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eToro Expands Its Global Reach with AUD 80 Million Acquisition of Australian Broker Spaceship

by THEFUTURE.TEAM

September 29, 2024

In a strategic move to strengthen its presence in the Australian financial market, eToro, a global trading and investment platform, has announced the acquisition of Australian broker Spaceship for AUD 80 million. The deal, which is subject to regulatory approval, marks another significant step in eToro’s ongoing expansion efforts, as it seeks to solidify its position in the competitive landscape of financial technology.

Spaceship, an Australian fintech firm that focuses on superannuation and investment products, has built a reputation for offering simple and accessible investment solutions to a younger demographic. Launched in 2016, the company has aimed to modernise Australia’s investment approach, particularly in the realm of superannuation. Its acquisition by eToro, which boasts a community of over 32 million users globally, reflects a growing trend of consolidation in the fintech sector as major players seek to diversify their portfolios and capture new customer segments.

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Strengthening eToro’s Footprint in Australia

For eToro, this acquisition is not just about geographical expansion but also about gaining access to new markets and tapping into the unique superannuation market, which is estimated to be worth over AUD 3.5 trillion. By acquiring Spaceship, eToro is positioning itself to offer a broader range of financial services in a country where the demand for self-directed investment options is rapidly increasing.

Yoni Assia, CEO of eToro, remarked on the acquisition as a move that underscores the company’s commitment to providing diverse financial products and services to meet the evolving needs of investors worldwide. “This acquisition is aligned with our vision to empower people to grow their knowledge and wealth,” Assia stated, indicating that Spaceship’s integration would enable eToro to offer enhanced investment tools and products tailored to Australian investors.

The acquisition of Spaceship also signals a broader trend of consolidation within the fintech sector, where established firms are acquiring smaller players to scale their operations and capture market share. For eToro, this acquisition comes on the heels of other strategic moves aimed at broadening its global footprint, including previous partnerships and acquisitions in Europe and the United States.

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EU E-Commerce VAT Systems Generate €257.9 Million Revenue for Cyprus in 2024

by THEFUTURE.TEAM

August 11, 2025

Robust Revenue Growth Through Streamlined VAT Collection

Cyprus has demonstrated a significant fiscal boost in 2024 with €257.9 million generated from the European Union’s e-commerce VAT systems, according to Tax Commissioner Sotiris Markides. This impressive performance underscores the effectiveness of the One Stop Shop (OSS) and Import One Stop Shop (IOSS) frameworks in simplifying cross-border tax compliance.

Simplified Procedures for EU and Non-EU Businesses

The OSS system allows Cyprus-registered businesses to streamline VAT declaration and payment on sales to consumers in other EU countries. Companies simply register on the local OSS platform, apply the consumer’s VAT rate, aggregate their submissions quarterly or monthly, and remit a single consolidated payment. Subsequently, Cyprus allocates the appropriate share to each respective EU country. This efficient process extends to non-EU sellers as well, who can have their intra-EU distance sales managed under the Union Scheme.

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Breakdown of VAT Revenue Streams

Last year’s declarations under the various schemes illustrate the system’s broad reach: €217.9 million was collected via the Union Scheme, €36.9 million through the Non-Union Scheme, and €3.1 million via the Import Scheme. While the Union Scheme caters to both EU and non-EU sellers engaging in distance sales, the Non-Union Scheme specifically accommodates non-EU firms delivering services to EU consumers. Furthermore, the Import Scheme targets goods valued at less than €150 that are imported from outside the EU.

Implications and Broader Impact

Implemented in July 2021 as an evolution from the more limited MOSS system, these reforms have not only consolidated tax collection through an expansive OSS but also integrated the IOSS for low-value imports. By designating certain online marketplaces as “deemed suppliers,” the new framework ensures that VAT collection is both efficient and equitable. Across the EU, these mechanisms have generated over €33 billion in VAT revenues in 2024, reflecting a successful effort to simplify tax compliance, reduce administrative burdens, and promote fair taxation across the bloc.