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SyCipLaw's Tax Department has prepared an international edition of its Tax Issues and Practical Solutions (T.I.P.S.) for the second quarter of 2023. Please read the full texthereor via thislink. The SyCipLaw T.I.P.S - International Edition covers the following tax issues: 1. May a public utility treat corporate income taxes as operating expenses for purposes of computing rates chargeable to consumers? 2. For input value-added tax ("VAT") refund claims filed prior to RMC No ...

Dinsmore & Shohl LLP | August 2023

The Centers for Medicare & Medicaid Services (“CMS”) has announced its proposed rules for the Hospital Outpatient Prospective Payment (“OPPS”) and Ambulatory Surgical Center (“ASC”) Payment Systems, as well as its calendar year (CY) 2024 proposed Physician Fee Schedule (“PFS”), (collectively the “Proposed Rules”) ...

Dinsmore & Shohl LLP | August 2023

The SEC has adopted final rules requiring public companies subject to the reporting requirements of the Securities Exchange Act of 1934, to disclose material cybersecurity incidents and material information regarding their cybersecurity risk management, strategy and governance. In adopting the rules, the SEC intends to benefit investors, companies and the markets by requiring more consistent and comparable disclosures across registrants on cybersecurity incidents and risk management ...

Carey Olsen | August 2023

The Policy will apply to a broader range of regulated entities and includes updates to take account of Jersey’s evolving regulatory framework. The key amendments to the Policy are as follows:  private funds or other funds with a consent issued pursuant to the Control of Borrowing (Jersey) Order 1958 (“COBO”), (which could include funds not domiciled in Jersey and unregulated funds) are not caught under the Policy ...

Shoosmiths LLP | August 2023

Property owners in the UK are already feeling the pinch, with a slowdown in activity coupled with economic factors, including high inflation and interest rates - causing a further tightening in the lending market. The Minimum Energy Efficiency Standard (MEES) regulatory regime is another cause for searching behind the sofa cushions for coppers in order to upgrade, update and 'green' existing assets ...

On June 27, 2023, the Pregnant Workers Fairness Act (“PWFA”) went into effect. This new law requires covered employers to provide “reasonable accommodations” for the known limitations of a worker relating to pregnancy, childbirth, or related medical conditions, unless the accommodation would cause the employer “undue hardship ...

Lavery Lawyers | August 2023

Introduction On June 1, 2023, the Minister of Justice, Simon Jolin-Barrette, tabled and presented Bill 29 entitled An Act to protect consumers from planned obsolescence and to promote the durability, repairability and maintenance of goods 1 (hereinafter the ?Bill?) before the National Assembly ...

Lavery Lawyers | August 2023

Last Wednesday (July 26), the Federal Court of Appeal (FCA) handed down its highly awaited decision on the patentability of computer-implemented inventions (software patents). In Canada (Attorney General) v. Benjamin Moore & Co. (2023 CAF 168), the FCA rejected the test proposed by the Intellectual Property Institute of Canada (IPIC) in the first instance decision, Benjamin Moore & Co. c. Canada ...

Carey | August 2023

As part of the preventive constitutionality control, the Constitutional Court ("TC") resolved that the provisions of the Bill that systematizes Economic Crimes and Attempts against the Environment (the "Bill"), that have the character of constitutional organic law, conform to the Constitution. Thus, for the Bill to become law, it only remains for the President of the Republic to promulgate it, and then proceed with its publication in the Official Gazette ...

Carey | August 2023

Through an announcement issued by the President of the Republic, Gabriel Boric, the government announced the general guidelines of the new fiscal agreement, confirming that the executive will not insist in the Senate on continuing the legislative process of the tax reform bill rejected in March of this year. The fiscal agreement is based on a series of principles aimed at promoting a modern tax system, fostering economic growth, and prioritizing public expenditure ...

Carey | August 2023

On July 10th, 2023, the Chamber of Deputies approved in its Second Constitutional Procedure the bill of law that, among other matters, aims to recognize Internet access as a Public Telecommunications Service (bulletin No. 11,632-15) (the "Bill"), through various amendments to Law No. 18,168, the General Telecommunications Law ("GTL"). As a result of the abovementioned approval, the Bill has been returned to its chamber of origin (i.e ...

Carey Olsen | August 2023

The Cayman Islands Court of Appeal ("CICA") has delivered a valuable judgment on the application of section 238 of the Companies Act (as revised) in Re Trina Solar Limited.[1] This case update can be read in conjunction with our previous briefing setting out certain practical points to note in 'fair value' appraisal proceedings ...

Dinsmore & Shohl LLP | August 2023

Public comment closed August 1 on the rulemaking process for a final ban on TikTok and other social media applications (“apps”) from federal contractors’ devices. The new regulation will expand upon the interim Department of Defense, General Services Administration, and NASA (“the agencies”) ban, which went into effect on June 2, 2023. Over half of all states have banned TikTok on state government devices, with more likely to follow ...

Carey Olsen | July 2023

Contents Changes to the requirements for individuals acting as a director 2022 Annual Report - Guernsey Financial Services Commission (the “Commission”) Updates to the AML/CFT Handbook Update on the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022  Financial Crime Return Rules Changes to the requirements for individuals acting as a director Acting as a director of a company or incorporated body (whether incorporated in or under the laws of the Bailiwick o

Carey Olsen | July 2023

Contents Changes to the Money Laundering (Jersey) Order 2008 Changes to the Proceeds of Crime (Jersey) Law 1999 - Schedule 2 Businesses Limited Partnerships (Continuance) (Jersey) Regulations 2023 Forthcoming changes to the JFSC's Outsourcing Policy Changes to the Money Laundering Order The Government of Jersey is set to make a number of amendments to the Money Laundering (Jersey) Order 2008 ("MLO") following the conclusion of its recent consultation ...

Carey Olsen | July 2023

Corporate income tax   Residences Companies tax resident in Guernsey are subject to income tax on their worldwide income ...

Han Kun Law Offices | July 2023

The so–called short swing profit rule ("SSPR") is originally provided in the PRC Securities Law ...

Although developments in higher education on the issue of affirmative action in admissions may not seem relevant to private employers, the U.S. Supreme Court’s recent decision should prompt employers to reexamine their own diversity, equity, and inclusion (“DEI”) and voluntary affirmative action initiatives to ensure that employment decisions are not unlawfully based on membership in protected classifications ...

Shoosmiths LLP | July 2023

As the financial services sector has developed and adopted technology, there has been a significant growth in Deferred Payment Credit, more commonly referred to as ‘Buy Now, Pay Later’ (“BNPL”) by consumers. Demonstrating the scale of growth, news outlets have recently reported that over £10 billion has been lent to consumers by BNPL companies in the last three years ...

Shoosmiths LLP | July 2023

Employees have a right under data protection law to access their personal data processed by their employer. But what is essential and best practice for an employer to consider when responding to such request? There has been a noticeable trend of an upward increase in employee DSARs over the last few years, mainly stemming from employee disputes in the workplace such as grievances and tribunal proceedings ...

Dinsmore & Shohl LLP | July 2023

This year, the Federal Trade Commission (the “FTC”) and the Department of Justice (the “DOJ”) have been modifying antitrust guidance related to healthcare, and recently enacted three notable changes.  First, the FTC and DOJ jointly issued updated Draft Merger Guidelines (the “Draft Guidelines”) to address the way the agencies evaluate a merger to determine its effect on competition ...

Carey Olsen | July 2023

On 31 July 2023, significant changes to the Eastern Caribbean Supreme Court Civil Procedure Rules ("ECSC CPR") will come into effect. Arguably the most significant changes for parties to litigation in the BVI Commercial Court are the amendments to ECSC Part 7, governing service of proceedings out of the jurisdiction ...

Shoosmiths LLP | July 2023

On 10 July 2023 in his Mansion House speech, Chancellor Jeremey Hunt announced the government’s plans to transform the UK’s financial services sector. The announcement was followed the next day by a raft of consultation documents from the DWP addressing a range of pension reforms aimed at boosting outcomes for pension savers and supporting growth across the wider economy ...

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