News

GST Revision to 0% and SST replacement in near future in Malaysia
24.05.2018 | Sales Tax Act 1972 and Service Tax Act 1975 (collectively, “Sales and Service Tax Acts”) in Malaysia already being replaced by Good & Service Tax Act 2014. With the new cabinet to be formed very soon in the near future, we expect GST will be abolished and replaced by Sales and Service Tax (SST). Please…
Implementation of Two-tiered Profits Tax Rate Regime in Hong Kong
16.05.2018 | The Inland Revenue (Amendment) (No. 3) Ordinance 2018 (the Ordinance) was gazetted on 29 March 2018 to implement the two-tiered profits tax rates regime announced in the 2017 Policy Address. (Click here) It targets to help foster a favourable business environment, drive economic growth and enhance Hong Kong’s competitiveness by reducing the tax burden on…
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Ecovis has a new partner in Sweden
07.05.2018 | We are glad to welcome our new colleagues of ECOVIS RevisorCompaniet from Stockholm. In 2002 ECOVIS RevisorCompaniet was founded in Skellefteå, which lies in the province Västerbotten 800 kilometres north from Stockholm. Three more offices are spread around Västerbotten in the cities Malå, Sorsele and Bureå. In 2005 the Stockholm office was opened. Today ECOVIS…
Pan-European Crowdfunding platforms will provide their services across the whole EU
09.04.2018 | European Commission takes actions to promote Europe as a more attractive place for start-ups by introducing new regulations on crowdfunding. Commission has proposed a draft regulation to enable crowdfunding platforms to access customers across the EU. Read more on www.ecovis.com/lithuania…
USA: Global Intangible Low Taxed Income: A Step Away from Territorial
22.03.2018 | The Tax Cuts & Jobs Act of 2017 (the “Act”) has been widely touted by the American media as transforming the U.S. into a territorial system of taxation, in which domestic income is taxed by the U.S. and foreign income is not. While the Act moves the U.S. towards a territorial approach, it is not…
UK: The PSC Register and its implications
22.03.2018 | It has been almost two years since the introduction of the Persons with Significant Control Register (the “PSC Register”) in the UK, but it is quickly evident during due diligence exercises that not all directors have a clear understanding of their obligations. The PSC Register is designed to ensure the ownership of corporate bodies in…
Hungary: Real time invoicing reporting
22.03.2018 | As of 1st July, 2018, all invoices issued between Hungarian taxpayers with a VAT content exceeding HUF 100,000 (Hungarian Forint) must be reported in real time to the tax authority. The draft legislation and the technical requirements have already been published by the Ministry for National Economy/tax authority. However, the final regulation cannot be presented…
Czech Republic: The most important changes in Czech law for entrepreneurs
22.03.2018 | In 2018, a number of changes for entrepreneurs will come about. These will affect, for example, builders, the registration of beneficial owners of legal entities, and unified electronic identification. General Data Protection Regulation (GDPR) Similarly to other EU countries, what is known as the General Data Protection Regulation (GDPR) will also come into effect in…
Switzerland: New electronic notification system for exports and imports
22.03.2018 | From March 1, 2018, all businesses must notify the Swiss customs authority (EZV) of cross-border transactions of goods with Switzerland electronically. With regard to the export of goods from Switzerland: the Swiss VAT Law (SVATL) defines the place of delivery where the transport of the goods begins. Tax-exempt delivery therefore requires a correct export document.…
Ecovis welcomes our new partners from ECOVIS Audit Algeria headquartered in Algiers
14.03.2018 | ECOVIS Audit Algeria was founded in 2013. Abdallah Otsmane Riad is the managing partner of the firm. Together with his wife Addadahine Kawther, who acts as co-manager, they can rely on a team of 13 professionals and 2 administrative staff members.
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