As part of the US tax reform (Tax Cuts & Jobs Act of 2017, or TCJA), the federal corporate tax rate was reduced from 35% to 21%. This sounds great, because this 21% rate can be further reduced to 13.125% according to the new rules for foreign derived intangible income (“FDII”)…
The UAE Government wants to protect their citizens from harmful goods. Since 1 December 2019, the UAE has imposed an excise duty of 100 percent on electronic smoking devices and liquids used in such devices and an excise tax of 50 percent on sweetened drinks. Other harmful products have been subject to excise duties since 2017.
Participants and parties to cross-border disputes, that is disputes of an international nature involving entities located within different jurisdictions, must choose the forum within which disputes are to take place. The choice of forum for resolving international disputes is either litigation or arbitration.
The Czech Data Protection Authority, which monitors compliance with European data protection regulations in the Czech Republic, publishes information online about its control activities, its decisions and their effects on companies.
With the US tax reform, the corporate tax rate was lowered to 21%. That sounds good, but what are the collateral issues for inbound investment?
It is a common misconception that where heads of terms are agreed upon, they do not give rise to a legally enforceable contract. There are numerous examples of where heads of terms may be agreed, but they are not intended by the parties to have legal effect. However, it would be incorrect to assume that this can never be the case. It all depends on what is agreed, the intention of the parties and whether what has been agreed is sufficiently certain to be legally enforceable.
The Peruvian tax authority, SUNAT, requires that legal entities and legal companies submit Ultime Beneficial Owner (UBO) information. Among other things, this is to prevent tax avoidance, money laundering and the financing of terrorism. This regulation also allows Peru to comply with its obligations concerning mutual administrative assistance in tax matters.
In December 2018, the Internal Revenue Service (IRS) revised and expanded Form 5471. The aim was to require additional reporting and also to encompass the compliance related to the new international tax provisions enacted as part of the Tax Cut and Jobs Act of 2017 (“TJIC”).
If customer data is processed, these processes are subject to various data protection laws and agreements between countries worldwide. But not all companies are familiar with the details that must be kept.
Article 13 of Turkish Value Added Tax Law No. 3065 provides VAT exemptions on certain goods and services. Consequently, the first delivery of a home or office shall be exempt from VAT for Turkish citizens abroad and non-resident real or legal persons.
The Maltese Government has introduced new rules for the calculation of VAT on the leasing of pleasure yachts. Ecovis Malta explain how the VAT is calculated correctly.
The Federal Court’s ground-breaking ruling against Chevron Australia Holdings Pty in 2017, encouraged the Australian Taxation Office (ATO) and the government to amend the law on thin capitalisation and transfer pricing and more actively pursue large multinationals. But even smaller companies which operate in Australia or wish to settle there, must prepare for the effects.
There are more than 100 foreign capital fintech companies in Lithuania. The reasons for this are an uncomplicated and fast licensing procedure, a generous regulatory environment and good infrastructure.
ECOVIS Wingrave Yeats recently registered as a non-US registered firm with the Public Company Accounting Oversight Board (PCAOB) in order to ensure that our UK audits meet the needs of all stakeholders in future.
This year has seen substantial changes in British immigration law, and there is more in the pipeline. In this article we examine the changes so far and explain their implications.
As global economics have prospered due to increasing cross-border trade and international business transactions, the US government has introduced new tax regulations governing how these transactions are accounted for.
In the western part of the world, China is notorious for manufacturing and selling counterfeit branded products. This raises the question of whether it makes any sense to register a trademark in a country like China.
ECOVIS BCA Lebanon is a newly-launched audit, tax and advisory firm headquartered in Beirut. The firm was officially launched in April 2019 by its three partners Tony Boutros, Bassam Cordahi and Rita Abou Kadah.
The Board of the Bank of Lithuania decided to issue the Electronic Money Institution (EMI) license for UAB Finansinės paslaugos „Contis“– part of UK based Contis Group securing groups access to the financial markets of continental Europe.
New law for strategic investments in Greece. Read more in our newsletter…
ECOVIS International is a new member of the Forum of Firms starting January 2019. The Forum of Firms is an independent association of international networks of firms that perform transnational audits.
Since the spring of 2017 Ecovis Hungary has operated several trending legal blogs for the public in Hungarian concerning different areas of law including mining, real estate, corporate, commercial, procurement law and the law of trusts.
FinTech startups and companies will soon be able in Lithuania to test their innovative products business solutions in a live environment with real customers while the Bank of Lithuania will provide them with consultations.
Ecovis Wingrave Yeats (London) has recently engaged with a company which is raising capital through an initial coin offering (ICO) which it will then invest in a basket of established and emerging cryptocurrencies with masternode infrastructure.
Why determining whether a prospective employee has the right to work in the UK could get much more complicated because of Brexit.
Internal Revenue Code Section 250 has been added to the Tax Cuts and Jobs Act of 2017 (the “TCJA”), creating a new preferential tax rate for income derived by domestic corporations serving foreign markets.
The energy regulatory framework of Romania has evolved over the past 20 years from a highly centralised model to an essentially customer-centric system, with extremely liquid power markets, gas exchanges in formation and complex financial products and analyses that start to resemble those of the financial world.
ECOVIS Lalkin Weiss is an Israeli boutique law firm founded in 2010 by Erez Lalkin and Erez Weiss.
Lithuania has become one of the first countries in the world responding to the impact of the cryptocurrencies on financial markets.
Settlements within a group of companies with a foreign connection must comply with the arm’s length principle and take place as between third parties, to avoid suspicion of tax evasion.
Founders need legal certainty if their businesses are based on cryptocurrencies or they use them for financing. Certainty exists if legislators clearly regulate the legal framework for cryptocurrencies, especially with regard to taxes.
The Russian VAT rate is very likely to rise from 18% to 20% starting from 2019. The respective draft law was introduced by the Russian government on June 15, 2018.
Ecovis has entered into successful co-operation with GIA, a business partner specialized in different projects designed to install systems of integrated supply management.
PTI is currently focused on expansion of infrastructure throughout Latin America, the Caribbean and the United States.
We welcome our new partners from ECOVIS Fintax headquartered in Manila, Makati City.
