SyCipLaw's Tax Department has prepared an international edition of its Tax Issues and Practical Solutions (T.I.P.S.) for the third quarter of 2023. Please read the full texthereor via thislink. The SyCipLaw T.I.P.S - International Edition covers the following tax issues: 1 ...
The Environment Agency has been found in breach of the Regulators’ Code by failing to provide a proper appeal mechanism for challenging Compliance Assessment Reports. It must now decide how to provide permit holders with a new appeal mechanism ...
By means of Exempt Resolution No. 1,268 dated November 20, 2023, published in the Official Gazette on November 30 (the "Resolution"), the Ministry of the Environment (the "MMA") opened a public information period to receive background information to regulate photovoltaic panels in the draft Supreme Decree that will establish collection and recovery goals and other obligations associated with piles and electrical devices (the "Decree"). As a context, by means of Exempt Resolution No ...
What is a JPUT? A Jersey Property Unit Trust (JPUT) is a legal structure whereby legal ownership of assets (primarily non-Jersey real estate) is vested in one or more trustees who hold the assets on trust for the benefit of unitholders upon the terms of a written trust instrument. What are the benefits of a JPUT? JPUTs have many plus points: Familiarity: JPUTs are generally recognised and accepted by investors, lenders, advisers, regulators and tax authorities in the UK and elsewhere ...
1. How do you foresee the evolving regulatory landscape in offshore jurisdictions impacting Asia-based clients in 2024, and what strategies is your firm considering to navigate these changes effectively? Anthony McKenzie (AM): Asia is the world's largest and most populated continent, comprised of many different economies, cultures and laws. The use of Cayman, BVI and Bermuda structures has a long track record throughout Asia and it is this familiarity which has contributed to their popularity ...
On November 15, 2023 the Ministry of Industry and Trade has submitted to the authorized departments for approval a draft governmental decree (“Decree”) banning the use of polymer goods and packaging waste from which is not recyclable or inefficiently extracted. In case the draft Decree receives positive feedback, it will undergo further consideration in the Russian government and subsequently adopted ...
Probate and estate administration for non-Jersey domiciliaries Why do I need a Jersey grant of representation? Jersey is an independent legal jurisdiction for estate administration purposes ...
Law firms periodically receive requests for advice from CPAs regarding a client’s need to come into compliance with the relatively new and sometimes confusing “economic nexus” or “Wayfair” rules for selling goods or providing services to customers in another state ...
Most founders are familiar with Section 1202 of the Internal Revenue Code, which provides a tax exemption for the sale of Qualified Small Business Stock (QSBS). Less well known is Section 1202's cousin, Section 1045, which provides certain tax benefits for a "rollover" of proceeds from the sale of QSBS into replacement QSBS. The basic rules are as follows: The original QSBS must be owned for at least 6 months prior to its sale ...
The recent Autumn Statement contained little support for charities as the sector continues to face increased demand, higher costs and reduced funding ...
Since the enactment of the statutory donor-advised fund (“DAF”) rules under the Pension Protection Act of 2006, sponsoring organizations that manage DAF programs have relied on the Internal Revenue Code (“IRC” or the “Code”) and certain limited administrative guidance to structure and operate DAFs ...
By means of Agreement No. 33/2023 dated November 3, 2023, the Council of Ministers for Sustainability and Climate Change approved the proposed Supreme Decree that establishes collection and recovery goals and other obligations associated with the priority product lubricating oils (the "Decree") prepared by the Ministry of the Environment (the "MMA") ...
Please note the following press release. This press release is available at our homepage. Heuking advises the City of Frankfurt am Main on leasing LATERAL Towers A team led by Heuking Partner Dr. Frank Baßler advised the City of Frankfurt am Main on legal and tax matters associated with leasing the “Lateral Towers” from CELLS group ...
On November 2, 2023, in response to certain controversy, the Canada Revenue Agency (?CRA?) sought to clarify the application of the new disclosure rules, in force since June 22, 2023. The CRA?s comments relate, in particular, to the impact of reporting obligations on severance agreements, a topic we initially covered a few weeks ago1. We believe it is appropriate to go over these clarifications ...
Interest in the development of offshore wind power projects in Finland has increased significantly in recent times. As project developers are exploring the opportunities to construct wind farms in the exclusive economic zone ("EEZ") of Finland, many find themselves wondering how the permitting process will be arranged and how the final project developer with the exclusivity over an area will be selected ...
Background In the lead up to the entry into force of the EU Ship Recycling Regulation, sustainable dismantling of vessels was put higher on the agenda for shipowners and stakeholders, and authorities in EEA tested cases on ship recycling under the waste regulations prohibiting export of waste from the EEA ...
On September 29, 2023, Decree No. 4, dated January 25, 2023 (the "Regulation"), issued by the Ministry of the Environment (the "Ministry"), was published, coming into force the Emission Compensation System for stationary sources subject to Green Tax[1] (the “System”). The System promotes the development of emission reduction projects (the "Projects") ...
The King's Speech 2023 unveiled an ambitious vision for the future of transportation - heralding a new era of self-driving vehicles in the UK. The speech introduced a comprehensive plan to integrate autonomous vehicles into daily lives, as part of the government's commitment to advancing transportation technology. The proposed Automated Vehicles Bill will provide the Department for Transport with the necessary authority to certify the safety of driverless vehicles ...
Canada?s finance minister unveiled a series of legislative proposals on August 4, 2023 aimed at making significant changes to the flow-through share system, particularly as regards lithium exploration. Although a number of these changes had already been announced in the 2023 federal budget, e.g ...
