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The Philosophy Behind the Successful Economic Substance Regime of the BVI
Morgan & Morgan, November 2020

Following the introduction in the British Virgin Islands (BVI) of the Economic Substance (Companies and Limited Partnerships) Act, 2018 (ESA), which became effective on January 1st, 2019, some questioned the sustainability of BVI’s position as a leading international financial centre. While we cannot underestimate those concerns, we believe that there is also evidence that ESA will not have a negative impact on the BVI...

Fine Practices of the Data Protection Supervisory Authorities Under Scrutiny
Heuking Kühn Lüer Wojtek, November 2020

The German Federal Commissioner for Data Protection and Freedom of Information (BfDI) sees the decision as a success: On November 11, 2020, the District Court of Bonn reduced the fine imposed on 1&1 Telekom GmbH for a data protection breach from an original EUR 9.55 million to EUR 990,000.00, thereby fundamentally calling into question the fine practices of the German supervisory authorities...

Invoking Copyright to Block the Submission of Evidence? Nice Try, But No Cigar!
ALTIUS/Tiberghien, November 2020

The Court of Justice of the European Union delivers judgments regarding the concept of “communication to the public” faster than legal scholars can read and dissect them. While we are eagerly awaiting the Court’s analysis of different types of hyperlinking, it has taken less than two months to follow Advocate General Hogan’s opinion regarding the emailing of evidence containing copyrighted works to a court in legal proceedings...

Regional Comprehensive Economic Partnership Signed
DFDL, November 2020

On 15 November 2020, leaders of the ASEAN Member States, Australia, China, Japan, Republic of Korea and New Zealand witnessed the signing of the Regional Comprehensive Economic Partnership (“RCEP“) Agreement. The RCEP Agreement marks ASEAN’s biggest free trade pact to date, covering a market of 2.2 billion people with a combined size of US$26.2 trillion...

The Proposed Indian Copyright Amendment Rules and Suggestions for Further Amendment
Kochhar & Co. Advocates & Legal Consultants, November 2020

The Copyright Office of the Department for Promotion of Industry and Internal Trade (DPIIT) has invited comments and suggestions to amend the Copyright Act before November 30, 2020. Mid last year, the DPIIT proposed a set of amendments to the Indian Copyright Rules. While these amendments sought to increase transparency and provide clarity for right holders, many other essential modifications were overlooked...

Lessons for Technology from COVID-19: M&A Transactions for Digital Assets
MinterEllisonRuddWatts, November 2020

Disruptive events tend to accelerate existing trends, and COVID-19 is no exception. Technology is transforming the way businesses operate, the products and services they offer and is reshaping the global M&A landscape – and the speed of adoption is significant...

Implementation of 2018-2022 National Strategy for the Protection of Switzerland Against Cyber Risks – Quarterly Report
Walder Wyss Ltd., November 2020

On 19 October 2020 the Federal Council's Cyber Committee adopted a report on the advancement of the 2018-2022 national strategy for the protection of Switzerland against cyber risks (2018-2022 NCS) and its gradual implementation. The report focuses mainly on the progress made in supporting small and medium-sized enterprises (SMEs) and promoting research and training...

The Proposed Indian Copyright Amendment Rules and Suggestions for Further Amendment
Kochhar & Co. Advocates & Legal Consultants, November 2020

The Copyright Office of the Department for Promotion of Industry and Internal Trade (DPIIT) has invited comments and suggestions to amend the Copyright Act before November 30, 2020. Mid last year, the DPIIT proposed a set of amendments to the Indian Copyright Rules. While these amendments sought to increase transparency and provide clarity for right holders, many other essential modifications were overlooked...

Moving from Brexit 1.0 to Brexit 2.0
Shoosmiths LLP, November 2020

What will UK data protection look like after Brexit 2.0 on 31 December 2020? Regime 1: the 'UK GDPR': the UK's new bespoke version together with the Data Protection Act 2018 The UK GDPR will be the UK data protection regime based on the 'EU GDPR' (see below)...

What Happened to My Capital Account? New Partnership Reporting Requirements for 2020 and Beyond
Dykema, November 2020

On June 5, 2020 the Department of the Treasury and the Internal Revenue Service (“IRS”) issued Notice 2020-43 (the “Notice”) proposing two alternative methods to satisfy tax capital account reporting requirements as the only methods for reporting partner’s capital accounts under the tax basis method for taxable years that end on or after December 31, 2020...

Michigan Voters Add Constitutional Protections for Electronic Data and Communications
Dykema, November 2020

While public attention focused on the federal and state elections, Michigan voters made an important decision—they adopted Proposal 20-2, which amended Michigan’s Constitution to extend its protection from unreasonable searches and seizures to electronic data and communications...

Indian Project Office of Foreign Company Not Engaged In Core Business Activities Not a Permanent Establishment (PE): Supreme Court
Kochhar & Co. Advocates & Legal Consultants, November 2020

Strap: In a recent case of Samsung Heavy Industries, the Indian Supreme Court held that the Project Office of the company cannot be termed as PE under the provisions of India-Korea Tax Treaty as it is solely carrying out activities of an auxiliary nature...

Newsletter: Fintech Legal News in Argentina - Edition No. 13
Beccar Varela, November 2020

In this newsletter you will find a selection of the main legal news related to the fintech and digital banking market in Argentina. 3.0 transfers New open and interoperable model for instant payments As we anticipated in previous bulletins, the Central Bank (BCRA) completely updated the system of immediate electronic payments existing until now, taking it to a much more ambitious, interoperable and open model, which aims to interconnect bank accounts and accounts on an equal footing...

Home Office - A Risk for Privacy and Cyber Security? What Companies Need To Do
Heuking Kühn Lüer Wojtek, November 2020

The Coronavirus pandemic has caused a shift in the paradigm of modern-day workplaces. Companies across the globe have seen a rapid and widespread shift to remote work, making compliance with the GDPR harder than ever. The Federal Office of Information Security (BSI), in its recent report on the ‘State of IT Security in Germany 2020’, expressed its concern and indicated a ‘tense situation’ for data protection in the country...

Is Facial Recognition Dead in Canada?
Lawson Lundell LLP, November 2020

The Privacy Commissioners of Canada, Alberta and British Columbia issued a joint investigation report, finding that Cadillac Fairview did not obtain adequate consent for the collection of digital images of faces through facial recognition technology (Anonymous Video Analytics) installed in wayfinding directories in some of their Canadian shopping malls...

Does VAT Apply to Bare Land that is Leased to a Tenant Who will Develop It?
Afridi & Angell, November 2020

The supply of undeveloped (bare) land is exempt from value added tax (VAT) pursuant to Article 46 (3) of UAE Law No 8 of 2017. Bare land (as opposed to covered land) is defined as ‘land that is not covered by completed, partially completed buildings or civil engineering works’ pursuant to Article 44 of Cabinet Decision 52 of 2017...

Tax Updates October 2020: SyCipLaw Tax Issues and Practical Solutions (T.I.P.S.) Vol. 4
SyCip Salazar Hernandez & Gatmaitan, November 2020

The SyCipLaw T.I.P.S. for October cover the following tax issues: 1. When the taxpayer cannot be located, what are the options available to a Revenue Officer in serving an electronic Letter of Authority?  2. Is the sale, barter, exchange or other disposition through Initial Public Offering of shares of stock in closely held corporations subject to tax? 3...

Shearn Delamore & Co. Legal Update October 2020 (Tax and Revenue)
Shearn Delamore & Co., November 2020

Income tax The Income Tax (Prescribed Fees under Schedule 5 to the Act) Rules 2020 have been gazetted on 22 September 2020 and have come into operation on 25 September 2020. The following public rulings and guidelines have recently been published on the Inland Revenue Board of Malaysia’s official website:i. Appeal Against an Assessment and Application for Relief (Public Ruling No. 7/2020) issued on 7 October 2020 to replace Public Ruling No. 12/2017 dated 29 December 2017;ii...

Cambodia: Additional Measures to Support Private Sector Workers & Revive the Post-COVID-19 Economy
DFDL, November 2020

On 30 September 2020, the Royal Government of Cambodia (“RGC”) issued a press release and rolled out ‘Round 6’ of measures aimed at mitigating the impacts of COVID-19 on businesses and workers in Cambodia. These represent a combination of new and existing measures (that have been extended)...

Top tips on comparative advertising
MinterEllisonRuddWatts, November 2020

Comparative advertising is a risky method of advertising. But if care is taken to address those risks, comparative advertising can be an incredibly effective tool for your business. It also has an important part to play in regulating competition and educating consumers. Comparative advertising compares a product produced or service provided by the advertiser to an equivalent product or service produced or provided by a competitor (or competitors)...

Environmental Claim ‘Flushable' Not False or Misleading
MinterEllisonRuddWatts, November 2020

The Full Australian Federal Court recently upheld the decision that Kimberly-Clark’s Kleenex Cottonelle Flushable Cleansing Cloths (Kleenex Wipes) did not make false or misleading claims in using the word ‘flushable'. The guidance on the evidence required and weight given to complaints is instructive for New Zealand entities making environmental claims...

How to Avoid False or Misleading Pricing Representations
MinterEllisonRuddWatts, November 2020

Pricing representations receive ongoing scrutiny from the Commerce Commission. The Commission frequently brings enforcement action in this area and in recent years the Commission has signalled that it receives a significant number of complaints from consumers who have been misled by or are concerned about pricing practices...

Is Your Business Fit to Lead in the New World Economy?
MinterEllisonRuddWatts, November 2020

There can be few tougher tests of leadership than the ones that 2020 has thrown at company directors and leaders. The days of worrying about disruption driven by technology seem like a dream in comparison with the urgency, pace, breadth and scale of the challenges that have pounded companies and sectors up and down New Zealand – and around the world...

A Cure for Covid-19 and a Vaccine for Creditors?
TSMP Law Corporation, November 2020

Balance has been tipping over from creditors to shareholders and the pandemic is only bringing this deepening fault line to the fore. Covid-19 slammed into the global consciousness this March and, as expected, immediately torpedoed the markets. But despite the worsening economic data hogging news headlines, exacerbated by intensifying US-China tensions, the markets have paradoxically strengthened since...

New Swiss DLT Regulation as of 2021
Walder Wyss Ltd., October 2020

On 25 September 2020 Parliament approved new regulations for Blockchain and Distributed Ledger Technology (DLT).(1) The goal of this new legal framework is to further establish and increase Switzerland's reputation as a leading, innovative and sustainable location for fintech and DLT companies. DLT framework DLT allows shared data management and, in particular, shared accounting among participants that do not know or do not trust each other's identity...

 

 

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