Finance Focus INANCE FOCUS

In this months Finance Focus we will be exploring;

EU VAT Changes in 2015 with KPMG: “Take it seriously. For most consumer businesses VAT is the biggest single cost to be deducted from gross revenue. The penalties for accounting incorrectly for VAT are severe in many countries, as much as 100- 200% of the mistake you make.”

New Tax & Legal Frameworks for Subsidiaries in Austria with LBG Austria: “When establishing a new business entity in Austria the choice of the proper legal form may be crucial. Although commercial partnerships may be attractive as far as tax structuring is concerned they have a significant disadvantage in international business”

Tax Reform in Spain with Garrigues: “These changes will streamline and simplify the Spanish income tax, which is currently very complex, with seven distinct brackets in the tax scale and a large number of tax credits and reductions”

Taxation in Turkey with MK Strategic Consultancy: “Turkey has been renewing certain legislations in recent years. Corporate Tax Law and Commercial Code, for example, were drawn up again and came into effect. In the upcoming years, we foresee the same for Income Tax Law and Tax Procedures Law.”

Taxation in Hong Kong with EY: “Given the rapid pace that the OECD and G20 are moving forward with their work on the BEPS project, companies should be reviewing their operating models and legal structures to ensure that they are supportable from a tax perspective.”

Transfer Pricing in Hungary with PwC: “In today’s challenging business environment and with the more intense focus on BEPS, transfer pricing continues to be a high priority issue both for tax authorities and taxpayers.”

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