October 26, 2023 By: Jarrett Osborne-Revis In Breanne Martin v. Leslie Gladstone, the Second District Court of Appeal recently decided a case that could reverberate throughout the receivership and bankruptcy industries. This case comes at a propitious moment as bankruptcy proceedings and receiverships – particularly for distressed commercial real estate entities – trend upward in California ...
Bare trusts are increasingly being used when investors acquire investment properties as they provide a number of significant advantages. Anyone considering purchasing an apartment building should fully examine the potential use of a bare trust arrangement. What is a bare trust? A bare trust is a legal structure that facilitates the division of the beneficial and legal ownership ...
Introduction I have been asked to speak on the Base Erosion Profit Sharing of the OECD, or better know as BEPS. This is a new acronym that, similar to CRS and the harmful tax initiative program, is geared at a multilateral approach to the application of uniform tax rules and standards. Unlike the CRS and the harmful tax practices initiatives of the past, BEPS has a focus not necessarily on the private client, but on the multinational commercial organization ...
On March 31, 2020, Alameda, Contra Costa, Marin, San Francisco, San Mateo, and Santa Clara counties plus the City of Berkeley issued new Shelter-in-Place orders, further restricting construction and extending Shelter-in-Place restrictions until May 3, 2020. Under the new orders, most construction, including residential and commercial, is now prohibited. Healthcare, low income housing, specially designated public works projects, shelters, and temporary housing projects may continue ...
Key Points: Bay Area counties issued new Shelter Orders on April 29, 2020 allowing all construction to resume. The new Shelter Orders include detailed Construction Safety Protocols that construction jobsites must comply with. There is one Construction Safety Protocol for “small” construction projects, and a more rigorous Construction Safety Protocol for “large” construction projects ...
On Monday October 29, 2012 the B.C. Property Assessment Appeal Board released an important decision reducing the assessed value for property tax of the upland land and improvements at the Horseshoe Bay Ferry Terminal to a nominal value ...
The South African Revenue Service (“SARS”) has introduced a new Tax Compliance Status System (“TCS”) from 18 April 2016 in an effort to improve compliance and to make it easier for taxpayers to manage their tax affairs. The Tax Compliance Status System is a holistic view of the tax compliance level across all registered tax types ...
Originally published in DRI - For the Defense. By Hakim Bouadi, Stephanie U. Eaton, Matthew W. Georgitis, and Robert A. Plichta Bringing an engineer and an architect onto the legal team as soon as a building catastrophe happens has more than just legal benefits ...
It has already been in the public domain for a while that VAT will be applicable in the UAE (and the GCC) from the beginning of 2018. Under the VAT regime, businesses will be collecting taxes on behalf of the government and will file tax returns accordingly. Although the tax is collected at each stage of value addition, the burden of tax falls only on the end consumer. For all the other stages, one can claim a refund. For this reason VAT is called ‘consumption tax’ ...
Surfside Collapse – what we know so far: On Thursday, June 24, 2021, at approximately 1:25 a.m., Champlain Towers South, a twelve-story beachfront condominium in the Miami suburb of Surfside, Florida, partially collapsed. The collapse was reported as the third deadliest structural engineering failure in United States history. Ninety-eight people were confirmed dead, only four people were rescued from the rubble ...
“Belarus will become the first government in the world that opens wide opportunities for the use of blockchain technology”, said in a statement on the official website of the President of Belarus. Alexander Lukashenko, who signed the new law of the land, believes that his county “has every chance of becoming a regional center in this area.” The Presidential Decree of the Republic of Belarus No ...
The Supreme Court (“Hof van Cassatie/Court of Cassation”) overruled on 26 May 2023 a decision that determined that Article 1722 (old) Civil Code (a partial or total “destruction” of the leased premises) does not apply for the tenant that can not operate its premises due to the measures taken by the Belgian Government in order to prevent the spread of the COVID-19 pandemic, because there was only a temporary impossibility and thus only a temporary loss of enjoyment ...
An interesting news update has recently come up in the media, as the Serbian roads company "Putevi Srbije", and the Ministry of Construction, Transport, and Infrastructure – together with the representatives of the relevant institutions in Romania – announced that a contract on implementing a cross border project of building the Belgrade-Timisoara highway is due to be signed in the next two weeks ...
One of the main action items identified by South Africa’s National Treasury in its summary of the country’s position on the G20/Organisation for Economic Co-operation and Development (“OECD”) action plan on base erosion and profit shifting (“BEPS”), is the requirement for the South African Revenue Service (“SARS”) to update the Transfer Pricing Practice Note in line with the OECD Transfer Pricing Guidelines to include new guidance on the ar
In a Pre-Budget Report (PBR) announced to Parliament last week, the Government has set out its priorities for next year's budget. These include proposals to increase revenues via significant changes to the current employment tax regime. Perhaps the most headline-grabbing aspect of these potential reforms is the proposal to increase the employer portion of payroll tax for exempted companies, from 10.25% to 10.75% ...
Annex II is a list of cooperative jurisdictions maintained by the EU that reflects ongoing cooperation between the EU and its international partners and the commitments of these countries to reform their legislation to adhere to agreed tax good governance standards. Its purpose is to recognise ongoing constructive work in the field of taxation, and to encourage the positive approach taken by cooperative jurisdictions to implement tax good governance principles ...
Proposition 19, which was marketed as a provision to benefit homeowners who are over 55, the disabled, and wildfire/disaster victims, actually contained major property tax increases. The increased property taxes will be paid by children and grandchildren that receive California real estate (primary residences and all other properties) from their parents and grandparents ...
According to the bill, online purchases will also be taxed Recently, the government announced the submission of the latest tax reform to the Legislative Assembly, which is called the Public Finance Enhancement Plan. This new tax package is the merging of four projects that have been floating around the Legislative Assembly for a few months now ...
After getting the knowledge of GPA Model and PPP Model, the bidders need to know how to make preparation during the pre-bid stage. Following are the responses to some most frequently asked questions regarding bidding qualifications, based on which the foreign bidders can make its preparation plan ...
Are bidders required to partner with a Taiwan company to participate in the bidding process? Foreign companies may participate in the bidding process on their own, so long as they meet the bidding qualifications. Most public engineering projects permit either bidding by a single company or by a joint bid. So long as a company is able to meet the qualifications for the procurement project, it may submit a bid on its own ...
On May 28, the Treasury Department released the General Explanations of the Administration's Fiscal Year 2022 Revenue Proposals, known as the "Green Book," detailing the Biden administration's proposed changes to the Internal Revenue Code (IRC). For startup founders and early investors, the Green Book provides welcome relief ...
How retailers can harness technology to beat e-commerce at its own game. “It's official: Singapore malls are dead, as occupancy reaches its lowest level in 10 years,” screams one headline. “At some suburban malls, retailers confront the sound of silence,” another chimes in. As e-commerce takes hold, shoppers are eschewing brick and mortar in favour of the convenience of point and click ...
A North Carolina court has required Cincinnati Insurance Company to provide business interruption and extra expense coverage to 16 North Carolina restaurants that lost the use of and access to their properties due to COVID-19 civil authority orders (see North State Deli, LLC, et al. v. Cincinnati Insurance Co. et al.) ...
Former Secretary of Finance Cesar Purisima issued Revenue Regulation ("RR") No. 3-2016 prescribing the policies and guidelines on the adoption of credit, debit, and prepaid cards as an additional mode of payment for internal revenue taxes. Credit, debit, and prepaid cards were made available as an additional mode of payment in order to ease the burden to taxpayers in the payment of their taxes ...
