On December 20, 2022, the federal government's Single-Use Plastics Prohibition Regulations1 (the ?Regulations?) gradually came into force, with the effect, as the name suggests, of prohibiting (or restricting, in certain cases) the manufacture, import and sale of certain single-use plastics that pose a threat to the environment ...
On May 17, 2024, Law No. 21,664, which amends the Chilean Sanitary Code to define the concept of meat and prohibit the use of this designation for products that are not of animal origin, was published in the Official Gazette. This law introduces a new Paragraph III to Title II of Book Four of the Sanitary Code, called “Of Meat” ...
With the first UAE corporate tax registration deadline looming (31 May 2024), companies and other businesses need to ensure that they have checked their deadline to register as a taxable person.The registration process under the Federal Law No. (47) 2022 (CT Law) is still new to the UAE and 2024 marks the first mandatory year for companies to register with the Federal Tax Authority (FTA) as a taxable person ...
Dear Ladies and Gentlemen! Most of the products imported to Russia are subject to strict regulations under Russian and EAEU1 laws. They are regulated by: The general legislation of Federal Law No. 184-FZ dated 27 December 2002 “On Technical Regulation”, which is applied in the absence of special regulation; Special technical regulations for certain types of goods, e.g ...
In July 2023, the World Seafood Center opened its new facility at Oslo Airport, the world’s largest refrigerated terminal for handling of fresh seafood. Large quantities of seafood are being exported from Norway every day from this terminal ...
SyCipLaw's Tax Department has prepared an international edition of its Tax Issues and Practical Solutions (T.I.P.S.) for the first quarter of 2024. The SyCipLaw T.I.P.S - International Edition covers the following tax issues: 1. Are informal settlement agreements between the Commissioner of Internal Revenue and the taxpayer valid and binding? 2. While a tax case is pending in court, may the CIR and the taxpayer enter into a compromise agreement and request for judicial approval thereof? 3 ...
The Food Standards Agency (FSA) has launched a campaign highlighting the risks of food labelled as vegan to people with allergies. Research from the FSA has shown that 62% of consumers with an animal-based allergy were confident that products labelled as ‘vegan’ were safe to eat. The FSA says this confidence is incorrect and is putting people at risk ...
On March 28, 2024, the Department of Finance Canada announced a one-year extension to the 15% Mineral Exploration Tax Credit (?METC?) available to investors in flow-through shares. The extension means that the METC will be effective until March 31, 2025. This announcement came at a time when uncertainty loomed over the industry and some stakeholders feared that the government would not renew the METC. Over time, this tax credit has become a key component of flow-through share financings ...
SyCipLaw's Tax Department has prepared Tax Issues and Practical Solutions (T.I.P.S.) for February.The February 2024 issue covers the following tax issues:1. What is Republic Act No. 11976 and why is it relevant to tax?2. Are cross-border services provided by non-resident foreign corporations now subject to income tax and VAT under Revenue Memorandum Circular No. 5-2024?Please read the full texthereor via thislink ...
The CRMA seeks to encourage Member States towards undertaking Strategic Mineral Projects, focusing on essential minerals like Copper, Titanium, Nickel (battery grade), Lithium (battery grade), and Rare Earth Elements for magnets. The overarching objective is to enhance the EU’s extraction capacity and become less dependent on suppliers from outside the EU ...
British Virgin Islands Economic Substance - frequently asked questions Who has to comply with the Substance Legislation? All companies and limited partnerships that are registered or incorporated in the British Virgin Islands (“Entities”) must comply with the Substance Legislation. The Substance Legislation does not apply to trusts or general partnerships ...
On January 1, 2024, regulations implementing the Corporate Transparency Act (“CTA”) became effective, triggering new reporting obligations for many entities conducting business within the United States ...
Although it is not often well-understood in business and tax circles, the Indian Act (the ?Act?), coupled with federal and provincial tax laws, provides several tax planning opportunities for Indigenous taxpayers. These laws provide various tax exemptions for people who qualify as ?Indians? under the Act, as well as for ?bands? and other ?councils ...
Governments around the world are thinking about encouraging data sharing on a larger scale by using regulation. In the EU we have the EU Data Act, which will take effect in 2025 so is fast coming around the corner. It’s a juggernaut, and once it hits things may never be quite the same again. So what effect will it have? A recent CJEU ruling illustrates some of the problems it is likely to cause ...
Episode 8 of the Journey Through a Contract series highlights the key considerations when a business is entering into a contract with a consumer. This podcast examines the key considerations parties should give to contractual rights and obligations as they flow through a supply chain. A supply chain can consist of a number of different contracts, including those with raw material suppliers and manufacturers at the start, to distributors and customers at the end ...
SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) senior partner Carina "Caren" Laforteza and special counsel Catherina "Kate" Fernandez discuss the taxation of AI in light of recent developments concerning the concept of situs of taxation as interpreted by the Bureau of Internal Revenue (BIR), the local tax authority in the Philippines ...
Many founders are familiar with tax-exempt charitable organizations. These nonprofit entities—which are commonly known by reference to Section 501(c)(3) of the Internal Revenue Code—are operated exclusively for a broad range of charitable purposes. 501(c)(3) organizations come in a wide range of flavors, including private foundations, donor-advised funds, and public charities ...
In an earlier article in this series, we already discussed the planned changes in terms of moveable income. Whilst the changes may seem relatively limited at first glance, Dutch residents immigrating to Belgium will however encounter several peculiarities as set out in this article. Capital gains Capital gains, i.e. on shares, are in principle taxable in the state of residence ...
in the past week, guidance has been provided by both the Ministry of Finance and the Federal Tax Authority (FTA) regarding deadlines for Corporate Tax registration.The new deadlines have the potential to significantly reduce the time left for meeting the deadlines for Corporate Tax registration. For example, certain applicable taxable persons will be required to submit the Corporate Tax registration applications by 31 May 2024 in order to avoid a violation and the applicable penalties ...
SyCipLaw’s Tax Department has listed down its Top 10 Tax Issues and Practical Solutions (T.I.P.S.) for 2023. Please read the full text hereor via this link. The SyCipLaw's Top 10 Tax Issues and Practical Solutions (T.I.P.S ...
The new double tax treaty between Belgium and the Netherlands will introduce significant changes compared to the current Article 5 on permanent establishments. Due to the positions of Belgium and the Netherlands to the Multilateral Instrument (MLI), only the anti-fragmentation rule is applied under the current treaty. Under the new treaty, alignment is sought and found with the other changes proposed by the MLI for permanent establishments ...
