiterated that the measure can not entail increased costs for the state.
 

 According to the unions representing public servants, increased working hours represented a drop of 14% in the value of wages.
 

  The Portuguese civil servants are those who, in the European Union (EU), work more hours per week, but with the 35-hour time reset become of those working less time.
 

 Currently, to meet 40 hours per week, Portugal is aware of Slovenia, Estonia, Hungary, Latvia, Poland, Czech Republic and Romania, but from Friday the Portuguese civil servants are below the EU average to 27 [ before the accession of Croatia to July 1, 2013], which is 38.45 hours per week.
 

 In Portugal, the weekly working hours of 35 hours has been formally adopted by many municipalities, after the first government of Passos Coelho (PSD / CDS-PP) have been forced by the Constitutional Court to publish the collective agreements of public employer ( ACEEP) had decided to retain, to avoid resetting the time.
 

Costa and Centeno with different views on the 2016 economy – publico

 
         

                 

                         
                     

                         

                 

 
 

Minister of Finance and Prime Minister did not hit the discourse about what to expect the government to the economy this year after the decision of the UK to leave the European Union. Mario Centeno, in an interview with Publico, admits the possibility of having to review the accounts this year in October because of the international scene, as Mr Costa says the numbers for this year “are released.”

the prime minister admitted on Wednesday that the international situation may lead to a review of future forecasts of the economy. In a press conference after the Brussels summit on “Brexit”, António Costa has always spoken in the future. “The international scenario, as the Minister of Finance has said, could lead to that in October, when presenting the budget for 2017 may be necessary to make an update on future developments of the Portuguese economy.”

That is, forward and not about the numbers this year: the “data [2016] are introduced and, fortunately, give certain accounts,” said

<. p> However, the finance minister said was not quite what Costa said a day after the conversation with journalists. in an interview with Publico, Mário Centeno said the effect of “Brexit” for the Portuguese economy and said this impact could lead to a review of the 2016 economy growth accounts.

in addition to the impact of “Brexit” possible sanctions to Portugal for failure to fulfill the deficit below 3 % by 2015 can also come to influence the public accounts. But on this subject, António Costa said to be prepared. “This Government is prepared for the worst predictions, because every week there is a forecast of a disgrace the following week. We’ve been six months and these woes or not confirmed or have occurred, due outdated, “he said quoted by Lusa.

Costa begins to prepare the political discourse in the event of having to face the imposition of sanctions by the European Commission. And especially after the weekend have seen the bE ask for a referendum on the mechanism by which sanctions are applied, ie, the Budget Treaty. the prime minister insists on the idea that majority supporting the Government is good and recommended: “so, I would even say that this is a government that was born to face and solve woes. That’s what we are doing and we will continue to do. “

The PSD vice-president Maria Luís Albuquerque considered” unfortunate “the” mismatch “between the Prime Minister and the Minister of Finance, noting that “is not the first time” that this mismatch occurs. Speaking to journalists in Parliament, Finance Minister accused the former Mário Centeno to have a “desculpabilizante strategy” to admit a lower growth of the Portuguese economy this year. “The political calendar this year was known for a long time. It was known that some of these risks could materialize and when faced with these questions, the Minister of Finance systematically repeated that had margins [budget], “he said.

Maria Luís Albuquerque called for “responsibility of the Government” to “correct what needs to be corrected,” so that “there are no consequences for the Portuguese.” With S. R./Lusa

                     
 
 
                 

             

Fisco dismantles fraud network to VAT on the sale of mobile phones – publico

 
         

                 

                         
                     

                 

 
 

The Tax and Customs Authority (TA) announced on Wednesday it had dismantled a network of tax fraud in the marketing of mobile phones, in business since January 2015, which have caused losses to the state of more than ten million euros. It is more a carousel fraud scheme in which the relationship between several companies from various countries, allows the non-payment of VAT or its improper refund.

This action, developed in conjunction with the anti-fraud units and Fiscal Action Unit GNR (UAF) and led to the arrest of the ringleader of the network claimed, was the result of an investigation the companies linked to the sale of mobile sector, targeting 14 homes and 20 businesses and office certified accountants.

in a statement, the Tax Authority and Customs clarifies that “were recorded so far 42 defendants, of whom 20 are individuals and 22 companies. four high-powered vehicles were seized, 1,000 mobile phones that served the purpose of fraud, a lot of documentation, computers and money, “he adds.

At issue are crimes of conspiracy, fraud and qualified fraud possible money laundering. The “Smart Price” operation involved 69 tax inspectors AT and 64 military Fiscal Action Unit GNR.

According to the Tax Authority, the carousel fraud scheme is the use of mechanics of VAT on operations between companies of different Member States of the European Union, allowing obtain illegitimate economic benefits through the deduction of VAT or request for tax refund that was not delivered to the state. In this network of fraud in research, this figure amounts to about ten million.

The main suspect of being the ringleader of this VAT fraud scheme was arrested on Tuesday and will be present to judge instruction for questioning and application of coercive measures.

the Tax Authority says that since 2015 has taken a “proactive stance”, following the adoption by Spain of reverse charge ( reversal of the taxpayer) of the transactions of electronic equipment from VAT taxable persons, taking into account the probability of a possible relocation to Portugal of fraud involving such products.

in this sense, aT proceeded to Shipping in December 2015, email to national operators in order to alert them to the duty to pay special attention when choosing their suppliers, in particular as regards the existence of a corporate structure by the same and prices by them in order to outwit involvement situations in fraud schemes.

the European Commission estimates that 168 billion VAT revenue loss of EUR in the EU in 2013 were due to the use of fraudulent schemes.

                     
 
 
                 

             

What to do when someone calls you a copy of your citizen card? – Jornal de Negócios – Portugal

The law is very clear: it is “forbidden the reproduction of the citizen card a photocopy or any other means without the consent of the proprietor except in cases specified by law.” The “consent” is a keyword here. It must be an informed consent. But how free is the consent of someone who will purchase a phone and call you a copy of the citizen card? Or make a contract of service, or enroll the child in school? Refuse to photocopy can be the equivalent of buying a tug-of-iron delay all, is the purchase of the phone, the registration of the child at school or anything else.

However, something to match may seem harmless – give someone a copy of the identification document – means in practice, “walking to distribute four identification numbers everywhere,” says Clara Guerra, the National Data Protection Commission (CNDP), noting that the citizen card has not only its own number, but also the taxpayer, Social Security and the SNS user. The CNDP has been drawing attention to the dangers of identity theft that may result from this type of facilities and although not advise expressly that people refuse the delivery of the copy when it is required, warns that you must be careful and there several possible reactions.

the first thing to do is remember who is demanding a copy of that requirement is illegal, according to law of the citizen card. If the other side’s insistence to continue, then it must be asked that the law requires the delivery of the copy is identified. Absence – that is what will happen in most situations. – Then the way is open to the book of complaints is required and submitted a complaint

A copy of the complaint which is registered in the book should subsequently be sent to the Institute of Registries and Notaries (IRN), clarifies the minister’s office of the Presidency and Administrative Modernisation, Maria Manuel Leitão Marques.

PSD disputes unconstitutionality in external audits to CGD and Banif – RTP

 The opinion of Pedro Delgado Alves, which resulted from a request to the President of the Assembly, Eduardo Ferro Rodrigues, will be discussed and voted in the early afternoon in the Constitutional Affairs Committee.
 

 Pedro Delgado Alves concluded that the PSD and CDS-PP project for conducting an external audit of the Banif and CGD does not meet “the procedural and constitutional requirements, the formal and substantial plans for [its] admissibility”.
 

 The vice president of the Socialist benches defended even if it is a breach of the principle of separation of powers, while accepting that an external audit can be done in the context of a decision taken in parliamentary inquiry – here, a door that leaves open to the PSD and CDS-PP initiative.
 

 At the end of the conference leaders, the president of the PSD Parliamentary Group, Luis Montenegro, disagreed with the arguments contained in the opinion.
 

 “The PSD believes even that argument has many weaknesses, whether legal or political. The question here, rather than legal, it is political”, said the Social Democrat parliamentary leader.
 

 For Luis Montenegro, the exercise of enforcement capacity by the Assembly of the Republic “also includes the promotion of these audits.”
 

 “It must be said that audits are not investigations, but rather studies or analyzes that can be made only on the basis of documentation. Now the Parliament is exempt of surveillance capacity in the face of acts of the administration and government is a thesis menoriza starkly that supervisory capacity of the National Assembly, “he said.
 

 Luis Montenegro after the parliamentary left accused of trying to prevent the external audits of financial institutions, “walking to find pretexts and evasions”
 

 “In the beginning of the year, the same terms as of now, the PSD has proposed an external audit of the Banif, which has been scheduled, discussed and then voted on and rejected,” he added the president of the PSD Parliamentary Group.
 

Toyota Portugal collects 950 cars – Jornal de Negócios – Portugal

Toyota Caetano Portugal today announced the call for review of 950 vehicles in Portugal, Prius models, Prius Plug-in third generation and Lexus, due to a problem detected in ‘airbags’ curtain.

According to the car manufacturer Japanese Toyota Motor, will be called to review 1.43 million vehicles worldwide due to problems detected in the new ‘airbags’ produced by the company Japanese Takata.

in the Lusa agency, public relations brand in Portugal, Victor Marques, said that the country will be called to review 950 vehicles (713 Toyota Prius five Toyota Prius Plug-in, and 232 Lexus CT200h.

According to the same official, the models involved are the Toyota Prius and Prius Plug-in (3rd generation) produced between October 2008 and April 2012 and the Lexus CT200h produced between August 2010 and April 2012.

Victor Marques explained that the potential problem is that the car in question “are equipped with ‘airbag’ curtain located on the left side and right roof. Each ‘airbag’ curtain contains two chambers with a welded component. Some may have a small crack in this component in the welded area which may affect the correct functioning of the ‘airbag’ curtain ‘.

According to the same official, the problem is estimated that the repair lasts between two to four hours per vehicle.

most of the affected cars were sold in Japan (743,000), North America (495,000) and Europe (141,000), confirmed a company spokesman told Efe.

the global automotive leader found small cracks in the inflator of the welds of ‘airbags’ side of the front seats, which could cause the separation of the device parts.

This could take the inflator (the metal encapsulated which houses the ‘airbag’) out projected if activated the ‘airbag’, thus representing a risk to the safety of the occupants of the vehicle, while Toyota does not have, so far, knowledge of any such incident, the source said.

the manufacturing flaw is different from other previously detected in the ‘airbag’ of Takata, which forced more than 100 million cars of different brands in the world to return to the workshops.

Toyota called revision 1.4 million cars for defects in the ‘airbag’ – Daily News – Lisbon

defective devices have been linked to the deaths of at least 11 people. The brand had another failure in ‘airbags’ last

The Japanese car manufacturer Toyota Motor announced Wednesday the call to review of 1.43 million vehicles worldwide affected by new problems detected in ‘airbags’ produced by the company Japanese Takata. In Portugal, Toyota Caetano announced the call to review the 950 car, model Prius, Prius Plug-in third generation and Lexus.

The models will return to the workshops are the Prius hybrid, Prius PHV and Lexus CT200h manufactured between 2008 and 2012.

most of the cars affected were sold in Japan (743,000), North America (495,000) and Europe (141,000), confirmed a spokesman for the agency Efe .

the global automotive leader detected small cracks in the inflator of the welds of ‘airbags’ side of the front seats, which could cause the separation of the device parts.

defective devices They were related to the deaths of at least 11 people in the United States and Malaysia.

This could take the inflator (the metal encapsulated which houses the ‘airbag’) out projected if activated ‘airbag’, thus representing a risk to the safety of the occupants of the vehicle, while Toyota does not have, so far, aware of any such incident, the source said.

the failure manufacture is different from other detected previously in the ‘airbag’ of Takata, which forced over 100 million cars of different brands worldwide to return to workshops.

defects in the manufacture of inflators make the safety device can be opened with excessive force and design fragments against the occupiers.

Government already admits that economic growth will be lower this year – publico

 
         

                 

                         
                     

                         

                 

 
 

In a week in which the outcome of the referendum in the UK has shaken Europe, Mário Centeno received the PUBLIC in the Palace Square where he explained the public accounts and admitted a revision of the forecasts for 2016 in October, when presenting the Budget for 2017. it showed openness to change the proposal of the civil servants retraining scheme and says that a decision on a possible Brussels penalty to Portugal and Spain must be political. About the bank recognizes that the current market turmoil with “Brexit” can complicate the sale of New Bank in exchange.

There is an unavoidable topic this week is “Brexit”. What will mean for our economy? The Government has made some preliminary study on the impacts?
“Brexit” is a change that can be considered as structural in the surrounding of the Portuguese economy, its impact on the European Union (EU) and the direct links and strong that Portugal has with the United Kingdom. The UK is our fourth largest customer in the export of goods, is among the first and second in exports of services, so the obvious answer is that we are aware of it. We have seen, both internally and through all the studies that have been done on the impact of “Brexit” on the Portuguese economy, and the impact is obvious. In what materializes in the short term, this impact? First, what we are observing is any disturbance to the markets or stock markets or in debt. None of this is specific to the Portuguese economy. The impact on the debt is in retreat in some way from the initial impact and think that, in the context of the European Central Bank intervention (ECB), this impact can be contained. In economic terms, it’s a challenge for Portuguese companies and joins other shocks that the economy has suffered, unfortunately, in the external environment, as with Angola, Brazil and, somehow, with the relationship with the China. The truth is that it is with great concern that we observe these developments, but we are also aware that this type of processes leads to adjustments in the economy. I think that Portuguese companies will respond positively to this challenge, but it’s still something we have to deal with.

Do you think there will be impact to the investment level in Portugal, and even domestic demand?
direct and immediate impacts are the short term and these adjustable variables, as market reactions are instantaneous. Then there is certainly an increase in uncertainty, and this is not a good environment for investment. When everything is set, you need to understand what are, for example, the customs tables that will work with the UK, how trade is going to unfold. This is likely to prevent investment British companies in Europe, and vice versa, because from the moment that creates a barrier that must be overcome in some way. There are a multitude of mechanisms that will be unleashed from there, which makes it difficult to identify how far we get.

Do not you think the “Brexit” and its impacts They will oblige the Government to review its economic scenarios?
scenarios for this year and its revision have more to do with the fact that the Government has published scenarios for the economy with a variable that has a lot to do with the “Brexit” and probably It will be new magazine, which is external demand. And there has been a succession of revisions this time, compared to our initial projections, already have a significant dimension.

The Government has reviewed these projections?
If I had to do [projections] every week, every week had to revise. What is the important dimension for the Government? There’s two. The first is that, despite the downward revisions, the projections are for the Portuguese economy continue to point to an acceleration of the economy throughout the year. This is the first important dimension to the State Budget (OE) in terms of revenue. That is, all projections, even the lowest, point to an acceleration of activity. This is the first idea that we need to fix. The second is the composition of economic activity …

                     
 
 
                 

                     
             

Public officials recovered 35 hours time on Friday – Digital Journal

The new law will replace the 35 hours of weekly work in the public service provides, however, some situations exception requiring the replacement of the time during the second half of the year.

The text provides for the negotiation with the civil service of exception situations that will keep for some time the 40 hours of labor unions for some employees in order to “ensure the continuity and quality of services.”

exceptions result of a transitional rule that allows the replacement of the weekly schedule of 35 hours during the second half of this year in services where there is the need for the hiring of staff, particularly in health.

working hours in the Public Service increased from 35 hours to 40 hours in September 2013, without a corresponding increase in wages, which has raised the defense of workers and their trade unions.

Resetting time of 35 hours corresponds to one of the promises of the current government, and the Finance Minister has reiterated that the measure can not entail increased costs for the state.

According to the unions representing public servants , increased working hours represented a drop of 14% in the value of wages.

the Portuguese civil servants are those who, in the European Union (EU), work more hours per week, but with replacement of the 35-hour time become of those working less time.

currently, meet 40 hours per week, Portugal is aware of Slovenia, Estonia, Hungary, Latvia, Poland, Czech Republic and Romania, but from Friday the Portuguese civil servants are below the EU average to 27 [before the accession of Croatia to July 1, 2013], which is 38.45 hours per week.

in Portugal, the weekly working hours of 35 hours has been formally adopted by many municipalities, after the first government of Passos Coelho (PSD / CDS-PP) have been forced by the Constitutional Court to publish the collective agreements of public employer (ACEEP) had decided to retain, to avoid resetting the time

Digital Money with Lusa

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Government deficit improved – RTP

The public deficit has improved over the same month last year.

 Portugal reached the best deficit since 2008.

The improvement in the deficit is explained by revenue growth at 1.6 percent and stabilization of spending.

The Ministry of Finance said that the economy and the labor market have shown positive signs.

There was an increase of 2.7 per cent of tax revenue and 3.8 percent of the contributory income of workers and enterprises.

Local accommodation by Airbnb earned 43 million euros – Daily News – Lisbon

Lisbon. average monthly income of owners is 530 euros. Number of guests who used the short term rental through the Airbnb platform doubled in the last year

The number of guests received on-site accommodation in Lisbon, through the Airbnb platform, doubled last year. In 2015, they settled in the Portuguese capital in rental regime short, 433,000 guests. The previous year had been 213,000.

According to a report released yesterday by the company, almost half a million guests surrendered to homeowners 42.8 million euros. The average income of an Airbnb host (in practice a site where they can be made available homes for rent, and which can also be made to reserve) is 530 euros per month. – The value of the national minimum wage

in the estimates of Airbnb, the economic return to the city have risen in 2015 to 268 million euros – in addition to the 42 million paid to owners, they will have been spent 225 million in trade and local services. At the head arise restaurants (37%), followed by shopping (21%), entertainment (15%), transport (13%) and in supermarket shopping (12%).

the numbers of Lisbon yesterday presented by Airbnb contrast with the national whole, reflecting the tourist boom that we are witnessing in the capital. Considering the whole country, the average monthly income of the owners who put a property on Airbnb is 290 euros, well below the average in Lisbon.

The number of days that the house is occupied by guests is also lower -. 68 in the country, 76 in Lisbon

in the case of capital, the average length of stay is 4.1 nights – higher than the hotels, where to stay round, as a rule, the two nights .

a growing phenomenon

the lodging in visible growth in the capital, has been touted as one of the main factors contributing to the rise in income and the decrease in the number of houses available in the traditional rental market. According to figures from the Association of Professionals and Real Estate Companies in Portugal (APEMIP), the number of houses for rent fell more than 30% in recent years, a phenomenon that is felt particularly in Lisbon and Porto. The decrease in the number of houses has matched a rise in rents.

 On the other hand, the numbers of local accommodation has been increasing: currently about five thousand buildings registered for short stays. And this number does not necessarily reflect the reality of local accommodation.

Yesterday, in an interview with Antena1, Secretary of State for Tourism, Ana Mendes Godinho, admitted that the rental houses to tourists is a sector where there is great tax evasion. The official said, in fact, a partnership with Airbnb to end cases of illegal lease. Another area where the government is preparing to intervene is for tax purposes, as the short term rental currently has a more favorable tax treatment than permanent accommodation: in the latter case the owners pay a 28% tax on the total income . In the short term rental rate concerns only a slice of 15%.

The uniformity of the tax system has been one of the demands of the Association of Lisbonenses Tenants (AIL), who also advocates restrictions on local accommodation. “If the government and the camera are not realize what has happened in other cities such as Barcelona, ​​some time from now we will have serious problems of sustainability,” says the president of AIL, Romao Lavadinho, adding that this phenomenon can push to the periphery especially the younger population. “They can not bear not to purchase or lease,” he says. The AIL claims that in buildings where there is a permanent lease, can not coexist the short term rental to tourists.

Euronext committed to working with the government in Mission Unit – Express

“We are attentive to the Unit Mission for the capitalization of the companies (a project created by the government). We are working together. It is not a task to do alone. They have to be involved business associations. It is not something that will happen if we sit waiting “argued Maria João Carioca, the new president of Euronext Lisbon at a meeting with journalists to explain their strategy to the Lisbon square. “Part of our concern is to be positive. We realize that there are many ambitious measures and a long way to go,” he added.

Maria João Carioca admits that there is no miraculous measures to take the bag Lisbon levels 90s where plunged in recent times, but argues that “there are many small measures that are expected to have positive consequences. the context is what it is. uncertainty is brutal,” says the president of Euronext Lisbon. And one of the extra factors of uncertainty is the output of England the European Union, called Brexit.

“I can not say I know the measures of Mission Unit to 100%. Some had already been discussed with the previous government, others are new, “he said. He continued, “Some measures are not of direct intervention and these are the most please us, because we are aware that have consequences in the longer term”

There are measures in Mission Unit that will serve to attract more investors to the market, admitted the manager, without detailing. And he stressed that want a closer to small and medium-sized enterprises (SMEs). “It is one of the processes that need to be worked out”, he said. “But I can not force companies to come Bag”, he said. The Exchange is prepared for an initial public offering of the New Bank, a hypothesis on the table. But on this subject, Maria João Carioca did not mean anything.

“My goal is not volume, prefer a sale made in a consolidated manner,” he said. The president of Euronext Lisbon admits that the PSI 20 index, now only 18 companies, will have to be rethought, but will not be in the short term.

The new president of the Portuguese stock exchange confessed that the last days were of great unrest in Euronext because of Brexit with constant telephone conferences to decide what to do every now and reassure workers Euronext who are in London. The Brexit was a shock. Euronext worked for some time in both scenarios, the permanence and output. Euronext’s pan-European stock exchange platform that brings together the bags of Lisbon, Paris, Amsterdam and Brussels. The Portuguese market is the smallest of the four.

“The role of the City will be rethought and questioned in the near future. The Brexit involves additional complexities, including the regulatory basis,” he explained. Before Maria João Carioca had said that the merger between the London Stock Exchange and Deutsche Borse, a huge challenge for Euronext, may now face some adversity. The management, framework of the Bank of Portugal and former administrator of the case, said that Euronext is aware of the consolidation process and permanently in talks for possible partnerships with their counterparts.

Mafalda Angels is the new director of Vision – publico

 
         

                 

                         
                     

                 

 
 

Mafalda Angels is the new director of the magazine View , replacing John Garcia. The change is already the 1st of September. Rui Tavares Guedes will continue to be part of the magazine’s direction.

Speaking to PUBLIC, John Garcia asserts that the withdrawal was “peaceful and shared with the administration.” “I thought it was time, after all are already 40 years in journalism and I want to dedicate myself also to other interests,” he says. “It was a year of many changes the graphic and editorial level”, tells of the year took place director of the magazine. As for Mafalda Angels, describes it as a “competent person”, trust and with whom he had the pleasure to share this last year.

In a statement released Tuesday, the Impresa group leaves you a thank you: “The John Garcia, the administration of the Impresa Group thanks all their commitment, dedication and professionalism demonstrated over several years in editorial projects such as the Express , View or Courrier International . ”

Mafalda Angels took the position of the magazine’s deputy director since June 2015. Throughout his career joined the magazine Exam in 1998, from the following year for Focus , where he was editor of the economy. In 2001, markets editor becomes Economic Weekly and 2006 and 2008 goes to Deputy Director. In 2008 he became editor of the journal Express .

Also in the journal Caras for changes, with Almeida Natalina to take place director from 1 August, taking the place it was taken over by Fernanda Dias.

                     
 
 
                 

             

Banif: Constancio said the bank did not raise “significant problems” – TVI24

The former governor of the Bank of Portugal (BoP) Vítor Constâncio said to have now a memory “very incomplete” of the issues around the Banif which analyzed but stresses that the bank did not raise by 2010 , “significant problems”.

“I left to represent the institution in June 2010, did not bring me any property documentation bop and do not naturally right to request any information at this time. the entire institutional memory is held by the bop and my memory of the few issues relating to Banif that were enjoyed on the Board of Directors, after so many years, is naturally very lacunar “ , advocates Constantius, current vice president of the European Central Bank (ECB).

the words of the responsible part of a set of responses sent to Members of the parliamentary inquiry Banif, text revealed Tuesday by ie newspaper to which the Lusa agency also had access.

in the letter, eight pages, Vítor Constâncio stresses that “few numbers” citing in their responses were removed from the web site of the central bank, because while he was governor never was in charge responsible for the supervision.

“Banif was not the most important banks of the system and not raise during my term significant problems that had I been presented to me or the Board of Directors’ , vinca.

During the ten years he was governor, Constancio says he never received “either the services or the deputy governor responsible for banking supervision issues, information that could undermine the financial soundness Banif or appropriate compliance with prudential ratios which are a key aspect of banking supervision. “

Then, the current ECB framework cites a 2008 report from the International Monetary Fund (IMF) where it is said that” the Portuguese financial system remains sound and well supervised, “even after the fall of Lehman bank.

About Banif presence in Brazil, a deal that led several critical in some hearings in the inquiry committee, Constantius He says that “in 2009, the Banif presence in Brazil was modest and activity showed no signs of irregularity that deserve to be brought to the attention” of the administration of the boP.

Constantius stresses that their answers in writing ” refer exclusively “to the period when he served as governor of bop,” before joining the staff of the ECB “, as, maintains,” as a European institution, the ECB shall report only to the European Parliament, as the Treaty of European Union “.

the hearings of the Banif inquiry committee just last week and at this stage the deputy rapporteur, Eurico Brilhante Dias socialist, will prepare the final report of the work, to be presented in commission during the month of July.

commercial solution for “injured” emigrants was completed, says New Bank – publico

 
         

                 

                         
                     

                 

 
 

The New Bank said Tuesday in a statement to the market that it has completed the implementation of the business solution which was accepted by 6,000 migrants clients who had invested about 500 million euros in the former BES savings products.

These migrants had applied savings products marketed by Banco Espírito Santo (BES) – savings Plus, Top Income and EuroAforro8 – who were at risk when the bank’s fall led by Ricardo Salgado, in summer 2014.

in an effort to minimize losses, the New Bank – the bridge bank that got the least problematic assets BES – created commercial solutions proposed to customers of those products, emigrants, which were accepted by about 80%.

According to the information now sent to the Portuguese Securities Market Commission (CMVM), “on 19 April, the settlement was in kind of preference shares of the vehicle EuroAforro 8 and later delivery of the senior obligations of the New Bank and constitution of time deposits applicable under the commercial solution, having been fully implemented business solution regarding this vehicle. “

in the month of June” was finalized implementation process of commercial solution of the remaining vehicles listed above and customers that joined the commercial solution received the senior obligations of the New Bank and their deposits were made. “

the New Bank says it is This completes the “implementation of the business solution” which, according to official sources, covered “investments in the amount of 500 million euros and expects to recover up to 90% of invested capital.”
As for customers who did not accept the commercial proposal, they may still exercise the choice of settlement in kind of preference shares “in the following years,” said the institution.

according to the explanation of the New Bank, the commercial solution provides, at first, the constitution deposit not Callable term for two years with an annual rate Nominal Gross (TANB) of 1.5% and the transfer of obligations amounting to 60% of capital invested, as well as the constitution of another deposit guarantee recovery in six years 90% of invested capital.

As mentioned above, despite the commercial solution proposed by the New Bank, not all emigrants customers accepted. Indeed, the Movement Association of Emigrants Portuguese aggrieved (AMELP) recommended that its members do not subscribe the proposal, considering that it was not fair and did not fit the profile of these customers, since it implied the subscription of long-term obligations of the New Bank and the term deposits will be subject to the value of these obligations.

AMELP also criticized that the 400 people who signed up to the EG Premium and Euro Aforro10 products has not been offered any solution, the only being alternative to claim the money in court. Already the New Bank argues that it was not possible to offer a solution in this case because of the type of financial instruments covered by these products.

                     
 
 
                 

             

Scandal emissions costs 15 billion to Volkswagen in the US – Magazine Saturday

Scandal emissions costs 15 billion to Volkswagen in the US

The German construction company reached an agreement with the US authorities because of the process that is targeted in the country . Owners of affected vehicles receive value of the car and up to $ 10,000.

10:43 • Business

Nuno Carregueiro – Business Journal

the bill emissions-fixing scandal of Volkswagen in the United States already have a value. The German manufacturer has reached agreement with the US authorities, agreeing to pay 15 billion dollars.
According to international news agencies, the agreement will enter Tuesday the Court of St. Francisco, in the United States, and exceeds by 5 billion dollars the amount that was being reported.
to compensate owners of the vehicles and buy back the cars affected Volkswagen will spend 10,030 million dollars. In addition to seeing the Volkswagen pay the market price for their cars, automobile owners receive up to $ 10,000 each for the damage that this case has caused them.
Volkswagen will pay even about 2, 7 billion dollars in fines in the United States, which will be directed towards environmental protection institutions. And invest 2 billion dollars in technology to limit pollutant emissions.
In Volkswagen’s accounts the company only accounted for 16.2 billion dollars to cover the legal costs caused by this scandal emissions . But the bill will be much higher, as the company faces other lawsuits in the United States, Europe and other regions. Analysts pointed to a bill that could reach 55 billion dollars.
Consumers in the United States who wish to participate in this agreement between Volkswagen and the US authorities have to deliver the car or accept they are transformed to meet emissions targets.
This agreement is one of the largest ever in US history, still being far from the record. In 1998 the tobacco industry agreed to pay 246 billion dollars. BP also agreed to pay more than 25 billion dollars for oil spill in US coast.

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