Besides, counterfeiting deprives the EU of approximately €14.3 billion a year in tax revenues, notably VAT and excise duties. CESE advocates the creation of a new regulatory framework, to strengthen legislation and Europe-wide initiatives in the field of anti-counterfeiting.The estimated worth of counterfeit goods worldwide ranges from €600 billion, according to the UN, to nearly €1 trill…
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Less than two weeks after his chaotic ascent, Speaker of the House Kevin McCarthy is already facing down a potential crisis. In a letter sent to McCarthy on Friday, Treasury Secretary Janet Yellen warned that the U.S. is expected to hit its $31.4 trillion debt limit on Thursday, January 19, and outlined a plan to delay the resulting default until the summer.
It is the first such debt lim…
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