At the same time, the effective rate of tax on dividends for high earners will rise from 25% to 36%. No changes are currently proposed to the rate of capital gains tax which means it will remain at 18%. However, both main parties have now admitted that further tax increases are likely. With the gap between income tax and capital gains being a massive 32%, it seems unlikely that the current generous rate of capital gains tax will remain in place ...
Pursuant to Article 74, 2nd paragraph, of the Brazilian labor code, companies with more than ten employees should control the working hours of its employees by means of manual, mechanic or electronic time registers. Electronic time registers (“ponto eletronico”) have been commonly used by employers to keep track of employees’ work hours ...
When a company goes into administration, a statutory moratorium takes effect to help the administrators achieve the objectives of the administration. Amongst other things this means that no legal process can be started or continued against the company without the consent of the administrators or the court ...
Several countries have already introduced the concept of “temporary non-residents” into their tax orders, thus enabling them to lay down special rules regarding the taxation of income received by those who are habitually resident in these countries, but take up residence in another country for a certain period – which as a rule does not exceed 5 years and is very often a result of secondment - and subsequently return to their former country of residence ...
ON OCTOBER 27TH, THE HONOURABLE JIM FLAHERTY, MINISTER OF FINANCE, ANNOUNCED AN IMPORTANT PLAN TO REFORM FEDERALLY REGULATED PENSION PLANS(1). THIS REFORM PLAN IS THE RESULT OF EXTENSIVE CONSULTATIONS THAT BEGAN IN JANUARY 2009 WITH THE RELEASE OF A DISCUSSION PAPER ENTITLED STRENGTHENING THE LEGISLATIVE AND REGULATORY FRAMEWORK FOR PRIVATE PENSION PLANS SUBJECT TO THE PENSION BENEFITS STANDARDS ACT, 1985 ...
How can the government’s attitude and approach to internet issues best be described? The Canadian government recognises that Canada is a small country in a global economy and it pursues a general policy to ensure that Canada is ‘connected’ ...
On October 27, 2009 the Minister of Finance Jim Flaherty announced a number of proposed changes to the pension framework in Canada. Most of the proposed changes will be made to the Pension Benefits Standards Act, 1985 (Canada) (the “PBSA”), which governs federally regulated pension plans ...
Labour & Employment Law Update A Cautionary Tale about Temporary Layoffs A recent decision of the B.C. Supreme Court, Besse v. Dr. A.S. Mechner Inc., 2009 BCSC 1316, serves as a reminder that employers do not have the right to lay off employees temporarily (and without severance) unless this right is specified in the employment agreement. In this case, a dentist was seeking to reduce the staffing costs associated with his practice ...
Much has been and continues to be written about applications for cost-sharing under section 329 of An Act respecting industrial accidents and occupational diseases (the “AIAOD ”).Art. 329 I n the case of a worker already handicapped when his employment injury appears, the Comm ission may, on its own initiative or on the application of an employer, impute all or part of the cost of the benefits to the employers of all of the units ...
In recent times, the issue of post-retirement healthcare benefits has taken on a heightened significance for employers and sponsors of pension and health and welfare plans. Factors such as an increasing number of retirees, rising drug and healthcare costs and government cutbacks to universal healthcare programs are causing organizations to re-evaluate the extent to which they can or are willing to continue to provide post-retirement healthcare benefits ...
The quality of public services in Indonesia is expected to improve after the issuance of Law No. 25 of 2009 dated 18 July 2009 regarding Public Services (“PS Law”) ...
The Race Discrimination Ordinance (RDO) came into force last week on 10 July 2009 following the passage of the Code of Practice on Employment under the RDO (Code) in the Legislative Council on 9 July 2009. Accordingly to reports in the South China Morning Post, one organisation has already said that it has prepared two cases for the Equal Opportunities Commission to tackle under the RDO ...
In Hong Kong, some companies located in comparatively less accessible areas provide shuttle bus services for employees to travel to and from the workplace. This, of course, raises issues of liability and entitlement. More specifically, in the unfortunate event of a member of staff being injured while travelling on the company shuttle, he or she is entitled to make a claim under the Employees' Compensation Ordinance (ECO) ...
On July 17, 2008, the Supreme Court of Canada rendered a unanimous judgment setting aside the ruling by the Quebec Court of Appeal and affirming that the employer had fulfilled its duty to accommodate in the case of Hydro-Québec v. Syndicat des employé-e-s de techniques professionnelles et de bureau d’Hydro-Québec, section locale 2000 (SCFP-FTQ). In this judgment, the Court essentially dealt with two aspects ...
The Letter of Intent: Beyond the Words, the Intent and Conduct of the PartiesModifying a Trust Deed: It Is Not So Simple!Maximizing the Use of Post-merger Losses THE LETTER OF INTENT: BEYOND THE WORDS, THE INTENT AND CONDUCT OF THE PARTIESPatrice [email protected] letter of intent often constitutes the first document that the parties sign in view of entering into a Business transaction ...
The decision in KERRY - August 7, 2009 (1) In this decision, the Supreme Court of Canada has confirmed, inter alia, that the company: May oblige the pension fund to pay the Plan expenses, that is the expenses associated with the employment of actuaries, accountants, counsel and other service providers required for the administration of the Plan; May combine the defined benefit (“DB”) and the defined c
According to The Federal law as of July 24, 2009 N 212-FZ “On Insurance Contributions to the Pension Fund of the Russian Federation, Social Security Fund of the Russian Federation, Federal Medical Insurance Fund of the Russian Federation and Territorial Medical Insurance Funds” that has been passed by the State Duma, the Unified social tax (UST) shall be replaced from the year 2010 with insurance contributions to particular types of social security to be paid to four separate non-budge
Currently, employers can lawfully require employees to retire at 65 (the so-called default retirement age) as long as they follow the correct procedure. This has come under increasing criticism, and is currently the subject of a legal challenge by the charity Heyday (part of Age Concern). Whatever the outcome of the Heyday challenge, the Government had previously said it would review the default retirement age in 2011 to see if it was still needed ...
On August 7, 2009, the Supreme Court of Canada released its much anticipated decision of Nolan v. Kerry (Canada) Inc., a decision that concerns the ability of a plan sponsor to charge pension plan administrative expenses to the pension fund and the ability of a sponsor to use the actuarial surplus in the defined benefit portion of a pension plan to fund a contribution holiday in respect of the defined contribution portion of the plan ...
Following our tax information regarding “New Tax Forms on Interest and Royalties” and “International Double Taxation in Portugal” of the 9th of March and the 8th of July 2009, respectively, were on July the 20th, released the new forms of models 21, 22, 23 and 24 RFI for implementation of the treaty to avoid the double taxation between Portugal and Spain, hereby attached and that are available at the Portal das Finanças ...
A number of laws and regulations have been promulgated in the past few years to introduce a series of changes to the existing PRC Labour Law, among which the key legislations are the PRC Labour Contract Law effective on 1 January 2008 and its detailed implementing regulations effective on 18 September 2008 ("Laws") ...
In January 2010, the decree-law that enacts the Accounting Standardisation System and repeals the Official Chart of Accounts (POC) will enter into force. This legislation was passed as part of a reform that is intended to be structural in nature and apply horizontally across the national accounting system ...
In two recent cases (Coditel and Stadtreinigung Hamburg), the ECJ dealt with the so-called “in-house exemption” in procurement matters ...
What are the limits on national public procurement law to prevent collusion between tenderers in award procedures? This was the question the ECJ dealt with in its recent Assitur judgment (C-538/07).The facts of the Assitur case were as follows. Three tenderers passed the qualitative selection phase and were admitted to the final procedure ...
