Category: Finance

E-Invoicing to Become Mandatory in Italy from 2019: Key Things You Need to Know

General B2B and B2C E-invoicing becomes mandatory from January 1, 2019. Starting January 1, 2019, general business to business (B2B) and business to consumer (B2C) e-invoicing obligation will become mandatory. The e-invoice will be issued through the ‘Sistema di Intercambio’ (SDI) system, managed by…

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Minimum Wages: APAC Region

A minimum wage is the legal minimum salary set by the government that an employer is required to pay to its employees. The table below shows the minimum wage rates across the Asia-Pacific (APAC) countries. COUNTRY MINIMUM WAGE Australia AU$ 719.20/week or AU$…

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4 Benefits of Outsourcing Procure to Pay (P2P)

Is your business facing long purchase cycles, delayed payments, and sluggish cash flow? Maybe it’s time to streamline the procure to pay (P2P) process of your business. The P2P process starts with planning out the requirement of a service or product and ends…

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South Korea’s Minimum Hourly Wages Increase

The South Korean Ministry of Employment and Labor has raised the hourly minimum wage to 7,530 won ($6.64) for 2018, a spike from the current wage of 6,470 won per hour. This move is a significant step towards actualizing President Moon Jae-in’s goal…

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China’s Wages are Catching up to Europe

China’s median net salary is now equal to parts of Europe, and higher than some Eastern European countries, due to its new minimum wage standards. Factory workers in China are earning more than ever as average hourly wages have gone up a significant…

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Taiwan’s Amended Tax Guidelines for E-Commerce Enterprises

The Ministry of Finance for Taiwan has issued draft amendments to the Value-Added and Non-Value-Added Business Tax Act that was first announced on December 28, 2016. The revised VAT law made it mandatory for foreign e-commerce operators selling its services to individuals in…

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Global Payroll: Taking a Practical Approach

Global Payroll Association (GPA) teams up with SmugMug, ADP and Global Upside for an informative webinar Global Payroll: Taking a Practical Approach. During the webinar you will find out why Brazil, China, France and Russia are special cases when you are running global payroll.…

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Permanent Establishment: Staying Compliant Internationally

In a recent case, a Swedish Court ruled that a German company has a permanent establishment (PE) in Sweden despite the fact that the company’s was only performing short-term testing activities and maintained no physical office or storage facility in Sweden. Case Study…

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5 Accounting Updates for Public Companies

From time to time, the Financial Accounting Standards Board (FASB) suggests new rules to improve and reduce the complexity in accounting standards. Some of these changes impact all business entities that use GAAP. The latest updates have few important consequences for public companies.…

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5 Questions to Ask When Paying Employees

Paying employees in local currencies is one of the most expensive yet most overlooked issues for global companies. Without careful planning, you could end up paying thousands of dollars in exchange rates and bank transfer fees while burdening your payroll and treasury departments…

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