Insights into the world of business

Utilizing the global reach of the Cathay Group we are aiming to provide you with insights to the local business, legal, investment, tax and IP environment of your target countries around the world.

Latest articles

September 14, 2018

New Collective Agreements

After an active summer for social partners, the new Collective Agreement for Slovenia’s Trade Sector and a new Collective Agreement of Slovenian Hospitality and Tourism Industries have been adopted.  
September 13, 2018

A new period in the Turkish tourism investment: room sales to third parties

Within the last year, it has become possible for tourism investors to get an extension up to 49 years for the term of usage rights granted on public real properties; and to acquire the real properties on which an easement right is established, or which has been allocated in favor of the tourism investors or the operators. On 30 June 2018, another long-awaited amendment was made to the Regulation on Certification and Qualifications of Tourism Facilities (the “Regulation”) legalizing the sales of hotel rooms in the tourism facilities to third parties.
September 13, 2018

New Rules Will Apply to Tax Return Filing in May 2019

On February 07, 2018, the President promulgated the following amendments to the Income Tax Act.  These amendments apply to income tax filings for May 2018, and are applied retroactively to January 01, 2018.
September 13, 2018

The “Legal Foundation Law” will be enforced on February 1, 2019

The Legislative Yuan passed the “Legal Foundation Law” by third reading on June 27, 2018. This new law will be enforced and implemented on February 1, 2019.

Business

September 7, 2018

“Yixin-Europe” railway with special focus on Czech Republic

From the traditional garment trade to the merger and acquisition of multinational companies, Zhejiang merchants have become active practitioners of China-Czech economic and trade exchanges under the “One Belt And One Road” initiative. A new “One Belt And One Road” headquarter is being set up with special focus on Czech Republic.
July 10, 2018

Visit of Geneva Officials to China

A Geneva business delegation was recently in China and visited Tencent in Shenzhen.
July 9, 2018

Joint Venture Guidelines of the Philippine Reclamation Authority

The Philippine Reclamation Authority (PRA) issued on 18 April 2018 Guidelines for joint venture agreements (JVAs) with private sector entities (PSEs). The Guidelines govern all JVAs formed for the development and disposition of PRA’s existing properties and projects, whether owned, administered or controlled by PRA.  The JVAs must be entered into only for activities directly and immediately related to the primary purpose of the PRA to dispose government assets. The Guidelines do not cover reclamation or to be reclaimed lands that are still part of the public domain.
July 6, 2018

Law Passed Strengthening Consumer Protection in the Philippines

On December 19, 2017, the Gift Check Act of 2017 (Republic Act No. 10962) was signed into law.

Legal

September 14, 2018

New Collective Agreements

After an active summer for social partners, the new Collective Agreement for Slovenia’s Trade Sector and a new Collective Agreement of Slovenian Hospitality and Tourism Industries have been adopted.  
September 13, 2018

The “Legal Foundation Law” will be enforced on February 1, 2019

The Legislative Yuan passed the “Legal Foundation Law” by third reading on June 27, 2018. This new law will be enforced and implemented on February 1, 2019.
September 3, 2018

Constitutional Court annuls Judicial Fees Act in part

The Constitutional Court has annulled the provision of the Court Fees Act which determines the amount of court fees where the value of a case amounts to EUR 500,000 or more.
August 31, 2018

Supreme Court annuls judgment on Swiss franc-denominated loans

The Supreme Court ruled that the conclusion of loans in Swiss francs was not illegal, that the basis of the transaction was not inadmissible and that it cannot be considered as usurious business.

Investment

September 13, 2018

A new period in the Turkish tourism investment: room sales to third parties

Within the last year, it has become possible for tourism investors to get an extension up to 49 years for the term of usage rights granted on public real properties; and to acquire the real properties on which an easement right is established, or which has been allocated in favor of the tourism investors or the operators. On 30 June 2018, another long-awaited amendment was made to the Regulation on Certification and Qualifications of Tourism Facilities (the “Regulation”) legalizing the sales of hotel rooms in the tourism facilities to third parties.
June 5, 2018

About Real Estate Business in Turkey

In the following article you will be able to gain an insight of Real Estate Businesses in Turkey, where multiple questions have been answered.
May 18, 2018

Czech Republic a CEE hub for China

The Czech Republic is thanks to its location often called the hearth of Europe. A lot of multinational conglomerates have set up their logistics centres in the Czech Republic.
April 24, 2018

China and the CEE region

Chinese investments in Europe have reached record values. In 2017, when President Si Ťin-pching promised the One Belt One Road initiative another USD 124 billion to expand global business routes, the investments grew by 78%. Europe is one of the objectives of what was first described in 2013 as the New Silk Road with the aim to support investment into ports, roads and railways and other infrastructure worldwide.

Tax

September 13, 2018

New Rules Will Apply to Tax Return Filing in May 2019

On February 07, 2018, the President promulgated the following amendments to the Income Tax Act.  These amendments apply to income tax filings for May 2018, and are applied retroactively to January 01, 2018.
July 16, 2018

Uruguay – Taxation on E-commerce Companies: New Regulations

Online companies incorporated abroad (with no presence in Uruguay) are required to pay taxes in Uruguay whenever their clients are located within Uruguayan territory. Online services providers (such as Netflix and Spotify) are subject to VAT at the rate of 22%, plus Non-Residents Income Tax (so-called IRNR) at the rate of 12%, both assessed over the sales price. Online services intermediaries (such as Uber and Airbnb) are subject to the same taxes, except that IRNR is assessed only over 50% of their sales where one of the parties of the ultimate transaction is based abroad.
July 10, 2018

Bureau of Internal Revenue Clarifies Taxes on Offshore Gaming

The Bureau of Internal Revenue (BIR) issued on December 27, 2017 Revenue Circular No. 102-2017 clarifying the tax imposed on entities engaged in Philippine offshore gaming operations. Philippine offshore gaming operators offer to offshore players online games of chance through the internet.
June 1, 2018

Taxation Highlights

A company is resident in Iran if it’s established under the Iranian Commercial Code, or if it is managed from Iran. For tax purposes, the Iranian calendar year, starting 21 March and ending 20 March of the following year is generally used, but a company or branch may use its own accounting year if different.

Intellectual property

June 19, 2018

Chinese launch of CATHAY IP with successful events in Shanghai

Last week seven international CATHAY IP member firms, the international leaders of the group from three countries and the Chinese founding partner of CATHAY IP, Sinofaith attended the „2018 IPCOC Intellectual Property Commercialization Operation Conference” in Shanghai.
June 5, 2018

IPCOC 2018, Intellectual Property Commercialization Operation Conference is coming on 15th June, 2018

The first Intellectual Property Commercialization Operation Conference on June 2017 (“IPCOC”) was held in Jia-ding District, Shanghai, and gained high attention and wide influence in the industry The second 2018 IPCOC China intellectual property commercialization operation conference is about to meet with you on June 15th, 2018.
May 25, 2018

The new Personal Data Protection Act adopted on time?

The National Assembly did not include the proposal of the new Personal Data Protectionin the agenda of its next extraordinary session. This means that the controllers andprocessors will have to comply with the requirements of the General Data ProtectionRegulation no later than 25 May 2018, because there will be no promised adaptationperiod.
April 23, 2018

Is your business ready for the new protection rules?

Is your business ready for the new protection rules? As of May 2018 the European Data Protection Directive shall be replaced by the General Data Protection Regulation (GDRP)