Background On February 4, 2022, Law No. 21.420 was enacted, which reduces or eliminates the indicated tax exemptions thereof. This law seeks the financing of the new Guaranteed Universal Pension (PGU) in a sustainable way over time, including a series of amendments to the Mining Code, among others. Modifications Exploration Mining Concession The duration of the concession is increased from 2 to 4 years, eliminating the possibility of requesting an extension ...
When the family team at Shoosmiths is instructed to advise on international child abduction we are very much aware that the parent left behind is often living a real-life nightmare. The situation usually involves our client’s child(ren) having been abducted by the other parent and being retained in a foreign country, or there being a serious risk that the other parent is about to abduct the child(ren) from this country to somewhere overseas ...
U.S. Citizenship and Immigration Services (USCIS) released guidance on the FY2023 H-1B lottery process. Despite attempts to change the structure of the lottery selection process, the Service announced that it would continue with a random-selection lottery for 2022. The registration system will be open from 12 p.m. ET March 1, 2022 until 12 p.m. ET March 18, 2022. The application fee will continue to be $10 for each case entered into the system ...
U.S. Citizenship and Immigration Services (USCIS) released guidance on the FY2023 H-1B lottery process. Despite attempts to change the structure of the lottery selection process, the Service announced that it would continue with a random-selection lottery for 2022. The registration system will be open from 12 p.m. ET March 1, 2022 until 12 p.m. ET March 18, 2022. The application fee will continue to be $10 for each case entered into the system ...
The phrase ‘national security’ is at the heart of but not defined in the National Security and Investment (NSI) Act 2021. There are some insights from related legislation and other sources, but the absence of definition means there is legal and consequently business uncertainty. From 4 January 2022 when the NSI Act 2021 came into full effect, the meaning of national security became crucial to M&A activity concerning the UK ...
U.S. Citizenship and Immigration Service (“USCIS”) announced on January 28, 2022, that this year’s annual application period for the FY 2022 H-1B program will run from March 1, 2022, through March 18, 2022. Continuing the new electronic registration process that USCIS implemented for the first time two years ago, employers seeking new H-1B visas must register electronically with USCIS during the 16-day window. USCIS will then review all registrations submitted ...
Someone at IRS’s Chief Counsel Office realized the Service may have a qualified small business stock (“QSBS”) interpretation problem. After the IRS released multiple private letter rulings (“PLRs”) with favorable guidance on what constitutes a qualified trade or business under IRC section 1202(e)(3), IRS Chief Counsel appears to have had enough. Chief Counsel Memo (“CCA”) 202204007 (Nov ...
Is the unitary business principle the sole test for determining whether a state can tax an apportioned share of a non-domiciliary’s capital gains under the U.S. Supreme Court’s Due Process Clause and Commerce Clause jurisprudence? Jaye A. Calhoun, Bruce P. Ely, and Kelvin M. Lawrence believe so, and discuss its relevance in the last of a two-part series focusing on a closely watched case currently on appeal before the Massachusetts Supreme Judicial Court ...
Summary The 2022 proxy season will continue to be affected by the aftershocks of the COVID-19 pandemic, and will be predominantly shaped by the landmark events of the 2021 proxy season, where ESG matters moved from unconventional to mainstream, and women held a historic amount of board seats of the Russell 3000 companies ...
Introduction Non-liability clauses are often included in many types of contracts. In principle, they are valid and used to limit (limitation of liability clause) or eliminate (exoneration clause) the liability of a party with respect to its obligations contained in a contract. The recent unanimous decision of the Supreme Court of Canada confirms that under Quebec law, parties may limit or exclude their liability in a contract by mutual agreement ...
Key Points Employers that claimed a tax credit for qualified COVID-related leave paid to employees in 2021 must report the amount of leave paid in Box 14 of the employee's 2021 Form W-2 or on a separate statement. The reporting requirement is new for 2021 for governmental employers, because those employers were not eligible for a tax credit for COVID-related leave paid in 2020 ...
The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) are seeking to improve the operational resilience of the UK financial sector. This applies to many organisations, including: banks building societies, PRA-designated investment firms and insurers. The new rules and guidance will come into force on 31 March 2022. By then, firms must have identified any vulnerabilities in their operational resilience ...
The Coronavirus Aid, Relief, and Economic Security (CARES) Act assigned the U.S. Department of Treasury Office of Inspector General (OIG) responsibility for compliance monitoring and oversight of the receipt, disbursement, and use of payments from the Coronavirus Relief Fund (CRF Payments). OIG has also been given the authority to recoup CRF Payments in the event OIG determines that a recipient did not comply with Treasury regulations governing the use of CRF Payments ...
In a statement to Parliament on 14 December 2021, John Swinney, the Deputy First Minister, confirmed the appointment of Court of Session judge Lady Poole as the chair of the Scottish inquiry into the COVID-19 pandemic. The Scottish Government also announced the terms of reference for the public inquiry on the same date, with the inquiry investigating the period between 1 January 2020 and 31 December 2022. You can read the full ministerial statement here ...
Due to emergence of the Omicrom variant, the new year brought with it some now familiar guidance: the government asked workers to avoid the office and to work from home where possible. In anticipation of returning to the office in early 2022, the Health and Safety Executive (the HSE) and the Scottish Government have issued guidance emphasising the importance of good ventilation and the role that plays,alongside other measures, in helping to reduce the spread of COVID-19 ...
From 6 April 2022, the way right to work checks are conducted is changing. Virtual or “adjusted” right to work checks will no longer be acceptable Virtual checks were only ever intended as a temporary concession because of the pandemic. While they have been repeatedly extended throughout the pandemic, the Home Office is adamant that they will end once and for all, with 5 April 2022 being the final date on which they can be validly conducted ...
