On 27 December 2019, Colombia approved a tax reform including a special VAT exemption: On 3 days during 2020, certain groups of goods, such as clothing, appliances and school supplies, are free of VAT. This applied to national purchases and […]
Author: Firma ECOVIS AG Steuerberatungsgesellschaft
Working and Living in Spain after Brexit: Benefit from the Brexit Transition Period
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Brexit has been a reality since 31 January 2020. It is the date on which the Withdrawal Agreement was finally approved by the UK Parliament. However, the Withdrawal Agreement set a transition period between 31 January and 31 December 2020. […]
Aviation Industry in Ukraine – Challenges and Opportunities
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Although the beginning of 2020 was marked by the worldwide spread of the COVID-19, which also had a strong impact on the aviation industry in Ukraine, its consequences for civil aviation will need to be assessed over time. The popularity […]
Foreign Workers in Israel – Immigration of Professional Experts
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The procedure for obtaining a work permit for foreign employees in Israel is complex and can be lengthy. Ecovis in Israel supports clients with an immigration package that includes: A list of the different permits to be obtained A detailed […]
Government Support for Businesses in Vietnam – Fighting COVID-19
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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 […]
Taxing the Digital Economy: Has Corona Cancelled or Postponed the Global Tax Revolution?
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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 […]
Insolvency Proceedings in Spain – Possible Alternatives for Companies and COVID-19 Impact
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The number of insolvency cases in Spain is expected to increase from the current figure of 6,000 a year, to more than 15,000 as a result of COVID-19. Spanish law provides a series of procedures for those companies which cannot […]
US Hybrid Mismatch Regulations
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The US hybrid mismatch regulations move multinational tax planning closer to a one-world approach to limit Base Erosion and Profit-Shifting (BEPS). With the changes enacted as part of the US Tax Cuts and Jobs Act of 2017 (TCJA), many of […]
Signs of Insolvency During COVID-19: Identifying Insolvency and Taking Steps to Avoid it
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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 […]
Russia Decreases Social Security Contributions for SMEs. Companies with Foreign Shareholders May be Affected
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Russia took a number of measures to limit economic consequences of the corona pandemic. One of them is a reduction of the level of social security contributions for small and medium-sized enterprises from 1 April 2020. Russian subsidiaries of foreign […]