• logo


logo

Timely and Inspiring Prophetic Analysis so you can Prepare.


  • Home
  • Monthly Messages
    • Pastor Mayer
    • Pastor Nelson
    • 2023
    • 2022
    • 2021
    • 2020
    • 2019
    • 2018
    • 2017
    • 2016
    • 2015
    • 2014
    • 2013
    • 2012
    • 2011
    • 2010
    • 2009
    • 2008
    • 2007
    • 2006
    • 2005
    • 2004
    • 2003
    • 2002
    • 2001
    • 2000
    • 1999
    • 1998
  • Briefings
    • Prophetic Intelligence
    • Nature Knows Best
    • Prophetically Speaking
    • Articles of interest
  • Events
  • Videos
    • KTF News
    • KTF Live
    • Interviews
    • Sermons
    • Promo Video
  • Store
  • Make a Gift
loading...
  • Post
  • Similar Posts
  • Post Icon
  • author
  • Pastor Hal Mayer

    Speaker / Director

Latvia to Join Euro Zone

Wednesday July 17th, 2013
Print This Post Print This Post

On January 1, 2014, Latvia will become the next member of the European Union to join the common currency, in spite of the economic crisis that continues to plague the political and economic block. European finance ministers approved the country to join the common currency in spite of the fact that Latvia plans to become the next Cyprus by establishing at the same time a banking haven like the tiny island nation that slid into vassal status recently because of its economic profligacy.

Latvia’s new tax laws will go into effect in January as well, in order for it to compete “on a level with Ireland, Cyprus and Malta,” which could further destabilize the European economy. Latvia is lured by the capital that the euro will bring.

The European Union has made tax evasion a top priority every since the International Consortium of Investigative Journalists (ICIJ) exposed the vast scale of tax evasion undertaken by multinationals around the world.

“Instead of eliminating established tax havens, we have added a new one to the euro zone,” says Sven Giegold, a financial expert with the Green Party in the European Parliament.”

Ireland and Cyrus each had 12.5 percent corporate tax rate, which is a little more than half of the rate of the rest of the nations of Europe. They have both gone bankrupt and sought emergency aid from the EU. Latvia’s corporate tax rate is 15 percent, which could eventually add to the burdens of the Euro zone.

In addition, dividends of stock held by holding companies are tax free since the beginning of 2013, and transferring funds out of Latvia is also tax free. Latvia also offers other “loop holes,” tax breaks and other benefits such as lower fees for transfers than other such countries.

These benefits open the door to all manner of tax evasion and money laundering by wealthy individuals or crooks. Some are now calling Latvia the “Luxembourg for the poor.”

As money-laundering suspicions continue to arise, banks take in money from countries like Cyprus, where depositors saw a large percentage of their deposits confiscated during the recent crisis. Latvia still got approval to join the Euro zone. It appears that tax havens will continue to be admitted to the common currency area. And they will continue to present even more risks to the already shaken currency.

Keep in mind that as the Holy Roman Empire continues to rise, there are reasons other than their banking practices to bring them under the control of the Euro zone.

“Who hath taken this counsel against Tyre, the crowning city, whose merchants are princes, whose traffickers are the honourable of the earth? The LORD of hosts hath purposed it, to stain the pride of all glory, and to bring into contempt all the honourable of the earth.” Isaiah 23:8


Source References

  • Latvia and the Euro: Meet the EU’s Newest Tax Haven
  • Offshore Leaks: Vast Web of Tax Evasion Exposed

Prophetic Intelligence Briefings are provided to show a link between current events and Bible prophecy only. The reposted articles, which are not intended as a commentary in support of or in opposition to the views of the authors, do not necessarily reflect the views of Pastor Mayer or of Keep the Faith other than to point out the prophetic link.

Comments


Post a Comment!

Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.


  • Request your free subscriptions now

    • English
    • Deutsch
    • Español
    • Português
  • Latest Message

    Request CD | View Transcript
  • Make a Gift

    Or click here to send a check
  • Prophetically Speaking…

    “The most odious of all oppressions are those which mask as justice.” more…

  • Recent Posts

    • Italy’s Mount Etna volcano spewing smoke and ash in new eruption
    • Prophetically Speaking…
    • Communicating with deceased loved ones using AI
    • Prophetically Speaking…
    • God’s People And Gambling
  • Tags

    Catholic Church church and state Donald Trump globalization government natural disaster politics Pope Francis Prophetically Speaking Quote of the Day religious freedom religious liberty United States Vatican
  • Recent Comments

    • Sherry Kocian on Why is the Lord’s Day celebrated on Sunday instead of Saturday?
    • admin on Cancer Cells Can Be Starved to Death, Here’s How
    • Likezo Shann on Cancer Cells Can Be Starved to Death, Here’s How
    • William Stroud on Blinken: ‘We Celebrate the Achievements…of Transgender, Nonbinary and Gender Non-Conforming Persons’
    • Edita Vaughan on Why Some People Never Become Infected With COVID-19
  • Follow



logo
  • Home
  • Subscribe
  • Store
  • About KTF
  • Meet the Team
  • Terms of Use
  • RSS Feed
  • Contact
top

© 2022 Keep the Faith. All Rights Reserved.  Webmaster »



Share
Send Email
  • Send
close