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Another fatal accident on the Algarve's 'road of death'

inemFour people died on Portugal’s roads last weekend with the authorities detaining 189 drivers in a nationwide operation over the ‘Day of the Dead’ weekend.

At 575, there were 12 more accidents than in 2014, with 130 of the 189 drivers detained being found over the drink-drive limit.

Millennium back in the black with €264 million profit

millenniumSome rejoicing was in order today at Portugal’s largest bank as Millennium bcp reported a net profit of €264.5 million to the end of September.

Last year’s losses of €110 million over the same period have been reversed by a 21% leap in interest income and trading gains.

Dutch determined to crack down on tax avoidance

hollandDespite striking its own favourable tax deals with Starbucks and others, the Netherlands says it will kerb tax avoidance schemes when it acquires the six-month presidency role.

The country’s finance minister, Jeroen Dijsselbloem, said the Netherlands wants to progress the clamp down on corporate tax avoidance during its EU presidency.

Lufthansa threatened with more strikes

lufthansaThe cabin crew of Lufthansa have vowed to start a seven-day strike beginning on Friday.

The announcement was made by the cabin crew union Ufo.

Algarve lashed by torrential rainfall

rainThe Portuguese weather service was right to put the Algarve on red alert as storms and rain lashed the region on Sunday.

The uncannily accurate prediction that all would be over by 3pm none-the-less left high seas raging along the west coast and a mop-up operation in many villages, towns and cities.

Greek banks' stress test triggers third bailout, Portugal's is next

greekbankGreece’s third bailout from Europe thankfully will be smaller than the €86 billion that was earmarked.

The European Central Bank's 'stress test' of the shattered Greek banking sector showed that the country's banks needed less recapitalisation than at first thought.

Ikea founder pays first Swedish tax in more than four decades

ikea2The founder of Ikea is reported to have paid Swedish income tax for the first time since he left the country in 1973.

Ingvar Kamprad, 89, was made a billionaire by the flatpack furniture business.

Landlords must issue electronic receipts as from Nov 1st

apartmentsA new requirement from the taxman already has seen 165,000 landlords sign up for an online system which enables the State to track who is renting what to whom – and also check that the correct income is entered in the landlords' tax returns.

On the other side of the coin, long-term renters can be assured that they are properly registered with their rental contract available for inspection on the Finanças web portal as well receiving official receipt confirmation issued by email whenever a rental payment is registered by the landlord.