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News & Knowledge

All Knowledge & Opinions

China's VAT Reform: The Basics

11th June 2019

The Chinese government recently passed VAT reforms for current general VAT payers' sales activities and imports that are subject to VAT an existing applicable rate of 16% to 10%, to the applicable VAT rate adjusted between 13% to 9% respectively from the 1 April 2019. MSI's Chinese accounting member LehmanBrown Ltd provides a summary of the recent VAT reform in China.

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The importance of Phantom Stock

11th June 2019

The recent developments in the e-commerce industry and startup revolutions have created immense competition among the employers to recruit and retain talented employees. Moreover there are array of job opportunities among the talented employees to choose from. Hence, it has become essential for companies not only to offer high remuneration packages but also attractive incentives to employees, primarily key managerial personnel and senior management to retain them and not lose them to their competitors in the long run. Such incentives include employee stock option schemes and employee purchase plans, stock appreciation rights, general employee benefit schemes and retirement benefit schemes. These incentives enable the organization to improve the performance capabilities of employees and transform them to growing partners. One such incentive granted to employees and other people in the organization is Phantom Stock. MSI's Chennai accounting member DVS Advisors LLP explains more.

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Guernsey - Why is it a centre of Fintech excellence?

12th April 2019

Guernsey’s existing laws, regulations and expertise mean that the Island is already an attractive location for FinTech. The absence of Capital Gains Tax and VAT in Guernsey provide additional incentives to FinTech companies to be established on the Island. MSI's Guernsey member Dixcart Trust Corporation Ltd provides further insight.

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The biggest employment law issues for accounting firms

12th April 2019

The greatest asset of an accounting firm is its people. Unfortunately, this also means that people can be one of its greatest legal risks. While compliance with employment laws can be daunting, even small efforts can mitigate risk. Laura Friedel from MSI's Illinois law member Levenfeld Pearlstein LLP provides an overview of the six largest areas where accounting firms are most likely to find risk – and the opportunity to minimize it.

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