Business Valuation
A business valuation is the process of determining the economic value of an enterprise, giving business or potential owners an objective estimate of the value of a business. Business valuations are not an exact science and valuation experts must exercise significant professional expertise and judgement when making their assessments. Business valuations have an important role […]
E-invoincing in Guatemala
Electronic Invoices [by the initials in Spanish] – FEL – promote greater agility in accounting records and in Guatemala since January 1st, 2023 FEL will be the only means available for the issuance of tax documents. Since July 1st, 2022, all taxpayers of the General VAT Scheme are incorporated, and Small Taxpayers who were not yet registered in the […]
US corporate tax rate increase: What companies must expect in the future
On 28 March 2022, the US Treasury Department issued “General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals.” This is President Biden’s second “Green Book” detailing the administration’s tax policy proposals. The most important proposal for companies is the possible increase in the corporate tax rate from 21% to 28%. The tax provisions of […]
OIB in Croatia: Prerequisite for doing business in Croatia
Croatia is introducing a personal identification number, called OIB (Croatian: Osobni identifikacijski broj). It is allocated free of charge by the authorities. It is a prerequisite for starting business activities in Croatia. The personal identification number will provide permanent identification of each natural person or legal entity. It will be used by public authorities in […]
Malaysia Digital Economy Corporation: SME Digitalisation Grant available
Companies in Malaysia can receive a government subsidy of 50 percent, up to a maximum of MYR 5,000, to digitalise their business processes. Interested companies can apply until 17 February 2025. The experts at Ecovis in Kuala Lumpur know who is eligible and how the application process works. The SME Digitalisation Grant is an initiative by the […]
International sanctions on Russia and Belarus: Legal requirements and risk management
The obligations imposed by the European Union’s (EU) restrictive measures (sanctions) are binding for EU nationals or persons located in or doing business in the EU. Fines may be imposed by EU Member States for non-compliance or breaches. The sanctions encompass making funds or economic resources available, directly or indirectly, to sanctioned persons and participating, […]
Polish employment law termination: Stricter requirements
Polish employment law is being changed. With the new law, the legislator wants to eliminate unequal treatment when terminating fixed-term employment contracts compared to permanent contracts. The Ecovis experts know what companies must consider in the future. The Polish Ministry of Family and Social Policy is currently preparing an amendment to the employment law to adapt the […]
China new market entity regulation: What companies need to know
Following the introduction of the new civil law at the beginning of 2022, a new regulation concerning market entities has recently come into effect. It will simplify different administrative processes for market entity registration. Although it primarily concerns Chinese companies, it may also become important for foreign investors and their subsidiaries in China. A year […]
New compliance regulations in Spain: Multinational companies need to adapt their corporate policies
European and national regulations mean that companies in Spain must prepare to implement numerous procedures in various departments, i.e. human resources or facilities management. Spanish authorities issuing first fines Spain is developing a full legislative framework with its own national components and rules (which in some respects vary from European rules) and, more importantly, the […]
E-invoicing Vietnam: Companies only have a few more days to register
From 1 July 2022, all companies in Vietnam will be required to use e-invoices (Tax Administration Law No. 38/2019/QH14). The mandatory introduction of e-invoicing is one of the most important parts of the digital transformation. Therefore, the Vietnamese government has taken numerous measures to support companies with the introduction and implementation. The Ecovis advisers have […]