Business World: March 2020

Russell Bedford International has released the March 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:

Investing in Romania – Taxation Considerations

With a population approaching 20 million, Romania is the sixth largest EU country. Located in South-East Europe, it is ideally situated for access to markets in the EU, the Commonwealth of Independent States, and the Middle East. Here, Andrei Badiu, partner at Russell Bedford’s Romania member firm, 3B Expert Audit, discusses the taxation considerations that businesses should contemplate when entering into the Romanian market.

The Important Role of The Probity Adviser

Many countries, especially in Western Europe and North America, have processes in place to ensure transparency, fairness and integrity in the competitive tendering and award of major public sector contracts. In Australia, the term ‘probity’ is used to describe the required standards, and at all levels of government in Australia, the application of sound probity processes is a mandatory requirement for public tendering and procurement. Kevin Donnelly, principal at Stantons International, the Perth member firm of Russell Bedford International explores this subject.

Mergers and Acquisitions – Maximising Value

There are many good reasons for corporate mergers and acquisitions (M&A), but they all have the same goal: to generate and maximise value for the shareholders. In Kenya, mergers and acquisitions have emerged into a growing practice. In fact, Kenya is the fourth most popular destination in Africa (behind South Africa, Nigeria and Ghana) for foreign investors looking to merge with local businesses. Lawrence Ngugi, partner at Russell Bedford Alexander & Associates, the Kenyan member firm of Russell Bedford International, discusses how foreign investors can maximise value.

Doing Business 2020: Tackling Burdensome Regulation

At its core, regulation is about the freedom to do business. All too often, however, regulation misses its goal and one inefficiency replaces another, especially in the form of government intrusion in business activity. By documenting changes in regulation in 12 areas of business activity in 190 economies, from Afghanistan to Zimbabwe, Doing Business analyses regulation that encourages efficiency and supports the freedom to do business. Here, Olga Kuzmina, co-author of the World Bank Group’s annual Doing Business report, shares the key findings from this year’s report.

Five Strategies Used by Fast-Growing Businesses

Over the last decade or so, professional services businesses have experienced enormous change: buyer behaviour has changed, and it has proven difficult to keep up with rapid technological advances. However, during this time some businesses have performed exceptionally well, growing three times faster than the average business. John Tyreman, researcher at Hinge Research Institute, a division of Hinge that publishes primary research focused on what drives extraordinary growth in professional services, shares insights from Hinge’s 2020 study which analysed more than 1,000 professional services companies.

Entering the US Market? State Sales Tax Mistakes Can be Costly

State sales tax rules can surprise businesses that sell into the US. While treaties between the US and other countries make federal tax laws straightforward, taxes on the sale of products and services can vary widely between jurisdictions.

Jaspal Dhillon, VAT Director at Lubbock Fine Chartered Accountants, the London member firm of Russell Bedford and Steve Horn, tax partner at Williams Benator & Libby, Russell Bedford’s Atlanta member firm, and member of the board of directors of Russell Bedford, delve into the complexities of varying tax rules in different states and municipalities.

DIFC Foundations – Protecting Family Asset.

The Dubai International Financial Centre (DIFC) as a leading financial hub serving the Middle East, Africa, and South Asia, ranks eight globally and provides a stable and secure platform enabling businesses to gain access to many emerging markets. Here, Naresh Shah, director of Russell Bedford (Dubai) Limited and a partner in Russell Bedford’s London member firm, Lubbock Fine, and Sunita Singh-Dalal, legal counsel at Stephenson Harwood LLP in Dubai, UAE give an overview of DIFC foundations, the requirements to set one up, their uses, and accounting requirements.