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Simonsen Vogt Wiig AS | December 2021

We have in 2021 seen a remarkable (continued) recovery in the Norwegian financial market. This is also evident from the perspective of our banking and financing team. We have assisted our clients with a considerable number of new financings and refinancings, across most sectors.  It has especially been hectic within the shipping, aviation and renewable energy sectors and we have seen a steep increase within acquisition financing ...

Shearn Delamore & Co. | December 2021

Financial Services   Climate risk — progress of Joint Committee on Climate Change In a joint statement, Bank Negara Malaysia (“BNM”) and Securities Commission Malaysia announced on 10 December 2021 the following: the Joint Committee on Climate Change (“JC3”) will issue a Reference Guide on Climate Risk Management and Scenario Analysis, which sets out expectations for financial institutions to integrate climate-related risks considerations in finan

DFDL | December 2021

The General Department of Taxation (“GDT”) issued new Instruction No. 20522 (“VAT Instruction”) on 8 December 2021 which provides further clarity on the implementation of Sub-Decree 65 S.E and Prakas 542 MEF.P that were both issued earlier this year ...

Shearn Delamore & Co. | December 2021

Corporate/M&A Collaboration between Bursa Malaysia Berhad with Capital Markets Malaysia through the Elevate Programme Bursa Malaysia Berhad (“Bursa”) has on 11 November 2021 announced that Bursa will be collaborating with Capital Markets Malaysia (“CMM”) to engage and work with mid-tier companies that are seeking to undertake initial public offering in the next 24 months ...

Carey Olsen | November 2021

Whether CMC of a Guernsey company is exercised in the UK is question of fact. This briefing summarises UK tax residence points arising out of UK tax case law, focussing in particular on the most recent case of Development Securities (No. 9) Ltd and other v HMRC2, and also provides some practical guidance on how Guernsey companies can minimise UK CMC risks when there is no intention to make the company UK tax resident ...

Hanson Bridgett LLP | November 2021

Key Points New tax reporting provisions on cryptocurrency, as well as criminal consequences for noncompliance, survived in the Infrastructure Investment and Jobs Act (H.R. 3684) signed into law. The legislation imposes potential felony charges for failures to report certain "receipt" of digital assets, as well as expands the definition of "broker" to target crypto exchanges. On November 5, 2021, President Biden signed the Infrastructure Investment and Jobs Act into law ...

Hanson Bridgett LLP | November 2021

Key Points New tax reporting provisions on cryptocurrency, as well as criminal consequences for noncompliance, survived in the Infrastructure Investment and Jobs Act (H.R. 3684) set to become law. The legislation imposes potential felony charges for failures to report certain "receipt" of digital assets, as well as expands the definition of "broker" to target crypto exchanges ...

Shearn Delamore & Co. | November 2021

Dear valued clients, colleagues and friends,We are pleased to bring you the latest legal updates for October 2021 ...

DFDL | October 2021

Republic Act (“RA”) No. 11590 amends the National Internal Revenue Code (“NIRC” or the “Tax Code”) to provide the taxing rules for offshore gaming operations. Taxation of Offshore Gaming Licensees Under RA No ...

DFDL | October 2021

On 05 October 2021, the Bangko Sentral ng Pilipinas (“BSP”) issued Circular Letter (“CL”) No. 2021-72, disseminating to all BSP-Supervised Financial Institutions (“BSFIs”) the AMLC Regulatory Issuance (“ARI”) No. 6-2021 on the final extension of the deadline for compliance with the Guidelines on Digitalization of Customer Records (“DIGICUR”). ARI No ...

Shearn Delamore & Co. | October 2021

Dear valued clients, colleagues and friends, We are pleased to bring you the September 2021 issue of our quarterly Newsletter, we hope that you will continue to find its contents of value to you. In this issue’s Front Page Focus, Caitlin Tan Hui Yi, associate from our Dispute Resolution Practice Group, discusses the disqualification of solicitors in the Court of Appeal case of Dato’ Azizan bin Abdul Rahman v Pinerains Sdn Bhd ...

Dinsmore & Shohl LLP | October 2021

     The United States Trade Representative (USTR) announced a period for public comment on whether Section 301 product exclusions should be reinstated for certain Chinese-origin goods. The product exclusions eligible for potential reinstatement are the relatively small subset of exclusions for which the USTR had both previously granted an exclusion and an extension of the exclusion ...

Although Oregon’s 2021 legislative session turned out to be relatively quiet from a tax perspective, we did experience some changes to Oregon’s Corporate Activity Tax (“CAT”). Those changes were primarily in the form of SB 164. The enactment of SB 164 ushers in the following CAT changes. Fiscal Year Filings ...

Although Oregon’s 2021 legislative session turned out to be relatively quiet from a tax perspective, we did experience some changes to Oregon’s Corporate Activity Tax (“CAT”). Those changes were primarily in the form of SB 164. The enactment of SB 164 ushers in the following CAT changes. Fiscal Year Filings ...

Advance payment can be understood as: “… the payment made before the occurrence of the generating event that constitutes the future and uncertain event on which the legal force of the obligation depends” (Giulani Fonrouge and Susana Navarrine in “Procedimiento Tributario”, Editorial de Palma, page 159) ...

Carey Olsen | October 2021

In fact, the impact of the pandemic on private clients has been the opposite: many have experienced increases in their personal wealth that have been nothing short of startling. According to the Global Wealth Report published by Credit Suisse in June 2021, more than five million people became millionaires across the world in 2020 despite economic damage from the Covid-19 pandemic ...

Although Oregon’s 2021 legislative session turned out to be relatively quiet from a tax perspective, we did experience some changes to Oregon’s Corporate Activity Tax (“CAT”). Those changes were primarily in the form of SB 164. The enactment of SB 164 ushers in the following CAT changes. Fiscal Year Filings ...

DFDL | September 2021

Following our recent update on the due date of 30 September 2021 for the declaration and payment of the 2021 Immovable Property Tax (“TOIP“) and Unused Land Tax we would like to inform our readers that on the 28th of September 2021 the General Department of Taxation (“GDT“) issued Notification 16160 which has provided an extension on the deadline of the declaration and payment tax of TOIP for 2021 until 31 October 2021 ...

Schwabe, Williamson & Wyatt | September 2021

As we enter the final quarter of 2021, there are many things still to do and plan for before the end of the year. There are also some timing considerations given proposed legislative changes and the lead time needed to accomplish some of these items. You should be reviewing your year-end estate planning or business transition concerns NOW ...

Shoosmiths LLP | September 2021

This week the government has published the draft legislation for the residential property developer tax (“RPDT”) for technical consultation.    RPDT is a new tax, intended to be imposed on companies carrying out residential property development from 1 April 2022, and described by the government as being introduced “to ensure that the largest developers make a fair contribution to help fund the government’s cladding remediation costs” ...

Carey Olsen | September 2021

Background On 15 July 2021 the States of Deliberation (Guernsey's parliament) approved the Income Tax (Guernsey) (Amendment) Ordinance, 2021 (the "Ordinance") which makes a number of important amendments to Guernsey's Income Tax Law ...

Carey Olsen | September 2021

A key concern for shipowners and lenders will be where to register these new vessels. In this briefing, we consider three factors that usually influence the choice of flag state: (1) financing considerations, (2) recognition for the flag and (3) speed, responsiveness and certainty. Introduction Choosing the flag state where a ship will be registered requires balancing different factors ...

DFDL | September 2021

We would like to take this opportunity to remind our readers that the immovable property tax (“TOIP”) and Unused Land Tax deadlines for 2021 are fast approaching next Thursday (the 30th) of September 2021. The 2021 TOIP and Unused Land Tax payment can be submitted at any tax branch or any branches of the following banks: Canadia, ACLEDA, Vattanac, Cambodia Public Bank or ABA Bank ...

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