Government measures to end exchange rate volatility in Turkiye
The Turkish government is seeking a way to end exchange rate volatility. As a result, a new package was announced on 21 December 2021 which promises significant tax advantages. Natural persons and corporations are able to benefit from this regulation. For institutions that convert the foreign currencies in their balance sheets into Turkish lira deposit […]
Tax on Vietnam Cross Border E-Commerce Activities
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 […]
German supply chain due diligence act: EU Directive and German law in comparison
In future, large companies in Germany will have to carry out a careful risk analysis to determine whether violations of human rights or environmental standards have occurred in the past or are to be expected in the future. This is the core aspect of the Supply Chain Due Diligence Act (LkSG), which will come into […]
Forecasting as a planning tool: Using new decision-making tools
Forecasts help leaders to make business decisions quickly and with foresight. The Ecovis experts know how companies can use this management tool effectively. In recent years, the increased sophistication and accessibility of cloud-integrated forecasting and reporting tools has led to a significant shift towards integrated three-statement models. Integrated models have now become the norm and an expectation […]
Foreign Documents: Consular Legalization Vietnam
Foreign Documents: Consular Legalization Vietnam 25. August 2022 In recent years, Vietnam has developed and optimized policies to support and therefore attract more foreign investors. One important procedure that foreign investors need to perform when planning to invest in Vietnam is the consular legalization of foreign documents. 1. Except Documents [1] Certain types of foreign documents […]
M&A Poland: Interesting perspectives for companies willing to buy
M&A activity has entered a new, exceptional period. In Poland, the economic crisis is just beginning, with inflation now exceeding 14% (the European average is 9%) and the slowdown in economic growth is noticeable, with even the threat of stagflation. Even if the economy is in crisis, it is still an extremely good time for […]
Vietnam Minimum Wage: Updated Salary Policy
Statutory Minimum Wage per Month There has been an increase of the statutory minimum wage per month in Vietnam [1]. On 12 June 2022, the Government issued a new order (Decree 38/2022/ND-CP) prescribing statutory minimum wages paid to employees working under labour contracts. Accordingly, the statutory minimum wage per month has increased by an average of […]
Tax Incentives in Vietnam for Software Services and Software Products
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, […]
The four most relevant pillars for good corporate governance
Hand in hand with globalization, the concept of Corporate Governance has been implemented in an accelerated manner, understanding that it is undoubtedly a tool for competitiveness, where the objective is to ensure the proper management and administration of companies, protect the rights of investors and other interest groups, it is not just a set of […]
What is inflation?
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 […]