Over the last few years as tax revenues have decreased and budgets have tightened, states across the country have aggressively pursued out-of-state retailers that may owe sales or use tax. From ticket sellers like StubHub, online retailers like Amazon, and mail-order companies like Scholastic Books, states are asserting that a wide variety of businesses once thought to be exempt have the substantial nexus necessary to require that they collect sales and use tax from their customers ...
On 26 January 2012 and 2 February 2012, the Council of Ministers approved two Agreements with the State of Qatar and the Special Administrative Region of the People’s Republic of China and also two international Conventions to Avoid Double Taxation and Prevent Tax Evasion in the area of Income Tax with Japan and the Republic of Colombia. It should be noted that international double taxation is an obstacle to commercial relations and the free movement of goods, services, people and capital ...
Most of our clients are aware that Congress dramatically increased the individual gift tax exemption from $1,000,000 to $5,120,000 in 2012, and that the exemption is scheduled to revert to $1,000,000 on January 1, 2013 unless Congress takes some action. If this reduction in the gift tax exemption occurs, clients may lose an opportunity to remove a substantial amount of assets from their estates, and, with it, the opportunity to reduce estate taxes payable by their children ...
TAX REFORM The purpose of the current Angolan tax reform is to diversify sources of tax revenue (which up to now has been excessively dependent on oil), to modernise the Angolan tax system with a view to promoting greater tax justice and equity and also to increase the effectiveness and efficiency of the machinery of tax administration ...
In the recent decision of Giza v. Sechelt School Bus Service Ltd., 2012 BCCA 18 (“Giza”), the Court of Appeal for British Columbia (the “Court of Appeal”) held that an employee who quit his job after being given working notice of termination of employment was nevertheless entitled to sue for damages for wrongful dismissal for the period of reasonable notice in excess of the notice given.Mr ...
In just a few years, the Federal Computer Fraud and Abuse Act of 1984 (the “CFAA,” 18 U.S.C. § 1030) - a sweeping statute that criminalizes the unauthorized access of protected computers - has evolved into a broad and powerful weapon in computer-related criminal and civil litigation. Originally enacted to target hackers, the statute now reaches almost any imaginable malfeasance that involves a computer. Two recurring categories of cases arise in an employment context ...
The National Labor Relations Board has had a busy few weeks. First, over the dissent of its sole Republican Member, Brian Hayes, it issued a final rule implementing new procedures for union elections. Second, it issued a decision in D.R. Horton, 357 NLRB No. 184 (January 3, 2012), a much-anticipated case involving class action waivers in collective bargaining agreements. Third, on the heels of the D.R ...
On January 9, 2012, the IRS issued a news release announcing that the IRS is opening a third Offshore Voluntary Disclosure Program for taxpayers who come forward (including taxpayers who have come forward since the 2011 disclosure program closed last September) to report previously undisclosed foreign accounts and assets ...
The Minister of Finance has issued Regulation No. 130/PMK.011/2011 of 2011 on Income Tax Exemptions and Tax Reductions for Business Entities (“MOF 130/2011”) which constitutes an implementing regulation for Article 30 of Government Regulation No. 94 of 2010 on Taxable Income Calculations and Income Tax Payments for a Fiscal Year. This regulation has been in force since 15 August 2011 ...
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DISCIPLINARY MEASURES RELATING TO THE USE OF COMPUTER EQUIPMENT: COCA-COLA IS FORCED TO REINSTATE AN EMPLOYEE THE COMMISSION DES RELATIONS DU TRAVAIL (THE “COMMISSION”) RECENTLY RULED ON THE WAY IN WHICH AN EMPLOYER PROCEEDED TO IMPOSE A DISCIPLINARY MEASURE ON AN EMPLOYEE DUE TO HIS USE OF COMPUTER EQUIPMENT BELONGING TO THE EMPLOYER ...
On December 23, 2011, the National Labor Relations Board (NLRB) announced that it would postpone its requirement that employers post a notice informing employees of their federal labor law rights until April 30, 2012. As discussed in our NLRB Roundup Part 2, this rule requires physical posting of an 11x17 notice, as well as publication on the employer’s intranet or internet site if the employer customarily uses these sites to communicate with employees ...
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 disproportiona
As the end of the year approaches, it is a good time to consider actions that may lower your tax bill this year and possibly next year. High-income earners should consider that top income tax and capital gains tax rates are scheduled to increase after 2012, and Congress could raise taxes during 2012, which could make acceleration of dividends and capital gains to 2011 appealing ...
As promised, Part 2 of our NLRB Roundup 1 takes a step back from the case law summarized in Part 1 to address other issues surrounding the current Board and its effect on the labor law landscape, including: (i) proposed comprehensive rules altering election procedures; (ii) the NLRB’s final rules requiring employers to post notices informing employees of their rights under the NLRA; (iii) developments on the prosecutorial front relating to social media; (iv) reconsiderat
You have an unproductive employee. You suspect she isn’t getting her work done because she’s spending far too much time surfing the web and sending personal emails from her work computer during office hours. This will not do. So, you log on to her computer after hours to check her inbox and browser history. Sure enough, your suspicions are correct: she’s spending more time on Facebook than doing her job. Armed with this evidence, you call her into your office and dismiss her ...
1.- Tax treatment of different acquisitions: What are the differences in tax treatment between an acquisition of stock in a company and the acquisition of business assets and liabilities? The main difference from the acquirer’s perspective is that there is only a step-up in the tax basis on an asset purchase, while a stock acquisition as a general rule does not allow for a step-up on the basis of the target’s assets ...
The Congressional Super Committee (the Joint Select Committee on Deficit Reduction) continues to meet in Washington, D.C., with the goal of reducing the country’s deficit through program cuts and revenue increases. There have been several unsubstantiated rumors regarding proposed changes to the estate and gift tax laws. One online rumor sparked particular interest even though no source was mentioned ...
We all know that the employment relationship can involve some give and take. Employees today are better educated and more aware of their rights, and accordingly more willing to voice concerns about management ...
The IRS has today released proposed amendments to the Code Section 892 regulations. Code Section 892 is the provision within the Internal Revenue Code that exempts foreign sovereigns from taxation in respect of investment income earned in the U.S. The primary amendments are described below. 1 ...
A bill to amend the Workers Compensation Act was given 1st reading on November 3, 2011. One of the proposed amendments could significantly expand the circumstances where a worker may be entitled to compensation for work-related mental stress. Where the present section 5 ...
