Pension reform 1. New retirement age in Russia Starting from January 1, 2019, the retirement age willincrease by one year during each year of the transition period, until the retirement age reaches 65 for men and 60 for women. The Law stipulates that men who reached 60 years old and have had 42 years of work experience, and women aged 55 years old and have had 37 years of work experience are entitled to retire earlier — 24 months prior to reaching standardretirement age ...
The 2020 election in California as pertains to national politics was never in doubt, but despite being a deeply blue state, Californians continued to show their divide on taxing businesses and making major changes to the statewide tax code. Several ballot initiatives, both at the state and municipal level, would have radically altered how businesses and executives are taxed ...
The Government Accountability Office (GAO) recently issued its Annual Report to Congress, which provides statistics concerning bid protest filings for Fiscal Year (FY) 2020, including the number of protests filed and sustained. The chart below, included in GAO's Annual Report, summarizes this information. Click here to view the summary table As shown above, most of the data points remained constant from the prior year ...
The Pennsylvania General Assembly has concluded the legislative session. COVID-19 significantly changed the format and content of the legislative session. The operating rules were amended to permit remote voting, and the legislative focus centered on the impact of COVID-19 on schools, communities, businesses and the Pennsylvania budget for the FY 2020-2021. Below is a snapshot of some of the key areas addressed during this session ...
With the UK currently due to leave the EU at the end of this month, Brexit may cause the construction industry a continuing period of uncertainty in 2020 but the government’s agenda may also provide increased opportunities. We look ahead at what this year may have in store. Brexit The top priority for the government is delivering the UK’s departure from the EU on 31 January. How Brexit will affect the construction industry remains open to speculation ...
With the New Year, California rings in a lot of legislative changes, including a new standard for evaluating independent contractor classifications. Here is what you need to know: Independent Contractors Effective Jan. 1, 2020, Assembly Bill 5 (AB-5) became law in California by adding section 2750.3 to the Labor Code. AB-5 is the legislative response to the California Supreme Court decision in Dynamex v ...
In a slightly surprising, but nevertheless welcome, South African 2020 Budget Speech today, the Honourable Minister of Finance announced that there would be no significant tax increases to the major taxes for the forthcoming tax year. Widely anticipated increases to value-added tax (“VAT”), income tax, capital gains tax and estate duty did not materialise ...
Key Points In addition to five key victories for housing advocates discussed in an earlier alert, the California Senate passed many additional housing bills not included in their “Building Opportunities for All” Housing Package. Bills from the Housing Package that would have approved an affordable housing bond (SB 5), residential housing on certain commercial sites (SB 6), and local housing data reporting requirements (SB 477) all failed to win approval ...
Housing Highlights Throughout California, most single-family zoned parcels may now be split into two lots, with up to four primary residences. Density bonus applications may no longer be rejected if a proposed waiver of development standards will cause specific adverse impacts on the physical environment. Developers’ ability to lock in development standards under SB 330 and the Housing Accountability Act has been extended from 2025 to 2030 ...
The 2021 tax assessment of real and personal property will be determined by local Assessors in February, at which time a Notice of Assessment will be issued and mailed to property owners. Property owners should make sure to check the mail for a copy of the Notice in order to determine whether an appeal of their taxable value should be filed ...
As a reminder to our life sciences clients including drug manufacturers, medical device manufacturers, and group purchasing organizations, all Open Payments data from the 2020 program year must be reported to CMS by no later than March 31, 2021. Organizations that participate in the Open Payments program are also reminded that they must submit a final attestation that their data is timely, complete and accurate in addition to reporting data from fiscal year 2020 ...
After what can only be described as a difficult year (an annus horribilis!) for employers and employees alike, we turn our attention to 2021 and look at some of the more significant legislative changes coming into force this year. Furlough continues The Coronavirus Job Retention Scheme has been extended until 30 April 2021 ...
There were big changes in 2020 in the world of restructuring and insolvency legislation with the introduction of two new restructuring tools: the Moratorium and the Restructuring Plan, as well as the reintroduction of Crown preference. However, due to the government-imposed moratorium while the pandemic runs its course, we have seen hardly any real effects of those reforms ...
If 2020 has taught us anything, it’s that no one can predict the future. But as we start 2021, we look at some of the legislative changes impacting real estate and expected to come into force, or be progressed, this year. Residential With Brexit concluded and the prospect of vaccinations bringing the Coronavirus pandemic under control, the government is keen to pursue its agenda of levelling up the country ...
The outlook for the year ahead is uncertain with the effects of post-Brexit rules to contend with and COVID-19 continuing to restrict the way we live and work. We look at what the year may have in store for the construction industry. COVID-19 There is no doubt that the pandemic has caused challenges for the construction industry and is likely to have a significant impact into 2021 ...
This year it may be easier to predict developments in environmental law and policy than in 2020. The main reason for that is that there are several key developments that should have happened in 2020 but didn’t because of the Covid-19 pandemic. Here are our top five predictions. 1. The Environment Bill The Environment Bill is a key piece of legislation that establishes a post-Brexit environmental governance framework for England ...
On Friday, May 30, 2021, the U.S. Department of Treasury released its “General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals” (the “Green Book”). The Green Book, a copy of which is locatedhere, provides detailed descriptions of the Biden Administration’s legislative tax proposals, which the White House formally announced on May 28, 2021, when it released its fiscal year 2022 Budget proposals ...
If anyone had told you that 2020 would be a year in which you are virtually guaranteed a lie-flat bed in economy class, businesses instructed employees not to come into the office, and budget supermarket Sheng Siong’s shares outperformed bank blue chip DBS’s, you would have sent the chap to have his head checked.But as the new coronavirus spread worldwide, the ensuing Covid-19 pandemic forced billions into lockdown ...
