TMF Group, in association with ACCA, looks at the big issues for businesses planning to set up or expand in Germany and the tax and accounting regulations to consider. In economic terms, Germany is on a high. In 2017 economic growth in Germany reached 2.2%, the highest level for six years. Unemployment is down to 3.6%, the lowest level since unification in 1990. It is no wonder that companies across Europe and the world see Germany as an attractive destination. It...

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Tradewind has provided a $2 million export finance facility to a start-up manufacturer and exporter of home textiles based in India. With the facility in place, the company, who sells to the US and Europe, was able to meet its working capital requirement, accommodate its increasing sales on open account payment terms, and explore potential growth opportunities. As a start-up business, the client struggled securing funding from traditional banks. Because Tradewind works with companies who do not have a long...

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By Lisa Patti | AccentC3 When I am coaching entrepreneurs from around the world, the focus is typically on clarity of speech and using intonation and voice to make an impact. That, however, can take many shapes, and one reason for that is the impact of culture on communication. Sergey Zverev, the founder of Bino, explained that being more serious shows confidence in Russia. Less facial expression and intonation are commonly used to demonstrate that. In Vietnam, however, speaking in a softer...

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By Joel Cooper |Daan Arends | DLA Piper On 5 June 2018 the World Customs Organization (WCO) published "Revenue Package Phase III" which is a package of all available tools and instruments (including, inter alia, formal instruments and conventions, guidance notes and training materials) that are relevant to revenue collection by customs authorities. This package covers a number of new initiatives relating to Origin, Valuation, Customs Laboratories, Post-Clearance Audit, as well as Customs-Tax Cooperation.  As part of the new materials on Valuation,...

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By Dan Roskis | Partner | Eversheds Sutherland On 14 June 2018, the French Minister of Economy announced its intention to review the decision by which the French Competition Authority (the “FCA”) cleared the acquisition of certain securities and assets of Agripole group (“Agripole”) by Financière Cofigeo (“Cofigeo”) subject to conditions1. This is the first time the French Minister of Economy (the “Minister”) uses its own so-called ‘evocation’ power since it was introduced in 2008 in the Article L. 430-7-1 of the French Commercial...

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VULCAN VIEW - KEY EVENTS THIS WEEK: MIGRATION Merkel seeks to reassure coalition partners over proposed migrant deal Fresh doubts have been raised over the viability of German Chancellor Angela Merkel’s migrant plan after her coalition partners the Social Democratic Party (SPD) claimed that they would not support a deal that would lead to closed migrant camps. The migrant plan, which Ms. Merkel struck earlier this week with her party’s junior alliance partner, the CSU, in a bid to avert the collapse of...

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By Stéphanie De Smedt | Loyens and Loeff Short refresher: on 8 June 2016, the European legislator adopted a new Trade Secrets Directive. Members States were supposed to implement this Directive by 9 June 2018. Belgium is not there yet but recently made an important step forward: a legislative proposal has been filed on 12 June 2018. Let us have a look at its cornerstones. Key elements of the Belgian draft Trade Secrets Act At the moment, the Belgian legal provisions relating to trade...

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By Dr. Jens H. Kunz, LL.M. (UT Austin) |  T +49 69 971477218 | Noerr The regulatory framework is undoubtedly of utmost importance for fintech companies and investors as regulatory requirements often represent a significant market entry hurdle, which ultimately determines whether fintechs can offer their innovative business models. In the first issue of the Financial Technology Law Review published in June 2018, Dr Jens H. Kunz addresses some of the key regulatory issues for the fintech industry in Germany such as financial and...

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The USD made gains against the majority of currencies through most of June, but gave most of them up in a sell off in a weak final day’s trading. The USD continues to be underpinned by the expectation of higher US rates and an already attractive yield spread in the USD’s favor, but the gains during the month also appeared to be spurred against most currencies by rising concerns about trade wars. The USD weakness on the last trading...

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By Sue Lawrence | Managing Director | TMF Group  Despite the many benefits, US companies entering the UK market face complicated and disparate laws, a significantly different tax environment, and other obstacles – not to mention the potential implications of Brexit. The United Kingdom (UK), often informally referred to as Britain, is an attractive destination for US companies looking to expand into foreign markets. The two countries enjoy a ‘special relationship’, with close cooperation linked to a common language, democratic ideals, and an...

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