News

The impact of the ‘gig economy’ on labour laws
26.06.2017 | The expansion of the ‘gig economy’ is riddled with legal and fiscal pitfalls for those workers deemed self-employed. Is it time that the legal framework governing this business model brings parity with the rights of those with “permanent” employment contracts. On the 1st May, 2017, the Work and Pensions Committee of the UK Parliament published…
Fiscal minefield
26.06.2017 | Investment in Passive Foreign Investment Companies (“PFICs”) Creates Potential Tax Pitfalls for U.S. Investment Funds.
A word of advice
26.06.2017 | The UAE Minister of State for Financial Affairs announced early last year that the UAE will implement value added tax (VAT) at the rate of 5% on 1 January 2018.
Spains signs up for e-vehicles
26.06.2017 | With an injection of 16.6 million euros in 2017, the Plan Movea will continue to finance the purchase of these more environmentally-friendly vehicles.
Automobile production in future without any Chinese partners?
23.06.2017 | China pledges to end 50% cap on joint-auto ventures by 2025. On April 25th, 2017, several government agencies released the latest industrial plan for China’s auto industry.
Grants of up to 21,450 euros for an electric car …
17.05.2017 | … not only in South Korea, where particulate matter and smog pollute the air they breathe. Ever since “dieselgate”, electric cars have been hailed as the new saviour of our environment. Ecovis, a consultancy firm focussing particularly on the interests of SMEs, turned to its international partner offices for answers to the question of what financial incentives to purchase e-cars or plug-in hybrids exist in their respective countries.
Licensing of Fintech companies and Finance Institutions in single European market
16.05.2017 | Fintech companies, banks, E-money institutions, insurance companies, investment funds and investment managers, securities brokers, forex companies, crowdfunding platforms and other finance institutions in Europe are subject to higher regulation and risk management requirements. Licensing of the Finance Institution in one of the member states within the European Union (EU) opens business opportunities to act and…
Vietnam Newsletter May 2017: New regulations on invoice
16.05.2017 | On 27th April, 2017, Ministry of Finance has issued Circular 37/2017//TT-BTC amending and supplementing some rules on invoice in Circular 39/2014/TT-BTC as follow: Examining time for self-printed invoice is 2 working days: “Having written request for permission to use self-printed invoice (Form 3.14, Appendix 3 attached with this Circular) and being certified to meet all…
Strict regulations to manage a booming economy
09.05.2017 | On 31st March, 2017, the President of India gave his assent to the Indian Finance Bill 2017 to become the Finance Act 2017. Important changes have been made to the Income Tax Act (see below) applicable from 1st April, 2017, pertaining to the assessment year 2018 – 2019. Penalties for exceeding cash dealing limits are high so it is crucial that the ever stricter legal provisions be adhered to.
Lucrative market: health care sector in China
09.05.2017 | With China’s population growing both wealthier and older, the country’s health care sector is looking forward to a bright future.
Get your money back – time to act quickly
09.05.2017 | Businesses paying VAT in Switzerland have only until June 30, 2017, to claim their 2016 VAT refund.
Bank license in Europe – Lithuanian Specialised Bank
26.04.2017 | In January, 2017 European Union member state Lithuania introduced a new “light” banking license – Specialised Bank. Specialised Bank is allowed to provide almost all traditional banking services in European Union (EU) and European Economic Area (EEA) member-states: lending, payment services, receipt of deposits, currency exchange, issuing of e-money, issuing guarantees, fund administration, financial leasing,…
Data protection in FinTech companies – time to prepair for the new regulation
21.04.2017 | FinTech industry, resulting from the strengthening of linkages between the financial services and information technology sector, is a real technological whirlwind, providing financial markets with an enormous leap in progress.
SA Revenue Services offer investment incentives in VCCs
05.04.2017 | For high net-worth private individuals in South Africa, investing in venture capital businesses are an interesting component of any effective tax-planning strategy, but they must also be aware that they are not completely risk-free.
China’s Automotive Market after the Tax Increase
05.04.2017 | Ecovis has many clients in the automotive industry. The tax hike on 1st January, 2017, from 5% to 7.5%, caused some confusion among clients about future business prospects.
A healthy economy of great potential
05.04.2017 | Chile leads regional indexes and attracts foreign direct investment for 200,000 million dollars
The revision of the Swiss VAT law as per January 1, 2018 brings about important changes which may also have an effect on foreign companies.
05.04.2017 | Any business operating in Switzerland needs to evaluate carefully whether its taxable turnover might be subject to and may have to be registered for Swiss VAT.
Newsletter New Zealand
20.03.2017 | Trusts – the landscape is changing Tax and GST implications of Air BNB Accommodation A Reminder About Directors’ Duties Making and Receiving Payments under the Construction Contracts Act 2002 Selling across the ditch – GST on low value goods Whats changing on 1 April 2017 Essential housekeeping for end of year Points to Note
Enforcement of Companies Act 2016
06.03.2017 | The Companies Act 2016 (“the Act”) in Malaysia was passed by Parliament in April 2016 and gazetted on 15 September 2016. On 13 January 2017 the SSM (Companies Commission of Malaysia) announced that the Act will be enforced (for incorporation first) effective from 31 January 2017. “The Companies Act 2016 has been passed to simplify…
Global financial giant will develop its first FinTech product in Lithuania
03.03.2017 | deVere Group, which owns more than 60 companies in the UK, Germany, France and other EU countries as well as Switzerland, the USA, Australia and China, and has more than 80 000 customers in more than 100 countries around the world, has received e-money institution license and is starting to provide financial services. Read more…
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