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UnMasked: A Generational Shift in Attitudes About Racial Inequity, Diversity And The Unique Implications for Businesses
Dinsmore & Shohl LLP, February 2021

This week, Westlaw Today published an article by Dinsmore partner J.T. Wilson III about the generational shift in attitudes toward racial equity in light of George Floyd's death and about how business owners and employers must react accordingly...

Administrative Step or Aggressive Movement? Revenue’s Announcement on Centralisation and Dispersal of Certain Categories of Corporate and Non-Corporate Taxpayers’ Files
Shearn Delamore & Co., February 2021

The Inland Revenue Board of Malaysia (Revenue)’s press release of 13 January 2021 announced the Revenue’s implementation of centralisation and dispersal of tax files for taxpayers of certain categories, with effect from 1 January 2021...

Bulletin Real Time: Latest News
Brigard Urrutia, February 2021

1. Historic: First vaccine administered in Colombia. A nurse in the Caribbean region of Sincelejo was the first Colombian to be vaccinated in the country. The original plan had been to begin the nationwide vaccination program on Saturday (February 20), but things have moved faster. Sincelejo and Montería began vaccinating today. Bogotá, Medellín, Cali, Barranquilla, Bucaramanga and Cartagena begin tomorrow...

Lao PDR: New Taxpayer Identification Numbers (“TIN”) for Individuals
DFDL, February 2021

On 10 February 2021, the Ministry of Finance has issued a Notification (? 0831/MoF) regarding the issuance of Taxpayer Identification Numbers (“TIN“) for individuals...

VAT Reverse Charge to Apply from 1 March 2021
Shoosmiths LLP, February 2021

The VAT domestic reverse charge - referred to below as the reverse charge - is a major change to the way VAT will be collected in the building and construction industry. The reverse charge regime will come into effect on 1 March 2021 and will in many instances require customers receiving building and construction services to pay the VAT due directly to HMRC, instead of paying the supplier. This is a fundamental change to the way in which VAT is administered on construction contracts...

Tax: Amber Warning for Those Contemplating Divorce or Separation
Shoosmiths LLP, February 2021

We've become familiar with the Met Office issuing “traffic light” warnings about potentially disruptive weather. Couples contemplating divorce or separation could face similarly rough going when it comes to their tax affairs, especially Capital Gains Tax (CGT) when property or a business is involved. The alert level right now would be considered “amber” - think before you separate as you might not be able to complete a settlement in time for this tax year...

Shearn Delamore Legal Update February 2021
Shearn Delamore & Co., February 2021

DISPUTE RESOLUTION Wide order of injunction sought against online marketplace operator refused in the High Court E-commerce has become an indispensable part of the country’s economy particularly with the Covid-19 pandemic. With its growing demand come legal challenges which are novel to Malaysia. Recently, our Dispute Resolution Partners K...

Golden Visa: Changes to the Rules on Obtaining a Residence Permit for Investment in Portugal
PLMJ, February 2021

The reasons for the changes to the Golden visa rules: A legislative authorisation in the 2020 State Budget 2020 authorised the Government to review the rules on residence permits for investment provided for in Law 23/2007 of 4 July by the end of 2020. The aim is to encourage investment in inland areas, urban regeneration, cultural heritage, activities of high environmental or social value, and productive investment and job creation...

Payment to Non-Residents of Canada: How Can the Multilateral Instrument (MLI) be Applied?
Lavery Lawyers, February 2021

The internationalization of trade has led to an increase in payments made by Canadian companies to non-residents of Canada, which are most of the time subject to Canadian withholding taxes. Canadian payers must ensure that they withhold the correct percentage of Canadian tax on such payments, as they are liable to the tax authorities for any failures on their part in this regard...

Adding up the Numbers: DOJ Announces Its False Claims Act Recoveries for 2020
Dykema, February 2021

In January 2021, the U.S. Dept. of Justice (DOJ) announced $2.2 billion in False Claims Act (FCA) recoveries for fiscal year 2020, which ended on September 30.[1] Although this amount is substantial, it nonetheless represents the smallest recovery figure in 10 years. These figures reflect the Trump administration’s unaggressive enforcement efforts and its restrictive view of the FCA. As recently as 2016, FCA recovery exceeded $4.5 billion. Recoveries in 2019 were $3...

Cambodia: Flow Meters on Beer Production to Encourage Tax Compliance
DFDL, February 2021

On 14 January 2021, the Ministry of Economy and Finance issued Prakas No. 010 on “the Local Manufacturers Obligation to place devices for measuring the volume of beer and non-alcoholic drinks” (“Prakas 010”). The purpose of Prakas 010 is to establish rules and procedures for managing the use of devices which measure the volume of beer, and/or non-alcoholic beverages that are produced locally...

Clarity on B-BBEE Annual Reporting Obligations for JSE-Listed Companies, But More is Needed
ENSafrica, February 2021

Over the last few years, companies listed on both the primary and secondary market of the Johannesburg Stock Exchange (“JSE”), have been obliged to comply with increasingly onerous and often unclear reporting obligations in respect of the status of their transformation. On 3 February 2021, the B-BBEE Commission offered some clarity, however, there are still uncertainties that need to be addressed for many JSE-listed companies to overcome reporting challenges...

POPIA: What you Need to Know About the Role of the Information Officer
ENSafrica, February 2021

With the Protection of Personal Information Act, 2013 ("POPIA") deadline closing in on 1 July 2021, many organisations are starting to feel the mounting pressure of becoming compliant with POPIA. A good starting point in any POPIA compliance journey is the appointment of an Information Officer for your organisation.   Who is the Information Officer? POPIA, by default, designates the head of any private body as the Information Officer...

Weekly Digest: COVID-19 Resources from Bradley
Bradley Arant Boult Cummings LLP, February 2021

Coronavirus Insights & Updates The information listed below is categorized by topic for your convenience and includes content from the previous week. Bradley is actively monitoring and engaging with relevant federal, state or local entities on issues related to the coronavirus. Please contact one of the authors if you have any questions. Click on a link below to view the full article, alert, blog, webinar recording or interview...

Re-Imagining Corporate Real Estate
Shoosmiths LLP, February 2021

This article forms part of our ‘New How: Perspectives’ report: ‘Can real estate help solve the productivity puzzle?. To access this free report, please click the link below.     We all know a happy engaged employee is a productive and successful employee. Unfortunately, the UK has one of the least engaged employee populations in Europe...

Coronavirus: Business Interruption Insurance and COVID-19
PLMJ, February 2021

The judgment of the United Kingdom Supreme Court On 1 May 2020, the Financial Conduct Authority (“FCA”), the body that oversees the insurance industry in the United Kingdom, announced that it wanted to obtain a ruling from the English courts on the meaning and effect of the sample of business interruption clauses that it selected from eight insurers in particular...

Redefining Public Private Partnerships: National Summit
Shoosmiths LLP, February 2021

Over the next decade, challenges around public funding and a shift in live/work priorities will create an increasing need for public-private collaboration as we seek to rebuild and regenerate our towns and cities in a post-Covid and post-Brexit climate...

The Second Month after Brexit: Insights for Business
Ellex Valiunas, February 2021

February marks the start of the second month after Brexit materializing. The Member States have finally understood that the United Kingdom (UK) is no longer in the Europen Union (EU) so that the  fairy-tale of the Single Market that has lasted for decades is now over. Although many businesses resolved various legal or regulatory issues before 1st January, new challenges inevitably keep arising now, when Brexit is a reality...

Indonesia’s Newly Established Sovereign Wealth Fund: A New Chapter in Indonesia’s Economy
Makarim & Taira S., February 2021

As a developing country, Indonesia is still considered to have limited Government fiscal capacity and limited state-owned enterprise (Badan Usaha Milik Negara – “BUMN”) and financial sector funding capacity indicating that domestic capacity is not sufficient to meet what is needed to finance development and support economic growth and opportunities...

Indonesia’s Ratification of the Convention Abolishing the Requirement to Legalize Foreign Public Documents
Makarim & Taira S., February 2021

On 4 January 2021, the President of Republic of Indonesia issued Regulation No. 2 of 2021 on the Ratification of the Convention Abolishing the Requirement to Legalize Foreign Public Documents (“PR 2/2021”) (the convention is hereinafter referred to as the “Apostille Convention”). The Apostille Convention was concluded on 5 October 1961 and is intended to simplify a series of formalities for documents signed overseas for the contracting states...

An Overview of Modern Cross Jurisdictional Investigation
Shoosmiths LLP, February 2021

The with backdrop of a global pandemic, John Hartley looks at the modern structure of global corporate investigations. It is a small world and getting smaller. The speed at which COVID-19 spread across the world when most easily transmitted by being within two meters of each other is a clear indication of just how small the world is getting...

UK Supreme Court Rules on Insurance Policy Wording for Business Interruption Losses due to COVID-19
Deacons, February 2021

A recent UK Supreme Court Judgment, the Financial Conduct Authority v Arch Insurance (UK Ltd) & Ors [2021] UKSC 1, clarified whether a variety of insurance policy wordings cover business interruption losses resulting from the COVID-19 pandemic and public health measures taken by UK authorities in response to the pandemic from March 2020...

Landmark Changes to German Restructuring Law: New Law on Preventive Restructuring Framework (StaRUG) Allows Preinsolvency Balance Sheet Restructuring
Heuking Kühn Lüer Wojtek, February 2021

As of 1 January 2021, a new German law (known by its abbreviation StaRUG) affords debtors with COMI in Germany with a statutory regime for a non-consensual pre-insolvency balance sheet restructuring...

Cambodia: Flow Meters on Beer Production to Encourage Tax Compliance
DFDL, February 2021

On 14 January 2021, the Ministry of Economy and Finance issued Prakas No. 010 on “the Local Manufacturers Obligation to place devices for measuring the volume of beer and non-alcoholic drinks” (“Prakas 010”). The purpose of Prakas 010 is to establish rules and procedures for managing the use of devices which measure the volume of beer, and/or non-alcoholic beverages that are produced locally...

FTC Reduces Notice Thresholds Under the Hart-Scott-Rodino Act for 2021, Increases Penalties, and Temporarily Suspends Expedited Review
Schwabe, Williamson & Wyatt, February 2021

On February 1, 2021, the Federal Trade Commission (FTC) announced its revised annual threshold that determines whether companies may be required to notify federal antitrust authorities about a proposed merger or acquisition due to the size and value of the transaction. For the first time since 2010 and a reflection of the state of the economy, the annual threshold has been reduced rather than raised, from $94 million in 2020 to $92 million for 2021...

 

 

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