Legal Info – December 11th, 2020
We invite you to read the latest legal Info prepared by the ECOVIS Romania team. Summary: Modifications of the ”Kurzarbeit” and the granting of a 2500 lei incentive for tele-work – The Law no. 282/2020 for the passing of the Cabinet Emergency Order no. 132/2020 regarding relief measures for the employees and the employers
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From Ecovis Network: UK 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 about changes that will impact all businesses – from importing/exporting goods and direct taxation, through
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From Ecovis Network: Latest Tax Regulations in Turkey
Turkey is struggling with massive tax revenue shortfalls. The government has taken measures to stabilize 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 period. Turkey has faced serious economic problems over the last few years. These include depreciation
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From Ecovis Network: 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 now? Non-resident aliens, i.e. people whose (main) residence is not in the US and who
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From Ecovis Network: Greece – New Government Measures Against COVID-19 and its Consequences
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. Financial support of EUR 3.3 billion will be provided to workers and businesses affected by the special measures, which
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From Ecovis Network: 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 already been paid can be reclaimed. RETT of four percent was applied on all real
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From Ecovis Network: 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. CHCs are not a separate type of company, but rather a series of tax benefits for which domestic
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ECOVIS Romania – Legal Info 28.10.2020
Legal Info – 28.10.2020 – EN Table of Contents: Emergency Order no. 181/2020 regarding the introduction of tax & budgeting proceedings, for the modification and addition of specific regulatory documents, as well as for the prorogation of deadlines – coming into act with October 26th, 2020. Emergency Order no. 182/2020 for the addition of the
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From ECOVIS Network: Uruguay – 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 who are audited. There is unprecedented uncertainty in the economy, which can affect those who
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From ECOVIS Network: Ukraine – Government Support for the Aviation Industry 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 related to overcoming the consequences of COVID-19 restrictions. During the quarantine almost all flights, including
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