log in
Submit an Article | Back

Member Articles

Sort By Title  |  Sort By Date

Africa Tax in Brief
ENSafrica, November 2017

ANGOLA: Introduction of transfer pricing unitA transfer pricing unit, set up as an administrative technical structure forming part of the Large Taxpayers Directorate of the General Tax Administration, was launched on 25 September 2017 and will be responsible for monitoring compliance with Angola’s transfer pricing regime introduced by Presidential Decree No.147/13 of 1 October 2013...

Legal Update - Litigation - November 2017
Fischer Behar Chen Well Orion & Co., November 2017

An Important Israeli Court Decision for Dual-Listed Companies: The Liability for Breaches of Reporting Obligations by Dual-Listed Companies Is Governed by the Securities Laws of the Foreign Trading Jurisdiction On November 7, 2017 the Tel Aviv District Court (Economic Division, Judge Kabub) issued a decision in Cohen v. Tower Semiconductor Ltd. et al., C.A...

Unutilised capital losses – can SARS impose understatement penalties?
ENSafrica, November 2017

In terms of section 222(1) of the South African Tax Administration Act, 2011 (the “TAA”), “[i]n the event of an ‘understatement’ by a taxpayer, the taxpayer must pay, in addition to the ‘tax’ payable for the relevant tax period, the understatement penalty determined under subsection (2) unless the ‘understatement’ results from a bona fide inadvertent error” (our emphasis)...

Development of Latin America Through Foreign Trade and Investment
Brigard & Urrutia, November 2017

In this article, José Francisco Mafla and Camilo Castrill at Brigard & Urrutia Abogados explore the development of trade throughout Latin America, and its effect on and importance for the region’s economic growth.  Latin America’s current economic growth levels are among the world’s highest, and the region is preparing its regulations to meet new economic challenges...

Relocating from South Africa? Key steps to undertake in the emigration process
ENSafrica, November 2017

There are a number of considerations when relocating to another country that involve much more than a mere physical departure and the taking up of permanent residence in a foreign country. In South Africa, an individual will continue to be regarded as a South African resident for exchange control purposes until such time as the South African Reserve Bank (the “SARB”) has provided him/her with formal emigration approval...

Patterson Belknap Publishes New York Commercial Division Practice Guide
Patterson Belknap Webb & Tyler LLP, November 2017

Patterson Belknap Webb & Tyler LLP announced today the publication of its New York Commercial Division Practice Guide.  This new publication is part of Bloomberg BNA’s Litigation Practice Portfolio Series, and an excerpt is available to download at: http://on.bna.com/H1KM30gCY7v...

The Taxation Laws Amendment Bill, 2017: far-reaching changes to debt reduction rules
ENSafrica, November 2017

  The new South African Taxation Laws Amendment Bill, 2017 (the “TLAB 2017”) was released following the public consultation process for the Draft Taxation Laws Amendment Bill, 2017 (the “Draft TLAB 2017”). While some of the changes in the TLAB 2017 following submissions made on the Draft TLAB 2017 are welcome, others are problematic...

Remuneration for holidays or national mourning in Panama
Morgan & Morgan, November 2017

Most of holidays and national mourning that are covered by Article 46 of the Labor Code of the Republic of Panama are in November, December and January. In fact, they are considered as such, November 3, 5, 10 and 28; December 8 and 25; and on January 1 and 9...

Playing with fire – understanding future financial commitments
ENSafrica, November 2017

Section 66 of the South African Public Finance Management Act, 1999 (“PFMA”) places certain restrictions on the powers of national and provincial public entities, government departments and constitutional institutions (“public institutions”) in regard to specified transactions, namely borrowing, the issue of guarantees, indemnities and security, and entering into transactions that bind or may bind that public institution or the revenue fund to any other so-called future f

UAE VAT Executive Regulation Update: Free Zone Guidance
Afridi & Angell, November 2017

The UAE Ministry of Finance has announced the Executive Regulation for the Federal Decree-Law No. (8) of 2017 on Value Added Tax (UAE VAT Legislation) at a Cabinet meeting on 7 November 2017, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai. It is expected that the Executive Regulation to UAE VAT Legislation will be released this week in draft form on both the UAE Ministry of Finance’s website (www.mof.gov...

With child, without pay
ENSafrica, November 2017

In the Labour Court judgment, dated 7 November 2017, of Manyetsa v New Kleinfontein Gold Mine (Pty) Ltd, a pregnant employee claimed she was unfairly discriminated against due to the application of the maternity leave policy of her employer, a gold mining company...

Senate Approves Trump Nominee for General Counsel of NLRB: How This Will Impact Non-Union Lawyers
Spilman Thomas & Battle, PLLC, November 2017

On November 8, 2017, the U.S. Senate confirmed Peter Robb as the new General Counsel for the National Labor Relations Board ("NLRB" or "Board"). In private practice, Robb was a noted critic of the NLRB under the Obama administration, particularly the Board's so-called quickie election rules and what he has termed the Board's narrow definition of supervisory status...

Brexit: is it offensive?
ENSafrica, November 2017

The issue of offensive trade marks has been in the news quite a bit of late. Now, the European trade mark authorities have considered whether Brexit, the term used to describe the UK’s departure from the European Union, is a trade mark that might offend. It might seem like an unlikely trade mark, but clearly some people think that Brexit works as an indicator of commercial origin...

The International Comparative Legal Guide to: Patents 2018
SyCip Salazar Hernandez & Gatmaitan, November 2017

1. PATENT ENFORCEMENT 1.1 Before what tribunals can a patent be enforced against an infringer? Is there a choice between tribunals and what would influence a claimant’s choice? Patents are enforced against an infringer either through a civil action before the Regional Trial Court (“RTC”) or an administrative action before the Bureau of Legal Affairs (“BLA”) of the Intellectual Property Office of the Philippines (“IPOPHL”)...

Huawei/Wawei, it’s all a bit confusing
ENSafrica, November 2017

In this article, we look at two recent trade mark opposition decisions. These remind us of the many issues that need to be considered when comparing trade marks. They also highlight the growing importance of Chinese brands.The first involves a case that was before the European Union IP Office (“EUIPO”). In this case, the Taiwanese company Wawei filed an EU trade mark application for Wawei for food and drink in classes 29, 30 and 32...

Business Work Visas, Two Developments that Affect Employers
Haynes and Boone, LLP, November 2017

The current Administration continues to be active in the area of immigration law and policy, and has promulgated several Executive Orders (“EO”), mostly directed to immigration enforcement and national and public security. The exception is the April 2017 Buy American, Hire American Executive Order, which extends to and impacts professional work visas...

UGG, what a legal mess!
ENSafrica, November 2017

There’s an interesting trade mark dispute under way about UGG. It touches on a range of IP issues – geographical indications, generic terms, country-of-origin brands and Chinese manufacture.Many readers will know that UGG is a sheepskin boot originating from Australia. UGG has apparently been around since the1930s, when it was created to deal with the cold winters in Australia (the Blue Hills region of New South Wales apparently can get cold)...

E&P Companies and the OCC’s Leverage Test – October 2017 Update
Haynes and Boone, LLP, November 2017

In August 2016, we reviewed publicly available data for a group of 58 E&P companies and predicted how they would fare under the leverage test that had, at the time, recently been introduced by the OCC.Based on that review, we predicted that, in 2016, over 91 percent of the companies reviewed would be non-passing credits under the OCC’s leverage test. The average leverage ratio of the E&P companies reviewed in 2016 was 6.0x...

The EFTA Court renders judgment in landmark public procurement case
Simonsen Vogt Wiig AS, November 2017

Simonsen Vogt Wiig and lead counsel Anders Thue represented Fosen-Linjen AS (a ferry operator) against AtB AS before the EFTA Court. AtB organises the public transportation in one of the Norwegian counties. In its judgment delivered on 31 October 2017 (in Case E-16/16), the EFTA Court replied to questions referred to it by the Frostating Court of Appeal (Frostating lagmannsrett)...

Updates and Highlights in the Mexican Energy Sector, September-October 2017
Haynes and Boone, LLP, November 2017

During the months of September and October 2017, new regulations and administrative guidelines in the Mexican energy sector were issued. These are of particular importance to oil and gas producers, midstream companies, power generators, traders, developers and others looking to invest or expand operations in Mexico’s dynamic energy sector. I. Hydrocarbons September 5, 2017. NOM-167-SEMARNAT-2017...

Uganda Insurance Regulatory Authority clarifies new bancassurance guidelines
ENSafrica, November 2017

The Ugandan Insurance Regulatory Authority (“IRA”) has released clarification on its recently published bancassurance guidelines. Following the publication of the Insurance (Bancassurance) Regulations, 2017, the IRA published guidelines on the licensing of financial institutions as bancassurance agents...

Current Challenges With International Recognition and Enforcement of Mortgages on Ships - Is the Solution found in the Aviation Sector?
Simonsen Vogt Wiig AS, October 2017

Current Challenges with International Recognition and enforcement of Mortgages on Ships – Is the Solution found in the Aviation Sector? Introduction Having practised both as a shipping lawyer and an aviation lawyer for many years, I do find the experience and practice with the Cape Town Convention and aviation finance transactions to be interesting when experiencing the challenges faced by the shipping industry with respect to recognition and enforcement of mortgages...

Take Action by December 31st or Lose DMCA Safe Harbor Protection for User-Generated Content
Haynes and Boone, LLP, October 2017

The Digital Millennium Copyright Act of 1998 (the “DMCA”) provided a safe harbor to shield website owners, ISP’s, and other online service providers from certain claims for copyright infringement based on user generated content. This safe harbor has been very successful...

Stop! Wait! Move! - No Longer Stamp Duty for Residential Homes
DORDA, October 2017

On 12 October 2017, right in a last minute attempt to win undecided voters for one of the political parties, the leaving members of parliament enacted a new tax law. While fundamental changes to the Austrian Tenancy Law had been vividly discussed between the socialist and the conservative parties in recent years, the new law on the abolition of stamp duty falls completely short of what could have been achieved...

Design Risk: What Have You Agreed?
Haynes and Boone, LLP, October 2017

Contractual negotiations for ships and offshore units commonly involve commercial, legal, and technical teams negotiating different parts of the contract. It is however crucial that before the contract is signed, it is read as a whole to ensure consistency in a party’s obligations throughout the contract. The English Supreme Court’s judgment inMT Højgaard A/S v. E...

The Right to be Forgotten
Afridi & Angell, October 2017

Afridi & Angell has recently successfully assisted two individuals in becoming forgotten. Put another way, we were able to convince the Dubai Financial Services Authority (the DFSA) that the names of the individuals should be removed from public documents available on the DFSA website. These included published regulatory actions (in the form of enforceable undertakings) and DFSA media releases...

A Checklist for Victims of Napa/Sonoma Fires: Recovering from Your Insurance
Haynes and Boone, LLP, October 2017

The purpose of this alert is to provide victims of the Napa/Sonoma fires a checklist to use when seeking recovery from their insurance companies. Property Insurance policies may provide coverage for damage to both your property and your business. Business losses can result from a variety of causes, all of which may be covered under a property policy...

Publication: Outlook on Law and Business in Poland
Wardynski & Partners, October 2017

A new item has been added to the extensive catalogue of the firm’s publications. In our Outlook on law and business in Poland we discuss trends in changes in the law, such as increased regulatory pressure and increased penalisation of commerce. These are illuminated by concrete examples from practice and conclusions concerning the consequences of these phenomena that can be expected to occur or are already happening...

From Functional Analysis to Value Chain Analysis
ENSafrica, October 2017

Attacks by the South African Revenue Service (“SARS”) on the transfer pricing practices of multinational enterprises (“MNEs”) are on the rise, leading to tax disputes with SARS over significant amounts of tax. MNEs operating in South Africa provide information to SARS in various forms such as annual Corporate Income Tax returns, Country-by-Country reports as well as the extensive Transfer Pricing documentation...

Don't Just Say Your IT System is Secure, Prove it
Ulmer & Berne LLP, October 2017

In today’s environment, where cybersecurity threats are becoming more and more pervasive, even small healthcare organizations understand that purporting to have comprehensive data privacy and security policies and procedures in place isn’t enough. Business partners want more. Regulators demand more. They want implementation and efficacy. They want to know that health and other sensitive data will truly be protected from threats – in actuality...

“Breaking ground” to calculate mineral royalties on unrefined minerals
ENSafrica, October 2017

The 2014 changes to the South African Mineral and Petroleum Resources Royalty Act, 2008 (the “Royalty Act”) have left mining companies and extractors (“taxpayers”) in uncertain territory...

Slovenia Adopts Class Action Law
Karanovic & Nikolic, October 2017

Slovenia Adopts Class Action Law Views Karanovic & Nikolic The Slovenian National Assembly adopted the Class Action Law, which will implement an important institute to the Slovenian legal system, i.e. mechanism of class action. This mechanism is already applied in the UK, Belgium, Netherlands and Sweden, but is yet to be implemented in numerous EU member states...

Dividends tax: The importance of determining when a dividend is “due and payable”
ENSafrica, October 2017

Section 64E(1) of the South African Income Tax Act, 1962 (the “Act”) provides that dividends tax must be levied at a rate of 20% of the amount of any dividend paid by any company, other than a headquarter company. In terms of section 64EA(a) of the Act, the beneficial owner of a cash dividend is liable for dividends tax in respect of that dividend. However, in terms of section 64F(1), a cash dividend is exempt from dividends tax in various instances...

Tax changes for 2018 disclosed in the new budget bill
Arendt & Medernach, October 2017

On 11 October 2017, and the last time before next year’s parliamentary elections, the current Luxembourg Finance Minister presented the budget law for 2018 to the Parliament (Chambre des Députés)...

Norwegian Continental Shelf – A New Dawn for EPC Alliance Contracts?
Simonsen Vogt Wiig AS, October 2017

Introduction Following the collapse of oil prices – from their peak of an average of $112 per barrel in 2012 to their lowest point of $28 per barrel in 2015/2016 – a significant number of developments became commercially unviable. During the lowest period, oil prices were substantially lower than the breakeven price of most new developments...

Monitoring of the use by an Employee of a Professional Instant Messaging Service for Personal Purposes
Arendt & Medernach, October 2017

Court Decision in Barbulescu v. Romania   On 5 September 2017, the Grand Chamber of the European Court of Human Rights (the “ECHR”) examined for the first time the issue of the monitoring of electronic communications of an employee by a private employer, within the framework of an action brought by Mr Barbulescu, an engineer employed by a private company in Romania...

Finally some clarity on impending margin requirements for OTC derivatives
ENSafrica, October 2017

On 8 August 2017, the South African Financial Services Board (“FSB”) released for comment the second draft of the Board Notice entitled “Margin Requirements for OTC Derivative Transactions” (the “Second Draft Board Notice”)...

VAT registration in the UAE has commenced
Afridi & Angell, October 2017

The United Arab Emirates (UAE) Federal Tax Authority (FTA) has commenced accepting registrations for Value Added Tax (VAT) through its online portal...

Can an employer make deductions from remuneration for work not done?
ENSafrica, October 2017

In Mpanza and another v Minister of Justice and Constitutional Development and Correctional Services and others, the South African Labour Court dealt with a dispute about whether an employer was entitled to make deductions from the remuneration of two employees in circumstances where they were absent from work...

Surviving the Loss of Your Home
Hanson Bridgett LLP, October 2017

This article is written in response to the wildfires in Napa, Mendocino & Sonoma Counties. I lost my home in the 1991 Oakland Firestorm. As such, my heart goes out to the residents of Napa, Mendocino and Sonoma counties whose homes were damaged or destroyed, to the firefighters and first responders who have risked and are risking their lives, as well as to the community, which will also experience the aftermath of such devastating fires...

PRIIPs KID: are you ready?
Arendt & Medernach, October 2017

In less than 4 months the Priips-Kid regulation will come into force. The exercise of ensuring compliance with this regulation is not an easy one...

ALB: “Enforcement Update: Philippine Competition Act”
SyCip Salazar Hernandez & Gatmaitan, October 2017

It has been almost two years since Republic Act No. 10667, otherwise known as the Philippine Competition Act (the PCA), took effect on August 8, 2015...

Nobilis-Maximino - Fifth Pemex Farmout Public Bid
Haynes and Boone, LLP, October 2017

On September 18, 2017, the National Hydrocarbons Commission (Comisión Nacional de Hidrocarburos) (“CNH”) called an international public bid for the selection of a partner for Pemex Exploración y Producción (“Pemex”) to pursue exploration and production activities in the Nobilis-Maximino field, located in deep waters in the Perdido Belt in the Gulf of Mexico...

What are the Tax and Exchange Control Implications of Bitcoin?
ENSafrica, October 2017

With virtual currencies such as Bitcoin becoming ever more popular and accessible, it is important that South African taxpayers carefully consider the tax and exchange control uncertainties that accompany the incorporation of these relatively new systems into businesses and/or investment portfolios. We highlight below some of the tax and exchange control consequences arising from transactions involving Bitcoin...

ILPA Calls on GPs for Subscription Line Transparency
Haynes and Boone, LLP, October 2017

Download a PDF version of this alert. ILPA’s Paper In June 2017 the International Limited Partner''s Association (ILPA) published its paper "Subscription Lines of Credit and Alignment of Interests: Considerations and Best Practices for Limited and General Partners." Since then there''s been a lack of on the record industry commentary from general partners (GPs) on this paper, but it has not gone unnoticed and has triggered much discussion behind closed doors...

GDPR – new EU privacy rules: African organisations take note
ENSafrica, October 2017

  On 25 May 2018, a new set of privacy rules formed by the European Union (“EU”) will take effect. The General Data Protection Regulation (“GDPR”) seeks to replace the Data Protection Directive 95/46/EC. Organisations – including many African ones – will need to make changes to their oversight, technology, processes, and human resources to comply with the GDPR...

Mexico: Round Three – First Public Bid
Haynes and Boone, LLP, October 2017

The Mexican government announced on September 28, 2017 the first bid of Round 3. This will be the sixteenth upstream bid round in Mexico since the enactment of the energy reform in mid-2014. The new bid round (named Round 3...

Rights of Persons with Disabilities Act
Kochhar & Co. Advocates & Legal Consultants, October 2017

Rights of Persons with Disabilities Act - A well meaning legislation albeit with complex terms, anomalies and aggressive penal provisions   The Rights of Persons with Disabilities Act (“the Act”) is undoubtedly a welcome and much awaited enactment. The genesis of the Act lies in the UN Convention for persons with disabilities and the Act seeks to fulfill India’s obligations under this International treaty...

Media, Entertainment, and First Amendment Newsletter, October 2017
Haynes and Boone, LLP, October 2017

View a PDF of the October 2016 edition of the Haynes and Boone Media, Entertainment and First Amendment newsletter. The Libel Suit Strikes Back Much has changed since 1972 when reporters Woodward and Bernstein exposed President Nixon of wrongdoing. Through their extraordinary reporting, the public learned of “dirty tricks,” criminal actions and a cover-up led by this country’s leaders inside the White House...

Imagine there’s no protection
ENSafrica, October 2017

The recent spat between Yoko Ono and a Polish drinks company highlights the importance of registering trade marks.What happened in this matter was that John Lennon’s widow, Yoko Ono, threatened a small Polish lemonade manufacturer with legal action. The issue? The product that the Polish company sells in a number of European countries is called John Lemon...

 

 

WSG's members are independent firms and are not affiliated in the joint practice of professional services. Each member exercises its own individual judgments on all client matters.

HOME | SITE MAP | GLANCE | DISCLAIMER |  © World Services Group, 2017