Author: Archive

Tax check for pensioners in Germany helps save cash

Posted by | Jan 15, 2008 | |

Do I need to file a tax return or not? That is the question more and more pensioners who have rarely had to have any kind of dealings with the Finanzamt (German tax department) until now are asking themselves.

However, the Alterseinkünftegesetz (German retirement income act) requires approximately 3.5 million pension recipients to file a return. The fact that the Department of Finance will in future know about pensioners’ income because it can exchange data with other departments has made this a particularly explosive issue. Many of those affected are unclear about the legal position – and hence also about the tax relief options that are often available to them.

Two strong partners

This is where a new co-operation between two strong partners comes into the picture. Germany’s largest income tax assistance society, Vereinigte Lohnsteuerhilfe e. V. (VLH), and Deutsche Post AG’s Pension Service have set up a joint online service. VLH’s experts have set up the so-called ‘tax check’ on the Pension Service’s service platform, www.rentenservice.de and it can be used by pensioners and helpful family members with internet access free of charge as of now.

VLH and Deutsche Post’s Pension Service have a special offer for pensioners who avail themselves of VLH’s advisory services if it transpires that they are required to file a return. When they present their pensioner’s identity card, the joining fee, which is currently EUR10, is waived.

By expanding the portal, the Pension Service and various initiatives of the German federal government and the European Union are aiming to make using the internet simpler for pensioners.

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Government to shed its stake in MaltaPost

Posted by | Jan 14, 2008 | |

The government’s 40 per cent shareholding in MaltaPost is being offered for sale via an Initial Public Offering (IPO) and MaltaPost shares will be quoted on the Malta Stock Exchange later this month.

At a news conference held at the Mediterranean Conference Centre early last week to announce the sale, Minister Austin Gatt succinctly explained, “The government’s business is government and not business.”

He said that the event was the final step in Maltapost’s privatisation process that had began five years ago resulting in a leaner and more efficient postal service that could operate on commercial lines. As a government entity the postal service was “expensive to run and resulted in taxpayers’ money being poured in,” he said. In the Maltese context, he believed it made sense to allow Lombard Bank, a strong and respected local financial institution, to take a majority stake “but we are now also providing an opportunity to the public to invest in this company by putting our remaining shares up for sale through this IPO,” he said. We did this with a purpose. A deal could have been struck to sell all the government’s shares to Lombard Bank, but this government believes in extending the public an opportunity to invest and that is why we are listing the shares on the stock exchange.”

The share offer is of 11,200,000 shares of a nominal value of e0.25c per share at a Share Offer Price of e0.50c per share. The offer is being made by the Malta government and Malta Government Investment Limited that currently own 40 per cent of the company. Maltapost market capitalisation is currently set at e14,000,000. The company is also to adopt a dividend policy of distributing up to 50 per cent of yearly available profits.

1 USD = 0.288408 MTL

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Arab nations gear up for UPU Congress

Posted by | Jan 14, 2008 | |

Postal administrators from Arab countries discussed the Arab stand on postal issues at the 15th meeting of the Arab Permanent Postal Council at the General Secretariat of Arab League, Cairo.

Emirates Post was appointed head of a special committee to prepare the Arab approach for the UPU Congress which will be held in Nairobi from August 13 to September 3, 2008.

A high-level delegation from Emirates Post headed by assistant director general, operations, Salem Al Shaya took part in the deliberations. The participants included senior officials from Arab postal corporations, the Arab League and the UPU.

The council discussed a number of key issues, including modernisation of mail operations in Arab countries. It was decided to issue a stamp on Arab Postal Day on September 3, 2008.

The meeting also urged all Arab postal corporations to participate in the Stamp Exhibition in Doha from January 30 to February 3, 2008.

The council reiterated its support to Palestine Post and called for steps to help the state modernise its mail and parcel services. It was also agreed to issue special stamps on Palestine Land Day and donate the proceeds to Palestinian Authority.

The Emirates Post delegation made presentations on International Financial Services (IFS) as head of the Arab management committee, the Arab postal strategy for Nairobi Congress 2008 and UPU clearing.

Other members of the Emirates Post delegation included director, operations, Saif Al Shehhi, and postal operations consultant Nasser Qadoumi.

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Survey: FedEx's Smith among top CEOs (US)

Posted by | Jan 14, 2008 | |

FedEx Corp. Chairman, President and CEO Frederick W. Smith is among America’s best Chief Executives, according to Institutional Investor magazine.

Smith was named the best CEO in the airfreight and surface transportation category for the second consecutive year in the magazine’s survey.

The magazine surveyed portfolio managers, analysts and other investment professionals and asked them to name the best CEOs in their sectors.

Around 900 people at 425 institutions responded with first, second and third place votes in each of the sectors with which they were familiar.

“A common trait exhibited by many of the winners is experience managing through crises, scandals and turnarounds,” the company stated in a release.

Based in Memphis, FedEx Corp. provides transportation, e-commerce and business services through several divisions, including FedEx Ground, FedEx Freight, FedEx Kinko’s and FedEx Global Supply Chain Services.

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Royal Mail Group employees lead the way in carbon offsetting (UK)

Posted by | Jan 14, 2008 | |

The Woodland Trust is challenging businesses to follow Royal Mail Group’s example in enabling its people to offset their carbon emissions by planting trees.

Already 130 employees from Royal Mail, Post Office Ltd and Parcelforce Worldwide have signed up to the newly launched scheme to give money direct from their wage packets to the Woodland Trust, which will enable the charity to plant and look after 2,500 trees in its 1,000 UK woods.

To find out how many trees the employees would have to plant to offset their annual carbon footprint and to get tips about how to reduce their emissions they used a revolutionary new carbon calculator called Ollie.

This calculator, developed by Royal Mail, asks employees about their home energy usage, as well as car and air travel before calculating how many trees will need to be planted to help offset their carbon footprints.

This is the first time a company’s employees have ever been given the opportunity to offset their residual carbon emissions tax free through their wage packets to a charity which specialises in UK woodland creation.

Now Royal Mail has launched the scheme internally the company has gifted the carbon calculator to the Woodland Trust, which is challenging other businesses to follow Royal Mail’s example and offer their employees the opportunity to help offset their carbon footprints.

Royal Mail staff are no strangers to giving to charity though their wage packets, which is called payroll giving. Royal Mail was among the first organisations to set up payroll giving in 1989 and its scheme is one of the largest in the UK. The calculator is being promoted directly in the workplace by representatives from Payroll Giving in Action, who help employees to do calculations and fill out pledge forms.

About 50,000 staff are currently signed up to payroll giving and during the last financial year gave more than GBP 2.6 million to charitable causes.

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DHL Express expands Swedish consumer parcel network

Posted by | Jan 14, 2008 | |

DHL Express Sweden has expanded its recently-created network of 1,100 Servicepoints for consumer parcel services through an agreement with Scandinavian retail group Reitan Servicehandel. The expanded service is a key part of DHL Express Nordic’s strategy for 2008.

Under the deal, Swedish consumers and SMEs will be able to drop off or pick up their parcels at DHL Servicepoints within 7-Eleven stores and Pressbyran newspaper kiosks and shops located across the country, DHL Express Sweden said in a statement.

Reitan Servicehandel operates 72 7-Eleven shops in Sweden in Stockholm, Gothenburg, Helsingborg and Malmo, while there are 318 Pressbyran outlets across the country attracting some 1.4 million customer visits a week, according to the group’s website.

DHL Express already has a network of 1,100 Servicepoints in Sweden operated as shop-in-shop services under contracts with a wide range of retailers. Private customers can hand in or collect their parcels at the Servicepoints.

Consumers sending parcels can book the shipment with DHL online and receive a shipment number to attach to the parcel. Payment is made directly to the retailer. Customers receiving parcels are informed by SMS or e-mail that their item is ready for collection.

The expanded service is a key part of DHL Express Nordic’s strategy for 2008 to strengthen its leading position in the region, said Martin Södergård, managing director of DHL Express Nordic.

The key aims were to intensify customer dialogue and make DHL Express more attractive as a potential partner by investing in service and improving access to products. “For me the Nordic region is a very exciting region because we have the chance to offer our customers a comprehensive product portfolio,” he commented. DHL Express Nordic, with 6,000 employees, covers Denmark, Norway, Sweden, Finland and the three Baltic states.

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