News

UK: Uber’s data privacy breach – the consequences
20.12.2017 | We are now less than six months away from the implementation of the General Data Protection Regulation (GDPR), which is expected to produce massive changes to be implemented by businesses when handling the data of third parties. Among the GDPR’s most headline-grabbing provisions are the significantly increased administrative fines. There is also the requirement that…
Spain: Hope for the best but expect the worst
20.12.2017 | Automotive sector: HELP!! My supplier is facing insolvency and can halt my production line. There are two important features in the modern automotive sector: first, there is a long list of suppliers, and second, just-in-time production. In many cases, the situation becomes more precarious where suppliers work with production elements, especially tools, provided by a…
Germany: Panama and Paradise Papers – the different money hiding places in tax havens worldwide
20.12.2017 | According to reports in the online edition of the German newspaper Süddeutsche Zeitung dated 05.11.2017, which was involved in the processing of the new data leaks, new data sets with the names of numerous persons suspected of hiding their assets using letterbox entities abroad have been published under the name “Paradise Papers”. The Paradise Papers…
International tax barometer – Traps global online vendors can avoid
20.12.2017 | Dealers are advised to inform themselves properly about registration requirements, VAT rates and thresholds with respect to online trade not only within the European Union. There is no uniform regulation on how goods are taxed in different parts of the world. This is why Ecovis has turned to its international partners to discover what fiscal…
Ecovis is now represented in Morocco
07.12.2017 | Ecovis welcomes our new partners from ECOVIS Morocco headquartered in Casablanca. ECOVIS Morocco is a public accounting firm established in 2012, which provides auditing, tax, accounting and consulting service. Nassim Karim and Mehdi Benouna are the partners of ECOVIS Morocco. They lead a team of eight staff members. Nassim has more than ten years of…
ECOVIS ELKADEEM & CO. headquartered in Cairo
Ecovis is now represented in Egypt
28.11.2017 | Ecovis welcomes our new partners from ECOVIS ELKADEEM & CO. (www.ecovis.com/egypt) headquartered in Cairo. ECOVIS ELKADEEM & CO. is a public accounting firm established in 1985. Ahmed El Kadeem is the partner of the firm and Salma El Kadeem is responsible for all marketing activities. With a team of 23 professionals they offer audit, tax…
Ecovis strengthens its presence in Luxembourg
28.11.2017 | In addition to our existing partners of ECOVIS Luxembourg we welcome our new partners from ECOVIS IFG AUDIT SA headquartered in Luxembourg City. ECOVIS IFG AUDIT SA was founded by Arnaud Yamalian in November 2015. With a team of four professionals Arnaud provides tailor made audit services to clients in a reactive, flexible, equitable way.…
Leasehold Rip-Offs
13.10.2017 | The problem of onerous ground rents There has been much media concern in the UK recently over onerous ground rent provisions in long leases. Attention has focused on ground rents that are initially modest, but which double after a certain amount of time, and then double again, and again, till the end of the lease.…
Ecovis System Rewident in client’s defense
13.10.2017 | 
Ecovis System Rewident has been supporting their clients in many areas for a long time now. This time in the interests of our clients, our company has gone one step further. At the beginning of 2017, heads of tax offices gained greater powers in the area of registration and removal of entrepreneurs from the VAT…
Greece introduces CbC to counter BEPS
13.10.2017 | Law 4484/2017: Implementation in domestic legislation of EU Directive 2016/881 concerning mandatory automatic exchange of information by Country by Country Reporting (CbC) The new provisions of Greek CbC reporting as set forth in Law 4484/2017 and Circular 1131/2017 provide the following: The CbC report applies to multinational groups of entities (MNEs) headed or operating in…
Swiss pension reform 2020 rejected in a popular vote
13.10.2017 | The “pension reform 2020” and an additional increase in the VAT rates for pension funding purposes was rejected in a federal popular vote on September 24th, 2017. The reform package strived to preserve the benefits of old-age insurance (AHV) and pension funds (BVG) and to raise sufficient financing for them. The old-age, surviving dependents’ and…
Under strain – can housing prices and power prices derail the Australian economy?
13.10.2017 | Australia – Part one: This article will cover housing and the reactions of state and federal policy makers to the housing crisis. Under strain – can housing prices and power prices derail the Australian economy? With Australia about to overtake Qatar as the world’s largest exporter of gas, you would expect energy in Australia to…
Ecovis Malta adds Technology Advisory to its range of services
13.10.2017 | Ecovis Malta has announced the launch of Ecovis Technology Advisory, a range of services designed to help businesses raise the bar by leveraging the application of technology.
Denmark: Register the company’s real owners
13.10.2017 | You must register your company’s real owners. The management of a company must be in control of who are the company’s real owners and in how its real ownership consists. This information must be registered at www.virk.dk at the latest December 1st, 2017. Read more on www.ecovis.com/denmark…
Licensing of Fintech companies and Finance Institutions in single European market
06.09.2017 | Fintech companies, banks, payment service providers, electronic money institutions, insurance companies, investment funds and investment managers, securities and forex brokers, crowdfunding and peer-to-peer platforms, other finance institutions in Europe are subject to higher regulatory requirements. Licensing of the Finance Institution in one of the member states within the European Union (EU) opens business opportunities to…
More power to copyright owners in a digital world
08.08.2017 | In June 2017, the Court of Justice of the European Union (CJEU) delivered a long awaited judgment which is being widely celebrated by copyright owners throughout Europe. The Pirate Bay (TPB) is a well-known file-sharing platform that allows people to download illegal or, at the very least, unauthorised copyright-protected content. It is effectively a search…
Greater access to Chinese market
08.08.2017 | If you are a foreign investor in China, we have got good news for you. And if you are not, it is time to think about expanding. The new negative list allows foreign businesses greater access to Chinese market. Since 2010, China’s economy has been slowing1. In 2013, to turn the tide, China started testing…
Quo vadis, Switzerland?
08.08.2017 | Where are you heading, Switzerland, with your tax reform? The Swiss are being asked this question today, because in recent years Switzerland has come under intense pressure from OECD nations, the G20 and the European Union (EU) to abolish its special tax breaks for multinational firms, such as holding, domiciliary, principal and mixed companies. Following…
Logistics enterprise turns to Ecovis for support
08.08.2017 | Background During the 2017 financial year ECOVIS Clark Jacobs took on a client previously with a major global consulting firm. This client has operations in Australia, China, Hong Kong, New Zealand and the United States and their head office is in Australia. Issue Part of the brief for ECOVIS Clark Jacobs was to facilitate communications…
European banking heaven – Lithuania boosts efforts to improve licensing regulations for international finance institutions
24.07.2017 | Lithuanian authorities making further steps to turn Lithuania into one of the most attractive jurisdictions for banks and finance institutions in the European Union and European Economic Area (EU/EE). The largest Lithuanian business daily “Verslo žinios” investigated recent efforts of Lithuanian authorities on July 27, 2017. Lithuanian licensed Banks are allowed to offer all banking…
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