Economy and vision

China’s Cryptocurrency and Blockchain Regulatory Environment

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 …

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

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 …

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VAT refund available on construction works in Turkey

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, …

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