Manufacturing, Logistics, Trading, Service, Agriculture, etc.

Welcome to our international accounting, tax, audit, and legal network, where we specialize in facilitating the success of global players in traditional industries such as manufacturing, logistics, trading, service, agriculture, and other pre-digital revolution industrial areas.

At ECOVIS International, we understand the critical role that international mid- and large-sized multinational companies play in the global economy. We understand their needs and requirements for reporting, internal reviews, and audits, including the transition and transformation towards a modern and complex environment, the need for compliance, and the regulatory compliance for various jurisdictions (i.e., AML, Transfer Pricing, GDPR, DAC6, etc.). Our global network of experts is dedicated to providing tailored accounting, tax, audit, and legal solutions that empower international logistics companies to optimize their operations, reduce costs, and enhance compliance in a rapidly changing world.

Join us as we explore the world of “International Logistics Companies.” Let’s embark on a journey to streamline global logistics, ensuring that goods and services reach their destinations efficiently while you stay ahead in a competitive industry.

News about “Manufacturing, Service, Trading”

Portugal’s new tax measures: State budget for 2025

18. December 2024 | The Portuguese state budget includes some new tax measures. These include the exemption of income tax for young people and the gradual reduction of corporate tax for companies. The Ecovis experts explain the details of the 2025 state budget.

Vietnam’s banking sector: Substantial innovations in Vietnam’s credit operations

10. December 2024 | Vietnam's banking sector is changing. The Vietnamese government has therefore passed a law for credit institutions. It aims to strengthen the regulatory framework for credit institutions and improve consumer protection. The law came into force on 1 July 2024. Ecovis consultants explain the background and details.

Taxes in Slovakia: Recent changes to legislation

5. December 2024 | In recent months, Slovakia has implemented several changes to legislation concerning corporate income tax and value added tax. A new financial transaction tax has also been established. The Ecovis experts explain the main key points of changes in taxes in Slovakia.

Invest in Kosovo: Brief economic overview

4. December 2024 | Kosovo is one of the youngest countries in Europe with a lot of potential. With an annual GDP growth rate of around 4%, a skilled workforce and a business-friendly climate, Kosovo is interesting for companies and investors. The economy is primarily driven by services. They account for more than half of GDP, followed by industry and agriculture.

How to manage tax risk in China

2. December 2024 | Companies, as well as private individuals, must manage their taxes in order to be able to identify and contain potential risks. The penalties for mistakes are harsh and fearsome. The Ecovis experts explain how tax risks can be managed in China.

Global minimum tax Brazil: Government proposes additional taxation

29. November 2024 | Multinational companies with a global annual turnover of more than EUR 750 million will have to pay an additional social security contribution on their net profits (CSLL) in Brazil from the 2025 tax year. Affected companies should therefore review their tax planning strategy. The consultants at Ecovis know the details of the new global minimum tax.

Corporate law in China: Liability risks under the new law

28. November 2024 | As of 1 July 2024, China's revised corporate law imposes stricter liability rules for directors and board members, significantly heightening personal accountability for violations of duties and laws. This change amplifies transparency and due diligence obligations while subjecting directors to stricter oversight.

Short term rental regulations Czech Republic: What landlords need to consider in the future

26. November 2024 | In October 2024, the Czech Ministry of Regional Development issued a regulation on short-term rentals. The new methodological guide to clarify the rules for short-term rentals applies in particular to apartments offered on platforms such as Airbnb. The Ecovis experts know what landlords must prepare for.

Uruguay free trade zone: A unique opportunity to invest

25. November 2024 | Free trade zones are particularly well-known and popular because of their tax advantages. In Uruguay, a company that operates in a free trade zone is exempt from paying all current or future national taxes. The Ecovis experts know what other advantages there are for multinational companies that want to settle in a free zone.

Company secretarial services Poland: Helping you deal with regulatory challenges

21. November 2024 | In the current business environment, companies face numerous challenges from regulatory obligations or simply from following the basic rules of corporate governance. This is what happened to an Ecovis client from Asia who wanted to start business activities in a sensitive sector in Poland and resorted to company secretarial services (CoSec) – a case study.

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.

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.

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.

ECOVIS OC Law Facilitates Successful Market Entry for Leading Native Advertising Pioneer in Vietnam

5. July 2024 | Our client, a subsidiary of a leading multinational company based in Singapore, is a global pioneer in native advertising. As they expand their innovative revenue growth solutions across the advertising ecosystem, they rely on ECOVIS OC Law for expert legal support in Vietnam.

Smooth Sailing into Vietnam: Ecovis Facilitates Seamless Expansion for German Logistics Leader

4. July 2024 | Our client in Germany, a major player in the logistics sector, was looking to expand its operations into Vietnam. To ensure a seamless and compliant establishment in this new market, they turned to Ecovis for expert assistance.

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.

CSR Luxembourg: The auditor’s vital role in implementing the EU Directive

27. June 2024 | The draft law to implement EU Directive 2022/2464 on corporate sustainability reporting (CSRD) into national law has been submitted to parliament in Luxembourg. The Ecovis experts explain what changes companies can expect and the special features of the Luxembourg draft law.

Poland minimum tax: The global (Pillar Two) and the local version

25. June 2024 | Poland has started work to implement a global minimum tax (Pillar Two) which is a European Union initiative to ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the EU.

Vietnam Manufacturing Companies: How to set up a Company in Vietnam

25. June 2024 | Vietnam’s burgeoning manufacturing sector plays a pivotal role in its export-driven economy, attracting international companies with favourable conditions for foreign ownership. The experts at Ecovis Vietnam advise what you need to know before establishing a manufacturing company in Vietnam.

Minimum wage Vietnam: 6% increase from 1 July 2024

3. June 2024 | The Vietnamese Ministry of Labour, War Invalids and Social Affairs (MOLISA) is drafting a decree regulating the minimum wage for contracted employees. MOLISA is proposing an increase of 6% compared to the current level, applicable from 1 July 2024. The Ecovis experts explain the details. Currently, the minimum wage for contracted employees is set out […]

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 […]

Prohibition of Non-Compete Agreements: FTC’s new rule

23. May 2024 | On 23 April 2024, the US Federal Trade Commission (FTC) adopted a final rule, by a majority of one vote, that will prohibit companies nationwide from entering into or attempting to enforce non-compete agreements with employees or officers. The final rule will become effective 120 days after its publication in the Federal Register.

How to pay in China: China’s cashless revolution – a guide to new payment options

13. May 2024 | Foreign employees and visitors in China can now pay with international cards, such as Mastercard or Visa, by scanning QR codes online or directly on site. The Ecovis experts explain the new cashless payment options.

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 […]

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.

China cross-border data transfer: Navigating legal complexities

7. December 2023 | Stricter regulations for cross-border data transfers, such as risk impact assessments, now apply in China. The Ecovis experts explain what companies that transfer data need to consider.

Real Estate Peru: Preoperative expenses and income tax

7. December 2023 | In cases where a company has carried out a specific real estate project and then chooses to continue with its economic purpose and carry out new projects, the question arises as to whether the expenses related to the latter can qualify as preoperative expenses under income tax law.

France’s tax haven list: Updates expected

1. December 2023 | The French government has its own blacklist of tax havens. From a French perspective, transactions with non-cooperative states and territories are heavily taxed or treated differently. As of May 2023, there are 14 countries on this list and at least two more will be added in 2024. Some countries may also disappear from the list. […]

EU Minimum Tax Directive: Malta delays implementation of minimum 15% corporate tax

27. November 2023 | Malta is making use of the Minimum Tax Directive exemption and postponing the application of the income inclusion rule (IIR) and the undertaxed profits rule (UTPR) beyond 2024. Additionally, the Maltese government will not introduce a qualified domestic top-up tax (QDTT) in 2024.

MiCa regulation 2023: Stablecoins and e-money tokens issuance

27. September 2023 | The EU’s Markets in Crypto-Assets (MiCA) regulation provides long-needed legal clarity for the the crypto market. Among other things, MiCA provides a comprehensive framework for the operation, structure and governance of crypto-asset issuers and service providers by establishing a uniform EU regulatory regime that will supersede national laws. The Ecovis experts in Lithuania explain the details of MiCa regulation 2023.

Pharmaceutical industry in Malta: The Bolar exemption and pharmaceutical innovation

21. July 2023 | The pharmaceutical industry in Malta is thriving, thanks in part to the early introduction of the Bolar provision. Companies wanting to become active in Malta can rely on numerous incentives. These range from loans and subsidies to facilitate access to finance and investment grants to the provision of industrial sites and regulations to promote research […]

Tax policy in Vietnam: Extension of Payment Deadlines for Tax Payables and Land Leases in 2023

29. May 2023 | The Vietnamese government has taken tax policy measures to relieve the economy after the Coronavirus pandemic. This includes a package of deadline extensions for tax payments and land leases. The decree came into force on 14 April 2023 and is valid until 31 December 2023. As part of various measures to promote the economy, the […]

Setting up a Business in India for Foreign Companies

17. March 2023 | Given India’s rapidly growing market, the country’s investment potential has enticed a slew of foreign companies to establish their presence in India. Over the last few years, initiatives have been taken to ensure that establishing a business in India is more straightforward and foreign companies are encouraged to invest in the country.

Tax changes in Vietnam

8. February 2023 | The Vietnamese government has amended some articles of Decree No. 91/2022/ND-CP (Decree 91), made additions to corporate tax or income tax, and changed rules for online trading. Companies must comply with the new rules from when Decree 91 came into force on 20 October 2022. The Ecovis team summarise some notable points. 1. Changes to […]

Malta Startup Residence Programme – An opportunity for budding entrepreneurs

1. December 2022 | The Maltese government has launched the “Malta Startup Residence Programme”. Under the programme, non-EU citizens will receive improved start-up conditions, such as a residence permit for up to eight years, if they do business and pay taxes in Malta. The Ecovis consultants know what is required of entrepreneurs.

Starting a Business in Australia

11. November 2022 | Case Study Background Danish Co is a Significant Global Entity (SGE) with extensive experience in the mature European energy trading market and was seeking to expand into the younger Australian market and the opportunities this presented. Ecovis Sydney was contacted by this Danish energy trading company, investigating the potential participation in the Australian energy trading […]

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, […]

Forecasting as a planning tool: Using new decision-making tools

26. August 2022 | Forecasts help leaders to make business decisions quickly and with foresight. The Ecovis experts know how companies can use this management tool effectively.

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, […]

What is inflation?

18. August 2022 | Inflation and deflation are economics terms used to describe an increase or decrease in the value of money, relative to the amount of goods and services that money can buy. Financially, inflation is the reduction in the value of the purchasing power of a monetary unit, which manifests itself when an individual purchases significantly fewer […]

Cybercrime Germany – increasing prosecution for a worldwide phenomenon

23. June 2022 | In 2021, the police registered more than 146,000 cyber-attacks in Germany alone. To be able to identify and convict the people behind these attacks, which were often launched from abroad, the German public prosecutor’s offices are upgrading and investigating together with the local authorities abroad.

Protecting intellectual property in China: How to protect your know-how.

16. May 2022 | Companies often invest a lot in the development of products or technical inventions. But there is a great danger that others will use these technologies for themselves and thus secure competitive advantages – at the expense of the inventors. What needs to be considered to effectively protect intellectual property in China? The Ecovis experts know […]

Tesla’s Next Super Factory: What Does This Mean for China?

5. May 2022 | Where will Tesla’s second super factory be located? This question has, once again, attracted attention worldwide. In January, Elon Musk declared that this year he would announce the location of Tesla’s fifth super factory. Tesla currently has two local super factories, in Nevada and New York, as well as two overseas super factories in Shanghai, […]

Invest in Cambodia: The Importance of Financial Due Diligence

28. April 2022 | Tourism, together with clothing manufacturing, construction and agriculture, is one of the four key sectors supporting Cambodia’s economic expansion.

Vietnam: VAT rate reduction and CIT deduction

28. March 2022 | A reduced VAT rate has been in effect in Vietnam since 1 February 2022. In addition, companies can make certain deductions to corporate income tax. With these measures, the government aims to promote socio-economic recovery and economic development.

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.

Construction in Cambodia: A tense situation since the coronavirus pandemic

26. January 2022 | Output in the Cambodian construction sector fell massively in 2021, also as a result of the corona pandemic. Good cash flow and procurement management is important to mitigate the impact on businesses. The Ecovis experts explain how this can work.

Start-Up Business in Pakistan

8. December 2021 | In recent years, there has been strong growth in start-ups in Pakistan. According to the Security and Exchange Commission of Pakistan (SECP), the country has moved up in the World Bank’s Ease of Doing Business Index for the second consecutive year since 2019, going from 130th to 72nd in the ‘Starting a Business’ category.

Accounting Firms in Australia: ECOVIS Clark Jacobs makes the Top 100 Firms

25. November 2021 | ECOVIS Clark Jacobs has again been named in the Australian Financial Review’s Top 100 Accounting Firms, ranking #58 for 2021. Published each year in November, the AFR’s list ranks accounting firms by total revenue for the financial year, but also examines revenue growth, new partners and number of graduates. They also review the industry trends […]

E-Commerce Vietnam: Stricter Regulations Proposed on the Sector

1. September 2021 | The E-Commerce sector is developing at an accelerated rate due to the effects of the industrial revolution 4.0. Because of this, amending the legal framework of this sector under the current Decree 52/2013/ND-CP dated 16 May 2013 of the Government (“Decree 52”) is essential.

PCC Tax Poland: Regulations for Share Transactions Executed Abroad

28. June 2021 | Contracts for the sale of property rights concluded in Poland are legally subject to the Tax on Civil Law Transactions (PCC). However, the law is very broad. It includes the sale of “things or rights with an economic value”.

Greece Income Tax: New Amendments to the Greek Tax Framework

14. June 2021 | The Greek Parliament has passed a draft law (L. 4799/2021) amending the country’s tax law. With this, the legislator is significantly reducing the corporate tax rate and income tax prepayments and, from 2022, the solidarity contribution for certain types of income.

How to Sue a Company in China: Tackling Litigation Properly

17. May 2021 | If there is trouble with Chinese companies, for example because ordered products are not delivered on time, trading partners can consider filing a lawsuit. However, this must be thought through well in advance and contractual details must be analysed.

Cross Border eCommerce in China

7. May 2021 | In recent years, due to the huge potential of China’s consumer goods market, more and more global retailers have turned their attention to China. Ten years ago, not only were there fewer choices of goods, the payment and after-sales service were both extremely inconvenient and ineffective. With the rise of the e-commerce industry, not only […]

StaRUG: Act on the Stabilisation and Restructuring Framework for Businesses

20. April 2021 | The new German Act on the Further Development of Restructuring and Insolvency Law, or SanInsFoG, was passed in 2020. SanInsFoG changes insolvency law and introduces the new Act on the Stabilisation and Restructuring Framework for Businesses (StaRUG), which came into force on 1 January 2021.

Preparing for Brexit: Our Guide Shows What Companies Should Do

19. November 2020 | 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 […]

Presidential Elections, Tax Chaos

12. October 2020 | 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 his administration to set the legislative agenda. Tax provisions proposed by the two candidates will […]

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 […]

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 […]

COVID-19 Economic Relief Package for Micro, Small and Medium-Sized Enterprises in India

24. August 2020 | 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 medium-sized enterprises (MSMEs). Around 60 million manufacturing and service units are registered under this category, […]

Government Support for Businesses in Vietnam – Fighting COVID-19

29. June 2020 | 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 growth of 2.7 percent. The rating agency Moody’s expects 2.8 percent growth in 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 […]

Signs of Insolvency During COVID-19: Identifying Insolvency and Taking Steps to Avoid it

24. April 2020 | 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 law and measures introduced by the UK government?

Corona-Pandemic: Immediate Taxation, Legal Measures and Financial Aid in New Zealand, Malaysia, Nepal and Vietnam

1. April 2020 | 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. Our experts summarise the most important points.

New Developments in Export Control in China

26. March 2020 | 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 products (the “current regulations”).

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.

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 […]

Free online workshop: Financial Licensing and Passporting in Europe

9. October 2019 | 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 for entering the EU market through eastern countries are pretty low. Hence, the region has […]

The Wins Keep Coming for the Australian Taxation Office

30. September 2019 | 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.

Finance Institution and FinTech Licensing in Single European market

26. September 2019 | 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.

Ecovis is now represented in Nepal

25. September 2019 | Ecovis welcomes its new partners from ECOVIS PYC & Associates headquartered in Kathmandu. ECOVIS PYC & Associates was founded by Mr Yuddha Raj Oli over a decade ago. Today the firm is run by two partners and has a total staff of 50 among them 12 CPAs. The team of ECOVIS PYC & Associates is […]

Brand Protection: The US fashion brand Supreme wins trademark rights in China

2. September 2019 | 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.

Germany: Warning to online traders!

19. July 2019 | Online trading is becoming ever 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 Value Added Tax Act (UStG). Without this certificate, trading via online platforms will be impossible. Ecovis can provide you with the information […]

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 […]

VAT refund available on construction works in Turkey

17. May 2019 | 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, […]

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 […]

Ecovis is now represented in Myanmar

19. December 2018 | We welcome our new partners from ECOVIS FAMAT Group headquartered in Yangon.

United Kingdom: Navigating the tax issues for a multi-jurisdiction crypto-business

12. October 2018 | Ecovis Wingrave Yeats (London) has recently engaged with a company which is raising capital through an initial coin offering (ICO) which it will then invest in a basket of established and emerging cryptocurrencies with masternode infrastructure.

Romania: Energy market regulation: providing value, creating synergies

12. October 2018 | The energy regulatory framework of Romania has evolved over the past 20 years from a highly centralised model to an essentially customer-centric system, with extremely liquid power markets, gas exchanges in formation and complex financial products and analyses that start to resemble those of the financial world.

Switzerland: Determination of the place of supply for vat purposes

21. August 2018 | Deliveries with installation to Switzerland: who takes on the role of importer of record? Making a clear distinction between a “contract for work, labour and materials” and a “delivery with minimal assembly and installation” is key here. In Switzerland, only a true importer with Swiss VAT registration may claim back import tax. An exception to […]

Barlow Robbins Solicitors, Ecovis’ UK legal partner, recruits life sciences partner

13. July 2018 | The UK has one of the largest life sciences markets in the world and the sector commands an important position within the UK economy. Barlow Robbins has recruited Tim Matthews as an additional partner in its Corporate and Commercial group. Tim has wide experience in the life sciences sector with over 25 years’ experience acting […]

Ecovis Sydney provides comprehensive start-up services to UK film company

4. June 2018 | Background In November 2012 KEO Films, which had recently won a contract to produce an Australian version of a UK TV series, was put in contact with Ecovis Sydney, because they needed to get their footprint established urgently, before Christmas!

Switzerland: New electronic notification system for exports and imports

22. March 2018 | From March 1, 2018, all businesses must notify the Swiss customs authority (EZV) of cross-border transactions of goods with Switzerland electronically. With regard to the export of goods from Switzerland: the Swiss VAT Law (SVATL) defines the place of delivery where the transport of the goods begins. Tax-exempt delivery therefore requires a correct export document. […]

Licensing of Fintech companies and Finance Institutions in single European market

6. September 2017 | Fintech companies, banks, payment service providers, electronic money institutions, insurance companies, investment funds and investment managers, securities and forex brokers, crowdfunding and peer-to-peer platforms, other finance institutions in Europe are subject to higher regulatory requirements. Licensing of the Finance Institution in one of the member states within the European Union (EU) opens business opportunities to […]

Greater access to Chinese market

8. August 2017 | If you are a foreign investor in China, we have got good news for you. And if you are not, it is time to think about expanding. The new negative list allows foreign businesses greater access to Chinese market. Since 2010, China’s economy has been slowing1. In 2013, to turn the tide, China started testing […]

Automobile production in future without any Chinese partners?

23. June 2017 | China pledges to end 50% cap on joint-auto ventures by 2025. On April 25th, 2017, several government agencies released the latest industrial plan for China’s auto industry.

Licensing offer for UK finance companies providing services in EU market

19. August 2016 | Lithuanian European finance institutions The licensing solution for UK based companies providing services in single european market Payment Institution licensing price starts from GBP 10 000 (EUR 11 500) Payment Institution licensing term of starts from 3 months. Banks, payment and e-money institutions, insurance companies, investment funds, securities brokers, forex companies and other finance institutions around […]

Slovak tax news 3/2016

19. August 2016 | The draft amendment to the Income Tax Act; the draft amendment to the VAT Act; the draft amendment to the Tax Administration Code; Criminal responsibility of legal persons Act; Judgement of the Court of Justice C -128/14.

European finance institutions registered in Lithuania

26. July 2016 | Licensing of banks, credit institutions, payment and e-money institutions, fintech companies, insurance companies, investment funds and investment management companies for the purpose of providing services in single European market.

China: Mutual dependence between China and Germany

19. July 2016 | China is borrowing ideas from the German concept “Industry 4.0” on how to adapt its slowing economy to encourage the service and consumer sectors.

The PRC centralizes RMB operations

10. February 2016 | Last year, the People’s Republic of China revised the policies already in place to further oil the wheels of cross-border operations for multinational enterprises active in the PRC.

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.

ECOVIS Bondar & Bondar Newsletter

10. September 2015 | Ukraine, Kyiv, August 2015

Ecovis assists electrical contracting business to avoid double taxation

11. June 2015 | New Zealand: Our client needed expert advice on appropriate Australian taxation options to specifically avoid double taxation and align its financial reporting periods from the Australian financial...

Professional Advice in English, Thai and Japanese

25. February 2015 | Ecovis welcomes new partners in Thailand, the 59th country in its international network.

International legal barometer – A detailed examination of statutory retirement pensions

20. January 2015 | Berlin, 20. January 2015 – Frequent upheavals on the finance markets and tight budgets in many countries are factors which are bound to affect options available with respect to financial provisions made for retirement. With this in mind, Ecovis asked its partners the world over whether statutory old age pension schemes existed in their respective […]

Make in India

19. January 2015 | India Inc. is geared up for a much needed change in the business environment in which it operates. “This is where it all begins. Everything starts here, today.” There is growing worldwide attention focused on India, attracted by the country’s young talent pool of 800 million under the age of 35, the third-largest economy in […]

Malta –Double Tax Treaty (DTT) Update: Russia

25. November 2014 | In order to encourage the growth of international trade including that of financial services, successive Maltese governments have sought to conclude DTT with important trading partners as well as with emerging countries. This policy is expected to continue in the future. To date, treaties are in force with 67 countries. more on www.ecovis.com/malta…

Leveraging the CEPA to enter the Chinese Market

10. November 2014 | Hong Kong’s free-trade agreement with mainland China offers an alternative avenue to the China market

Local Chinese Manufacturer

2. September 2014 | China, Beijing: Our client is a local Chinese manufacturing company located in the greater Beijing area. Their business is doing well but at times the client needs technical services to continue operations.

India: India Takes Steps to Improve Corporate Governance and Social Accountability

31. July 2014 | A land of paradoxes, India is home to the fastest growing economy in the world, at the forefront of IT and new glob-al advancements, and yet also home to massive poverty. In India, Small and Medium Enterprises have been at the front of India’s phenomenal growth story.

New Funding Structure for International Residential Property Company, Germany

25. July 2014 | Germany: Our client is an internationally structured company developing residential property in Germany and Austria. With more than 5,000 flats on about 170 properties, mainly in Vienna and Berlin, it is one of the most successful companies in this sector.

Manufacturing fortune 500 company: Employee Background check

4. April 2014 | China: The company was insecure about which person to employ as their new General Manager. They had to choose one out of three candidates they had interviewed before. Hiring and especially terminating labor contracts in China can be difficult and extremely expensive. Also, fluctuation rates in China are enormously high. Therefore research on candidates’ backgrounds becomes increasingly more important for companies operating in China to keep HR costs low.

A medium-sized German Manufacturing Company with Foreign Operations

4. April 2014 | Germany: A German company produces leather goods and sells them in Germany and abroad, mainly via the internet. Tax obligations as a German company for sales of goods outside of Germany were neglected. This led to tax compliance problems in different countries. The purpose of the project was to examine the tax obligations of a German company in countries where it is active and to ensure tax compliance.

Medium sized, highly specialized Manufacturing Systems Engineering Company

4. March 2014 | Germany: Due to the general financial crises orders have slumped, which lead to drastic financial problems, although it was planed to finanice the investments in a new manufacturing hall from the cash flow.

ECOVIS KGA Limited: Expanding the international partner network to New Zealand

14. August 2013 | Munich, 18. November 2013 – KGA Limited of Auckland, New Zealand, has joined Ecovis. The global consulting firm with its origins in Continental Europe is thus represented in 56 countries. Its consulting focus lies in the areas of accounting and auditing, tax, legal and financial advice. The new partner firm provides services in accounting, tax […]

Malta – Switzerland Income Tax Treaty

24. September 2012 | Status: In Force Concluded:  25 February 2011. Entered into Force: 6 July 2012. Effective Date: 1 January 2013 One of the latest additions to the long list of Double Taxation Treaties (DTT) entered into between Malta and other countries (currently 60 treaties in force) is the one signed with Switzerland which came into force on […]

Real estate in Austria – New tax regulations

22. June 2012 | Some things have stayed the same, but the changes require a closer look. Stability Act 2012 – Introduction of Real Estate Income Tax (“ImmoESt”) The Austrian Stability Act of 2012 brings with it new regulations for the taxation of real estate. There are new restrictions regarding the deduction of input tax in the case of […]

USA: New Cooperation Partner in Chicago, Illinois, Unites States of America!

14. May 2012 | Ecovis furthers its activities in the USA and has now a new cooperation partner in Chicage, Illonosis E. C. Ortiz & Co. LLP was established in Chicago as a sole proprietorship in 1974. The firm was restructured to become a limited liability partnership in 2003. The firm provides Assurance Services, Accounting Services, Tax and Consulting Services. […]