VAT rules for e-commerce will be harmonized in the EU from 1 July 2021

As of 1 January 2019, the rules for declaring and fulfilling value added tax (VAT) for telecommunications, broadcasting and electronic services had been simplified and payers were able to use special scheme for imposing VAT (so-called MOSS). This means, that cross-border suppliers of digital services were allowed to comply with the laws of the country […]

Tambet MullariPartner, Law Office Turnstone

HKEX to Raise Main Board Profit Requirement from 1 January 2022

On 20 May 2021, the Stock Exchange of Hong Kong (HKEX) published its Consultation Conclusions on the Main Board Profit Requirement.1 Following broad opposition to the Consultation Paper’s2 proposal to increase the profit requirement for companies listing on the Main Board by either 150% or 200%, the HKEX will instead raise the aggregate profit requirement […]

Julia CharltonPartner, Charltons

HKEX to Raise Main Board Profit Requirement from 1 January 2022

On 20 May 2021, the Stock Exchange of Hong Kong (HKEX) published its Consultation Conclusions on the Main Board Profit Requirement.1 Following broad opposition to the Consultation Paper’s2 proposal to increase the profit requirement for companies listing on the Main Board by either 150% or 200%, the HKEX will instead raise the aggregate profit requirement […]

Clinton MorrowPartner, Charltons

FSTB Concludes Consultation on Licensing Regime for Hong Kong Virtual Asset Exchanges

On 21 May 2021, Hong Kong’s Financial Services and Treasury Bureau (the FSTB) published its Consultation Conclusions1 on legislative proposals to enhance anti-money laundering and counter-terrorist financing (AML/CTF) regulations in Hong Kong (Consultation Conclusions) in respect of Hong Kong virtual asset service providers (VASPs). These Consultation Conclusions are in response to the FSTB’s consultation paper2 […]

Julia CharltonPartner, Charltons

Tax and legal implications of working from home (home office)

Due to the SARS-Cov-2 epidemic causing COVID-19, working from home is becoming an increasingly topical issue. The current legal regulation of working from home is insufficient, which causes a number of interpretation problems in practice. Legal regulation of working from home According to the current wording of the Labour Code, it is possible to view […]

Aleš EppingerPartner, Schaffer & Partner

FSTB Concludes Consultation on Licensing Regime for Hong Kong Virtual Asset Exchanges

On 21 May 2021, Hong Kong’s Financial Services and Treasury Bureau (the FSTB) published its Consultation Conclusions1 on legislative proposals to enhance anti-money laundering and counter-terrorist financing (AML/CTF) regulations in Hong Kong (Consultation Conclusions) in respect of Hong Kong virtual asset service providers (VASPs). These Consultation Conclusions are in response to the FSTB’s consultation paper2 […]

Clinton MorrowPartner, Charltons

Changes in the regulation of the register of beneficial owners – transposition of AML Directive V

With effect from 1 June 2021, the regulation contained in AML Directive V – i.e. Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending […]

Aleš EppingerPartner, Schaffer & Partner

Changes to work arrangements for Dependant’s Pass holders

Authors: Wong Pei-Ling and Marvin Chua.  The Ministry of Manpower (“MOM”) announced on 3 March 2021 that for the purposes of aligning the requirements that will allow Dependant’s Pass (“DP”) holders to work in Singapore with the requirements that other foreigners have to satisfy in order to work in Singapore, and consistency with the updates made to the […]

Lisa ThengManaging Partner, CNPLaw LLP

Setting up a crypto fund in Singapore

Authors: Quek Li Fei and Yeo Tun Zen.    Introduction Cryptocurrencies have very much come back into the news recently since Bitcoin (the most well-known cryptocurrency) rebounded in its price and subsequently went on another roller coaster ride. Much has been said online and in the press about the “rising” prices of Bitcoin and Ethereum reaching new […]

Lisa ThengManaging Partner, CNPLaw LLP