In a decision that will no doubt come as a great relief to the funds, banking, and asset management industries, the Court of Appeal ruled in Nomura Funds Plc v Collector of Stamp Revenue [2021] HKCA 1040 that a merger effected by way of the universal succession of the merged company (i.e., the surviving company) to the assets and liabilities of the merging company (i.e ...
On Sept. 13, 2021, the House Committee on Ways and Means released the remainder of its numerous tax reform proposals. The proposals will be subject to continued negotiations and are not law. But, the proposals are an indication of what may be coming soon ...
On December 19, Gabriel Boric was elected as future President of Chile, and will take office on March 11, 2022. The following is a list of the main tax proposals1 of the recently elected candidate: New income tax regime: a disintegrated income tax regime is proposed for large companies, separating the tax paid at the company level from the one payable by its shareholders when withdrawing profits ...
Congress recently enacted comprehensive tax reform (the “Act”). This memorandum highlights some of the provisions of the Act that are particularly relevant to U.S. multinational groups, with a focus on the provisions relating to income associated with intangible property, as defined for applicable U.S. federal income tax purposes. New Corporate Tax Rate The Act significantly changes the U.S ...
House Democrats recently released additional legislative proposals that, if passed, would affect several commonly used estate planning techniques. Among those proposals are three that would significantly impact some of the more common wealth transfer strategies. It is too early to tell whether this legislation has any chance of passing, but clients who are planning to use strategies that would be affected by these changes should watch carefully for future developments ...
SyCipLaw’s Tax Department has prepared an international edition of its Tax Issues and Practical Solutions (T.I.P.S.) for the last quarter of 2021. Please read the full text at https://tinyurl.com/SyCipLaw-DecTIPS-Int-Vol4-2 or https://tinyurl.com/SyCipLaw-DecTIPS-Int-Vol4-3. The SyCipLaw T.I.P.S - International Edition covers the top 10 tax issues of 2021: March 2021 1 ...
Some unexpected changes have highlighted the introduction of new employee share scheme legislation, which received Royal Assent on 14 December 2009. Companies will need to give the legislation close consideration given the impact it will have on employee equity plans, particularly the drafting of plan rules and offer documents ...
The Technology and Construction Court in Downs Road Development LLP v Laxmanbhai Construction (UK) Ltd [2021] EWHC 2441 (TCC) held that an Adjudicator’s decision not to consider a line of defence was a breach of natural justice and was not enforceable, nor could part of the decision be severed. The case also contained interesting commentary as to the ‘intent’ behind the issuing of a payment notice, and how this may affect the validity of the notice ...
The Technology and Construction Court (TCC) in Quadro Services Ltd v Creagh Concrete Products Ltd [2021] EWHC 2637 (TCC) held that a claim referred to adjudication with three separate payment applications was still considered a single dispute for the purposes of adjudication. The adjudicator therefore did have jurisdiction to consider all three payment applications to determine the sum due, and the adjudicator’s decision was enforced ...
Outside the work permit regime, there are two possible types of residency in TCI-a. Permanent residency (which frequently comes with the right to work); b. Shorter term residency. Permanent residency is now available only to those who have lived and worked in TCI for a stipulated period. Previously such residency was available to individuals who made a specific level of investment in TCI: since September 2012, that is no longer the case ...
Employment cases involving teachers can involve particularly nuanced considerations for schools. It is not easy to balance safeguarding duties with employment law obligations. We look at a recent case which highlights this very issue. The welfare and safety of children is at the heart of every educational establishment’s ethos, but balancing safeguarding duties with the legal rights of teachers can present difficulties ...
Choosing the name of a sports team can be a perilous exercise. In addition to representing certain values, names are supposed to fire up the fan base and motivate the athletes themselves. It must sometimes meet with the approval of major sponsors. But when sports teams are companies seeking to profit commercially from the use of their brand, legal considerations also come into play. Team names are typically linked to the organization of sports events for which tickets are sold ...
A NEW PATHWAY From Uber to Jumia and even older technology (tech) companies like Etranzact and Chams Plc, it is arguable that Initial Public Offerings (“IPOs”) have not offered great returns for tech companies in Nigeria and across the globe[1]. Investors are speculating on whether the great tech bubble is about to burst because, considering the cost of IPOs, tech companies have to scrutinise the expected returns when contemplating an IPO ...
Tech Companies and Fund Raising: The New Way of Going Public (Part 2) In the second part of our article, we focus on Spotify, a digital music service that utilised a direct listing to become a public company, the key steps they took that differed from a traditional IPO, and how the NSE can modify its current regulatory framework to include direct listings. Case Study: Spotify Technology S ...
Tech Start-Up Companies Toolkits - ǼLEX Legal .avada-select-parent .select-arrow{background-color:#ffffff}.select-arrow{background-color:#ffffff} Are you running a start-up or contemplating starting that business and you are uncertain on how to proceed? Do not fret as AELEX Fintech centre has compiled this start-up tool kit to guide you on setting up your business ...
Introduction The Joint Committee of Parliament (“Committee”) appointed to review the draft Personal Data Protection Bill submitted its report to Parliament on December 16, 2021. The report also includes a revised draft Bill which has now been renamed as the Data Protection Bill, 2021 (“Bill”). As there is less than a week left of the winter session of Parliament, it is very unlikely the Bill will be passed by Parliament in 2021 ...
With the steady emergence of new technologies and disruption of traditional industries, the technology M&A sector is poised to continue to grow and the demand for technology-savvy legal advisers is set to rise. The purpose of this edition of the Getting the Deal Through - Technology M&A 2021 guide is to provide an overview of the various factors affecting technology M&A transactions across various jurisdictions ...
Employers, imagine that your employees’ use of Facebook and Twitter is akin to being at the controls of a forklift. Consider the employee who is angry because he has not been adequately trained and is tired of having to be on call 24/7, or the employee who is upset because she believes overtime is being unfairly distributed among company personnel ...
The Court of Appeal has partially clarified a significant loophole in the Telecoms Code, which was threatening to prevent the redevelopment of some telecommunications sites. The previous iteration of the Telecoms Code was infamously labelled ‘not one of parliament’s better drafting efforts’ by the High Court ...
March 24, 2022 By: Andrea Musker The Consolidated Appropriations Act of 2022, signed by President Biden on March 15, 2022, extends federal telehealth flexibilities beyond the expiration date of the public health emergency for a limited time. The public health emergency is currently set to expire on April 16, 2022, but it may be renewed for another ninety days ...
