Since the G7 meeting on 5 June when the G7 finance ministers announced a global corporation tax of at least 15%, there has been much written and spoken about the new proposed global minimum tax rate. Janet Yellen, the US Treasury Secretary, called the agreement a “historic day for economic diplomacy” ...
It seems like an eternity ago since the World Health Organisation declared a pandemic on 11 March 2020. Governments around the world have responded to the pandemic in different ways, including various degrees of lockdowns, travel restrictions and fiscal and monetary support for some of the most affected industries. This has led to unprecedented disruptions of the global economy and affected business models of many multinational enterprises (“MNEs”) ...
The government has confirmed its intention to establish eight new Freeports in Solent, East Midlands Airport, Felixstowe & Harwich, Humber, Liverpool City Region, Plymouth & South Devon, Teesside and Thames. In our latest Freeport bitesize briefing, we look at some of the potential commercial contracts and supply chain opportunities for businesses looking to operate in these Freeports. There are generous customs and taxation benefits within Freeport sites ...
Kindly note that Decree No. 221, of the Ministry of the Interior and Public Security, was published today, extending the validity of Supreme Decree No. 102, of 2020, of the Ministry of the Interior and Public Security, which provides for the temporary closure of places authorized for the entry and exit of foreigners, due to public health emergency of international importance given the outbreak of the new Coronavirus (2019-NCOV) , until September 30, 2021 ...
On 20 July and 10 August 2021, the Thai cabinet passed new resolutions granting relief measures to members of the public living in red zones in 29 provinces (including Bangkok) who have been particularly affected by government lockdown measures aimed at containing and reducing cases of COVID-19 infection. These measures notably include providing financial support to employers and employees registered with the Social Security Office (“SSO”) ...
The World Trade Organization (‘WTO’) has always been of the view that Indian export subsidy schemes like Merchandise Exports from India Scheme (‘MEIS’), Export Oriented Units (‘EOUs’), Service Export Incentive Schemes are principally in violation to the Subsidies and Countervailing Measures Agreement (‘SCM Agreement’) ...
1. May the Bureau of Internal Revenue issue assessments against a taxpayer based on third-party information? Yes, provided that such third-party information is verified or confirmed with the relevant customers or suppliers. In Commissioner of Internal Revenue v. Mercury Group of Companies, Inc. (CTA EB No. 2215 (CTA Case No ...
Last night, only days ahead of a general election the minority Government in Norway is likely not to win, a proposal for dramatic changes to the upstream petroleum tax regime. It was announced at 18.00 hours Oslo time in a hastily called press conference by the Minister of Finance Mr Sanner (Conservative) and the Minister of Petroleum and Energy Ms Bru (Conservative) ...
[!<CDATA[ With the United States’ recent withdrawal from Afghanistan, it is only a matter of time before the government begins terminating certain federal contracts for the convenience of the government. Accordingly, government contractors need to know their rights and obligations so that they can be best positioned if one or more of their contracts are terminated. This article provides a user-friendly guide for government contractors on these important rights and obligations ...
[!<CDATA[ Effective September 1, 2021: HB 1578 closes the loophole of the previous version of Chapter 38 of the Texas Civil Practice & Remedies Code so that parties will be able to recover attorneys’ fees from LLCs, LLPs, LPs, or other organizations in lawsuits for breach of contract. Generally, Texas law provides that each party to a lawsuit is responsible for her attorneys’ fees ...
[!<CDATA[ This term the Supreme Court is set to resolve a circuit split over the extent of a federal district court’s power to order a person “who resides in or is found” in its district “to give testimony or statement or to produce a document or other thing for use in a proceeding in a foreign or international tribunal” pursuant to 28 U.S.C Section 1782(a) ...
The Taliban takeover of Afghanistan has set the country's women's rights back 20 years. This is why we should care. “All I could see around me were the fearful and scared faces of women and ugly faces of men who hate women, who do not like women to get educated, work and have freedom. Most devastating to me were the ones who looked happy and made fun of women.” – The Guardian, 15 August 2021 ...
The objectives in brief The Government would like to see the aquaculture industry grow, provided that it can do so in a sustainable manner. Statistics produced by the Directorate of Fisheries show that Norway produced and sold a total of just under 1.5 million tonnes of rainbow trout, trout and Atlantic salmon in 2020 ...
The UK Government has announced that businesses will have a further year to start using the UKCA marking for goods placed on the GB market, extending the deadline to 1 January 2023. What is a UKCA mark? The UKCA (UK Conformity Assessed) marking is the new UK product marking that is used for certain goods that are placed on the GB market and covers most goods which previously required the EU CE marking, known as ‘new approach’ goods ...
May 2021 saw the election of seven ‘Metro Mayors’ outside London, underlining the government’s renewed enthusiasm for devolving powers beyond Westminster as part of its ‘levelling up’ agenda. The powers of each Mayor and Combined Authority vary but a common thread is the use of devolved planning powers to accelerate housing delivery ...
Important new legislative changes impacting federally regulated employers will come into effect in 2021: the Pay Equity Act and a minimum wage requirement. Details on both these measures and how that will affect employers are examined below. Pay Equity Act The federal Pay Equity Act comes into effect on August 31, 2021. The Act applies to federally regulated employers who have 10 or more employees ...
On 20 August 2021, the Personal Information Protection Law of the People’s Republic of China (“PIPL”) was passed by the Standing Committee of the National People’s Congress, and will become effective on 1 November 2021. Comprising 8 chapters and 74 articles, PIPL lays down a clearer yet stricter regulatory framework for the protection of personal information ...
Key Points Ninth Circuit reaffirms the “significant nexus” test for determining whether filling certain wetlands in 2007 violates the Clean Water Act The narrower test for determining the Clean Water Act’s jurisdiction under the 2020 Navigable Waters Protection Rule did not apply since it postdated the 2007 filling of the wetlands ...
Despite the cannabis industry’s explosive growth, many financial institutions have been hesitant to transact with cannabis-related businesses given the ambiguity created by divergent state and federal cannabis laws. The SAFE Banking Act seeks to remove these ambiguities at the federal level and pave the way for more financial institutions to serve the cannabis industry ...
Health and safety issues in the agricultural and rural sector are a matter of considerable concern. The Health and Safety Executive (HSE) is urging farmers to make safety a priority to reduce the number of injuries and fatalities in the sector. This recent campaign was prompted by four fatalities over a fortnight, coming only weeks after Farm Safety Week ...
On August 20, 2021, the Personal Information Protection Law of the People’s Republic of China (the “PIPL”) was officially promulgated, which will come into effect on November 1, 2021. The PIPL will become the first systematic and comprehensive law in China that focuses on the protection of personal information ...
Arbitration Rules 2021The Asian International Arbitration Centre (“AIAC”) launched its latest edition of the AIAC Arbitration Rules (“AIAC Rules”) on 1 August 2021. The AIAC Arbitration Rules 2021 (“2021 Rules”) streamline proceedings and embrace the needs of a fast evolving disputes climate ...
We have recently assisted a well known fashion retailer in successfully defending an unlawful deduction from wages claim in relation to furlough payments received by the employee. This is an important decision, not only for our client, but also other employers who have made use of the Coronavirus Job Retention Scheme (“the Scheme”). Background The employee’s contract of employment stated the employee had a contractual entitlement to a minimum of 20 hours per week ...
