An interesting piece of news in the sphere of tax law has recently been provided by the Court of Justice of the European Union (CJEU) decision that found Portuguese withholding tax rules to be breaching EU law.The case concerns a loan given to Auto Estradas do Litoral SA ("Brisal"), a Portuguese company by the Irish bank – KBC Finance Limited ...
IntroductionOn 6 June 2013 the Council of Ministers approved the bill to finalise the transposition of Directive 2003/49/ EC of the Council of 3 June into the IRC (corporate income tax) Code. The Directive, which establishes a common system of taxation applicable to interest and royalty payments made between associated companies of different Member States, is commonly known as the ‘Interest & Royalties Directive’ ...
IntroductionOn 6 June 2013 the Council of Ministers approved the bill to finalise the transposition of Directive 2003/49/ EC of the Council of 3 June into the IRC (corporate income tax) Code. The Directive, which establishes a common system of taxation applicable to interest and royalty payments made between associated companies of different Member States, is commonly known as the ‘Interest & Royalties Directive’ ...
Recent insider trading charges are shining a renewed spotlight on the need for companies to take a fresh look at their insider trading policies. On May 31, 2018, the SEC issued a press release announcing that it has filed civil charges against an executive of a bulge bracket investment banking firm in an insider trading scheme based primarily on the “misappropriation theory” of insider trading. On the same day, the FBI and the U.S ...
Given the ubiquitous nature of end-user license agreements, terms of service, and similar agreements for websites and other software,[1] it is unsurprising that a company has filed a Petition for Certiorari with the Supreme Court this term (in Genius v. Google) asking the Court to consider the extent to which the Copyright Act preempts private contracts involving a promise not to copy digital content ...
Although the deadline for “incurring” CARES Act funds has passed, Alaska Native Corporations can still use CARES Act funds to pay for administrative and compliance related expenditures in 2022, including staff time spent administrating programs and CARES Act expenses incurred by December 31, 2022. According to U.S ...
A fierce fight for the leadership of the World Intellectual Property Organisation (”WIPO”) reflects an ever-growing recognition of the importance of IP. The US has seemingly secured a major victory in its quest to prevent a Chinese official from becoming the director general of WIPO. It has achieved this by backing a candidate from Singapore, Daren Tang, the head of the Singapore Intellectual Property Office ...
Last year, a would-be H-1B nonimmigrant employee had about a 14% chance of their registration being selected in the annual lottery. In response to backlash from U.S. employers following the extraordinary low selection rate for FY 2024, the Department of Homeland Security (DHS) acknowledged the H-1B cap registration process, implemented in 2020, allows for misuse and fraud and proposed changes to increase fairness and efficiency ...
Since the Executive Decree N°1793 that was enacted in June of 2009, the investment regulations in Ecuador suffered a 180 degrees change. The limitations of classification to become a supplier to the state, and the mandatory authorization by the public entity for approving the transfer of the shares of the contractor to another company, limited the participation of foreign investors in the economy ...
BackgroundSection 466(1)(a) of the Companies Act 2016 (“CA 2016”) provides that a company is deemed unable to pay its debts if it is indebted in a sum exceeding an amount prescribed and neglects to pay the sums stipulated in the notice of demand within 21 days of being served with the said notice.Through the issuance of the Prescription of Amount of Indebtedness of Company published on 26 January 2017 (“2017 Threshold Order”), this amount was fixed at RM10,000 ...
It is no secret that the world has rapidly changed over the last several months. Many companies are reevaluating their business models to adjust to the challenges caused by the world-wide pandemic and to hopefully identify new business opportunities that may arise as a result of a new business environment ...
WiMax, Worldwide Interoperability for Microwave Access, is a new product developing in Chile that promises to revolutionise Internet access. WiMax allows high speed transmission of data and multimedia services (e.g., the Internet and videos) from laptops, cell phones and other portable devices from distances greater than was possible with previous technologies. According to some preliminary tests, WiMax equipment can reach up to 40 km in open spaces ...
Those words were written nearly a decade ago and described, in brief, the complicated and confusing legal world of wills, estates and succession. The Report from which that quote comes recommended a wholesale overhaul of this area of the law. The B.C. Legislature, various interest groups and the legal community have been working on such a revision to this area of the law since ...
Contents Cayman Islands wills Cayman Islands estate administration process Trusts as an alternative Advance healthcare directives Conclusion Cayman Islands wills A will directs how a person's (also known in this context as a “testator”) assets are to be dealt with on their death. and empowers the person’s chosen executors to administer their estate after their death so as to give effect to those wishes ...
The Idea of Using Whistleblowers to Uncover and Combat Anticompetitive Arrangements is Spreading Ever Wider. Recently the European Commission Announced Introduction of Such a Tool. In a press release issued on 16 March 2017, the European Commission announced that it has launched a new tool of antitrust policy. It is an anonymous channel through which individuals can notify the Commission of cartels and other anticompetitive practices ...
The law is one of the main instruments of social impact, which is particularly evident in the midst of aglobal health crisis, when the situation and applicable regulations are changing every day. New statutes and regulations are key to maintaining the delicate balance between order and chaos, public and private interests, and the common good and individual rights ...
Many banks and other financial services businesses and corporates have started preparing for life after the London Interbank Offered Rate (“LIBOR”). We are now less than two years away from the LIBOR and other Interbank Offered Rates (“IBORs”) being discontinued. Global banks are only required to submit LIBOR until the end of 2021. The proposal is to replace LIBOR and other IBORs with (nearly) risk-free rates (“RFR”) in certain major jurisdictions ...
Litigation between the Associated General Contractors of America (AGC) and the Small Business Administration (SBA) may be nearing an end (The Associated General Contractors of America, Inc. vs. United States Small Business Administration, et al.,United States District Court for the District of Columbia). AGC initially filed a lawsuit against SBA in December 2020, challenging the introductions of Form 3509 and Form 3510 (Loan Necessity Questionnaires) in October 2020 ...
Wednesday June 30 2021 is when the Stamp Duty ‘holiday’ in its current form at least will end. The Chancellor, Rishi Sunak, introduced the temporary Stamp Duty Land Tax (SDLT) in July 2020 to boost the housing market following the first national lockdown. The aim was to save buyers from paying stamp duty on any properties valued at up to £500,000 – a saving worth up to £15,000 ...
Is now a time to think a bit differently about an old topic? Let’s see. This short article does not make that decision for your business or client. It does provide the reasons to consider it. Until the aftermath of COVID-19 passes through the American workforce, businesses experiencing coronavirus-related economic hardships will face difficult decisions. These include whether to furlough or layoff employees—an already challenging question ...
Given the difference between the effective rate of tax on capital gains and the highest marginal rate of tax imposed on income, in particular for individuals, it is important to determine whether the proceeds from the disposal of an asset are subject to capital gains tax or to income tax. In the Pick ‘n Pay case, the proceeds from the sale of certain shares were found to be capital in nature ...
Corporate flexibility Jersey’s corporate law regime is modern and flexible, providing a wide range of structuring options that can be tailored to the specific needs of the business. This flexibility is particularly useful for companies looking to list in the U.S., as Jersey companies can look and feel very similar to Delaware corporations where that is desirable. Direct listing Jersey companies can list securities in the U.S ...
