Australia The Federal Court’s ground-breaking ruling against Chevron Australia Holdings Pty in 2017, encouraged the Australian Taxation Office (ATO) and the government to amend the law on thin capitalisation and transfer pricing and more actively pursue large multinationals. But even smaller companies which operate in Australia or wish to settle there, must prepare for the …

The Wins Keep Coming for the Australian Taxation Office Вижте повече »

ECOVIS Wingrave Yeats recently registered as a non-US registered firm with the Public Company Accounting Oversight Board (PCAOB) in order to ensure that our UK audits meet the needs of all stakeholders in future. Luckily, we have a culture of embracing change at Ecovis in the UK because it looks like it could be a …

Changes to be navigated by Ecovis UK over the coming years Вижте повече »

USA As global economics have prospered due to increasing cross-border trade and international business transactions, the US government has introduced new tax regulations governing how these transactions are accounted for. Here is a description of two of the many forms now required to be filed by taxpayers with foreign business transactions or foreign related parties. …

New Reporting Requirements for International Transactions in the US Вижте повече »

China   In the western part of the world, China is notorious for manufacturing and selling counterfeit branded products. This raises the question of whether it makes any sense to register a trademark in a country like China. A trademark is primarily used to market products and services. It can consist of a word, a …

Brand Protection: The US fashion brand Supreme wins trademark rights in China Вижте повече »

17.05.2019 In China, transactions in cryptocurrencies are heavily regulated. Ashley Tian of Ecovis, Beijing, explains the limitations and effects in this article.For further information on the topics mentioned in this article, just klick on the corresponding footnotes. Background Prior to 2017, China had the world’s largest cryptocurrency market – with 80% of bitcoin, the world’s …

China’s Cryptocurrency and Blockchain Regulatory Environment Вижте повече »

17.05.2019 Big data is not only revolutionizing business strategies and product development but has also made its appearance in the auditing field. In order to be able to offer its clients an even higher standard of effective and efficient services, Marcum LLP has adopted the use of analytics tools in its auditing practices. An auditor has the …

Data Analytics and the Evolving Audit Вижте повече »

17.05.2019 In recent years the Turkish tax authorities and courts have been in dispute as to whether exchange rate differences are subject to VAT. Now an amendment to the applicable law provides greater clarity. The influence of exchange rate differences on the financial performance of an economic unit is significant. Companies may have payables, debt …

Amendments to the Value Added Tax Law of Turkey Related to the Exchange Rate Difference Вижте повече »

VAT taxpayers can qualify for a VAT refund on their investment expenditures under article 13-d of the Value Added Tax Act No. 3065. The VAT refund is only applicable for machinery and equipment expenditure made under an investment incentive certificate for the manufacturing industry. Temporary Article 37 of the Value Added Tax Act No. 3065, …

VAT refund available on construction works in Turkey Вижте повече »