From ECOVIS Network: UK – Auditing and the Culture of Embracing Change
Changes to be navigated by Ecovis UK over the coming years 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. Luckily, we have a culture of embracing change at
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From the ECOVIS Network: China – Brand Protection
The US fashion brand Supreme wins trademark rights in China 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. A trademark is primarily used to market products and
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From ECOVIS Network: Turkey – 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 legal persons. Although the law has been in force for two years, many investors are
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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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From the ECOVIS Network: Germany – Warning to Online Traders!
Online trading is becoming more of a challenge in Germany. Traders are now requested to apply for a certificate from the German tax authorities in accordance with art. 22f of the German law on turnover tax (UStG). Without this certificate, trading via online platforms will be impossible. Ecovis can provide you with the information you
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From the ECOVIS Network: Colombia – What a Foreign Investor With a Location in Colombia Should Not Forget
The globalization of the economy has led to the elimination of import and export duties at borders and Colombia stands out in the region for attracting foreign investment, due to its strategic location, which allows it to become an export platform; furthermore, the peace process has brought stability to its economy and it is known
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