Алёна Каменецкая, Author at Finance Business Service

What is initial coin offering and how it works?

Published: Olena Kamenetska | 18/09/2017 | blog

The developers, businesses and ordinary people are increasingly using the Initial Coin Offering, which is also called the ICO or the sale of tokens to raise capital. Such activities provide fair and legitimate opportunities to attract investment. Nevertheless, new technologies and financial products related to the ICO can be misused to attract investors with the promises of high profitability in the new investment space. Providing this material, we begin a series of articles on crypto-currencies in order to acquaint you with the current issues of regulating a new and actively developing sphere of investment. Virtual coins or tokens are created and distributed using the distributed registry technologies or distributed storage of reliable records (blockchain technology). Recently, the sale of virtual currency through the ICO is more and more popular. The buyers (investors) can use funds to purchase money (for example, US dollars) or virtual money to buy virtual coins or tokens. The creators (promoters) provide the buyers with the information that the capital raised from the sales will be used to finance the development of the digital platform, software or other projects of...

New requirements of czech legislation to relations of parties before conclusion of m&a contracts

Published: Olena Kamenetska | 13/09/2017 | blog

Pre-contractual liability regarding M & A deals in the Czech Republic If you are going to start negotiations on mergers and acquisitions of the companies, or you are already such party, you should pay attention to our next material. The new complex pre-contractual obligations of the parties are applied in the Czech Republic. As we can understand from the title, pre-contractual obligations usually arise from the relations of the parties before the conclusion of the formalized contract. In case of mergers and acquisitions deals, they arise before the conclusion of a contract of sale or other similar contract. Until then, the mutual rights and obligations of the parties are often governed by a simple contract of intentions or an agreement on the non-disclosure of confidential information. As a result, the important aspects of the relationship between the parties before the conclusion of a sales contract or a similar contract may be consequently governed by the applicable legislative provisions on pre-contractual liability. Taking into account the importance of this phase of the preparation of M & A deals, as well as the costs incurred by the parties (for example, for legal...

Malta made changes in law regarding tax credits

Published: Olena Kamenetska | 04/09/2017 | news

Since the beginning of this year, Malta has issued a number of official notices, providing for the changes in the law regarding tax credits. Thus, the Official Notice No. 140 amended the Regulations on Tax Credits for Micro Enterprises and Private Entrepreneurs (Tax Credits for Micro Enterprises and the Self-Employed Regulations). In accordance with the revised provisions, the definition of "eligible costs" now includes family enterprises in the definition fixed by the Family Business Law. Yet, a clause was added to the Regulation, according to which since 2018, the family business can be granted a tax credit for an amount not exceeding 50,000 euros. The loan must be used during any 3-year...

The cabinet approved the list of organizational and legal forms of non-residents who do not pay corporate tax

Published: Olena Kamenetska | 01/09/2017 | news

We remind you that since January 1, 2017, the amendments to the Article 39 of the Tax Code of Ukraine, which describes the transfer pricing, came into effect. They provided for the expansion of the list of non-residents, with whom the transactions will be controlled. So, according to the pp. "d" cl. 39.2.1.1 TCU the operations are recognized as controlling if they are performed with non-residents who do not pay income tax, including income earned outside the state of their registration, and / or are not tax residents of the country in which they are registered as legal entities. In order to administer this norm, the Cabinet of Ministers of Ukraine approved the list of organizational and legal forms of such non-residents in the context of jurisdictions with the Decree dated 04.07.2017 No.480. Most of the list is partnerships, among which are popular partnerships in Germany, the Netherlands, Switzerland, the United Kingdom and the United States. The main criterion for assigning a business transaction with a non-resident counterparty to the controlled ones is the nonpayment of the corporate tax by the last one in the state of registration. Therefore, if this tax is paid by him in...

Offshore fund

Published: Olena Kamenetska | 19/05/2015 | news

Entrepreneurs with successful experience of investing abroad their own funds are very often interested in investment operations with assets of the third parties. Pooling investors usually allows investing money at much more favorable terms. This is the main reason for the existence of investment funds. Investment fund is a subject of law, which is different from all other entities, known in the common law that it is not legal personification of a person or group (as in the case of a corporation); it is rather a subject that has no owners (shareholders, members or partners) and traditionally has a specific target orientation – profit group of individuals. Activities of the Fund are subject to regulation by the State where the fund is registered. That is why it is advantageous to register such fund in the offshore zones. In these countries, the regulation comes down to ensure that the fund must obtain permission from the authorities on their activities and submit timely reports on the statutory form. The investment activity of the fund itself is practically not regulated, which makes it possible to invest in a wide variety of instruments. Investment funds are...

Тонкости открытия оффшорного счета

Published: Olena Kamenetska | 16/12/2009 | news

Каждый предприниматель, который планирует вести оффшорный бизнес, сталкивается с понятием открытия оффшорного счёта. Под оффшорным счётом принято считать любой счёт, открытый за рубежом, но в более узком значении это подразумевает счёт, открытый в банке, находящемся в оффшорной юрисдикции. Каждый предприниматель, который планирует вести оффшорный бизнес, сталкивается с понятием открытия оффшорного счёта. Под оффшорным счётом принято считать любой счёт, открытый за рубежом, но в более узком значении это подразумевает счёт, открытый в банке, находящемся в оффшорной юрисдикции. Часто понятие оффшорного счёта и собственного расчётного...

Author: Алёна Каменецкая