Mexico has just announced significant tax incentives for companies in certain key industries to relocate operations to Mexico. A government decree issued on October 11, 2023 seeks to boost the nearshoring trend targeting ten export-oriented manufacturing sectors. Nearshoring is the process by which a company relocates operations offshore, but close to the market where it intends to sell its products ...
Introduction In 2023, where do we stand in terms of liability where smart products are concerned? The rules governing product liability set out in the Civil Code of Québec were introduced early in the 20th century in response to the industrial revolution and the growing number of workplace accidents attributable to tool failures ...
The Finnish government proposes significant changes to transfer taxation. Transfer tax is levied on the acquisition of shares and other securities and real property. The proposed changes may have significant effects to the taxation of M&A and real estate transactions. Some of the proposed changes will decrease the tax burden while some will result in increased tax liability. The most significant changes include: The general rate for securities (1 ...
After a particularly active consultation round with approx. 140 consultation responses, together with the proposal for the national budget for 2024, the government presented a revised proposal today, 6 October 2023. The criticism from a relatively united renewables industry must be said to have fallen on relatively deaf ears and the proposal is essentially a continuation of the consultation proposal ...
With the recent implementation of electronic invoicing in El Salvador, it is of interest for taxpayers issuing VAT control documents to know the platforms enabled by the Tax Administration to comply with the technical and regulatory requirements established to allow the digitalization of the invoicing process. Art. 119-A of the Tax Codestates that electronic tax documents (DTE) shall be governed by the provisions of said code ...
Space economy, Gianni & Origoni launches the “Space Law” practice Dealflower October 3, 2023 The international law firm Gianni & Origoni announces the launch of its Space Law practice , with the aim of providing Italian and international clients with integrated legal assistance that responds to the growing needs of the Space Economy ...
UAE companies can offer significant tax benefits when used as holding companies in certain scenarios. As an example, assume that an Italian limited liability company (“ItalianCo”) holds a 90% stake in a Moroccan operating subsidiary (“MoroccanCo”) and does not have a permanent establishment in Morocco ...
Overview Jersey property law is derived from a mixture of local statute and customary (common) law. Jersey's customary law has evolved from Norman-French law and is primarily contained in the judgments of the Royal Court of Jersey and the writings of local and French jurists. In Jersey law property is either "movable" or "immovable". These classifications are broadly similar to the English classifications as "personal" or "real" property ...
How does Singapore's business environment make it an attractive location for foreign law firms? Anthony McKenzie: Singapore is considered a favourable destination for doing business due to its political stability, strong legal framework, well-regulated financial sector, competitive tax rates, excellent infrastructure and pro-business policies that attract foreign investment. It has a highly skilled and educated workforce with a strong emphasis on innovation and technological advancements ...
SyCipLaw's Tax Department has prepared the T.I.P.S. for July which covers the following tax issues: 1. May the Bureau of Internal Revenue validly serve an assessment notice through the central receiving station of an establishment where the taxpayer is a tenant without proof of authority of the person who allegedly received the mail as part of her functions? 2 ...
When does the directors' duty arise to consider creditors' interests in the face of insolvency if a liability is disputed? Hayley Capani and Kate Garcia consider the case of Hunt v Singh and conclude we still don't have all the answers. When the decision in Sequana was handed down, commentators expressed both disappointment and (dare we say it) joy that a clear test had not been laid down as to when the creditor duty arose ...
According to Supreme Decree 12 dated June 8, 2020, issued by the Ministry of Environment ("DS 12/2020"), on September 16, 2023, collection and recovery goals and ancillary obligations for producers of containers and packaging (the "Producers") within the context of Law 20,920 ("EPR Law") will become enforceable. DS 12/2020 establishes, among others, the following obligations for the Producers: Register in the Pollutant Release and Transfer Register, and provide the information requested ...
The Digital Assets Law, which is in force since February 1, 2023, aims to establish a legal framework that provides legal certainty to the transfer operations of any title of digital assets used in public offerings issued in El Salvador ...
Craig Thomas and Sarah Buxton take a look at the recent changes to corporation tax. Policy changes It is fair to say that the UK’s corporation tax rate has been on something of a policy rollercoaster of late. As far back as 2016, when the rate was 20%, George Osbourne announced that he would reduce corporation tax to 17% with effect from 2020 (and even expressed his fervent desire to get the rate as low as 15% thereafter) ...
On August 8, 2023 the President of the Russian Federation signed and published new Decree 'On suspension by the Russian Federation of certain provisions of the Double Tax Treaties' No. 585 (the “Decree No. 585”) ...
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 ...
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Corporate income tax Residences Companies tax resident in Guernsey are subject to income tax on their worldwide income ...
We would like to inform you that the Extract1 from the decision of the Sub-Commission No. 171/5 as of July 07, 2023 was published on July 12, 2023 ...
Shoosmiths’ mobility head, Jonathan Smart, was a speaker at the SMMT International Automotive Summit 2023, hosted in London. Jonathan moderated a panel discussion focused on the competitive challenges facing the UK’s automotive manufacturing sector. The summit was aimed at addressing the challenges facing the automotive sector, including building resiliency, international collaboration, unlocking potential, competitiveness and innovation ...
The European Commission has adopted revised Horizontal Block Exemption Regulations on research and development agreements and specialisation agreements, as well as revised Horizontal Guidelines. This follows a thorough review of the existent rules ...
UK REACH (Registration, Authorisation, Evaluation and Restriction of Chemicals) is the UK’s post-Brexit chemicals regulatory framework for the Great Britain (GB) market. It is regulated by the Health and Safety Executive (HSE) and has the overall aim of ensuring the protection of human health and the environment from the use of chemicals. UK REACH places responsibility for understanding and managing the risks associated with the use of chemicals on those who place them on the market (i.e ...
Labour party donor and entrepreneur, Dale Vince, has put the spotlight back on the controversy surrounding the tax treatment of carried interest received by private equity fund managers, by instructing The Good Law Project to serve a “pre-action protocol” letter on HMRC seeking judicial review of its practice of taxing such carried interest as capital gains as opposed to income ...
In Industrial Tribunal case number 3642/CCG, the applicant claimed that he had been subjected to discrimination, lack of equal pay, a breach of the grievance procedure under the collective agreement, lack of payment of a performance bonus and constructive dismissal. Firstly considering discrimination, the applicant argued that he was not allowed to avail himself of a career break to work with a company operating in the financial services industry ...
