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Audit The «Business Risk Analyst»
The internal auditor has a very specific and often relatively isolated role within the company. He is very close to the board of directors and management and yet not part of them. Digitalisation is also creating new challenges for risk management - companies need to be more vigilant than ever. While business remains the same, individual processes are becoming increasingly dependent on data and its in-depth analysis. It is thus clear that the career profile of an “internal auditor” will change to being that of a “business risk analyst”.
tax A no-deal Brexit
With less than two months to go before 31 October, it seems ever likely that, should the UK leave the EU, it will be without a deal with the European Union. It is still possible that a deal may be agreed or that BREXIT day may be postponed further but both Government and business should be prepared for an imminent ‘no-deal’ departure. This Briefing Paper provides insight into the latest VAT and Customs developments for both importers and exporters in a ‘no-deal’ scenario.
tax Tax Alert - Electronic Filing of VAT Returns New Standard
Electronic filing of VAT returns as a new standard will replace paper filings. As from the reporting period Q1/2020 paper filing would only be granted by exception based on a specific written request for a paper VAT return.
Sponsoring Gold sponsor of FinTech Liechtenstein 2019
The conference will take place for the fifth time on Wednesday, 23 October 2019 at the SAL in Schaan and has the theme “Finance meets future”. The event was founded 5 years ago by the three students David Meyer, Sina Reubelt and Tobias Fitz of the University of Liechtenstein and has since developed into an important knowledge sharing and networking platform for the Liechtenstein financial market. In addition to interesting presentations, visitors can also look forward to inspiring workshops, which focus on the current topics and needs of the local financial sector.
Sponsoring Gold sponsor of the Swiss Audit Championship 2019
For the first time Grant Thornton Switzerland/Liechtenstein will be a gold partner of the “Swiss Audit Championship 2019”, a serious virtual business game event, which targets interested parties with starter know-how in the field of auditing.
Legal Services New legal obligations for domestic legal entities
In order to combat money laundering and terrorist financing, it was decided - in implementation of the 4th EU Anti-Money Laundering Directive - that a register should be established in Liechtenstein in which legal entities must enter their beneficial owners. The Act on the Register of Beneficial Owners of Domestic Legal Entities (VwEG) entered into force on 1 August 2019. Existing legal entities must report the required data to the Amt für Justiz (Office of Justice) by the end of January 2020 at the latest. New legal entities must have the data entered in the register within 30 days of their registration.
Sponsoring Main sponsor of the Future Masters 2019 Golf Tournament
Grant Thornton Switzerland/Liechtenstein was the main sponsoring partner at this year's "Future Masters" golf tournament for the second year in a row. The "Future Masters" tournament was held on Saturday, 27 July 2019 at the Golf Club Bad Ragaz. The 18-hole Championship Course has been a member of the "World of Leading Golf" since 2018 and stretched passionate golfers to the limit. Surrounded by an impressive mountain panorama, the impeccably kept park in Bad Ragaz offered an unforgettable golfing experience. The Golf Clinic - the beginners' course on the driving range - was available to all the "not-yet golfers" on the day of the tournament. After the tournament, an entertaining supporting programme awaited the participants in the gladys restaurant along with a culinary evening menu.
legal services Termination of an indefinite individual employment contract
Swiss labor law is in many cases more flexible and liberal than the labor law regulations in other European countries. Liechtenstein has adopted the Swiss regulations on employment contract law (Art. 319 et seq. Swiss Code of Obligations (CO)) practically one-to-one (§ 1173a Art. 1 et seq. Liechtenstein Civil Code (ABGB)). The liberal character of Swiss and Liechtenstein labor law is reflected in particular in the regulations governing the termination of an employment relationship. In practice, however, there are often uncertainties in connection with dismissals. The following summary provides a brief overview of some of the frequently asked questions.
tax Say goodbye to the arm’s length principle
The G20 has endorsed the The Organisation for Economic Co-operation and Development’s (OECD’S) roadmap for resolving the ‘tax challenges arising from the digitalisation of the economy’. The reallocation of profits and minimum tax proposals that have emerged following a recent round of consultations could put an end to the arm’s length principle that has governed transfer pricing for decades.