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Director’s duties in Ireland

Director’s duties in Ireland - ECOVIS International
A recent Irish court case dealt with directors’ duties, holding non-executive directors personally liable in a case of corporate fraud, even though they had been unaware of that fraud. In Powers v Greymountain Management Limited (in Liquidation), Coates, Grainger, Cartu...
Capital gains tax Greece: Introduction of deferral for individuals and the contribution of shares - ECOVIS International

Capital gains tax Greece: Introduction of deferral for individuals and the contribution of shares

The recently enacted Law No. 5024/2023 is anticipated to offer a strong incentive for the establishment of holding companies in Greece. The law provides for a deferral of capital gains tax on securities transactions which meet certain conditions. At the...
DORA NIS2: New changes in the law should ensure more cyber security across the EU - ECOVIS International

DORA NIS2: New changes in the law should ensure more cyber security across the EU

On 10 November 2022, the European Parliament passed two legal acts: The EU’s Digital Operational Resilience Act (DORA) and the Directive on measures for a high common level of cybersecurity across the Union (NIS2). EU Member States should implement the...
VAT refund Vietnam: Update on the current process - ECOVIS International

VAT refund Vietnam: Update on the current process

On 14 April 2023, a change in VAT refund in Vietnam came into effect. There are new rules regulating which refunds are possible and which documents must be submitted. The Ecovis experts summarise the most important points on VAT refunds....
Malta corporate law: Malta transposes EU Mobility Directive - ECOVIS International

Malta corporate law: Malta transposes EU Mobility Directive

On 7 February 2023, Malta transposed Directive (EU) 2019/2121 on cross-border conversions, mergers and divisions, more commonly referred to as the Mobility Directive, into Maltese Law. The primary aim of the Mobility Directive is to provide a coherent and harmonised...
Buying property in Spain after Brexit: Real estate in the Canary Islands - ECOVIS International

Buying property in Spain after Brexit: Real estate in the Canary Islands

The Canary Islands is one of the most popular destinations in Spain for foreigners for buying a holiday or retirement home, or even a primary residence. After Brexit, the question often arises as to how the process has changed from...
Real estate France: New declaration to be filed by 30 June 2023 at the latest - ECOVIS International

Real estate France: New declaration to be filed by 30 June 2023 at the latest

Taxpayers must submit the occupancy declaration for residential premises by 30 June 2023 at the latest. If the deadline is missed, there is a penalty of EUR 150 per building. The new tax obligation applies to natural and legal persons....
Apostille China: How companies can legalise their certificates in China in the future - ECOVIS International

Apostille China: How companies can legalise their certificates in China in the future

From 8 November 2023, companies in China will be able to have documents that they want to use abroad certified faster and more easily. The Ecovis experts in Germany and China explain the details. Good news for companies. From the...
Selling my Business in China: Navigating Cross-Border Taxation and Unpacking US Tax Implications - ECOVIS International

Selling my Business in China: Navigating Cross-Border Taxation and Unpacking US Tax Implications

United States (US) corporations, in particular, have been actively investing in Chinese entities, leading to intricate tax implications when these companies decide to divest these assets. The US Tax Cuts and Jobs Act (TCJA) of 2017 profoundly changed these tax...
Tax Identification Number Vietnam: The New Payable Identification Number - ECOVIS International

Tax Identification Number Vietnam: The New Payable Identification Number

From 10 May 2023, taxpayers must use a fee-based identification number for all tax payments. This must be applied for with the tax authority and those who fail to comply must expect sanctions. The experts from ECOVIS AFA VIETNAM explain...
Tax policy in Vietnam: Extension of Payment Deadlines for Tax Payables and Land Leases in 2023 - ECOVIS International

Tax policy in Vietnam: Extension of Payment Deadlines for Tax Payables and Land Leases in 2023

The Vietnamese government has taken tax policy measures to relieve the economy after the Coronavirus pandemic. This includes a package of deadline extensions for tax payments and land leases. The decree came into force on 14 April 2023 and is...
UAE Corporate Tax 2023: Implementation of the Federal Corporate Tax - ECOVIS International

UAE Corporate Tax 2023: Implementation of the Federal Corporate Tax

The Corporate Tax Law will come into force in the United Arab Emirates on 1 June 2023. With this, the government is introducing new principles for the taxation of companies. The regulations comprise a tax rate of 9%. The Ecovis...
Digital Advertising Vietnam: Regulations on Cross-border and Digital Advertising Services - ECOVIS International

Digital Advertising Vietnam: Regulations on Cross-border and Digital Advertising Services

Decree No. 70/2021/ND-CP (the decree), which came into effect in Vietnam on 15 September 2021, regulates the provision of cross-border and digital advertising services. The aim is to prevent illegal content and misleading or unethical advertising practices by offshore advertising...
Treading a Fine Line: 2024 Budget Australia - ECOVIS International

Treading a Fine Line: 2024 Budget Australia

What does the recently announced federal budget mean for Australians? ECOVIS Clark Jacobs in Australia examines the key measures. On Tuesday May 9th, the Australian Government handed down the 2023/2024 budget. At the headline level the budget confirmed that for...
Personal Data Protection Vietnam: New Decree to Come into Full Force in July - ECOVIS International

Personal Data Protection Vietnam: New Decree to Come into Full Force in July

Decree No. 13/2023/ND-CP on personal data protection (PDPD) was issued on 17 April 2023. It comes into full force on 1 July 2023. From then on, all companies will have to comply with the regulations. However, the government has given...
ECOVIS Portugal provides corporate secretarial, domiciliation and directorship services to global investment entity - ECOVIS International

ECOVIS Portugal provides corporate secretarial, domiciliation and directorship services to global investment entity

Background Our client is a global investment company who manages and administers €424bn of assets on behalf of their clients. The company had 8 entities in Portugal for which they needed corporate secretarial services, domiciliation, and directorship services. This client...
M&A Netherlands: The promising way to sell a business to a listed company - ECOVIS International

M&A Netherlands: The promising way to sell a business to a listed company

For many owners of medium-sized companies this is the dream. There is a common feeling that selling to a big buyer with deep pockets is the easiest and most rewarding option. But appearances can be deceptive. The M&A experts at...
Business continuity consultant: Stay ahead and prepare for the worst - ECOVIS International

Business continuity consultant: Stay ahead and prepare for the worst

The past few years have shown that global crises can quickly bring companies into economically threatening situations. As a result, business continuity management (BCM) actively plans and prepares for crises such as fire, flood, and cyberattack to enable organisations to...
Financial crisis Lebanon: Little prospect of improvement with no government - ECOVIS International

Financial crisis Lebanon: Little prospect of improvement with no government

The Lebanese financial structure is disastrous. Although there are discussions to formalise capital control in an official law, the country remains in political standstill because there is still no functioning government. This also affects the budget for this year, which...
Transfer pricing Poland: Changes to reporting deadlines - ECOVIS International

Transfer pricing Poland: Changes to reporting deadlines

Poland has changed its transfer pricing reporting deadlines from the beginning of 2023. Businesses now have more time to prepare local transfer pricing documentation. The Ecovis experts know the details and the other changes. The changes are part of an...
Land-rich clause Italy: Impact on non-resident investors - ECOVIS International

Land-rich clause Italy: Impact on non-resident investors

Under Article 1 of the 2023 Italian Budget Law, which came into force on 1 January 2023, important changes have been introduced concerning the taxation of indirect transfers (through the transfer of participation) of Italian immovable property, in line with...
France: Updates to list of tax haven countries - ECOVIS International

France: Updates to list of tax haven countries

On 5 February 2023, the French government expanded the list of non-cooperative states in tax matters. The French blacklist was amended by a decree published in the French Official Journal, with the Bahamas and the Turks and Caicos Islands added...
ECOVIS International Sanctions Webinar - ECOVIS International

ECOVIS International Sanctions Webinar

In response to the Russian invasion of Ukraine in 2022, the United States and the EU have sought to curb the aggression through a number of economic sanctions, thus forcing global entities to grapple with an increasingly complex regulatory regime....
Ordering rules for distributions from US corporations to foreign shareholders - ECOVIS International

Ordering rules for distributions from US corporations to foreign shareholders

Foreign owners of US corporations seek to repatriate cash from the US entity in the most tax efficient manner possible. Owners of such companies must remember US ordering rules when it comes to determining the US income tax consequences of...
Foreign invested enterprises in China: Guide to annual compliance procedures - ECOVIS International

Foreign invested enterprises in China: Guide to annual compliance procedures

Foreign invested enterprises (FIEs) in China are required by law to submit an annual compliance report, which includes the annual audit report and annual tax reconciliation. Failure to comply with these requirements could lead to severe consequences, such as the...
Digital nomads Spain: New law facilitates working in Spain - ECOVIS International

Digital nomads Spain: New law facilitates working in Spain

As of 1 January 2023, homeworking employees from non-EU countries can also work for their company from Spain. This has been made possible by a new law on digital nomads passed by the Spanish parliament. Spain is known for its...
Webinar: Beyond ESG Compliance: Leveraging CSRD Reporting for Business Growth - ECOVIS International

Webinar: Beyond ESG Compliance: Leveraging CSRD Reporting for Business Growth

Ecovis ProventusLaw, in collaboration with Ecovis Germany and the German-Baltic Chamber of Commerce in Estonia, Latvia, and Lithuania (AHK), is hosting a webinar that will delve into the new reporting requirements under the Corporate Sustainability Reporting Directive (CSRD) and how...
Duty exemption and international money transfer: Businesses must be aware of changes in Vietnam - ECOVIS International

Duty exemption and international money transfer: Businesses must be aware of changes in Vietnam

From 15 February 2023, materials that can be used to manufacture information technology products are exempt from import duties in Vietnam. Another change also came into effect on this date regulating the unilateral transfer of funds from Vietnam abroad. The...
Brazilian transfer pricing rules: Closer to OECD guidelines - ECOVIS International

Brazilian transfer pricing rules: Closer to OECD guidelines

Brazil is changing transfer pricing rules to allow for joining the OECD. The new rules foresee the adoption of methods and the definition of related parties to align Brazilian regulations with international standards. The proposed legislation must be approved and...
ECOVIS STLex with ETS Global in European business development - ECOVIS International

ECOVIS STLex with ETS Global in European business development

Educational Testing Service (ETS) is a non-profit organization founded in 1947 in the United States. In 2001, ETS set up its European headquarters in the Netherlands in order to promote ETS testing, build and strengthen relationships with education and assessment...
Tax return in Honduras: Everything you need to know - ECOVIS International

Tax return in Honduras: Everything you need to know

In Honduras, tax filing is a mandatory process for all individuals and legal entities that generate income. In this article, we will explain everything you need to know to comply with this tax obligation. Who is required to declare taxes...
Setting up a Business in India for Foreign Companies - ECOVIS International

Setting up a Business in India for Foreign Companies

Preamble Given India’s rapidly growing market, the country’s investment potential has enticed a slew of foreign companies to establish their presence in India. Over the last few years, initiatives have been taken to ensure that establishing a business in India...
SPACs and key considerations for audit and financial reporting - ECOVIS International

SPACs and key considerations for audit and financial reporting

Although special purpose acquisition companies or SPACS have been around for decades, the last 3 years have become more popular as they have proven to be a good opportunity for private companies to enter the public market, mainly in the...
Canary Islands: The best Tax System in Europe - ECOVIS International

Canary Islands: The best Tax System in Europe

Various motives make the Canaries a destination not to be overlooked. Their constant mild temperatures all year round, astonishing nature, rich history and mixed culture, excellent infrastructures and frequent connections by air and sea to all the main international ports...
The due date is approaching for the “BE-12 Benchmark Survey”: Foreign Direct Investment in the United States - ECOVIS International

The due date is approaching for the “BE-12 Benchmark Survey”: Foreign Direct Investment in the United States

All entities subject to the reporting requirements established by the Bureau of Economic Analysis (BEA) must file the annual BE-12 survey for benchmarking, which covers all fiscal years ended in 2022, no later than May 31, 2023 if paper filing,...
Personal Income Tax Vietnam: Updates on Documents Proving Qualified Tax Dependents - ECOVIS International

Personal Income Tax Vietnam: Updates on Documents Proving Qualified Tax Dependents

On 1 January 2023 an updated policy came into force in Vietnam, outlining the documentation required for taxpayers to prove the legitimacy of their declared dependents. Circular No. 79/2022/TT-BTC amends Point g Clause 1 Article 9 of Circular No. 111/2013/TT-BTC,...
VAT Vietnam: The reduction according to Decree No. 15/2022/ND-CP has ended - ECOVIS International

VAT Vietnam: The reduction according to Decree No. 15/2022/ND-CP has ended

Decree No. 15/2022/ND-CP (Decree 15), which last year reduced the VAT rate from 10% down to 8% for certain goods and services in Vietnam, expired on 31 December 2022. This means that, from 1 January 2023, the VAT has returned...
Corruption? Not in my business! - ECOVIS International

Corruption? Not in my business!

In recent years there have been an increased number of cases regarding business people and celebrities finding themselves in trouble due to financial crimes or corruption. You can frequently find examples in the news, and tycoons or individuals from the...
Employment Act Malaysia: Amendment in 2022 - ECOVIS International

Employment Act Malaysia: Amendment in 2022

The Employment Act (Amendment) 2022 came into effect on 1 January 2023. This Amendment Act seeks to introduce a number of important changes to the previous act - Employment Act 1955 (EA 1955) - and is aimed at benefiting both...
An Employee Share Option: An effective way to retain the employee. Legal regulation and taxation in different EU countries. - ECOVIS International

An Employee Share Option: An effective way to retain the employee. Legal regulation and taxation in different EU countries.

Share options are rising as a popular way to incentivise and reward employees. This is noticed not only among start-ups but also among companies operating in other fields. Moreover, businesses around the world are also looking for financial incentives related...
IRS Form 8833: Taxpayers must disclose treaty positions - ECOVIS International

IRS Form 8833: Taxpayers must disclose treaty positions

Many taxpayers with US income tax filing requirements rely on bilateral income tax treaties between the US and other countries to reduce their US tax exposure. (more…)
Ownership structure of real estate companies in Poland: New tax reporting obligations - ECOVIS International

Ownership structure of real estate companies in Poland: New tax reporting obligations

The obligation to report the ownership structures of real estate companies to the tax authorities was already introduced at the beginning of 2022. Companies must now take urgent action, as March 31 is the deadline for filing information for 2022....
Law on Companies Lithuania: Parliament adopts new regulations - ECOVIS International

Law on Companies Lithuania: Parliament adopts new regulations

The Parliament of the Republic of Lithuania has adopted amendments to the Law on Companies which are expected to improve conditions for business growth and to attract more investment into the country. The Ecovis experts explain the details. (more…)
Tax changes in Vietnam - ECOVIS International

Tax changes in Vietnam

The Vietnamese government has amended some articles of Decree No. 91/2022/ND-CP (Decree 91), made additions to corporate tax or income tax, and changed rules for online trading. Companies must comply with the new rules from when Decree 91 came into...
Relocation services Serbia: Ecovis provides full-scale services when moving to Serbia - ECOVIS International

Relocation services Serbia: Ecovis provides full-scale services when moving to Serbia

The new Serbian government is continuing the policy of attracting foreign direct investments (FDI). Regulation on providing residence permits with start-up, talent and investor visas in Serbia was already introduced in early 2020. Its primary goal is to provide greater...
Companies House public register: The UK demands more information from its corporate entities - ECOVIS International

Companies House public register: The UK demands more information from its corporate entities

The UK Economic Crime and Corporate Transparency Bill should receive Royal Assent (that is, become law in the UK) this spring. The new law gives Companies House more investigation and enforcement powers over companies which report incorrect information to the...
Investing in the Cambodian agricultural sector - ECOVIS International

Investing in the Cambodian agricultural sector

Ecovis in Cambodia has recently been working with two agricultural companies. The intention is to set up cashew nut wholesale organisations with processing capabilities that will allow small producers to join forces to meet sales and profit goals. They also...
Tax exemption for non-resident dependents - ECOVIS International

Tax exemption for non-resident dependents

The Japanese government has changed the tax laws exempting non-resident dependents from tax. The law came into force on 1 January 2023. The Ecovis experts explain the details. Background Taxpayers in Japan are allowed to make a deduction for non-resident...
Supporting Hydroline Oy in establishing a company and expanding in Poland - ECOVIS International

Supporting Hydroline Oy in establishing a company and expanding in Poland

Hydroline Oy is a leading manufacturer of world-class heavy-duty hydraulic cylinders. The company started as family business in 1962 in Vuorela, Finland.  Hydroline Oy’s customers include the most renowned machine and device manufacturers in mining, construction, agriculture, maintenance, load handling, forestry, hoisting, recycling,...
Company formation in Germany: Establishing a limited liability company online - ECOVIS International

Company formation in Germany: Establishing a limited liability company online

In August 2022 it became possible to obtain an online appointment with a notary to establish a limited liability company (in German: GmbH). For foreign companies, for example from China, this brings numerous advantages. The Ecovis experts know how online...
Moldova France tax treaty: New partnership starting soon - ECOVIS International

Moldova France tax treaty: New partnership starting soon

On 15 June 2022, France and Moldova signed a tax treaty. The treaty will come into effect once the legislative processes for approval and ratification in both countries have been finished. This eliminates double taxation for companies and individuals doing...
Modern U.S. Treaties: Taxpayers Must Meet the Limitation on Benefits Articles - ECOVIS International

Modern U.S. Treaties: Taxpayers Must Meet the Limitation on Benefits Articles

Generally, tax treaties between two countries provide lower withholding tax rates on income generated by persons of one country in another country. The withholding tax rates provided by a tax treaty may differ on case-by-case basis depending on the parties...
Progress in diversity in consulting - ECOVIS International

Progress in diversity in consulting

Mixed teams have been proven to work more efficiently, not only in management consulting profession but also in other professions. It brings together different experiences and skill sets, a greater range in brainstorming, or a better understanding of cultural nuances:...
eID accounts Vietnam: Regulations on electronic identification and authentication - ECOVIS International

eID accounts Vietnam: Regulations on electronic identification and authentication

The Vietnamese government has published Decree 59/2022/ND-CP. It contains regulations on electronic identification, authentication and the synchronisation of personal information, biometric data and company information in the electronic identification application. (more…)
Usufruct tax implications for US taxpayers - ECOVIS International

Usufruct tax implications for US taxpayers

While usufructs are a valuable succession-planning tool in Latin America, they may result in undesirable tax consequences when involving US persons. Therefore, proper planning should be done for usufruct structures involving US beneficiaries. (more…)
Remote work Poland: changes in employment law - ECOVIS International

Remote work Poland: changes in employment law

One of the most important changes to employment law in Poland in 2023 will be the formal regulation of remote work. Companies that allow their employees to work from home should adapt their employment contracts and work regulations accordingly. The...
How to invest in Spain: New law makes it easier and more economic - ECOVIS International

How to invest in Spain: New law makes it easier and more economic

There are several possibilities for companies wanting to invest in Spain. They can simply register in Spain for tax and employment purposes, open a branch office (without its own legal personality) or incorporate a company. Thanks to a new law,...
Malta Startup Residence Programme – An opportunity for budding entrepreneurs - ECOVIS International

Malta Startup Residence Programme – An opportunity for budding entrepreneurs

The Maltese government has launched the “Malta Startup Residence Programme”. Under the programme, non-EU citizens will receive improved start-up conditions, such as a residence permit for up to eight years, if they do business and pay taxes in Malta. The...
Transfer pricing Greece and other amendments to the Greek tax legal framework - ECOVIS International

Transfer pricing Greece and other amendments to the Greek tax legal framework

The Greek government is to introduce several changes to the tax framework. This includes, for example, relief from double taxation for intercompany transactions subject to transfer pricing rules or the enforcement of stamp duty obligation. The Ecovis experts explain the...
Certificate of incapacity for work (eAU): From January 2023, sick notes in Germany go digital - ECOVIS International

Certificate of incapacity for work (eAU): From January 2023, sick notes in Germany go digital

The electronic certificate of incapacity for work (eAU) is expected to become mandatory from January 2023. Companies should prepare for this and change their processes. (more…)
Posted workers in the EU: Employees from Croatia - ECOVIS International

Posted workers in the EU: Employees from Croatia

Companies from the other EU Member States wishing to use the services of a worker employed in Croatia must be aware of specific requirements and regulations, for example the duration of the posting. (more…)
Starting a Business in Australia - ECOVIS International

Starting a Business in Australia

Case Study Background Danish Co is a Significant Global Entity (SGE) with extensive experience in the mature European energy trading market and was seeking to expand into the younger Australian market and the opportunities this presented. Ecovis Sydney was contacted...
E-Invoices in Vietnam: E-Invoices Generated from Cash Registers - ECOVIS International

E-Invoices in Vietnam: E-Invoices Generated from Cash Registers

Enterprises, business households, or business individuals who provide goods or services directly to consumers are allowed to use e-invoices issued from Point of Sale (POS) cash registers (Clause 2, Article 8 of Circular 78/2021/TT-BTC). This covers business models such as...
Vietnam cybersecurity law: Data localisation requirement for digital service providers - ECOVIS International

Vietnam cybersecurity law: Data localisation requirement for digital service providers

The Vietnamese government has clarified certain articles of the Cybersecurity Law 2018. This includes, for example, which data is subject to the localisation obligation, or in which cases a branch office is to be established. Decree no. 53/2022/ND-CP (the “Decree”)...
EU Whistleblower Protection Directive in Lithuania: The most common mistakes in practice - ECOVIS International

EU Whistleblower Protection Directive in Lithuania: The most common mistakes in practice

Encouraging employees to report wrongdoing and protecting them when they do, is essential for preventing corruption in both the public and private sectors. ECOVIS ProventusLaw provides a review of the most common difficulties facing companies and mistakes related to the...
Corporate Transparency Act final regulations: More compliance for businesses - ECOVIS International

Corporate Transparency Act final regulations: More compliance for businesses

The regulations of the Corporate Transparency Act (CTA) require certain entities to file reports with the Financial Crimes Enforcement Network (FinCEN) that identify two categories of individuals: the beneficial owners of the entity, and individuals who have filed an application...
Purchasing property in Spain: Checklists are essential - ECOVIS International

Purchasing property in Spain: Checklists are essential

Real estate regulations in Spain are complex, not only at the national level, but also at the regional and municipal level. When it comes to investments, there are a large number of legal details which must be observed. The Ecovis...
An Exception to the Mirror Image - ECOVIS International

An Exception to the Mirror Image

Income on One Side of a Debt Transaction Does Not Always Produce Loss on the Other A mirror image is usually reflected in the tax impacts for the two parties to a debt instrument transaction. When the holder recognizes interest...
Entities holding foreign securities (ETVE) in Spain - ECOVIS International

Entities holding foreign securities (ETVE) in Spain

An opportunity to fiscally optimize the multinationals investments. ETVEs (“entities holding foreign securities”) were created in Spain in 1995 as another way to attract foreign investment, specifically to promote the establishment in Spain of holding entities which, based on the...
Transformation of payroll management services in Mexico - ECOVIS International

Transformation of payroll management services in Mexico

Recent changes in Mexican Labor and Tax Laws, related to the restrictions in engagement of personnel services (outsourcing banning) entitles an important business opportunity for consultancy Firms, since there are a lot of companies currently looking for support in implementation...
The “Great Resignation” – What do the workers want? - ECOVIS International

The “Great Resignation” – What do the workers want?

I wonder if you might have heard about “The Great Resignation”. This phenomenon apparently has happened because of the pandemic by covid-19 and it is about the massive quitting by workers around the world.  I hope this newsletter might show...
M&A transaction with Belgian parent company to an company in Hungary with US subsidiary - ECOVIS International

M&A transaction with Belgian parent company to an company in Hungary with US subsidiary

Background We were contacted by an in-house attorney of a multi-national company based in Belgium regarding corporate/M&A legal services in the United States. The client provides technology solutions for a variety of applications, including energy storage and testing, automated systems,...
The Information Lab – A Cross-Border Case Study - ECOVIS International

The Information Lab – A Cross-Border Case Study

The Information Lab is market leading supplier of software licences and provider of consultancy and support services for its software. The company has grown over the last five years organically and by acquisition and now has a presence in the...
M&A Asia: A practical view on issues for multi-country acquisitions - ECOVIS International

M&A Asia: A practical view on issues for multi-country acquisitions

Companies can generate growth by acquiring other companies. The Ecovis experts explain which legal and tax aspects must be considered in M&A and how to use data rooms correctly. (more…)
Personal data protection act Thailand: Exemption for SMEs - ECOVIS International

Personal data protection act Thailand: Exemption for SMEs

The Thai Personal Data Protection Act B.E. 2562 (PDPA) came into effect on 1 June 2022. Small businesses are exempt from implementing the data protection act. This is regulated in one of four organic acts, or “notifications”, issued by the...
Work life balance in Europe: Malta implements EU directive - ECOVIS International

Work life balance in Europe: Malta implements EU directive

Under new legislation, Maltese workers now benefit from paternity, parental and care leave. With the law, the government is implementing the EU directive on the compatibility of work and family, which was passed in 2019. The law came into effect...
Double taxation agreement Greece: New tax treaty with France - ECOVIS International

Double taxation agreement Greece: New tax treaty with France

On 11 May 2022, France and Greece signed a new tax treaty. If both countries complete the ratification process before 31 December 2022, the new agreement will apply from 1 January 2023. The double taxation treaty with Greece replaces the...
Croatian currency kuna to euro: Companies must start the changeover now - ECOVIS International

Croatian currency kuna to euro: Companies must start the changeover now

Croatia will introduce the euro on 1 January 2023. Companies must already declare both currencies, for example on payslips. The Ecovis experts know what bosses must consider. (more…)
Government measures to end exchange rate volatility in Turkiye - ECOVIS International

Government measures to end exchange rate volatility in Turkiye

The Turkish government is seeking a way to end exchange rate volatility. As a result, a new package was announced on 21 December 2021 which promises significant tax advantages. Natural persons and corporations are able to benefit from this regulation....
Tax on Vietnam Cross Border E-Commerce Activities - ECOVIS International

Tax on Vietnam Cross Border E-Commerce Activities

In recent years, due to the progess in technology, Vietnam has become a leading market for foreign investors in the field of e-commerce. The country is now passing and amending regulations regarding tax obligations for e-commerce activities, particularly concerning cross-border...
German supply chain due diligence act: EU Directive and German law in comparison - ECOVIS International

German supply chain due diligence act: EU Directive and German law in comparison

In future, large companies in Germany will have to carry out a careful risk analysis to determine whether violations of human rights or environmental standards have occurred in the past or are to be expected in the future. This is...
Forecasting as a planning tool: Using new decision-making tools - ECOVIS International

Forecasting as a planning tool: Using new decision-making tools

Forecasts help leaders to make business decisions quickly and with foresight. The Ecovis experts know how companies can use this management tool effectively. (more…)
Foreign Documents: Consular Legalization Vietnam - ECOVIS International

Foreign Documents: Consular Legalization Vietnam

In recent years, Vietnam has developed and optimized policies to support and therefore attract more foreign investors. One important procedure that foreign investors need to perform when planning to invest in Vietnam is the consular legalization of foreign documents. 1....
M&A Poland: Interesting perspectives for companies willing to buy - ECOVIS International

M&A Poland: Interesting perspectives for companies willing to buy

M&A activity has entered a new, exceptional period. In Poland, the economic crisis is just beginning, with inflation now exceeding 14% (the European average is 9%) and the slowdown in economic growth is noticeable, with even the threat of stagflation....
Vietnam Minimum Wage: Updated Salary Policy - ECOVIS International

Vietnam Minimum Wage: Updated Salary Policy

Statutory Minimum Wage per Month There has been an increase of the statutory minimum wage per month in Vietnam [1]. On 12 June 2022, the Government issued a new order (Decree 38/2022/ND-CP) prescribing statutory minimum wages paid to employees working...
Tax Incentives in Vietnam for Software Services and Software Products - ECOVIS International

Tax Incentives in Vietnam for Software Services and Software Products

The world is witnessing the booming transformation into the digitalization era, in which software production has become increasingly more important. In Vietnam, this industry has experienced considerable growth, almost doubling in the number of software businesses over the last five...
The four most relevant pillars for good corporate governance - ECOVIS International

The four most relevant pillars for good corporate governance

Hand in hand with globalization, the concept of Corporate Governance has been implemented in an accelerated manner, understanding that it is undoubtedly a tool for competitiveness, where the objective is to ensure the proper management and administration of companies, protect...
What is inflation? - ECOVIS International

What is inflation?

Inflation and deflation are economics terms used to describe an increase or decrease in the value of money, relative to the amount of goods and services that money can buy. Financially, inflation is the reduction in the value of the...
Business Valuations - ECOVIS International

Business Valuations

A business valuation is the process of determining the economic value of an enterprise, giving business or potential owners an objective estimate of the value of a business. Business valuations are not an exact science and valuation experts must exercise...
E-invoicing in Guatemala: Companies must act now - ECOVIS International

E-invoicing in Guatemala: Companies must act now

From 1 January 2023, companies in Guatemala will only be able to issue e-invoices. This is the only way tax documents may be issued from this date. (more…)
OIB Croatia: Prerequisite for doing business in Croatia - ECOVIS International

OIB Croatia: Prerequisite for doing business in Croatia

Croatia is introducing a personal identification number, called OIB (Croatian: Osobni identifikacijski broj). It is allocated free of charge by the authorities. It is a prerequisite for starting business activities in Croatia. (more…)
US corporate tax rate increase: What companies must expect in the future - ECOVIS International

US corporate tax rate increase: What companies must expect in the future

On 28 March 2022, the US Treasury Department issued “General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals.” This is President Biden’s second “Green Book” detailing the administration’s tax policy proposals. The most important proposal for companies is the...
Malaysia Digital Economy Corporation: SME Digitalisation Grant available - ECOVIS International

Malaysia Digital Economy Corporation: SME Digitalisation Grant available

Companies in Malaysia can receive a government subsidy of 50 percent, up to a maximum of MYR 5,000, to digitalise their business processes. Interested companies can apply until 17 February 2025. The experts at Ecovis in Kuala Lumpur know who...
International sanctions on Russia and Belarus: Legal requirements and risk management - ECOVIS International

International sanctions on Russia and Belarus: Legal requirements and risk management

The obligations imposed by the European Union’s (EU) restrictive measures (sanctions) are binding for EU nationals or persons located in or doing business in the EU. Fines may be imposed by EU Member States for non-compliance or breaches. (more…)
Polish employment law termination: Stricter requirements - ECOVIS International

Polish employment law termination: Stricter requirements

Polish employment law is being changed. With the new law, the legislator wants to eliminate unequal treatment when terminating fixed-term employment contracts compared to permanent contracts. The Ecovis experts know what companies must consider in the future. (more…)
China’s new market entity regulation: What companies need to know - ECOVIS International

China’s new market entity regulation: What companies need to know

Following the introduction of the new civil law at the beginning of 2022, a new regulation concerning market entities has recently come into effect. It will simplify different administrative processes for market entity registration. Although it primarily concerns Chinese companies,...
New compliance regulations in Spain: Multinational companies need to adapt their corporate policies - ECOVIS International

New compliance regulations in Spain: Multinational companies need to adapt their corporate policies

European and national regulations mean that companies in Spain must prepare to implement numerous procedures in various departments, i.e. human resources or facilities management. (more…)
E-invoicing Vietnam: Companies only have a few more days to register - ECOVIS International

E-invoicing Vietnam: Companies only have a few more days to register

From 1 July 2022, all companies in Vietnam will be required to use e-invoices (Tax Administration Law No. 38/2019/QH14). The mandatory introduction of e-invoicing is one of the most important parts of the digital transformation. Therefore, the Vietnamese government has...
Country-by-country reporting France: List of countries with agreements updated - ECOVIS International

Country-by-country reporting France: List of countries with agreements updated

France has updated the list of countries that have concluded an agreement on the exchange of country-by-country reporting (CbCR). Companies that do not submit this declaration must expect a fine of EUR 100,000. However, there are exceptions. The Ecovis experts...
PFIC rules: US passive foreign investment company rules - ECOVIS International

PFIC rules: US passive foreign investment company rules

Many taxpayers are surprised to learn that they are investors in a passive foreign investment company and that this can have negative tax consequences. The experts from Marcum LLP* can provide a detailed analysis of a taxpayer’s PFIC exposure, US...