On March 11, 2014, Alabama formally created an independent tax tribunal and implemented additional procedural changes through the enactment of the Alabama Taxpayer Fairness Act (“Act”), which becomes effective October 1, 2014. The Alabama Senate approved legislation creating the Act on February 27, followed by House approval on March 4 and formal enactment by Governor Robert Bentley on March 11 ...
The Alabama Department of Revenue (“Department”) recently issued a proposed regulation, Prop. Ala. Admin. Code 810-6-5-.05.02 which, if approved, will dramatically alter the obligation of sellers to collect and remit local sales and use tax imposed by Alabama cities and counties. By regulatory fiat, not supported by legislative changes, the Department seeks to reverse decades of tax history and positions ...
When Alabama’s Legislature convenes for its annual session on February 2, lawmakers will once again be asked to consider a bill that would provide certain Alabamians with access to medical cannabis ...
CMS approved the Alabama Medicaid Agency’s applicationfor a 1115 Demonstration on October 21, 2021. The 1115 Demonstration, in combination with a 1915(c) Home and Community-Based Services (“HCSB”) Waiver and a 1915(i) Medicaid State Plan HCBS Program, will facilitate the creation of a new Community Waiver Program (the “Program”) ...
On January 23, the Internal Revenue Service published its long-awaited final rule on intermediate sanctions in the Federal Register. Proposed regulations were published in 1998, followed by temporary and proposed regulations in January 2001. The rule implements the excise taxes on excess benefit transactions under Section 4958 of the Internal Revenue Code, which was enacted by the Taxpayer Bill of Rights ...
Late last week, the Centers for Medicare & Medicaid Services (CMS) released a proposed rule intended to prohibit hospitals operating certain off-campus provider-based departments (PBDs) from billing under the Outpatient Prospective Payment System (OPPS). In an effort to implement Section 603 of the Bipartisan Budget Act of 2015, CMS says the proposed rule will save about $500 million a year by refocusing payments on the patient rather than the clinical setting ...
The home health industry could see its profit margins shrink further as a result of proposed updates to the Home Health Prospective Payment System (HH PPS) released by the Centers for Medicare & Medicaid Services (CMS) earlier this week. This is the fourth and final year of payment reductions mandated by the Affordable Care Act in response to perceived Medicare overpayments to home health agencies. Profit margins are estimated to average 17.2% for the home health industry, and $17 ...
The Biden administration is instructing the Department of Labor’s Occupational Safety and Health Administration (OSHA) to develop a rule that will require all employers with 100 or more employees to ensure their workforce is fully vaccinated or require any workers who remain unvaccinated to produce a negative test result on at least a weekly basis before coming to work ...
On April 17th, the IRS released Revenue Procedure 2020-25 to provide taxpayers guidance on implementing the changes to depreciation of qualified improvement property (QIP). As discussed in Waller’s prior blog post, the CARES Act provided a technical correction for the Tax Cuts and Jobs Act of 2017, which precluded QIP from receiving 100% bonus depreciation under even though it was previously eligible for 50% bonus depreciation ...
Maxim Alekseyev, ALRUD Senior Partner, and Kira Egorova, ALRUD Of Counsel, prepared an article for Trusts&Estates journal “Family Offices in Russia”. Trust&Estates is one of the most reputable journals for wealth management professionals serving the needs of high-net-worth clients and their families ...
This week we learned that Amazon, Berkshire Hathaway and J.P. Morgan Chase have joined forces to tackle employee healthcare costs. This announcement marks yet another chapter in some employers' frustration with our nation’s healthcare system. Employees are equally tired of the increasing cost of healthcare eating away what should be their wage increases even as employers pay for ever increasing health insurance premiums ...
In connection with the adoption of a new law on the ethical treatment of clinical trials of medical devices, the Folketing has made a number of changes to the rules on the affiliation and financial support of pharmaceutical and medical companies to healthcare professionals. The amendments will enter into force on 26 May 2021 ...
Dear All,This is to inform you that the Federal Law no. 88-FZ “On amendments to articles 24 and 40.1 of Federal Law “About Banks and Bank Activity” and to the Federal Law “On voluntary declaration of assets and bank accounts/deposits by individuals and on introducing amendments to certain legislative acts of the Russian Federation” (further – the “Law”) was adopted on April 05, 2016 ...
Dear All,This is to inform you that the Federal Law no. 88-FZ “On amendments to articles 24 and 40.1 of Federal Law “About Banks and Bank Activity” and to the Federal Law “On voluntary declaration of assets and bank accounts/deposits by individuals and on introducing amendments to certain legislative acts of the Russian Federation” (further – the “Law”) was adopted on April 05, 2016 ...
On June 28, 2005, amendments to Articles 420 and 421 as well as the addition of a new Article 414bis of the Health Law were published in the Federal Official Gazette, entering into force the following day. Article 414bis provides that herbal products, food supplements, perfumes and beauty products may be seized, as a precautionary measure, when they have been improperly advertised by being held out as medicines or as having characteristics or therapeutic qualities which they do not have ...
We would like to present you an overview of the most valuable changes in Tax legislation effective since January 1, 2010. Also we would like to point out the recently adopted Decision of the Presidium of the Supreme Arbitrazh Court of the Russian Federation significant from the tax standpoint ...
On 9 July 2020, the Employment (Amendment) Bill 2019 (Bill) was passed at the Legislative Council. The Bill introduces amendments to the Employment Ordinance (Ordinance) to extend the statutory maternity leave period from 10 weeks to 14 weeks, and technical amendments to rationalise the current statutory maternity leave regime (Amendments). We summarise the effect of the Amendments as follows: Current position New position 1 ...
Dear Clients and Colleagues, We write to inform you about amendments tothe "Angels Law" that were recently enacted with the aim ofencouraging private investment in new start-ups in the seed stage (the "Amendment").The "Angels Law" refers to theprovisions of section 20 of the 2011-2012 Economic Policy Law, which was passedas a temporary order and was in force during 2011-2015 (the "Law") ...
Corporate Income Tax Law: The most important change to the CIT Law is the introduction of the obligation for a non-resident tax payer to file the tax return for capital gains it generates in Montenegro. The non-resident will have to file the tax return within 30 days after the income was generated. The tax authorities will assess the tax in their resolution. Until now, capital gains tax was paid on a withholding basis ...
On July 25, 2016, China Food and Drug Administration (“CFDA”) published the latest "Measures for the Administration of Drug Registration (revised draft)” (“Latest Revised Draft”) for public comments1 ...
This is to inform that the President of the Russian Federation has introduced to the State Duma the Draft of Federal Law on amendments to anti-corruption regulations referred to the restrictions of Russian public officers (hereinafter – the Draft Law) ...
Since 1 January 2013, section 19 of the Income Tax Act, 1962 (the “Act”) and paragraph 12A of the Eighth Schedule to the Act (the “Eighth Schedule”) have determined the tax implications where a debt owing by a taxpayer is cancelled, waived, forgiven or discharged for no consideration (or for consideration that is less than the amount of the debt) ...
On June 7, 2005, a Decree amending, enacting and repealing various provisions of the VAT Law was published at the Mexican Federal Register. These amendments, to a large extent, merely renumber and relocate various provisions of the VAT Law, leaving their content unaltered. Nonetheless, it is quite important to underline that these amendments repeal any reference to “activities which fall outside the scope of this tax” in the provisions dealing with creditable VAT ...
On December 22, 2017, President Trump signed into law a sweeping tax act now known as An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018 (the “Tax Cuts and Jobs Act”). The Tax Cuts and Jobs Act is effective beginning with the 2018 tax year. Over the coming weeks, we will be alerting you to changes in the tax law and planning ideas that may help to minimize your taxes ...
All eyes were on health care in 2020, as the industry faced unprecedented challenges presented by the global coronavirus pandemic. Stories and images of overburdened frontline health care workers dominated the news cycle for most of the year, and the rapid development of one or more seemingly effective vaccines has engendered a cautious optimism for a return to normalcy in 2021 ...
