Audit, Advisory, Transfer Pricing and M&A Consultants in Madrid
About us
The Audit & Advisory, Transfer Pricing and M&A office ECOVIS Audit Madrid Grosclaude & Partners began its activities on 1990. It is an independent auditing and consultancy firm focused on domestic and foreign companies located in Spain.
WKO Advantage Austria: Ecovis China are trusted experts for Chinese legal, tax and financial insights – a case study
15.07.2024
WKO Advantage Austria has built a long-term and successful business relationship with ECOVIS Richard Hoffmann Law Firm & ECOVIS Ruide Shanghai, led by partners Richard Hoffmann and Pingwen Hu.
WKO Advantage Austria (WKO is the Austrian Economic Chamber), the leading organisation supporting Austrian businesses abroad, is at the forefront of providing in-depth information and strategic insights into various international markets. Their focus is on promoting economic connections and assisting Austrian companies in their global expansions.
By leveraging the global Ecovis network with its specialist expertise, WKO and Ecovis have together created the China Specialist Report – Taxes and Accounting (China Fachreport – Steuern und Buchhaltung), which offers in-depth insights and updates on tax, accounting, and bookkeeping in China. This report has been an indispensable tool for companies operating in the Chinese market for over a decade.
The positive feedback from WKO Advantage Austria underlines our commitment and professionalism in supporting our clients in their international business endeavours. Richard Hoffmann, Lawyer, ECOVIS Rechtsanwaltskanzlei Richard Hoffmann, Heidelberg, Germany
Dr. Michael Berger, Commercial Counsellor explains: “For more than two decades, Ecovis, especially the Partners Richard Hoffmann and Pingwen Hu, have been pivotal figures in our legal, tax, accounting and auditing consulting network. Their commitment and comprehensive support have solidified them as trusted allies for our organisation.
Their extensive expertise and deep understanding of the Chinese business landscape ensure that the tax guide is not only comprehensive and accurate, but it is also presented in a highly accessible manner, contributing to its widespread popularity among readers. We are very grateful for the continued support and professionalism exemplified by Mr Hoffmann and Ms Hu.”
For further information please contact:
Richard Hoffmann, Lawyer, ECOVIS Rechtsanwaltskanzlei Richard Hoffmann, Heidelberg, Germany
Email: richard.hoffmann@ecovis.com
VAT Finland: The changes companies need to prepare for
15.07.2024
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.
The changes will affect various sectors differently and require careful preparation and efficient business management. It is essential to understand their impact and plan accordingly. The Ecovis experts know that effective management and proactive preparation will help businesses adapt to the new VAT rates and maintain their competitiveness in the market.
Key changes to VAT in Finland
Increase in standard VAT rate: From 1 September 2024, the standard VAT rate will increase from 24 to 25.5 percent. This affects all goods and services not covered by reduced VAT rates.
Changes in reduced VAT rates: The reduced VAT rate of 10 percent will increase to 14 percent, except for newspapers and periodicals. This change affects books, passenger transport, accommodation services, pharmaceutical products, and admission fees to cultural and entertainment events.
We can help you to maintain the competitiveness of your company despite new VAT regulations in Finland. Jaana Palomäki, CEO, ECOVIS Finland Oy, Helsinki, Finland
How to prepare for the changes
Efficient management: Businesses must update their accounting and invoicing systems to reflect the new VAT rates. This may require software updates and staff training on new procedures.
Pricing strategy: It is essential to assess the impact of price increases and communicate to customers why prices are rising. Reviewing your pricing strategy helps minimise the risk of reduced demand.
Financial planning: Companies should update their financial forecasts and budgets to align with the new VAT rates. This helps maintain cash flow management and anticipate potential economic impacts.
Consultation and support: It is advisable to consult a tax expert to understand the implications of the changes and ensure compliance with the new regulations.
ECOVIS OC Law Facilitates Successful Market Entry for Leading Native Advertising Pioneer in Vietnam
05.07.2024
I. Background
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.
II. The challenge
To expand into the Vietnamese market, our client needed to establish a subsidiary and sought a local law firm with in-depth knowledge of Vietnamese laws and business practices. They required services that met international standards and experience in working with foreign partners. ECOVIS OC Law was selected for its comprehensive support in the areas of incorporation, local tax compliance, labour and reporting services in Vietnam.
III. Solution
ECOVIS OC Law successfully assisted the client in their Vietnamese investment by providing comprehensive support in several key areas:
Investment Structuring: Tailoring the investment structure to meet the specific needs of the online advertising business.
Legal entity formation: Facilitating the legal entity incorporation process.
Ongoing compliance: Ensuring ongoing compliance with Vietnamese laws and regulations.
Representation: Representing the client in interactions with authorities and necessary engagements.
With extensive experience and a professional team, ECOVIS OC Law effectively facilitated the client’s subsidiary establishment and business operations in the Vietnamese advertising market. The client expressed high satisfaction with the quality of services provided.
IV. Success
ECOVIS OC Law continues to provide high quality, internationally standardised legal services, local tax compliance and reporting to our clients. Our strong working relationships with our clients have established our reputation and credibility among legal practitioners in Vietnam and the international community.
Explore how ECOVIS International can support your business expansion with expert legal services in Vietnam. Contact us today for a tailored solution to your business needs.