Just Released: Business World September 2021

September 2021

Russell Bedford International has released the September edition of its biannual magazine, BUSINESS WORLD.

Business World delivers the latest views and analysis written by specialists from within the Russell Bedford network, together with guest authors from various other organisations from around the world.

Articles in the latest edition include:

Doing business in Quebec: an overview

Quebec is the second most populous province in Canada. Its location, within easy reach of important centres such New York, Boston, and Toronto, has proved strategically advantageous for foreign investors and businesses.

Mylène Pontbriand, tax partner at Russell Bedford’s Montreal member firm, FBL, discusses what foreign businesses need to consider when contemplating doing business in Quebec, including its language, culture, and legal system, as well as the different business structures that are possible in the province.

New EU e-commerce VAT schemes: revolution or resolution?

The new EU e-commerce VAT schemes have been in place since 1 July 2021. As with any new initiative there are teething problems, but ultimately the new e-commerce schemes may revolutionise how businesses charge and account for VAT on e-commerce transactions. Further, this may resolve the problem of uncollected VAT on e-commerce transactions emanating from the revocation of the VAT exemption on importing low-value consignments of goods not exceeding €22.

Charles Vella, senior VAT adviser at Zampa Debattista, Russell Bedford’s Malta member firm, offers an overview of the Digital Single Market Strategy for Europe.

Environmental, social and governance in agricultural markets: a brief analysis

As consumers and investors take a much closer interest in corporate ethical and sustainability behaviour, environmental, social, and governance (ESG) criteria are taking on a whole new importance.

Luis Felipe Canto Barros, Head of Legal at Russell Bedford Brasil, discusses ESG and its importance to the agricultural market.

COVID-19 – impact on intercompany transactions

Covid-19 forced companies around the world to review strategies and operations in rapid time. On 18 December 2020, the Organisation for Economic Co-operation and Development (OECD) published guidance on the implications of Covid-19 for transfer pricing.

Jacobo García-Nieto, senior manager at GNL Russell Bedford Auditors, Barcelona, Spain, Xochitl Contreras Olvera, economic consulting and transfer pricing partner at Russell Bedford Puebla and Sindy Hernandez Santiago, transfer pricing and economic consulting manager at Russell Bedford Puebla consider two examples of possible impacts of COVID-19 on intercompany transactions in Spain and Mexico.

Tax planning to help new franchisees

Investing in a franchise can be a wonderful opportunity, but it can also involve a completely unfamiliar set of rules when it comes to your taxes. Whether you are considering becoming a franchisee or have recently become involved, it’s important that you seek the right adviser to help ensure you understand your tax obligations and prepare accordingly.

Karen Snodgrass, a principal at Russell Bedford’s Chicago member firm, Cray, Kaiser Ltd., shares some of the areas to consider before diving in.

Northern Ireland – an international opportunity

Much has been written about the UK and Brexit. However, while Great Britain seems to be moving ahead in a post-Brexit world, Northern Ireland is having to adapt and change to a different post-Brexit (and post-pandemic) trading environment. But this article is not about historical or political differences; it is about a shared future for Northern Ireland – a future inside both the United Kingdom and the EU single market.

John Hannaway, principal at Hannaway CA, the Belfast, UK member firm of Russell Bedford, shares his inside knowledge on what makes Northern Ireland an interesting opportunity for international businesses.

Managing wealth with a Private Trust Company

The wealth management landscape has evolved in recent years, with international developments such as Brexit, political and environmental challenges, regulatory change, and digital advancements all playing their part. Then in March 2020, the coronavirus pandemic added more uncertainty.

Claire Machin, Group Director, Head of Trusts and Private Wealth for the Jersey office of Russell Bedford’s Isle of Man member firm, Suntera Global, explains what a Private Trust Company (PTC) is, the most common use of a PTC and the advantages and disadvantages of establishing one.

To read the latest edition of Business World in full, visit the Business World page of the Russell Bedford website HERE. Business World is also available from member firms of the global accounting network.