From ECOVIS Network: Lithuania – Finance Institution and FinTech Licensing in Single European market
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. The European Union (EU) single market of 28 states, 500 million wealthy consumers and 21 million enterprises is currently the world’s largest single market with no
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From ECOVIS Network: USA – 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 and Jobs Act of 2017 (“TJIC”). Background Although Form 5471 has been around for
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From ECOVIS Network: Australia – The Wins Keep Coming for the Australian Taxation Office
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.
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From ECOVIS Network: UK – 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 going global. Well not quite. But having passed the first anniversary of the General Data
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From ECOVIS Network: Leasing of Pleasure Yachts in Malta – A VAT Perspective
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. Global yachting destinations are increasing and consumer preference is moving away from the traditional Mediterranean and Caribbean waters, to less familiar destinations such as the Asia Pacific and
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Din rețeaua ECOVIS: Ecovis Americas Magazine – Ediția iunie 2019
ECOVIS este încântat să vă aducă la cunoștință a doua ediție a Buletinului ECOVIS America. Următoarea ediție va fi publicată de către partenerii noștri din America de Nord și de Sud în luna august. În această ediție, articolele privesc: Proiecte de investiții în sectorul energiei din Mexic Noi ISA în Guatemala Transformarea digitală Panama post
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From the ECOVIS Network: Data Analytics & the Evolving Audit in the USA
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
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From the ECOVIS Network: VAT refund available on construction works in Turkey
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,
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From the ECOVIS Network: Amendments to the VAT Law of Turkey
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 and
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From the ECOVIS Network: Germany Putting Pressure on Dubious Tax Arrangements
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
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