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Greece: International Tax, Audit, Accounting and Legal News
13.06.2019 | New law for strategic investments in Greece. Read more in our newsletter...
China’s Cryptocurrency
China’s Cryptocurrency and Blockchain Regulatory Environment
17.05.2019 | In China, transactions in cryptocurrencies are heavily regulated. Ashley Tian of Ecovis, Beijing, explains the limitations and effects in this article. Background Prior to 2017, China had the world’s largest cryptocurrency market – with 80% of bitcoin, the world’s leading digital coin.1 In July, 2018, the Central Bank of China stated that banning the domestic…
data analytics and audit
Data Analytics and the Evolving Audit
17.05.2019 | Big data is not only revolutionizing business strategies and product development but has also made its appearance in the auditing field. In order to be able to offer its clients an even higher standard of effective and efficient services, Marcum LLP has adopted the use of analytics tools in its auditing practices. An auditor has…
VAT law Turkey
Amendments to the Value Added Tax Law of Turkey Related to the Exchange Rate Difference
17.05.2019 | In recent years the Turkish tax authorities and courts have been in dispute as to whether exchange rate differences are subject to VAT. Now an amendment to the applicable law provides greater clarity. The influence of exchange rate differences on the financial performance of an economic unit is significant. Companies may have payables, debt claims…
VAT Turkey
VAT refund available on construction works in Turkey
17.05.2019 | VAT taxpayers can qualify for a VAT refund on their investment expenditures under article 13-d of the Value Added Tax Act No. 3065. The VAT refund is only applicable for machinery and equipment expenditure made under an investment incentive certificate for the manufacturing industry. Temporary Article 37 of the Value Added Tax Act No. 3065,…
tax evasion
Germany is putting pressure on dubious tax arrangements
17.05.2019 | In line with the EU directive on the obligation to report certain forms of fiscal cross-border transaction, Germany is also considering imposing such an obligation for purely domestic tax arrangements. On 25 June 2018, the EU Directive 2018/822 on the automatic exchange of information in the field of taxation with respect to notifiable cross-border transactions…
Data Science: How to harness the good of presidential elections in the boardroom
11.04.2019 | Elections have always been a numbers game, but in the last decade we have seen a seismic shift. It is now a data game, and there is no turning back. This revolution started in earnest with Obama’s 2012 re-election campaign and has since barrelled through US and global politics, leaving disrupted strategies and confused pollsters…
Particular care must be taken when paying dividends
11.04.2019 | Three recent decisions of the English courts show how dividends can create risks for UK companies, their directors and shareholders. First, the Court of Appeal confirmed in Global Corporate Ltd v Hale [2018] EWCA Civ 2618 what most suspected: unlawful dividends cannot be reclassified after the event as salary in order to render them lawful.…
How tax discrepancies can affect settlement applications in the UK
11.04.2019 | Hesham Shoeb, Employment & Immigration Associate at Barlow Robbins LLP (Ecovis UK), describes how tax information is being used to deny residence to highly skilled migrants in the UK. When it comes to applying to settle in the UK, some highly skilled migrants in the Tier 1 (General) category have been denied settlement on the…
Prevention of money laundering and the financing of terrorism in Uruguay
11.04.2019 | According to Law Nº 19.574, certain entities are bound to report unusual or suspicious operations to the Information and Financial Analysis Unit of the Central Bank of Uruguay (BCU) and must comply with and implement policies and procedures aimed at preventing money laundering and the financing of terrorism (from now on “money laundering risk”). In…
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