Digital-Driven Service Providers Without Borders

New technologies have changed many industries. While some have succumbed, others have been empowered and continue to thrive. Those new service providers, often led by digital transformation, typically do not have resources on the ground, offices in every country, HR professionals, etc.

At ECOVIS International, we recognize the unique challenges and opportunities that arise for service providers who wish to expand globally without the traditional physical footprint. Our global network of experts is dedicated to delivering tailored accounting, tax, audit, and legal solutions that empower digital-driven service providers to thrive worldwide.

Welcome to our international accounting, tax, audit, and legal network, where we specialize in empowering forward-thinking service providers undergoing digital transformation. In today’s rapidly evolving business landscape, the digital era has redefined how service providers operate, enabling them to reach clients worldwide from anywhere. Our Business Development team will assist clients by identifying the tailored business solutions and tapping into the necessary expertise from within the network, whether it be legal services, auditing, or tax providers.

Join us as we explore the world of new service providers led by digital transformation, who do not have or want resources on the ground. Let’s embark on a journey of international growth and success together, guided by cutting-edge business strategies and technology expertise.

News about “Digital-Driven Service Providers”

Special instalment regime for tax debts in Peru: Terms, benefits, and exclusions

19. November 2024 | The recently published legislative decree no. 1634 introduces a special instalment programme for tax debts in Peru. It is managed by the Peruvian financial authority SUNAT and covers debts payable up to 31 December 2023. The Ecovis experts explain the details.

E-Commerce Platforms in Vietnam: Proposed New Tax Responsibilities for Platform Owners

31. October 2024 | In recent years, the rapid growth of e-commerce in Vietnam has prompted significant changes in the regulatory landscape. The Vietnamese government is now proposing new tax responsibilities for e-commerce platform owners to ensure better compliance and transparency. The Ecovis experts from ECOVIS AFA VIETNAM explore the current tax administration requirements and the proposed amendments to the Tax Administration Act aimed at streamlining tax declaration and payment processes for businesses operating on e-commerce platforms.

Malaysia Special Economic Zones: Exclusive Tax Incentives to Establish Your Family Office in Malaysia’s Forest City Special Financial Zone

25. October 2024 | On 20 September 2024, YB Senator Datuk Seri Amir Hamzah Azizan, Finance Minister II, delivered a keynote address at the Forest City Special Financial Zone (FCSFZ) Tax Incentive Announcement Ceremony. The address highlighted the Government's commitment to fostering investment and positioning Forest City as a competitive financial hub through attractive tax incentives. This initiative is aimed at attracting global Single Family Offices (SFOs) to establish their presence in the region, promoting economic growth and generating high-value employment opportunities.

Simplex Portugal: Paradigm shifts and the increased need for legal support in real estate

25. October 2024 | Throughout 2024, the Portuguese government has implemented a legal package named Simplex. It includes measures to overcome challenges related to a lack of housing and simplifying urban planning and licensing, in line with a “zero licensing” philosophy.

Chinese Companies Going Global: Tax & Accounting Risks

23. October 2024 | In the wave of globalization, “going global” has become an important strategy for many Chinese enterprises. In some cases, companies often formulate meticulous investment strategies, but many have less knowledge about the tax and accounting of the target country(ies). Neglecting accounting and tax risks will inevitably result in unnecessary fines and penalties, leading to limited development.

Labour code Luxembourg: New law for transparent and predictable working conditions

23. October 2024 | Luxembourg has amended its labour code to implement the EU Directive 2019/1152 on transparent and predictable working conditions: Employees should have improved access to essential information relevant to their employment relationship. The new regulations came into force on 4 August 2024. The Ecovis consultants know what companies need to do now.

Real Estate Hungary: Local Hungarian referendum could change Airbnb market

21. October 2024 | From 2026, real estate investors in Budapest will most likely have to change the use of their property if they rent it out as Airbnb for a short period of time. This follows a local referendum in the Terézváros district of Budapest in which residents rejected Airbnb. The Ecovis consultants explain the consequences of the referendum.

EU Pay Transparency Directive: Impacts on employers and employees by 2026

18. October 2024 | By June 2026, EU member states must implement the new European Union (EU) Pay Transparency Directive into national law. It aims to reduce the pay gap between men and women, partly caused by direct or indirect gender discrimination. The new directive includes measures ranging from banning potential employees from asking about their current salary to allowing employees to speak up about their pay. The Ecovis experts explain the details.

Property tax Poland: New version of amendment published

16. October 2024 | The Polish government has published a new version of the amendment to the property tax law. Among other things, it aims to remove doubts about the interpretation of the current provisions and to clarify them so that they can be applied correctly. The law is set to come into force on 1 January 2025.

Transfer pricing in Vietnam: Proposed changes of the draft amendments to Decree 132

14. October 2024 | Decree No. 132/2020/ND-CP (Decree 132) on tax administration for companies with related party transactions, which has been in force since 2020, has led to some restrictions and difficulties for companies. The Vietnamese government therefore presented amendments to Decree 132 in July 2024, which are to be adopted in the 4th quarter and will apply from the 2024 tax period. The Ecovis consultants explain the background and what is changing.

VAT Hungary: New era in Hungarian VAT compliance

11. October 2024 | On 1 January 2024, the Hungarian Tax Authority (HTA) introduced a new electronic VAT system, eVAT (eÁFA). It offers taxpayers various electronic services to streamline and automate the preparation of their VAT returns. The Ecovis experts explain the details.

The new digital transaction levy in Greece: What businesses need to know

9. October 2024 | From 1 December 2024, a new tax on digital transactions will apply in Greece. It replaces the traditional stamp duty. More than 600 types of transactions will now be exempt from stamp duty. The Ecovis experts explain the details of the new law and what businesses need to know.

VAT on digital services in Peru: Implementation postponed to 1 December 2024

7. October 2024 | Providers and sellers of digital services who are not based in Peru will not have to register and pay 18% VAT to the Peruvian tax authorities until 1 December 2024 – a delay of two months. The Ecovis consultants know the details.

Web scraping protection: How companies can protect their online content from being used by AI providers

3. October 2024 | Providers and developers of (mostly general) AI tools often train their systems with data that is subject to copyright or database rights of third parties. How can they be prevented from using the authors' online content for AI training against their will? Is web scraping permitted under European law? The Ecovis experts answer these and other questions.

EU Packaging Directive: Stricter rules for packaging

9. September 2024 | The European Union is significantly tightening the rules for packaging. A new regulation, the final version of which is expected this year, will create a comprehensive legal framework for more resource-efficient and recycling-friendly packaging.

Buying a house in Portugal: New tax incentives

7. September 2024 | On 1 August 2024, exemptions were introduced to Portuguese real estate transfer tax and stamp duty for the purchase of a first permanent home by young people (foreigners or Portuguese nationals) up to the age of 35. The Ecovis experts explain the details of when exactly the tax benefits apply.

Commercial yacht registration Malta: Introduction of Small Commercial Yacht Code

6. September 2024 | The Small Commercial Yacht Code came into force in Malta on 1 April 2024. This makes it easier for smaller yachts between 12 and 24 meters to register according to the standards set there. The Ecovis experts know the details.

Hungary: White Card for digital nomads

5. September 2024 | The new Hungarian immigration law came into force on January 1, 2024. The new provisions include previously known and new opportunities for expatriates wanting to live in Hungary, although the implementation of the law and practice are still evolving. Hungary issues a special residence permit for digital nomads, the White Card. The experts at Ecovis explain what it costs and how to apply for it.

Vietnam’s social insurance law: New law to come into effect on 1 July 2025

4. September 2024 | Vietnam’s 15th National Assembly recently passed Law No. 41/2024/QH15 on social insurance. The new law introduces amendments that address current inadequacies between legislation and real-life practice, while improving the rights and benefits for social insurance participants. It will come into effect on1 July 2025. The Ecovis experts know the changes.

ATO Data Matching: What Taxpayers Should Know

3. September 2024 | The Australian Taxation Office (ATO) is drawing media attention this tax season with its scrutiny of various areas, including the usual remote work expenses, as well as cryptocurrencies and rental properties. However, beyond the media spotlight the ATO has also quietly developed new data connections that could indicate future audit targets. Scott Hogan-Smith from ECOVIS Clark Jacobs explores these data links and the information being gathered about taxpayers.

Corporate secretarial services in Finland: Efficient administrative management of clients’ Finnish operations through Ecovis Finland

2. September 2024 | Ecovis Finland offers comprehensive Corporate Secretarial (CoSec) services to international companies and funds, backed by a robust cooperation network that provides a solid foundation for fiducial services.

India Announces Simplified Tax Regime & Reforms

2. September 2024 | India's recent budget proposals have introduced reforms to make its tax regime easier to understand and more business-friendly. In this article, the experts at ECOVIS RKCA explore how these new rules will impact a wide range of stakeholders, including start-ups, multinationals and individual investors.

Doing business in Croatia: Mandatory e-communication

29. August 2024 | Companies wanting to set up a business in Croatia or provide services there from an EU or EEA country must register their company for “e-communication”. All legal proceedings are handled via this information system. Registration is mandatory, even without a specific reason. The Ecovis experts explain the details.

Top Talent Pass Scheme Hong Kong: Highlights of the TTPS • 高端人才通行證計劃

29. August 2024 | The Top Talent Pass Scheme (TTPS) is one of the new measures announced by the Hong Kong Special Administrative Region (HKSAR) government to attract talent to Hong Kong. This scheme is expected to be popular as it does not require employer sponsorship at the time of application. The scheme is widely available to eligible nationals from many countries and offers a new path to Hong Kong to live and work. The experts from ECOVIS Axial CPA Limited outline the features and benefits.

CFC Taiwan: Implications of New Regulations for Offshore Trusts and Broader APAC Insights

22. August 2024 | Taiwan’s new CFC regulations, effective January 1, 2023, tighten tax rules for offshore trusts held by Taiwanese residents. A recent July 2024 ruling requires offshore trustees to register with Taiwan’s tax authorities and adhere to new reporting standards. The experts from TAK ASSOCIES and ECOVIS Taiwan CPA Firm explore these developments and their broader impact across the Asia-Pacific region.

Malaysia E-Invoicing: Embracing the Digital Future

20. August 2024 | Malaysia is launching e-invoicing to modernize its tax system and streamline business transactions. Starting August 2024, the Inland Revenue Board will phase in this digital system, replacing traditional invoicing methods. The experts at ECOVIS MALAYSIA TAX SDN BHD explain what businesses need to know about this transition, including implementation timelines, benefits, and compliance requirements.

Property tax Poland: Amendments to the according tax regulations

7. August 2024 | The Ministry of Finance has published a draft law amending the Law on Local Taxes and Fees which will, among others, also affect the regulations on property tax. The law is expected to come into force on 1 January 2025. The Ecovis experts are familiar with the changes and explain the potentially far-reaching consequences.

VAT Finland: The changes companies need to prepare for

15. July 2024 | From September 2024, there will be significant VAT changes in Finland, impacting various industries. Companies must understand the changes and prepare for the new challenges in order to maintain their financial stability and competitiveness.

Morals clauses in the age of AI: An artificial misconduct

4. July 2024 | Working with celebrities or public figures involves risks. If the talent's reputation suffers, the bad image will reflect on the company. Celebrity endorsement contracts manage this risk with a morals or conduct clause. The experts at Pryor Cashman LLP* explain why this is particularly important in connection with AI.

Non-cash payments Vietnam: New regulations

3. July 2024 | The Vietnamese government recently issued Decree No. 52/2024/ND-CP (Decree 52) regulating non-cash payments. This regulates the opening and use of payment accounts and sets out clearly the cases for blocking or closing such accounts. Decree 52 takes effect from 1 July 2024. The Ecovis experts explain the effects.

Incorporate Dutch BV: The incorporation of a digital Dutch BV with English as the official language

3. July 2024 | As of 1 January 2024, it is now possible to digitally incorporate a private company with limited liability (Dutch BV) in the Netherlands. The experts from KienhuisHoving – a member of ECOVIS International – explain the most important points of this change in Dutch law.

Automated data management: Streamline your client data collection with Flowsecure, including KYC searches

1. July 2024 | Flowsecure can significantly reduce the manual effort involved in data processing and KYC processes. This gives companies more time to concentrate on their core competencies. The Ecovis consultants in Norway explain why they decided to do this in the interests of their clients.

Tax residence Italy: Revisions to identifying the tax residence of natural and legal persons

31. May 2024 | As of 1 April 2024, there are new rules on international taxation in Italy, especially concerning the identification of the tax residence of natural and legal persons. This is regulated in Legislative Decree 209/2023. The Ecovis experts explain who will be considered tax residents in Italy in the future. Specifically, article 1 introduces important revisions […]

E-invoice Germany: Mandatory for businesses subject to VAT in Germany from 2025

29. May 2024 | The federal government has made it mandatory to create and receive electronic invoices from 2025. This affects all businesses subject to VAT in Germany. The Ecovis experts briefly explain what needs to be considered. What are e-invoices? E-invoices are invoices in a specific, legally regulated data format. A PDF file is not considered an e-invoice. […]

Minimum wage Greece and other new developments in labour relations

27. May 2024 | Greece has introduced new regulations concerning employment relationships, some of which have already come into force or will come into force later this year. The measures include setting the minimum wage for 2024 and the introduction of a digital work card. The labour lawyers at Ecovis know what companies must prepare for. Setting the minimum […]

Digital Peru: The challenges of the digital economy and Pillar One

20. May 2024 | The OECD has issued new tax regulations for Pillar One and the Pillar One – Amount B. They aim to adapt to the ever-evolving digital economy and to avoid undesirable base erosion and profit shifting (BEPS).

Protected tenants in private apartments in Croatia: Implementation of the ECHR judgments

30. April 2024 | The Croatian parliament has adopted a solution to the problem of protected tenants in private apartments, based on the rulings of the European Court of Human Rights (ECHR). This means that owners can receive compensation and reclaim their apartments. The deadlines for this expire in April 2025. The Ecovis experts in Zagreb explain the details […]

How employee and contractor AI use can create liability for employers: A guide for navigation

3. April 2024 | Corporate employees and contractors are increasingly using generative tools based on artificial intelligence (AI) in their work. Since legislation around the use of AI is still in its infancy, AI users are exposing companies to potential liability and, in turn, financial and reputational damage. Areas of application of AI Areas poised for significant adoption of […]

International human rights law: Ecovis represents clients before the ECHR

3. April 2024 | The decisions of the highest national courts in individual states do not always result in a case being brought to a fair conclusion. In order to ultimately receive justice, those affected can appeal to the European Court of Human Rights (ECHR). The experts from the Ecovis international human rights law firm in Strasbourg explain how […]

Money laundering in Vietnam: The government’s national plan to combat it

25. March 2024 | Vietnam has adopted a catalogue of measures to prevent and combat money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction. The Ecovis consultants have put together what these money laundering measures in Vietnam are and what they mean for companies.

Company incorporation in Georgia: Registration of an entrepreneur

22. March 2024 | State and tax registration is mandatory for companies in Georgia. Both must be carried out at the same time at a registration authority. The Ecovis experts explain how the company incorporation in Georgia works and which documents companies must submit.

Supplier sustainability self-assessment questionnaire by ECOVIS Proventus Law: How sustainable are you?

20. March 2024 | Small and medium-sized enterprises (SMEs) are reporting that their larger value chain partners and finance providers are increasingly asking for sustainability data to fulfil regulatory requirements. The experts at ECOVIS ProventusLaw explain what this means for SMEs and what to expect.

Golden Visa Hungary: The new programme

13. March 2024 | Under the new immigration act adopted in December 2023, Hungary is providing a guest investor visa allowing a 2-year period of residence in Hungary. Holders are entitled to stays of more than 90 days and multiple entries within 180 days. The Ecovis experts explain which rules apply to the Golden Visa in Hungary. The Hungarian […]

Cross border remote work: An employers’ guide to the new regulations in Luxembourg

29. February 2024 | From 1 July 2023, employers in Luxembourg have faced crucial regulatory changes following the adoption of the multilateral framework agreement on cross border remote work. ECOVIS IFG Audit S.A. in Luxembourg has prepared the following guide to the key points of the new law.

Forging the Future of Work: How Exxeta Pioneers Global Remote Work Solutions, supported by ECOVIS Heidelberg

28. February 2024 | Under the guidance of Richard Hoffmann, Lawyer and  Senior Partner, Ecovis Heidelberg has fostered a deep and enduring business relationship with Marcus Bingenheimer-Zimmermann, Director of People & Culture at Exxeta, previously the Head of Human Resources at the esteemed football club, Eintracht Frankfurt. , a leading consultancy specializing in business and IT consulting, is at […]

Budget 2024 Malaysia: The Startup of Tax Reform by the Government

22. November 2023 | In a historic move for the country, the Malaysian Prime Minister, who is also Minister of Finance, unveiled the eagerly awaited 2024 budget on 13 October 2023, which sets a new spending record of MYR 393.8 billion.

How to invest in Tunisia: Unlocking opportunities

28. September 2023 | Over the past ten years, Tunisia has made a name for itself as a location for investments in IT development. Foreign IT companies in particular, for example from Western Europe, Canada and the USA, have set up branches in Tunisia – and are benefiting from the numerous advantages that the country offers: a favourable geographical location, a pool of highly qualified engineers and attractive tax and legal incentives.

Cross-Border Game Providers in Vietnam: Impact of Recent Actions by the MIC

18. August 2023 | The Ministry of Information and Communications (MIC) and its Authority of Broadcasting and Electronic Information division (ABEI) recently implemented various measures that have significantly impacted cross-border game providers in Vietnam. Most notably, the specific actions taken by the MIC and ABEI requesting that Apple and Google remove/delete unlicensed games in Vietnam. The Consequences for Foreign […]

Digital Invoicing: Say goodbye to traditional invoices and fully enter the digital era

26. July 2023 | In today’s rapidly evolving business landscape, traditional invoices are becoming a thing of the past as digital invoicing takes centre stage. With the introduction of the Golden Tax System Phase VI, the implementation of digital invoices has reached new heights, revolutionising the way enterprises operate. The Ecovis experts take a look at the most important […]

Declaring foreign bank accounts, digital assets accounts, or specific contracts held outside France

20. July 2023 | Failure to comply can lead to heavy penalties. The deadlines for 2023 already expired. However, tax returns can be corrected until 7 December 2023. The Ecovis experts know exactly what needs to be done and when. French tax resident individuals must declare their foreign bank accounts, digital assets accounts and foreign capitalisation contracts in their […]

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

7. June 2023 | 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 NIS2 measures from 18 October 2024, and DORA will apply directly from 17 January 2025. Both […]

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

2. June 2023 | 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 both an immigration and taxation perspective. Ecovis expert Natalia Bonilla answers the most important questions. […]

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

25. May 2023 | 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 service providers. However, companies are still not complying with the current rules, and they now […]

Business continuity consultant: Stay ahead and prepare for the worst

13. April 2023 | 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 swiftly restore normal operations.  BCM executives strive to anticipate plans and actions before potential disasters […]

Digital nomads Spain: New law facilitates working in Spain

1. April 2023 | 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 good weather, great food, beaches, and quality of life. Although working from home was not […]

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

30. March 2023 | 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 Ecovis consultants know exactly what companies need to consider. Import duty exemption for information technology […]

Law on Companies Lithuania: Parliament adopts new regulations

10. February 2023 | 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.

eID accounts Vietnam: Regulations on electronic identification and authentication

7. December 2022 | 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.

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

30. November 2022 | 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 details of the tax changes.

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

29. November 2022 | 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.

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

10. November 2022 | 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 shopping malls, supermarkets, retailing of consumer goods, foods and drinks, restaurants, hotels, retailing of modern […]

Vietnam cybersecurity law: Data localisation requirement for digital service providers

3. November 2022 | 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”) came into force on 1 October 2022.

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

17. October 2022 | 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.

Personal data protection act Thailand: Exemption for SMEs

14. October 2022 | 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 Office for Digital Economy and Society (DES) to clarify specific issues under the PDPA. However, […]

Tax on Vietnam Cross Border E-Commerce Activities

29. August 2022 | 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 e-commerce of Overseas Suppliers who don’t have permanent establishments in Vietnam. 1. Tax obligations of […]

Tax Incentives in Vietnam for Software Services and Software Products

19. August 2022 | 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 years (i.e., from approximately 7,400 enterprises in 2016 to more than 13,500 in 2020). Currently, […]

OIB Croatia: Prerequisite for doing business in Croatia

11. August 2022 | 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.

Malaysia Digital Economy Corporation: SME Digitalisation Grant available

28. July 2022 | 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 is eligible and how the application process works.

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

7. July 2022 | 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.

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

5. July 2022 | 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 taken numerous measures to support companies with the introduction and implementation.

Controlling Beneficiaries

13. June 2022 | Validity As of January 1, 2022 Legal Basis Articles 32-B Ter, 32-B Quater and 32-B Quinquies of the Federal Tax Code (CFF) in correlation with rules 2.8.1.20 to 2.8.1.23 of Miscellaneous Tax Resolution 2022 (RMF) and articles 84- M and 84-N of the CFF itself. Who are the controlling beneficiaries? Always is and will be […]

Peru cryptocurrency regulation: Tax treatment of crypto coins

2. June 2022 | Many companies are using cryptocurrencies for their transactions – and the trend is increasing. The legislator in Peru has therefore looked at the tax treatment of cryptocurrencies and set a tax rate of up to 30 percent, for example on profits from sales or futures transactions. The Peruvian Ecovis experts know the tax details.

Malta business opportunities: New government pledges investment and tax incentives

30. May 2022 | The Maltese government has developed a package of measures aimed at boosting the economy in structurally weak areas. Companies investing in these disadvantaged areas can expect subsidies, grants and tax breaks.

E-Tax Vietnam: Launch of E-Portal And Tax Mobile App

25. April 2022 | Vietnam’s two new digitized tax administration platforms will help both foreign and local taxpayers meet their tax obligations. On March 21, 2022 the Vietnam General Department of Taxation held an online conference to announce the launch of the e-Portal for foreign suppliers, as well as the implementation of a new tax application called E-Tax Mobile.

Cryptocurrency: Regulations in the USA on the way

28. March 2022 | Cryptocurrencies are trending. In the USA, the market is hardly regulated, but that about to change. The tax and financial authorities should be given the tools to better track the use and trading of virtual money.

Relevant aspects of the 2022 miscellaneous tax resolution (RMF) in relation to the simplified trust regime for individuals (RESICO PF)

7. March 2022 | On December 27, 2021, the RMF 2022 was published in the Official Gazette of the Federation (DOF) which is effective as of January 1, 2022 (except in cases where a different date is indicated). Below are some of the most relevant aspects of the RMF in relation to the applicable rules for the RESICO PF […]

Investment incentives in Greece: benefits for many industries

7. March 2022 | Greece is aiming to promote investment projects and boost the economy with incentives such as tax exemptions or subsidies for personnel costs. The funded measures include, for example, digitalisation projects, investments in sustainable tourism or company environmental and climate protection projects.

Doing Business in Cyprus

6. December 2021 | The Cypriot government has released its new strategy action plan for attracting international businesses to Cyprus. The emphasis is on technology, shipping, innovation and research & development. Implementation will start in 2022. The Ecovis experts explain the most important measures.

Vietnam Tax Exemptions: COVID-19 Support For Business and Individuals

17. November 2021 | On 19th October 2021 the National Assembly Standing Committee issued a resolution (Resolution No. 406/NQ-UBTVQH15) introducing tax exemptions and reductions to support enterprises and individuals affected by the COVID-19 pandemic. These exemptions and reductions are listed below: 30% Reduction of Payable Vietnam Income Tax in 2021 (Corporate) This reduction only applies to taxpayers who have: revenue […]

Digital Nomads in Greece: Work Independently with Benefits and Privileges

20. September 2021 | Greece is seen as an attractive destination for digital nomads. This is particularly due to the benefits and privileges, such as lower income tax, provided for in law L. 4825/2021 passed by the Greek parliament. However, there are some bureaucratic hurdles to overcome for digital nomads wishing to work in Greece.

Mexico Tax Reform: What Changes are Expected in 2022

11. August 2021 | The Mexican tax authority is currently working on a new tax reform. It is expected to be submitted for legislation in September 2021. The tax changes should be incorporated into Mexican federal tax law from 2022.

Digital Nomad Work: Malta Launches Nomad Residence Permit

30. July 2021 | In June 2021, the Residency Malta Agency introduced a Nomad Residence Permit (NRP). This new temporary residence permit allows non-EU individuals to work remotely whilst living in Malta.

2020 Global MNC Tax Complexity Survey: “There Will Never be a Tax Declaration on a Beer Mat”

12. July 2021 | Researchers from the University of Paderborn and LMU Munich have published an insight into the data from their third global survey on tax complexity. The data once again shows that overall tax complexity has increased worldwide for Multinational Corporations (MNCs) over the last two years. ECOVIS International partners also contributed data to the survey.

Croatia Tax: Change of Submission Deadlines for Tax Returns and Annual Financial Statements

10. May 2021 | The Croatian Ministry of Finance has extended the deadline for filing corporate tax returns. This should provide relief for those companies affected by the corona pandemic.

GST In Malaysia: Will It Return?

6. May 2021 | After spending a number of years studying Goods and Services Tax (GST), Malaysia was the last country in the Association of Southeast Asian Nations (ASEAN) excluding Brunei to implement GST in 2015. However, Malaysia became the first to abolish GST in 2018 after the fall of the Barisan Nasional government in the Malaysian 14th General […]

Payroll in Singapore: Common Non-compliance HR Matters

5. May 2021 | Are you aware of the following? Under the Skills Development Levy (SDL) Act, employers are required to pay SDL, at different contribution rates, for every employee they hire. This applies to all permanent, casual, part-time, temporary or foreign employees rendering their services wholly or partly in Singapore. Bonuses are considered additional wages (AW) and the […]

Tax Relief for Family Offices in Greece

15. April 2021 | Greece introduced a new business tool for the management of cash flow and family property assets in February 2021. It is regulated in the “family offices” law.

Taxes in Finland: New Tax Benefits for Foreign Companies

29. March 2021 | Foreign companies can now take advantage of new tax incentives in Finland. The tax breaks can reduce the cost of joint research and development projects by 150%. In addition, tax-free shares will encourage employee commitment and new e-identification and e-authorisations are being introduced.

India Adopts Faceless Tax Assessments and Appeals: A Pragmatic Approach

4. February 2021 | One impact of the global Coronavirus pandemic is that, in some parts of the world, the use of digital communications has accelerated. India has adopted “faceless” interactions through digital means with tax payers, and the Revenue department has been agile in keeping up with changes, introducing faceless tax assessments and appeal schemes for all categories of taxpayers (barring a few exceptions) across the country.

VAT on foreign services rendered

21. October 2020 | 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 B2C operations (Business to Consumer). Despite the fact that foreign services rendered from abroad are […]

Big Data Audit: Digital Transformation of the Audit Process at Ecovis in Colombia

29. September 2020 | 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.

India Announces Package for Micro, Small & Medium Enterprises During COVID-19

1. September 2020 | 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 of these being the important sector of Micro, Small and Medium Enterprises (MSME). The Finance […]

Malaysia becomes the second country to implement Digital Service TAX in Southeast Asia

1. September 2020 | 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 Tax (SST), the system that was in place prior to launching GST. The reverse officially […]

COVID-19: Support for small and medium enterprises in Singapore

1. September 2020 | 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, followed by two supplementary budgets, the “Resilience Budget” announced 26 March 2020 and the “Solidarity […]

Can India Influence Post-Covid-19 World Order? – Current Opportunities In India

1. September 2020 | 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 first quarter of 2020. Intuition and an understanding of the Indian psyche is key to […]

Form 1120-F – US Protective Income Tax Return: Securing Deductions against US Gross Income

10. August 2020 | 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 marketing or back office functions. But this can have tax consequences for Form 1120-F.

Digital Tax: Chile

5. August 2020 | Law 21210 of February 24, 2020 in its article 35 A of the new paragraph 7 bis of the Law on Sales and Services Tax establishes that taxpayers not domiciled or residing in Chile that render services taxed according to the new letter n) of Article 8 of the Law on Sales and Service Tax

Impuesto Digital Chile 2020

4. August 2020 | La Ley 21210 del 24 de febrero de 2020 en su artículo 35 A del nuevo párrafo 7 bis de la Ley sobre Impuesto a las Ventas y Servicios establece que los contribuyentes no domiciliados ni residentes en Chile que presten servicios gravados conforme a la nueva letra n) del Artículo 8 de la Ley sobre Impuesto a las Ventas y Servicios

Taxing the Digital Economy: Has Corona Cancelled or Postponed the Global Tax Revolution?

22. June 2020 | 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 the digital economy, due for completion by the end of 2020.

Thailand: Land of opportunities investment & incentive 2020

21. May 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 trade war between China and US, which has, in turn, slowed down the economy in […]

Post-Brexit Opportunities: How Companies Can Set Up Office Hubs in the Euro Zone and Britain

4. March 2020 | 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 the post-Brexit minefield.

Use of data analysis for auditing

21. February 2020 | It is the beginning of a new year which leads to reflection and goal setting. As auditing professionals, it is important to question performance and how to keep improving in the vocation, which makes us wonder: is our firm inspired, or are we simply in the market to meet accounting, tax and legal regulations?

Uso de herramientas tecnológicas para el análisis de datos en la Auditoría.

21. February 2020 | ¿Realidad o ficción? Es el comienzo de un nuevo año el cual nos lleva a la reflexión y a establecer nuevos objetivos. Como auditores, es importante cuestionar el desempeño y cómo seguir mejorando en la vocación, lo que nos lleva a preguntar: ¿Está nuestra firma inspirada, o simplemente estamos en el mercado para cumplir con […]

New Regulations for Electronic Document Schemes

20. November 2019 | 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 Serial Communiqué 509 and Serial Communiqué 3, which both came into effect after being published […]

Colombia: The 21st century workforce

19. July 2019 | The workforce and technology are changing. They are more digital, more technological and more global. Colombia is making the necessary adjustments to be prepared for this. Digital technology is disrupting entire industries and changing the way companies do business across all stages of the value chain. It affects how they develop, market, produce, sell and […]

Romania: The new capital markets

19. July 2019 | It was January 3rd,2009 when the bitcoin network was created and Satoshi Nakamoto mined the first block of the chain, the genesis block. It was the birth of a technology that will grow to be embedded in almost every aspect of our life. After the bitcoin rally, the financial world took notice and started getting involved […]

Digital transformation at a glance

3. June 2019 | Digital transformation is changing entire organizations as it opens the doors for many opportunities. Numerous market forces are driving the need for digital transformation. Many companies have embarked on complex digital transformation journeys, encompassing all aspects of their business to redefine how they operate. Digital transformation is not just about implementing more and better technologies: […]

China’s Cryptocurrency and Blockchain Regulatory Environment

17. May 2019 | In China, transactions in cryptocurrencies are heavily regulated. Ashley Tian of Ecovis, Beijing, explains the limitations and effects in this article. For further information on the topics mentioned in this article, just klick on the corresponding footnotes. Background Prior to 2017, China had the world’s largest cryptocurrency market – with 80% of bitcoin, the world’s […]

Data Analytics and the Evolving Audit

17. May 2019 | 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 […]

Vat liability of non-residents in Turkey

11. April 2019 | According to a new legislative amendment, non-resident providers of all kinds of services by internet to real persons resident in Turkey are required to submit a VAT return. Services provided in Turkey by those whose residences, workplaces, legal headquarters and principle offices are not located in Turkey and services provided abroad but from which an […]

Unique blockchain law to come into force

27. February 2019 | Liechtenstein – known for its highly qualified financial services – is a pioneer in handling new technologies. The government of Liechtenstein has recognised the great future potential of technologies like blockchain not only for the financial sector, but also for transactions in other branches. Therefore, as one of the first countries to do so, Liechtenstein […]

USMCA: Noteworthy Changes

27. February 2019 | On 30th November, 2018, after a whole year of negotiations, the presidents of the USA and Mexico and the prime minister of Canada signed the new trade treaty titled United States Mexico Canada Agreement (USMCA) at the G20 Summit in Argentina. The ratification of the treaty is expected in the first semester of 2019. Unlike […]

USA: Finally, Some Alphabet Soup for the Soul: The Foreign-Derived Intangible Income (“FDII”) Deduction

12. October 2018 | Internal Revenue Code Section 250 has been added to the Tax Cuts and Jobs Act of 2017 (the “TCJA”), creating a new preferential tax rate for income derived by domestic corporations serving foreign markets.

From iGaming Pioneer to Crypto and Block Chain Hub

13. July 2018 | Over the years, Malta has gained renown as one of the top online gaming and betting jurisdictions for businesses wanting to establish themselves and prosper under local and EU regimes. This reputation primarily owes itself to Malta being the first EU Member State to regulate online gaming, thus gaining experience in the constant refinement of […]

More power to copyright owners in a digital world

8. August 2017 | In June 2017, the Court of Justice of the European Union (CJEU) delivered a long awaited judgment which is being widely celebrated by copyright owners throughout Europe. The Pirate Bay (TPB) is a well-known file-sharing platform that allows people to download illegal or, at the very least, unauthorised copyright-protected content. It is effectively a search […]

The impact of the ‘gig economy’ on labour laws

26. June 2017 | The expansion of the ‘gig economy’ is riddled with legal and fiscal pitfalls for those workers deemed self-employed. Is it time that the legal framework governing this business model brings parity with the rights of those with “permanent” employment contracts. On the 1st May, 2017, the Work and Pensions Committee of the UK Parliament published […]

Strict regulations to manage a booming economy

9. May 2017 | On 31st March, 2017, the President of India gave his assent to the Indian Finance Bill 2017 to become the Finance Act 2017. Important changes have been made to the Income Tax Act (see below) applicable from 1st April, 2017, pertaining to the assessment year 2018 – 2019. Penalties for exceeding cash dealing limits are high so it is crucial that the ever stricter legal provisions be adhered to.

International taxation barometer – Cashless and digital payment systems: a trend and its consequences

5. September 2016 | Berlin, 05. September 2016 – The use of cash is in decline the world over, whilst digital payment systems, such as electronic cash (where the transaction is paid for directly from the buyer’s account via his or her debit card at the POS terminal in combination with a PIN), credit cards and electronic fund transfers […]

Hungary: EU General Data Protection Regulation

19. July 2016 | The European Parliament and the Council have adopted Regulation (EU) 2016/679, the General Data Protection Regulation (‘GDPR’)

Italy: International aspects of BEPS and the perspective of SME’s

19. May 2016 | The initiative to combat base erosion and profit shifting (BEPS) carried out by the Organisation for Economic Co-operation and Development (OECD) and the G20 has been a hot topic in today’s tax world.

The new buzzword: Digital Disruption

25. November 2015 | Digital Disruption sounds scary, but it is nothing to be feared. Instead, we should embrace it and see it as representing both challenges and opportunities for the future.

Israeli high-tech financing breaking records: $1.12 billion in Q2/2015

18. November 2015 | Interest and investments in Israeli high tech is rising, setting new records. China is playing a prominent role, and the US and Germany are also involved.

Budget 2015 – A safe and steady budget with a small business focus

21. July 2015 | In May 2015, the Coalition Government handed down its second budget.

E-commerce market is exploding

21. July 2015 | Worldwide Business-to-Customer (B2C) e-commerce sales have now reached 1.5 trillion US$ per year.

Ecovis provides tax and advisory services to UK start-up

8. June 2015 | UK: The client needed a reliable partner during the business formation process to provide specialist advisory services in the fields of accounting, taxation as well as legal services in Germany. We assisted the client in ensuring their UK operations are UK compliant. There will be an on-going management and financial reporting role. Currently, we are providing assistance in agreeing an employee contract template.

Revision of the Japanese Consumption Tax

15. May 2015 | The 2015 Tax Reform Package was passed by the National Diet on March 31, 2015. The Tax Reform contains a new imposition of the Japanese consumption tax on cross-border digital services provided on or after October 1, 2015, by overseas service providers to customers in Japan. The Japan Consumption Tax is similar to VAT or […]

Big March for SME – Changing business environment

15. May 2015 | In keeping with recent and ongoing changes in the business landscape, business is focusing on mobility rather than stability, and the service business has evolved accordingly. Globalization is the buzzword as geographic boundaries cease to exist. Business is competing for opportunities in an international arena. Because the world is connected in a single unit, any […]

Foreign companies – modalities of presenting the accounts file referred to in I of article L. 47 A of the book of tax procedures (LPF)

8. January 2015 | updated on 24 September 2014 1. The branch offices of foreign companies taxable in France are subject to the obligation of presenting their bookkeeping in electronic form as provided for in paragraph I of the article L. 47 A of the book of tax procedures (LPF). According to I of article L. 47 A of […]

Slovak tax news 3/2014

17. November 2014 | Approved amendment to the Income Tax Act, Approved amendment to the Excise duty on mineral oil, Methodical guideline to mini one stop shop, Increase of meal allowances, Regulations and Guidelines issued by MFSR, Methodical guidelines issued by the FRSR, Judgement of the Court of Justice C-605/12

China: New companies in China: Amended Company Law lowers the bar

13. May 2014 | Those who plan to register a company in the new Year of the Horse have good fortune on their side – for example in the amendment to PRC Company Law issued on December 28, 2013, and in effect since March 1, 2014.

eStore

22. April 2014 | Germany: Our client is one of the leading manufacturers of pen tablets, interactive pen displays and digital interface solutions. The head office is located in Japan. The German subsidiary is responsible for the European market.

New tax relief in the UK – Incentives for the creative sector

13. December 2013 | The UK Government defends the country’s pole position in high-quality productions. One thing we do really well in the UK is producing high-end television programmes like Downton Abbey, animation programmes such as Wallace & Gromit, and blockbuster video games such as the “Need for Speed” series. So when recently a number of high-profile and ostensibly […]

International Fiscal Policy Barometer: Tax offenders and tax exiles in the crosshairs

19. July 2013 | At a time of high national debt and tight budgets in many industrialised countries, the fiscal authorities are now in hot pursuit of tax offenders and greater pressure is being put on tax havens. This was reason enough for Ecovis to ask its international partner firms how the situation is developing in their respective countries […]

UK: Incentives for the creative sector

23. May 2013 | The UK Government defends the country’s pole position in high-quality productions.

Budget 2012

28. November 2011 | Main Highlights & Proposals As per our continuous assistance to our existing clients and potential new ones we are summarizing the main highlights and proposals passed this month during the Budget speech for the coming calendar year 2012. Key or High Quality Labour – Income Tax Incentives In 2011, incentives were announced in the financial […]