How to open a bank account in Georgia and what Expats need to consider? There are no legal restrictions for non-residents to open bank accounts in Georgia. However, when it comes to dealing with expats and foreigners, in some cases…
A series of amendments and additions to the Romanian Fiscal Code were made by way of GO no. 16/2022 in Romania impacting a wide range of entities. With the changes, which will come into force on January 1st, 2023, micro-companies’…
With the euro becoming the national currency from the 1st of January 2023, most of us are focused on the expected changes in the price of products and services, the level of wages and the cost of living. However, a…
Only a few months after the government’s decision to increase the minimum wage in Albania, the Council of Ministers has decided on a further increase. Starting from September 1st, 2022, the minimum wage in Albania will be LEK 34,000. This…
Following up to our previous article , a new law has been issued regarding the stamp duty obligations on loans, also covering those between enterprises. Article 172 of this Law 4972/2022 adds a new clause to the VAT Code and…
Law 89/67 regime, as amended in 2019 and in force today, offers an attractive solution to Multinational Groups to establish their shared services centers in Greece while benefitting from a stable tax environment. Services A foreign company established in Greece…
It is common practice that after registering a new company, the company does not start trading activities immediately. Another mass case is existing companies, due to subjective or objective reasons, cease their activities without being liquidated. Usually, the owners and…
On August 30th, 2022, the Deputy Minister of Development and Investments presented the new NSRF Program “Competitiveness” regarding the support for small and medium-sized enterprises. The new program amounts to 4 billion euros and is confined to four pillars: Enhancing…
The Ministry of Finance announced the postponement of the deadline for submitting financial statements to the National Business Center. The annual deadline for submission was the end of July, but this year marked fundamental changes on the process of invoice…
Through the latest ministerial order, the Ministry of Finance has announced the change of National Accounting Standard no. 15, which affects all business units classified as “micro entities”. Specifically, starting from the financial period which begins on January 1st, 2022,…