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Extension of the Brazilian PTO Project to Eliminate its Patent Backlog
Veirano Advogados, April 2021

The INPI (Brazilian PTO) published Ordinance/INPI/PR No. 21, of March 26, 2021, which extends the Backlog Combat Project aiming at reducing the number of invention patent applications pending decision. The ordinance came into force on April 1st, 2021, and targets patent applications filed between Jan. 1st, 2017 and Dec. 31st, 2017...

Law No. 14,132/2021 Typifies New Crime of Obsessive Persecution (“Stalking”)
Veirano Advogados, April 2021

On March 31, 2021 Law no. 14,132/2021 was passed to include the crime of obsessive persecution ("stalking") in the Brazilian Penal Code, in the chapter of Crimes Against Personal Freedom, article 147-A. The new law abrogates the misdemeanor of harassment or disturbance of tranquility, until now invoked to punish stalking behavior...

Reserve Bank New Enforcement Department
MinterEllisonRuddWatts, April 2021

The Reserve Bank Te Putea Matua has established a new separate Enforcement Department.  The Department will be operationally separate from the Supervision team but both will work together to incentivise and manage prudent behaviour and to hold institutions to account for non-compliance. Who needs to read it? Why? All financial institutions regulated by the Reserve Bank. This signals a move towards a more proactive regulator to which institutions will need to respond...

Cambodia: VAT on Non-Resident E-Commerce Providers
DFDL, April 2021

In an increasingly interconnected world facilitated by the rise of global digital commerce a number of gaps have been exposed in the tax systems of countries with perhaps one of the most significant issues being the difficulties in collecting tax from those providing digital goods and services without a physical presence in the jurisdiction where those goods and services are consumed...

India Amends Copyright Procedural Rules
Kochhar & Co. Advocates & Legal Consultants, April 2021

The statutory framework for copyright in India encompasses the Copyright Act, 1957 (“CA”) and the Copyright Rules, 2013 (“CR”). This now stands amended in the form of Copyright (Amendment) Rules, 2021 (“CAR”) by the Central Government by virtue of powers conferred under section 78 of the CA. The Ministry of Commerce & Industry (Govt. of India) has duly notified this amendment[1] under Gazette notification bearing number G.S.R...

High-Income, Corporate Tax Returns Will Be Scrutinized
Waller, April 2021

In its discretionary funding request for fiscal year (FY) 2022, the Biden administration is seeking an additional $1.2 billion for the IRS – a 10.4% increase over FY 2021. $900 million of the increase will be earmarked for compliance. The additional funding in the White House proposal would enable the IRS to “increase oversight of high-income and corporate tax returns,” according to a statement issued by U.S. Treasury Secretary Janet Yellen...

Focus on COP 26: Jargon Buster
Shoosmiths LLP, April 2021

It is only seven months until the eyes of the world fall on Glasgow as it hosts COP 26. The conference comes with some terminology which might be unfamiliar. This article is designed to bring you quickly up to speed with the words and phrases you’ll be hearing a lot about in the coming months. The very basics... COP – ‘Conference of the Parties’, the parties being the 197 signatories to the UNFCCC treaty...

Freeports – Planning FAQs
Shoosmiths LLP, April 2021

The designation of eight new Freeports within England made headlines in the Budget and now the winning bidders have to put into effect their successful proposals. What will this mean in practice for those areas affected and what are the likely issues that Freeport authorities will face? We have pulled together some questions we are asked frequently on Freeports, together with the responses we have been providing to our clients...

The National Security and Investment Bill: What Does it Mean for Real Estate?
Shoosmiths LLP, April 2021

The National Security and Investment Bill will allow government intervention in transactions raising national security concerns. It will require investors in UK real estate to consider whether the regime applies and factor in any timetabling implications. The Bill is currently being examined in the House of Lords. It will introduce an independent screening regime in the UK where a transaction gives rise to national security concerns...

The American Jobs Plan Proposes Important Corporate Tax Changes
Dykema, April 2021

On March 31, 2021, the Biden Administration released a Fact Sheet for its proposed American Jobs Plan (the “AJP”). The full text of the AJP can be found here. Although the AJP is primarily a proposal for rebuilding our country’s infrastructure, positioning the U.S. to compete with China and creating millions of jobs, it also proposes important corporate tax changes necessary to fund the AJP...

Massive Tax Changes of Up to $5.8 Trillion on the Horizon
Waller, April 2021

It was only a matter of time – following the election of President Biden and Democratic majorities in both houses of Congress – before the Biden administration and legislative leaders would turn their attention to changing the tax code. While it is early in what promises to be a loud and lengthy legislative debate in Congress, tax proposals introduced by high-profile senators Elizabeth Warren (D-MA) and Bernie Sanders (I-VT) designed to raise $5...

Supreme Court of Canada Finds Federal Act on Greenhouse Gas Pricing Constitutional
Lawson Lundell LLP, April 2021

In its highly anticipated judgment, the majority of the Supreme Court of Canada found the Greenhouse Gas Pollution Pricing Act constitutional in a split 6-3 decision. The key issue before the court was whether the Greenhouse Gas Pollution Pricing Act (“GGPPA”) was constitutional. The majority decided that it was, because Parliament has jurisdiction to enact this law as a matter of national concern...

FDA Continues to Referee the CBD Market
Dinsmore & Shohl LLP, April 2021

Those in the CBD sector should be mindful of their marketing tactics, as the FDA continues to police the industry. Manufacturers of CBD products must also evaluate their quality-control procedures to ensure safe products are hitting the marketplace. As we forecasted this past December in a previous legal alert, the U.S. Food and Drug Administration continues to referee the emerging cannabidiol (CBD) product market...

Chile Announces Stricter Quarantine Measures due to New Wave of Covid-19
Carey, April 2021

The Chilean Ministry of Health, through a press conference, announced on Thursday, April 1 st , that the following measures will be implemented as of Monday April 5 th : The country's borders will be closed during the mont

The United States Corporate Transparency Act (“CTA”) of 2021
Morgan & Morgan, April 2021

What is the CTA? The CTA was enacted on January 1st, 2021 as part of the National Defense Authorization Act to prevent the use of companies to evade anti-money laundering rules or to hide other illegal activities. Under the CTA companies will be required to report information regarding its beneficial owners with a beneficial ownership registry maintained by the United States Treasury Department’s Financial Crimes Enforcement Network (FinCEN)...

Shearn Delamore & Co Legal Update March 2021 (2)
Shearn Delamore & Co., March 2021

FINANCIAL SERVICES Relaxation of FEP requirements on interest rate swap Bank Negara Malaysia has announced that nonresident banks may trade ringgit denominated interest rate swap without any underlying commitment with any participating onshore licensed banks and their appointed overseas offices (“AOOs”) with effect from 15th March 2021...

Shearn Delamore & Co Legal Update March 2021 (1)
Shearn Delamore & Co., March 2021

FINANCIAL SERVICES Further extension on short selling ban The Securities Commission Malaysia and Bursa Malaysia Securities Berhad announced a further extension, until 29 August 2021, of the existing suspension of Intraday Short Selling (IDSS) and Short Selling by Proprietary Day Traders on the stock exchange of Bursa Malaysia Securities Berhad. The scope of the ban remains the same.   Pepared by: Christina S. C...

Tax Issues for Practical Solutions (T.I.P.S): International Edition
SyCip Salazar Hernandez & Gatmaitan, March 2021

The SyCipLaw T.I.P.S. International Edition covers the following tax issues: 1. What are the salient provisions on income tax under the Corporate Recovery and Tax Incentives for Enterprises Act, or CREATE Act? On March 26, 2021, President Rodrigo R. Duterte signed the “Corporate Recovery and Tax Incentives for Enterprises Act” (Republic Act No. 11534, the CREATE Act) into law...

Anticipation of Changes to Tax Relief on Pensions Proves Unfounded
Shoosmiths LLP, March 2021

There has been a growing expectation that in order to fill the COVID sized hole in the Treasury's finances focus and ultimately action would be brought to bear on pension tax relief across defined benefit and defined contribution pension schemes. However, "Tax Day" has seen cuts to higher rate tax relief fail to materialise...

Michigan Open Meetings Act Compliance: (Nearly) Back to Business as Usual
Dykema, March 2021

As of today, March 31, 2021, no longer may public bodies take advantage of the “any reason” remote meeting provisions of the Open Meetings Act. When the Legislature extended the circumstances under which public bodies could meet remotely, it provided for limited circumstances after the “any reason” provision sunsets...

Pre-Ruling Consultation with the Canada Revenue Agency (CRA): A Little-Known yet Practical Service
Lavery Lawyers, March 2021

Canada’s tax system is very complex and tends to become more complex over time. Amendments to tax laws in recent years have not simplified our tax system, quite the contrary. The introduction of various intention tests in tax laws has also further increased tax authorities’ discretion as to the application of such laws...

Pre-Ruling Consultation with the Canada Revenue Agency (CRA): A Little-Known Yet Practical Service
Lavery Lawyers, March 2021

Canada's tax system is very complex and tends to become more complex over time. Amendments to tax laws in recent years have not simplified our tax system, quite the contrary. The introduction of various intention tests in tax laws has also further increased tax authorities' discretion as to the application of such laws. In this context, it is often a good idea to obtain the Canada Revenue Agency's (“ CRA ”) advice on the application of tax laws to proposed transactions...

Pre-ruling Consultation with the Canada Revenue Agency (CRA): A Little-Known Yet Practical Service
Lavery Lawyers, March 2021

Canada’s tax system is very complex and tends to become more complex over time. Amendments to tax laws in recent years have not simplified our tax system, quite the contrary. The introduction of various intention tests in tax laws has also further increased tax authorities’ discretion as to the application of such laws...

Digital Nomads - Legal and Tax Framework
PLMJ, March 2021

In the context of a growing transition to a digital economy, the possibility of working anywhere in the world as a remote worker is gaining more and more supporters, and this trend has been encouraged and promoted by many global companies. The concept of digital nomadism focuses on a lifestyle and work that can be considered nomadic in the sense that it does not depend on a fixed location and allows freedom to move around for extended periods of time...

Onshore UAE Trusts Law – Refresher and Overview
Afridi & Angell, March 2021

UAE Federal Decree Law 19 of 2020 Regarding Trusts (the UAE Trusts Law) was issued in September of 2020. As there was no comparable law previously, the UAE Trusts Law opened the door to trusts in the UAE for the first time (not including DIFC and ADGM trusts, the UAE’s two financial free zones). This is a potentially significant development that holds great promise, although some key questions remain...

 

 

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