Insights of experts

In January WhatsApp announced that it is changing its data policies so that the users only options are either to agree to their data policy and make data about them available to Facebook, the owner of WhatsApp, and any of its chosen third parties or not use the service.

In addition to the pandemic the 2020 is memorable as the year or record growth in cybercrime. According to the FBI the USA companies have reported a 400% growth in cyber-attacks and 68% more companies reported of fraud.

In the beginning of the year, several tax changes were introduced in Estonia, Latvia and Lithuania. Some of the changes will become effective in 2019. In addition we shall highlight tax rates applicable in the Baltics as of 2019.

Tax Reform in 2019

Social contribution changes from the 1st of July, 2018, applicable when employee is paid less than minimum monthly wage

Be informed, that changed procedures of daily allowance and other business travel expense compensation will come into force from the 1st of July, 2018 (in accordance with Government decree No. 523 as of 28/06/2017).

Approved final decision - from 2018 1st of January Minimum monthly wage is raised by 20 € - from 380 € to 400 €

Social security contributions changes from 2018

"Blockchain is not the solution to everything," warns Wayne Pisani, head of financial services at Grant Thornton Malta. "Rather, it is typically part of a solution to a situation you might already have and are using multiple processes which you want to simplify.

Blockchain, the technology behind the bitcoin digital currency, has broken loose from its origins. Given the explosion of interest in blockchain beyond financial services across utility, transportation, business and governmental industries - it is gaining momentum.

How has blockchain been put into practice as part of live, commercial business solutions?"[Blockchain] spells the death of the invoice," proclaims Lee Pruitt, co-founder and CEO of spend-control-as-a-service provider InstaSupply.

Blockchain – the technology behind the bitcoin digital currency – has gone from being a potential pipedream for the future of financial services to a legitimate application for businesses worldwide. It is currently being utilised across many industries, from property sales to environmental conservation, as a real-world commercial opportunity for organisations to put into operation right now. The challenge for those not already on board lies in understanding how to capitalise on the boundless business promise now within reach.

Approved final decision - from 2018 1st of January Minimum monthly wage is raised by 20 € - from 380 € to 400 €

The new General Data Protection Regulation will enter into force in May 2018.

A guide covering everything you need to know about doing business in Germany.