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From ECOVIS Network: US Tax Reform

From ECOVIS Network: US Tax Reform

US Tax Reform: Focus on the Financing Considerations As part of the US tax reform (Tax Cuts & Jobs Act of 2017, or TCJA), the federal corporate tax rate was reduced from 35% to 21%. This sounds great, because this 21% rate can be further reduced to 13.125% according to the new rules for foreign

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License Issued, What Next?

License Issued, What Next?

Over the last few years, ECOVIS ProventusLaw has successfully guided more than thirty fintech companies through the licensing process in Lithuania. Fintech is a dynamic and rapidly developing business sector in Lithuania, with around 180 fintech companies currently operating in the country. The Bank of Lithuania is constantly receiving applications for electronic money and payment

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From ECOVIS Network: Greek Tax Reform and Tax Reduction

From ECOVIS Network: Greek Tax Reform and Tax Reduction

The Greek parliament passed an extensive tax package (L. 4646/2019) on 6 December 2019. The tax relief for private households, property owners and companies should clear the way for more investment. The tax cuts are also intended to bring foreign taxpayers with high net assets into the country. 4646/2019 is a new tax bill ratified

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From ECOVIS Network: The Czech Republic Controls Non-Compliance with European Data Protection Regulations

From ECOVIS Network: The Czech Republic Controls Non-Compliance with European Data Protection Regulations

The Czech Data Protection Authority, which monitors compliance with European data protection regulations in the Czech Republic, publishes information online about its control activities, its decisions and their effects on companies. Given the wide-ranging doubt and lack of clarity surrounding the application of the General Data Protection Regulation (GDPR) and the new Czech Personal Data

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From ECOVIS Network: New Taxation on Harmful Products in the UAE

From ECOVIS Network: New Taxation on Harmful Products in the UAE

The UAE Government wants to protect their citizens from harmful goods. Since 1 December 2019, the UAE has imposed an excise duty of 100 percent on electronic smoking devices and liquids used in such devices and an excise tax of 50 percent on sweetened drinks. Other harmful products have been subject to excise duties since

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From ECOVIS Network: UK – Arbitration or Litigation?

From ECOVIS Network: UK – Arbitration or Litigation?

Arbitration or Litigation? Choosing the Right Forum for Cross-border Disputes  Participants and parties to cross-border disputes, that is disputes of an international nature involving entities located within different jurisdictions, must choose the forum within which disputes are to take place. The choice of forum for resolving international disputes is either litigation or arbitration. In simple

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ECOVIS Romania – Legal Info – 09.01.2020

ECOVIS Romania – Legal Info – 09.01.2020

       Summary: The modification of the procedure for justifying the VAT exemption for the intra-community delivery of goods; The registry of goods stockpiled at client’s disposal; Split VAT; The coming into act of the Law no. 129/2019: It is introduced the mandatory registration of the real beneficiary in the Registry of Real Beneficiaries

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From ECOVIS Network: New Business Developments in China

From ECOVIS Network: New Business Developments in China

From our colleagues in Beijing, the newest montly update regarding the most significant business developments and trends in China: MonthlyUpdateDecember2019

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From ECOVIS Network: New Regulations in Turkey for Electronic Document Schemes

From ECOVIS Network: New Regulations in Turkey for Electronic Document Schemes

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 in

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From ECOVIS Network: United Kingdom – How a Heads of Terms Agreement Can Lead to a Binding Contract

From ECOVIS Network: United Kingdom – How a Heads of Terms Agreement Can Lead to a Binding Contract

It is a common misconception that where heads of terms are agreed upon, they do not give rise to a legally enforceable contract. There are numerous examples of where heads of terms may be agreed, but they are not intended by the parties to have legal effect. However, it would be incorrect to assume that

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