Sorainen Belarus advised Apalon Technologies, a Belarus-based Top 10 developer of iOS applications worldwide, on sale of its mobile applications business to Mindspark Interactive Network, an operating business of NASDAQ-listed InterActive Corp. The financial terms of the deal, which was closed on 3 November 2014, remain confidential. Apalon Technologies Ltd is a leading provider of mobile […]
1. Taxation of company cars changes As of 1 December 2014, amendments to the Estonian Value Added Tax Act (VATA) on taxation of vehicles take effect. Instead of the current 100% input VAT rate, entrepreneurs can now deduct only 50% of input VAT on purchase and use of a car under an operational lease as […]
Dear clients and cooperation partners, On 1 January 2015, VAT Law amendments will come into force with regard to VAT on telecommunications, broadcasting and electronically supplied services. The amendments introduce a change in the principle of determining the place of supply for telecommunications, broadcasting and electronically supplied services to non-taxable persons established in other member states. Under […]
Sorainen Belarus acted as local counsel for the Eurasian Development Bank (EDB) on the extension of a USD 15 million loan to the “Vasily Kozlov” Minsk Electrotechnical Plant (METZ). The loan agreement was signed in Minsk on 18 August to finance modernisation of equipment used in production of transformers. Total project value exceeds USD 55 […]
