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The Law No1414 «On financial restructuring» came into force in autumn 2016. Since then 25 cases were initiated resulting in restructured debts for the general amount of USD 1,35 billion, [...]

Following a temporary suspension period last year, the guidelines for the VAT treatment of hiring of Pleasure Yachts (the 'Guidelines') have been recently published just in time for the kick-off [...]

Broader indirect tax challenges In our 32nd article in a series of articles on the tax challenges of the digital economy, we shall be providing you hereunder with a brief [...]

Broader indirect tax challenges In our 31st article in a series of articles on the tax challenges of the digital economy, we shall be providing you hereunder with a brief [...]

There has been a lot happening in Asian taxation. Hong Kong is launching its treasury centre tax incentive, while in China, some of the major developments include abolishing business tax, [...]

Operating or thinking about expanding your business to Germany in the near future? Here are some recent German law changes that may affect you. Understanding the German legal and regulatory [...]

The EU Advocate General's opinion in relation to Polish company Aspiro SA may impact the practice of outsourcing claims handling by insurers. Claims handling intermediary services within the insurance sector [...]

In its Answer to Tax Consultation No. 188/2015, published in the Official Gazette on September 14th, 2015, the Federal Revenue Office clarified the formalities and elements required for its classification [...]

Recognising the need for reliable, up-to-date knowledge of VAT/GST across the globe, Bloomberg BNA has recently launched a new reference work - the VAT Navigator - to assist businesses with [...]

The Chancellor announced that he was going to be tough but fair in the budget today. Everyone will have their own views on this. In particular public sector workers, who [...]

No I'm not talking about the rise to 5% on high end residential property which kicks in next year. Rather this was a hidden change which will affect commercial property [...]

As the Coalition Government puts the final touches to its Emergency Budget we examine the prospects for changes in the UK tax system to be announced next week. Capital gains [...]

What won't be in the Budget? There are of course lots of things that won't make it into the Budget - including the possibility of an increase in the VAT [...]

VAT rate to return to 17.5% (as expected) In his pre-Budget report, the Chancellor confirmed that, as planned, the VAT rate will return to 17.5% with effect from 1 January [...]

For those of you left feeling a little underwhelmed by the 2.5% reduction in VAT, we offer advice on further VAT reductions and refunds. Most businesses in the financial sector [...]

PwC Reports Draft guidelines on tax audit procedures on transfer pricing issues Introduction The Ministry of Finance has issued comprehensive draft guidelines to complement the German legislation on transfer pricing [...]

I. Summary Effective January 1, 2004, the German Tax Legislation has been amended. For foreign investors, the tightened thin capitalization rules are certainly the most important changes. First, the debt [...]

Introduction As we enter 2004 and the Year of the Monkey, China is facing increasing pressure from the rest of the world to revalue its currency and to remove other [...]