THE GLOBE INVEST

                                                                                  In recent times, the global economy has been transformed by technological innovation across almost every area, except one. As commerce has globalised and modernised, the state of worldwide tax law, which governs how commerce is taxed, has become outdated. This scenario is not unlike the US state income tax rules that govern the extent to which individual states can claim the right to tax interstate commerce. State income tax administrators continue to challenge longstanding physical presence requirements, while struggling to consistently apply a new economic presence concept. The global innovation revolution highlights the need for a digital transformation of worldwide tax rules The global ...

The push towards transparency and the adoption of new international standards has been a challenge for Andorran banks. Nonetheless, MoraBanc has effectively adapted to this new landscape and continues to offer high quality services In recent years, the Andorran financial market has witnessed a major transformation in its banking sector. Different factors, both domestic and international, have posed challenges that require an efficient and professional response with a clear agenda. Andorra remains a solid and attractive financial market in this new context, and MoraBanc has become the standard of how a bank can implement change while continuing to provide high-quality services to clients. Throughout this transformative process, MoraBanc has remained a competitive company with an upward performance trajectory. In 2014, Andorra signed a declaration of automatic exchange of information in tax matters with the Organization for Economic Cooperation and Development. This step to...

(Reuters) - In the arid valleys of southern Tunisia’s Djebel Dahar region, people have lived for centuries in underground houses whose earthen casing provides protection against searing summer heat and winter winds. But in recent decades, rural depopulation has meant fewer people live in the homes, which are composed of rooms hewn into the walls of an excavated circular courtyard. The few remaining families say they are attached to the homes and the land or see no way of moving. “M y father died, my mother died, the girls got married and I was left alone. They all went to lead their own lives,” said Latifa Ben Yahia, 38, who lives in a five-room troglodyte home in the village of Tijma. “If I leave then the house will be gone.” The homes are concentrated around Matmata, which lies in a cratered landscape dotted with palm trees and olive groves about 365 km (227 miles) south of Tunis. They are highly unusual, though similar constructions are found...

The recent financial crisis in Cyprus, Greece and Turkey has forced banks to adapt and evolve in order to face the challenges ahead. Institutions need to formulate strategies so as to avoid the mistakes of the past and create the business environment of the future. Following the spate of high-value fines imposed by regulators across the globe, corporate governance has recently turned its focus towards compliance. This, however, will need to change in the coming years. Futurist, trends and innovation expert Jim Carroll recently stated: “Sadly, with all the current focus on compliance, I’ve come to believe that there is a critical lack of future planning on many other corporate boards around the world.” As such, banks will have to shift their concentration to new technologies for the future. There are certain emerging themes that will affect the business models of banking in the years to come. Increasingly, it appears smaller banks and those operating in emerging markets, such ...

Daniel Wang, an ex-Google software engineer, is one of the pioneers of the blockchain community in China. After being involved in several start-ups in the sector, he founded Loopring in 2016, a Shanghai-based non-profit organisation. Loopring aims to build a protocol that will help cryptocurrency users shift from one cryptocurrency to another through a virtual order book. The end product will be similar to a decentralised cryptocurrency exchange, over which Loopring will have limited oversight. To fund its ambitious plans, Loopring raised approximately $45m through an initial coin offering (ICO) in August 2017. This fundraising mechanism is often used by blockchain start-ups to finance their projects. Through ICOs, companies create and auction digital tokens, which can later be used on their platforms or sold on cryptocurrency exchanges. China cracking down  Everything was going according to plan for Loopring until September 4, when the Chinese central bank announced a ba...