Doing business in Europe1. Common MarketThe first chapter mainly deals with the definition and peculiarities of the so-called Common Market, formed by the countries of the European Union. The Common Market includes the European Coal and Steel Union, the European Economic Union and the European Nuclear Energy Union. Since 1967, the European Union has been made up of the following non-national and intergovernmental bodies: Cabinet of Ministers, Commission of the European Union, European Parliament and Council of the European Union. Before 1970, European Union countries supported the European Union budget at the cost level of their respective national budgets. Since April 1970, the Common Market has held its resources independently of the budgets of supporting countries. This fact makes the administrative bodies of the European Union independent.2. Tax system Common to Europe and the whole world is the tax system which includes all or most of the following taxes: income tax, corporation tax, trade tax, turnover tax, property tax, wealth tax , tax on the purchase of land.3. International concerns, transnational corporations and their policiesThese include the policy defined in the field of profitability of foreign subsidiaries. The policy aims to achieve high profits in countries with relatively low taxes, and in countries with high taxes the accumulated profit must be lower. The common objective of multinationals is, of course, to preserve the liquidity and profitability of foreign subsidiaries. Therefore such branches are required to send certain information to the head office every month or every quarter.4. World currency systemThe European market is a sum of currency transactions carried out in the free world market outside the native country. International currency terminology distinguishes currency markets as: foreign exchange markets, where the exchange of foreign currencies takes place within the country of origin, and the Euromarket, where the exchange of foreign currencies takes place outside the country of origin.5 . How to Sell in the Western MarketThe common conditions for success are like a set of rules. The first rule states: It is relatively easy to produce something, but selling it is a challenging task. The basic principle of survival for the manufacturer is to produce goods that can be sold, not to sell what the company produces. Common conditions for market survival include high product quality, fast and affordable support, a satisfactory warranty period and good marketing. Cultural differences must be considered here, along with information about previous experience in selling the particular product within and outside the country of origin, differences in mentality, pace of progress, cultural values, religion.