Skip to content
Ecovis country websites
Bosnia and Herzegovina
United Arab Emirates
International tax, audit, accounting and legal news
Asia Pacific news
Subscribe to our newsletter
Management and Supervisory Board
International Service Offerings
Global Compliance Services
Global Company Setup
International tax, audit, accounting and legal news
Asia Pacific news
Subscribe to our newsletter
Management and Supervisory Board
International Service Offerings
Global Compliance Services
Global Company Setup
Investing in the Philippines
The effort of the Philippines to improve its infrastructure is now in completion phase under the Build, Build, Build (BBB) Program launched in 2017. This program aims to construct major railways, industrial parks and airports. Other projects include construction of...
Thinking of Moving to the Cloud? What you Need to Know.
The Cloud Revolution comes to Sydney If you have been following our LinkedIn page, you might have seen an announcement we were tagged in from a company called Greatsoft, which announced the successful migration of our practice systems from desktop...
Ecovis is now represented in Tajikistan
Ecovis welcome its new partners from ECOVIS Tajikistan headquartered in Dushanbe. ECOVIS Tajikistan was founded in January 2005 as Asian Business Group LLC. Since April 2011 they represented BDO International in their country. In November 2020 the firm signed membership...
New Government Measures Against COVID-19 and its Consequences in Greece
On Saturday 7 November 2020, the Greek Government announced a three-week national lockdown after a sharp increase in the COVID-19 infection rate. Employment and tax measures have been implemented to cushion the financial impact on companies. (more…)
Latest Tax Regulations in Turkey
Turkey is struggling with massive tax revenue shortfalls. The government has taken measures to stabilise the situation. So taxes on consumer goods are being increased and measures are being taken to present Turkey as an attractive market for the post-pandemic...
Preparing for Brexit: Our Guide Shows What Companies Should Do
From 1 January 2021, new rules will apply for companies in the UK as a result of Brexit. To familiarise companies with these new rules, Ecovis UK has developed the business guide “Preparing for Brexit”. The guide covers specific information...
Holding Company Regime Regulations in Colombia (CHC Regime)
In Colombia, laws 1943 of 2018 and 2010 of 2019 modified the Tax Statute and introduced the Colombian Holding Companies (CHC) Regime to domestic regulations. This provides tax advantages which could also be interesting for foreign investors. (more…)
Non-Resident Aliens, Beware! Your US ITIN May be Set to Expire
Non-resident aliens in the United States benefit from tax breaks. To be able to submit a tax return, a federal Individual Taxpayer Identification Number (ITIN) is necessary. This ITIN could expire on 31 December 2020. What should those affected do...
Czech Real Estate Transfer Tax Abolished for Transfers Registered from 1 December 2019
The Czech real estate transfer tax (RETT) was abolished in September 2020 to support Czech taxpayers as a response to the COVID-19 crisis. The abolition applies retrospectively to all real estate transfers registered since 1 December 2019. RETT that has...
Returning to work during CV-19: What should firms be thinking about?
Get advice from ECOVIS international experts. What are the key issues you, as a business owner, need to be thinking about as we move into the next phase of the Covid-19 pandemic? From monitoring cash flow to keep your company...
Ecovis is now also offering audit services in Vietnam
We are glad to announce that our network now also offers audit services in Vietnam to our clients. We would like to send a warm welcome to our new partners from ECOVIS AFA Vietnam headquartered in Danang. Danang is the...
VAT on foreign services rendered
Those who provide services from abroad to residents in Colombia, as a general rule, will have the legal obligation to register with the Colombian tax authority as "service providers from abroad", in addition to passing on and collecting VAT on...
Audit considerations during Covid-19
Recently the IFAC (International Federation of Accountants), International Federation of Accountants in Spanish, issued certain considerations related to the safe audit of financial statements in times of Covid-19. These are situations that matter to the auditors but also to those...
IRC 59A Final Regulations Say “BEAT IT” to the Confusion
On 22 December 2017, the Tax Cuts and Jobs Act (TCJA) codified IRC § 59A (Base Erosion and Anti-Abuse Tax, BEAT). This applied a tax on multinational corporations shifting profits abroad through related party transactions which create US deductible payments...
Mexico Tax Reform 2021
For the Tax Reform of the 2021 fiscal year, the Executive presented on September 8, 2020, to the Congress of the Union, the respective Economic Package, which includes proposals for the fiscal Miscellaneous regarding the Income Tax Law (LISR ),...
Presidential Elections, Tax Chaos
The upcoming U.S. election on November 3 will not only seat a President for the next four years, it will also establish which party controls both houses of the U.S. Congress, and with control, the ability of the President and...
Government Support for the Aviation Industry in Ukraine Due to COVID-19
COVID-19 has significantly affected the Ukrainian aviation market and all the industries directly supported by aviation globally. Without financial support from the government, Ukrainian aviation will find it hard to survive. Ecovis' experts can advise aviation-dependent companies on various matters...
The Impact of Schrems II and Brexit: The Transfer of Personal Data Overseas in Crisis
Transferring personal data between jurisdictions has always been big business. In Europe, the General Data Protection Regulation provides a number of mechanisms to allow data exports overseas. The end of the Privacy Shield, Schrems II and Brexit will make it...
Apprenticeship in France: Exceptional Financial Aid to Employers Who Recruit Young Apprentices
As part of the “#1jeune1solution” plan, the government is setting up exceptional aid for the recruitment of apprentices up to master’s level for all companies (decree no. 2020-1084 of 24 August 2020). Assistance will be paid for contracts signed between...
Renewable Energy in Romania: PPA available, CfD in the Pipeline, Implementation to Follow
In the context of multiannual EU and government funding plans, Romania has committed to further achieving ambitious targets in developing renewable energy production. The current support scheme based on green certificates has stabilised after significant fluctuations and is currently viable....
Big Data Audit: Digital Transformation of the Audit Process at Ecovis in Colombia
ECOVIS Colombia has developed a machine learning model that identifies deviations or atypical behaviours in clients’ transactions. This implementation optimises the auditing and consulting processes and allows clients to react more quickly when anomalies are detected. (more…)
Invest in Uruguay: Increase in Tax Benefits for Investment Projects
The Uruguayan government recently approved an increase in the tax benefits granted through the Investment Law (Law 16.906). Under this law, taxpayers could qualify for significant tax exemptions by submitting an investment project that is declared by the executive powers...
Ecovis is now offering legal services in Argentina
Beside our existing partners ECOVIS ARGENTINA RAMOGNINO, de ALBALADEJO & ASOCIADOS our network now also offers legal services to our clients. We would like to send a warm welcome to our new partners from Estudio Peebles - Member of ECOVIS...
Government Assistance for Small and Medium Enterprises in the COVID-19 Recovery Period
Ecovis in Shanghai The Chinese Government has implemented various measures to help small and medium-sized enterprises (SMEs) during the Coronavirus pandemic, including tax, social security, financial, scientific and technological support. The main preferential policies available to SMEs are outlined below....
India Announces Package for Micro, Small & Medium Enterprises During COVID-19
The Indian Government has announced a package of US$2680 billion—20 lakh crore rupees, which equates to approximately 10% of Gross Domestic Product (GDP)—for the country's struggling economy due to the Coronavirus epidemic. The relief was announced for various sectors, one...
Malaysia becomes the second country to implement Digital Service TAX in Southeast Asia
In 2015, Malaysia joined the ranks of 160 countries around the globe who had implemented a Goods and Services Tax (GST) / Value Added Tax (VAT). Seventeen months later, Malaysia was the first country to revert to Sales and Services...
COVID-19: Support for small and medium enterprises in Singapore
As a result of the ongoing COVID-19 situation, the Singapore Government has announced various support schemes in the 2020 Budget to assist Small and Medium Enterprises (SMEs) through this crisis. This comprises the ‘Unity Budget’ announced on 18 February 2020,...
Can India Influence Post-Covid-19 World Order? – Current Opportunities In India
Ecovis in Mumbai “Tat Tvam Asi” (meaning Thou art that, That thou art, That art thou, You are that, or That you are) is the powerful message in Hinduism of peaceful co-existence, a message which challenged the entire world in the...
Hong Kong Economic Update: Will the National Security Law help or hinder foreign investment?
Ecovis in Hong Kong After one year of pro-democracy protest activities in Hong Kong, the Central Government of the People’s Republic of China seems to have run out of patience with Hong Kong protesters. The Chinese Government surprisingly introduced the...
Australian Economic Update: Economic Downturn and Government Response
Ecovis in Sydney It seems a lifetime ago since Ecovis delegates from around the globe gathered together in Sydney for the annual International Partners’ Meeting, held in November 2019. Over Christmas and into the new year, large parts of Australia...
Days without VAT in Colombia
On 27 December 2019, Colombia approved a tax reform including a special VAT exemption: On 3 days during 2020, certain groups of goods, such as clothing, appliances and school supplies, are free of VAT. This applied to national purchases and...
Working and Living in Spain after Brexit: Benefit from the Brexit Transition Period
Brexit has been a reality since 31 January 2020. It is the date on which the Withdrawal Agreement was finally approved by the UK Parliament. However, the Withdrawal Agreement set a transition period between 31 January and 31 December 2020....
COVID-19 Economic Relief Package for Micro, Small and Medium-Sized Enterprises in India
The Indian government has announced a package worth USD 260 billion, or the equivalent of around 10% of GDP, for the country's struggling economy during the coronavirus pandemic. The corona aid package is of particular benefit to micro, small and...
Ecovis strengthens its presence in Switzerland
Ecovis welcomes its new partners from Intercontrol AG based in Zurich. At the beginning of this year Intercontrol AG acquired the audit service line called ECOVIS ws&p wirtschaftsprüfung ag of our existing Swiss partners and joined ECOVIS International. As before...
Revision of ethical standards for auditors in the UK to improve auditors independence
The UK’s audit regulator, The Financial Reporting Council (FRC), has now issued revised ethical standards that came into effect for accounting periods beginning on or after 15 March 2020. A central tenet of the revisions is that improved auditor independence...
Beware the Pitfalls of an Accidental Legally Binding Contract over Video Conference
Pandemic-provoked disruption has forced many more people to work from home, reduced face-to-face business almost to zero, and triggered an explosion in video conferencing. But this immensely useful technology carries risks. Those to security are well-documented, but less so those...
Tax Relief Measures for Businesses in Greece to Combat the COVID-19 Crisis
On 18 July 2020, the Greek parliament passed the new law no. 4706/2020. In addition to other provisions, this law also contains regulations on the payment of income tax and the uniform real estate property tax. Moreover, law 4706/2020 also...
Form 1120-F – US Protective Income Tax Return: Securing Deductions against US Gross Income
With the proliferation of digitalization in the global economy, many foreign businesses are accessing the US market online with minimal physical presence. In many instances, foreign companies selling to US consumers may have offices in the US that perform limited...
Ecovis strengthens its presence in Czech Republic
Ecovis welcomes its new partners ECOVIS FACTA and ECOVIS RG from Prague. The roots of ECOVIS FACTA date back to 1995. The firm’s main focus lies on accounting. Today Simona Fialová is leading a team of 30 people. Among them...
Aviation Industry in Ukraine – Challenges and Opportunities
The Ukrainian aviation industry is dynamic and constantly developing, which generates economic growth, creates jobs and facilitates tourism and international trade. The industries directly supported by aviation are growing accordingly. (more…)
Government Support for Businesses in Vietnam – Fighting COVID-19
The Vietnamese government has used drastic measures to prevent and control the COVID-19 pandemic at all levels. It has achieved encouraging results. This consistent approach is paying off: In the April 2020 World Economic Outlook, the International Monetary Fund forecasts...
Taxing the Digital Economy: Has Corona Cancelled or Postponed the Global Tax Revolution?
The pressure was high from the outset when, with the finalisation of the BEPS Action Plan in Oct. 2015, the OECD simultaneously began to initiate a further and even more far-reaching project: an Inclusive Framework (IF) on the taxation of...
Insolvency Proceedings in Spain – Possible Alternatives for Companies and COVID-19 Impact
The number of insolvency cases in Spain is expected to increase from the current figure of 6,000 a year, to more than 15,000 as a result of COVID-19. Spanish law provides a series of procedures for those companies which cannot...
Foreign Workers in Israel – Immigration of Professional Experts
Foreign nationals wishing to work in Israel need a valid work permit. There is a multi-stage approval process. ECOVIS Legal Israel supports companies in completing this process as quickly as possible. (more…)
Thailand: Land of opportunities investment & incentive 2020
Reproduced with permission for Ecovis A. A. C., Thailand, by Chayoot Sripian, Economist, Federation of Thai Industries. Stepping into the year 2020 began as the most challenging throughout the world, due to the spread of the COVID-19 virus and the...
DAC 6: New Mandatory Disclosure Rules in EU Tax Law
The latest amendment to the DAC 6 (Directive for Administrative Cooperation), Directive 2018/822, obliges EU Member States, to enact mandatory disclosure rules for potentially aggressive cross-border tax planning arrangements. It is important to note that from a business perspective, such reporting...
Foreign Investment: Property Acquisition, Rules & Regulations
Speculation in and around the future of the Australian property market remains rife within this country. The increasingly expensive (relative to average earnings) property market is also an electoral issue, with some pressure now being exerted on politicians to restrict...
Russia Decreases Social Security Contributions for SMEs. Companies with Foreign Shareholders May be Affected
Russia took a number of measures to limit economic consequences of the corona pandemic. One of them is a reduction of the level of social security contributions for small and medium-sized enterprises from 1 April 2020. Russian subsidiaries of foreign...
Sourcing in China – Facemasks Against COVID-19
It is better than its reputation: How the Corporate Social Credit System (CSCS) can be useful for a foreign company wanting to procure protective masks in China, such as those now needed by the million worldwide. (more…)
US Hybrid Mismatch Regulations
The US hybrid mismatch regulations move multinational tax planning closer to a one-world approach to limit Base Erosion and Profit-Shifting (BEPS). With the changes enacted as part of the US Tax Cuts and Jobs Act of 2017 (TCJA), many of...
How does the Chinese Social Credit System affect Companies doing Business in China?
Heidelberg, Munich, Germany, May 8, 2020: The Chinese Government has been developing an rating system since 2014. It rates not only individual citizens, but also companies. With this system, China wants to make sure that market participants behave in accordance...
Legal Advice During the Corona Pandemic: How Ecovis Legal Spain Can Help
“Force Majeure” and its practical application: a case study Coronavirus is causing a multitude of problems for customers. How can your Ecovis partner help? Let us look at the case study of a large logistics firm. After Spain declared a...
Ecovis now offers legal advice in Vietnam
ECOVIS International welcomes its new partners from ECOVIS Vietnam Law headquartered in Ho Chi Minh City. The firm Orient Counsel has just rebranded itself as ECOVIS Vietnam Law with a mission to deliver high quality services according to international standards....
Corona Pandemic: Immediate Taxation, Legal Measures and Financial Aid in the UK, Ireland and Uruguay
There is a small light at the end of the tunnel. Worldwide we have seen a slight slowdown in the pandemic, with some European countries announcing the first measures to ease the lockdown. However, the impacts are still affecting businesses...
Corona Pandemic: Immediate Taxation, Legal Measures and Financial Aid in Poland, Algeria and Colombia
Many countries have released further anti-crisis law decrees. In Poland and Colombia, the governments have revised some acts and created new tax regimes. Algeria has announced new measures in response to the crisis caused by COVID-19. Our professionals summarise for...
Signs of Insolvency During COVID-19: Identifying Insolvency and Taking Steps to Avoid it
Coronavirus (COVID-19) is having a major impact on businesses in all sectors around the UK and many companies are facing insolvency. How do you spot signs of insolvency and what are the effects of the recently proposed changes to insolvency...
Corona Pandemic: Immediate Taxation, Legal Measures and Financial Aid in Canada, Turkey and Tunisia
Canada has released various measures since the Coronavirus outbreak to ease the impact on society. Turkey and Tunisia have announced new law decrees as the situation continues to worsen during the crisis. Our professionals summarise for you. (more…)
Recommendations for Business Continuity Management in the Fintech Market regarding Pandemic
The coronavirus pandemic threatens the Lithuanian and the global economy. The Bank of Lithuania has therefore decided that electronic money and payment institutions must develop and implement structures and processes – the business continuity plan – in order to assess...
Corona Pandemic: Immediate Taxation, Legal Measures and Financial Aid in Sweden, Egypt, Georgia, Lithuania and the UK
The Swedish government has announced new measures to reduce the impact of the COVID-19 crisis on businesses and individuals. Georgia and Lithuania have also announced new support for employers. Our professionals provide an updated summary for you. (more…)
Corona Pandemic: Immediate Taxation, Legal Measures and Financial Aid in Italy, Law Decree No. 23
Italy has unfortunately been the European country worst affected by coronavirus so far. To reduce the impacts on businesses caused by COVID-19, the Italian government released Law Decree No. 23 on Liquidity on 8 April 2020. The Ecovis professionals in...
VAT On E-Commerce in Norway
The Norwegian tax administration has introduced a simplified VAT regulation – VAT On E-Commerce (VOEC). Smaller B2C suppliers or marketplaces that sell low-value goods and do not reach the NOK 50,000 threshold also benefit from simplified customs procedures. Ecovis’ Norwegian...
Corona-Pandemic: Immediate Taxation, Legal Measures and Financial Aid in Mexico, Costa Rica, Colombia and Uruguay
Like many other countries affected by the corona virus, Mexico and Costa Rica have also announced states of emergency with various measures. Colombia and Uruguay have announced more new tax deferrals and other social benefits to stabilise the public situation....
Corona-Pandemic: Immediate Taxation, Legal Measures and Financial Aid in Poland, Spain and Italy
To combat the effects of the COVID-19 crisis, Poland has introduced an “Anti-Crisis Shield”, with concrete measures on tax deferral and financial aid packages. Spain and Italy have also released more financial aid measures. Our experts summarise for you. (more…)
Corona-Pandemic: Immediate Taxation, Legal Measures and Financial Aid in New Zealand, Malaysia, Nepal and Vietnam
To stabilise the market many countries have released a second aid package. New Zealand and Malaysia have set up high budgets to support enterprises. Vietnam and Nepal are taking more strict measures, although the situation appears to be under control....
Corona-Pandemic: Immediate Taxation, Legal Measures and Financial Aid in Spain, France, Malta, Romania.
More new measures and financial aid packages have been announced to support SMEs during the pandemic. France, Malta and Romania have announced tax deferral policies and postponements of tax due dates. Spain has announced an extension to the state of...
Corona-Pandemic: Immediate Taxation, Legal Measures and Financial Aid in Greece, Poland, Estonia, Saudi Arabia, Morocco
The outbreak of COVID-19 is a disaster for many businesses. Countries around the world are working at full speed to provide assistance. In Poland, for example, “zero zones” have been created, with strict control measures. More and more governments are...
Lithuania: Amendments to Convention 108 – European Standards for Personal Data Protection will be Applied in Third Countries
On 7 November 2019, the Parliament of the Republic of Lithuania ratified the protocol (CETS No. 223) amending the Convention for the Protection of Individuals with regard to Automatic Processing of Personal Data (ETS No. 108, the “the Convention”) and...
New Developments in Export Control in China
On 28 December 2019, China released a second draft of the PRC Export Control Law (the “Draft”) for public comment. Currently, the legal framework for export control is based on several administrative regulations focusing on chemical, nuclear, military and biological...
Corona-Pandemic: Immediate Taxation, Legal Measures and Financial Aid in Brazil, Chile, Colombia, Uruguay
Since the coronavirus spread to South America, countries have introduced immediate measures to support SMEs. Brazil and Chile have announced support for individuals and SMEs. The Colombian President has used additional powers to implement aid measures and Uruguay is taking...
Corona-Pandemic: Immediate Taxation, Legal Measures and Financial Aid in Ireland, Norway, Lithuania, Georgia, Turkey, Tunisia
Most states worldwide are currently putting together aid packages. The government in Ireland is taking steps to support workers and SMEs, with similar measures being taken in Norway, Lithuania, Turkey and Tunisia. In Georgia, a state of emergency has been...
Corona-Pandemic: Immediate Taxation, Legal Measures and Financial Aid in Germany, Hungary, Czech Republic, Poland, Romania
Since the outbreak of COVID-19 the central European countries are also struggling. The existance of SMEs is at stake. Our Ecovis partners in Germany, Hungary, Czech Republic, Poland and Romania have summarised new temporary legal measures, postponements of taxation due...
Corona-Pandemic: Immediate Taxation, Legal Measures and Financial Aid in China, Singapore, Taiwan, Australia and India
So far the Chinese economy has been hit hardest by the Corona crisis. The neighbouring economies are also struggling. Our Ecovis partners in India report that it is a criminal offence in India to circulate “fake news” via social media....
Beware! Foreign Partners in Partnerships Located in the US
Foreign companies must consider many issues in their tax planning if they are in partnership with companies based in the United States and want to sell shares. (more…)
Corona-Pandemic: Immediate Taxation, Legal Measures and Financial Aid in the US, Canada, Uruguay, Paraguay and Peru
Since the outbreak of COVID-19 we have seen dramatic changes and huge impacts on enterprises worldwide. Our Ecovis partners in the US, Canada, Uruguay, Paraguay and Peru have summarized new temporary legal measures, postponements of taxation due dates and financial...
Corona-Crisis: Impacts on Taxation, Legal Measures and Financial Challenges in the UK, Denmark, Spain, Switzerland and Italy
Since January 2020, the outbreak of COVID-19 has brought dramatic changes and huge impacts on individuals and enterprises worldwide. With the acceleration of the outbreak, all countries have announced temporary legal measures, postponements of taxation due dates and financial aid...
Peru: Commercial Promotions – Income Tax Implications of Bonuses and Promotions Expenses
Companies often use bonuses or commercial promotions for customers to maintain or increase sales. To ensure that these strategies, which are intended to promote sales, are also successful, it is important that the promotion is treated correctly in terms of...
Morocco reforms its tax system
2020 started with a tax reform in Morocco. This should bring additional foreign investors into the country and create more transparency. (more…)
The New Spanish Government and Tax Laws
Spain has had a new minority government since mid-January 2020. Prime Minister Pedro Sanchez must find different majorities on a case-by-case basis. Tax and legal reform proposals were already on the table under the new government. But what exactly is...
Post-Brexit Opportunities: How Companies Can Set Up Office Hubs in the Euro Zone and Britain
Brexit has been, and will continue to be, a source of great uncertainty and challenge for both UK and EU based companies. However, by harnessing the range and expertise of the Ecovis network, we can help our clients successfully navigate...
Economic Growth Law in Colombia – New Challenges for Companies
On 27 December 2019, the President of the Republic of Colombia, Iván Duque Márquez, signed the Economic Growth Law passed by Congress. It includes a variety of tax changes, such as a reduction in corporate tax or tax benefits for...
Ecovis Auditor Armin Weber Joins IDW Working Group on International Audit Questions
In February, Ecovis auditor Armin Weber joined the Working Group on International Audit Questions at the Institute of Public Auditors in Germany (IDW) as a representative for the German “Mittelstand”.* The working group deals with concrete questions around the uniform...
Video: From business set up to succession planning with Ecovis
Ecovis offers a holistic service, from business set up to succession planning. Check out our video to see how we help our clients, or contact one of our experts directly. Watch on youtube.com
Greek Tax Reform and Tax Reduction
The Greek parliament passed an extensive tax package (L. 4646/2019) on 6 December 2019. The tax relief for private households, property owners and companies should clear the way for more investment. The tax cuts are also intended to bring foreign...
US Tax Reform: Focus on the Financing Considerations
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%...
New Taxation on Harmful Products in the UAE
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...
Arbitration or Litigation? Choosing the Right Forum for Cross-border Disputes
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...
Ecovis is now represented in Georgia
We welcome our new partners from ECOVIS ATA and ECOVIS ATA Finance headquartered in Tbilisi. ECOVIS ATA was founded by its partners Irakli Siradze and Giorgi Kverkhelidze in January 2013. Irakli held various high positions in the public sector such...
How the Czech Republic Controls and Punishes Non-Compliance with European Data Protection Regulations
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. Given the wide-ranging doubt and lack of clarity surrounding...
License Issued, What Next?
Over the last few years, ECOVIS ProventusLaw has successfully guided more than thirty fintech companies through the licensing process in Lithuania. Fintech is a dynamic and rapidly developing business sector in Lithuania, with around 180 fintech companies currently operating in...
Possible Complications from Lower Corporate Tax in the United States
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? Tax reform in the Unites States has reduced the federal corporate income tax rate from...
How a Heads of Terms Agreement Can Lead to a Binding Contract
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...
Ultimate Beneficial Owner in Peru
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...
OECD’s Multilateral Instrument Comes into Force
Canada’s adoption of the Multilateral Instrument (MLI), as part of the Base Erosion and Profit Shifting initiative, comes into force on 1 December 2019. The introduction of the MLI amends a significant number of Canada’s tax treaties which will affect:...
Avoiding Compliance Risks for International Managers
Ecovis Beijing advises legal representatives, board members or company managers on how to meet compliance regulations in China. Every limited liability company registered in China must have a legal representative who represents the company in the exercise of its rights...
Video: ECOVIS International – Who we are and what we do
What exactly is ECOVIS International? What does it stand for? Ecovis experts explain why consulting at Ecovis is special and how clients can benefit. Watch on youtube.com
New Regulations for Electronic Document Schemes
Digitalisation is a continuing trend that has already redesigned almost all sectors of the economy and society today. Turkey has also successfully carried out a process of e-transformation in recent years. The Ministry of Treasury and Finance has now issued...
Complex Reporting is Now Even More Complex
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...
Barlow Robbins LLP Advises International Clients on Data Privacy
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. Data Privacy Law Background Data privacy law is...
Free online workshop: Financial Licensing and Passporting in Europe
Eastern European countries have been seen as the gate to enter the EU market, which is considered the largest and most active single market worldwide. Free trade has made the EU the largest trading block in the world. The hurdles...
VAT Exemptions for Home and Office Sales to Foreigners
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...