Members of the Zimbabwe ruling party’s decision making body told Bloomberg in April 2014 that Zimbabwe is considering the reintroduction of the Zimbabwe dollar as it struggles to meet its monthly wage bill. In May Zimbabwe’s Treasury postponed the pay dates for its 230 000 public workers the second time in two consecutive months, after having awarded civil servants a 23% increase in April to honour a 2013 election promise made by President Robert Mugabe and the Zanu PF ...
The Value Added Tax (VAT) Law (5735-1976) sets out that zero-rate VAT applies to the export of services to a foreign resident. However, recent judgments have interpreted such relief in a narrow manner and have significantly reduced the ability to charge zero-rate VAT on services rendered to foreign residents. General overview VAT is levied in Israel pursuant to the VAT Law with respect to the consumption of goods and services in Israel ...
With the use of zero-hours contracts 'ZHCs' increasing and new regulations in this area coming into effect, employers should ensure compliance with the new rules. Background Since our previous article, the Exclusivity Terms in Zero Hours Contracts (Redress) Regulations 2015 (the 'Regulations') came into force on 11 January 2016 ...
Today (1 March 2023) is Zero Discrimination Day. The aim of the day is to promote equality and end all forms of discrimination. The day should serve as a reminder to employers on how they can identify, prevent and tackle discrimination. It is true that change within an organisation starts from the top and employers should be keen to build a culture of trust where employees feel comfortable raising concerns ...
In a surprise announcement on 21 March 2014, the Zambian government with immediate effect abolished exchange control regulations introduced in 2012 and 2013 in an attempt to halt the rapid devaluation of the Kwacha. When the Movement for Multiparty Democracy (MMD) came to power in Zambia in 1991, the new government’s priorities were the restoration of economic future growth and employment through liberalising the economy and allowing market forces a greater role ...
On January 20, 2017, in a case of first impression among the appellate courts, a panel of the Ninth Circuit concluded in Syed v. M-I, LLC (Case No. 14-17186) that an employer violates the Fair Credit Reporting Act (FCRA) when its background check disclosure/authorization document includes a sentence that releases the employer, the consumer reporting agency (the vendor), and their agents from liability for any violations of the FCRA ...
Non-compete clauses in employment agreements have been the source of much controversy over the years. Employers want them to protect their human capital and to prevent competitors from stealing their valued employees. Employees dislike them because they prevent mobility of employment. There are good arguments on both sides. Recently, there have been developments that seem to erode the enforceability of non-competes ...
Before 2019 comes to a close, it may be worthwhile to review the state of your tax, estate, and charitable giving plans. Along with the typical end-of-year considerations, it is important to remain aware of the effects of the 2017 tax act (informally called the “Tax Cuts and Jobs Act of 2017,” and herein the “2017 Tax Act”) that altered many longstanding rules and assumptions ...
Following is a list of year-end administrative issues for Texas limited partnerships and limited liability companies (“LP/LLC”): Ensure that the LP/LLC’s activities, transactions, capital infusions (capital contributions or loan proceeds), and distributions are accurately reflected in the entity’s records; Avoid causing the LP/LLC to make any distributions not in compliance with the terms of its LP/LLC agreement or applicable law; for example, an LP/LLC should not make disproportion
Application of the exemption method conditional on fulfillment of requirements with regards to ownership fraction and period The Norwegian rules regarding participation exemption have in general entailed that companies tax resident in Norway investing in companies tax resident in the UK have benefited from participation exemption rules with regards to dividends and capital gains on such shares, and the same has been the case for UK companies investing in Norwegian companies ...
The transaction pace and volume of 2021 was the silver lining of the Covid-19 overcast, keeping our clients and us busy and productive. Particularly the container ship market has been steaming hot, with rapidly increasing prices and high transaction volume. The bulker market has also seen the highest prices for the last decade, with correspondingly high transaction volume ...
We have in 2021 seen a remarkable (continued) recovery in the Norwegian financial market. This is also evident from the perspective of our banking and financing team. We have assisted our clients with a considerable number of new financings and refinancings, across most sectors. It has especially been hectic within the shipping, aviation and renewable energy sectors and we have seen a steep increase within acquisition financing ...
As the end of another tax year approaches, now is a good time to consider your financial position and check whether you have taken full advantage of the tax reliefs and exemptions that are available. This note is intended to provide a brief guide to the opportunities that we believe may be worth considering. There are many tax-saving measures available and we detail below a number of steps that can be taken to improve your tax position, without significant effort ...
As the end of 2013 draws near, taxpayers should consider the effect of the new 3.8% surtax on investment income. Beginning January 1, 2013, a 3.8% surtax is placed on certain investment income for individuals, trusts, and estates. The surtax is imposed in addition to all other taxes imposed by the Internal Revenue Code (including the alternative minimum tax). Prior to the end of 2013, individuals, trustees, and executors should consider ways to minimize the 3.8% surtax ...
In the rush to seek relief under force majeure clauses following the devastating impact of the Covid-19 pandemic, it is likely that some claims were made incorrectly, albeit in good faith. Particularly in circumstances where force majeure relief is linked to a purported termination, the party seeking to terminate needs to comply with any contractual requirements and ensure that the event relied upon is capable of being caught by the force majeure clause ...
Dan Sharman and Craig Thomas take a look at the tax treatment of salary sacrifice arrangements. Background HMRC has always had a difficult relationship with salary sacrifice arrangements. On the one hand it acknowledges that such arrangements are a legitimate way of employees and employers reducing their tax liability, whilst on the other hand it has looked for ways in which to reduce the amount of tax leakage occurring from such arrangements ...
[!<CDATA[ Bradley Arant Boult Cummings LLP attorneys Aron C. Beezley and Sarah Osborne examine proposed changes to the Federal Acquisition Regulation and highlight how they affect women-owned small businesses seeking a government contract ...
Key points: Limited duration for post-retirement employment will mean up to 24 consecutive months, with potential extensions up to 48 consecutive months, or longer with CalPERS' approval. The 24-month rule will also apply to time served by active employees appointed to upgraded positions or classifications for purposes of reporting "temporary upgrade pay" to CalPERS ...
Revenue legislation and administration: The Federal Constitution provides that tax shall only be levied by or under authority of federal law. This means the general body of tax law is to be found in tax statutes, supplemented by other legislative instruments such as subsidiary legislation and ministerial orders ...
World Mental Health Day is marked every year on 10 October to raise awareness about mental health issues around the world and to mobilise initiatives to support and protect everyone’s mental health. This year’s theme ‘mental health is a universal human right’ serves as a reminder that good mental health shouldn’t be considered a luxury; it’s a fundamental aspect of our wellbeing ...
On April 30, 2020, WorkSafeBC announced it is moving forward with adding COVID-19 to the list of diseases for which there is a presumption of it being work-related. Employers will now have to rebut the presumption that a worker caught COVID-19 at work to have the claim denied. Addition to the list typically takes between 18-24 months, but WorkSafeBC is hoping to expedite and complete the process in 6 months ...
In its decision of 9 April 2019 (ref. no.: 1 ABR 51/17), the German Federal Labor Court (BAG) took position on the right of the works council to request information from the employer according to Section 80 (2) of the German Works Constitution Act (BetrVG) and clarified what data protection restrictions such a request is subject to ...
Workplace testing has proven to be a crucial piece in the UK government’s jigsaw to get British business back on its feet. But how can businesses implement a workplace testing programme and will the vaccine roll out make a difference? What is a lateral flow test? In March 2021, the government confirmed that almost 50,000 businesses had registered for free and regular lateral flow tests through the government funded workplace testing scheme ...
