In recent months, in a unanimous decision authored by Justice Thomas, the Supreme Court issued its much-awaited decision in Sandoz Inc. v. Amgen Inc. et al., No 15-1039, considering two critical questions in the biosimilar approval mechanisms adopted in the Biologics Price Competition and Innovation Act of 2009 (“BPCIA” or “Biosimilars Act”) ...
The Israeli Tax Authority (the "ITA") has recently published a tax circular (the "Circular") on the tax treatment of holdback payments and of the reverse vesting mechanism in the context of merger and acquisition transactions. According to the Circular, subject to certain conditions, that will be detailed below, the sale of shares to which holdback payments and reverse vesting mechanisms apply would be subject to a capital gains tax rate of 25% (30% in case of controlling shareholders) ...
Under Israeli law, the employment of a foreign employee who is not a citizen or resident of Israel is a criminal offense, except if the person requesting to employ the foreign employee received a special permit from the Population and Immigration Authority (the "Authority") pursuant to the Foreign Workers Law, 5751-1991 ...
RMO 8-2017 amends Revenue Memorandum Order No. (“RMO 72-2010”) by providing for new procedures in claiming preferential tax treaty benefits on dividend, interest, and royalty income of nonresidents, following a system of self-assessment and automatic withholding of taxes subject to post-reporting validation. In lieu of obtaining a tax treaty relief application (“TTRA”) ruling under RMO 72-2010 ...
After several delays, the Department of Labor’s (the “DOL’s”) final “fiduciary” rule expanding the definition of who is an investment advice fiduciary became effective on June 9, 2017 ...
Long-term care (LTC) facilities received a boost last week when the Centers for Medicare and Medicaid Services (CMS) reversed its position regarding the use of arbitration agreements in this setting. On June 8, 2017, CMS published a proposed rule amending LTC facilities’ conditions of participation in the Medicare and Medicaid programs to remove prohibitions on binding pre-dispute arbitration agreements ...
As expected, Luxembourg has adopted a restrictive approach of the provisions provided for under the MLI and has sought to limit the scope and impacts of this new layer of international legislation to the minimum standards required. However, the new PPT and the impact on structures and the application of tax treaties need to be carefully monitored in the furture for new and existing structures ...
The 2017 regular session of the West Virginia Legislature saw several changes in laws relevant to employers. Changes of interest to employers include the West Virginia Safer Workplace Act, Second Chance for Employment Act, West Virginia Workplace Freedom Act, West Virginia Medical Cannabis Act, striking employees and unemployment benefits, Physicians Freedom of Practice Act, and bonds for wages and benefits ...
“It is a treasured value in humanity … that no parent would want her child to grow up thinking that she (the child was) a mistake." - Justice Choo Han Teck In 2010, a Chinese woman, trying to conceive a child with her Caucasian husband, underwent an in vitro fertilisation (“IVF”) procedure at a clinic. Like the previous time she bore a child through IVF at that clinic in 2006, no third party’s gametes were meant to be used ...
Dear Ladies and Gentlemen, We would like to inform you that the Ministry of Finance of the Russian Federation issued a clarification dated March 02, 2017 regarding taxation on the division of matrimonial property after the divorce of the spouses ...
The Davis Tax Committee (“DTC”) issued a media statement on 25 April 2017, calling for written submissions on the introduction of a possible wealth tax in South Africa. This proposal comes two months after an increase in the top income tax bracket for individuals by 4% to 45%, resulting in an effective capital gains tax (“CGT”) rate for individuals of 18%. This should be seen on the back of the increase the CGT rate by nearly 5% from 13 ...
BENIN: Public Procurement Holders to Benefit from a Tax Regime Derogating from Indirect Taxation The 2017 budget law introduced a derogatory tax regime from which certain public procurement holders may benefit by the Benin tax authorities, assuming indirect taxation. This includes customs duties, internal taxes on turnover (mainly value-added tax ("VAT")) on prices and values of goods and supplies acquired or incorporated into the realisation of the contract ...
In terms of paragraph 19(1)(b) of the Fourth Schedule to the Income Tax Act, 5, 1962 (the "Fourth Schedule"), every company that is a provisional taxpayer shall, during every period within which provisional tax is or may be payable by it as provided in terms of the Fourth Schedule, submit to the Commissioner of the South African Revenue Service ("SARS", a return of an estimate of the total taxable income which will be derived by the company in respect of the year of assessment i
On the morning of 26 April 2017, the usual rumble of South African Airways (“SAA”) flights taking to the skies was interrupted by a strike by cabin crew employees, organised by their trade union, the South African Cabin Crew Association (“SACCA”). Due to strict civil aviation regulations, the strike resulted in a significant number of flights being cancelled, which, in turn, caused massive inconvenience for passengers ...
A recent South African Commission for Conciliation, Mediation and Arbitration (“CCMA”) ruling has provided clarity on issues of deemed employment in circumstances where multiple contractors are used. The matter before the CCMA involved Shoprite, one of the largest food retailers in Africa. In order to provide its approximately 2,000 stores with stock in an efficient manner, Shoprite established seven distribution centres (“DCs”) in South Africa ...
The Labour Appeal Court ("LAC") judgment in Liberty Group Limited v MM is a reminder to employers to be vigilant when dealing with allegations of sexual harassment in the workplace and to ensure that managers are equipped to deal with reports of sexual harassment. A failure to do so can be a costly mistake, as the employer in this decision learnt ...
In Mendoza v. Nordstrom, Inc., the California Supreme Court responded to questions posed by the Ninth Circuit concerning the interpretation of California’s day-of-rest statutes, which are found in Labor Code Sections 550-558.1. Initially, former Nordstrom employees filed a Private Attorneys General Act action, alleging that Nordstrom had failed to provide guaranteed days of rest to its nonexempt employees in California ...
The question of the scope of the cost-sharing VAT exemption, also referred to in the Council Directive 2006/112/EC of 28 November 2006 as amended ("EU VAT Directive") as "Independent Groups of Persons" or "IGPs", is currently being debated at the Court of Justice of the EU ("CJEU") in several cases. Last Thursday marked the first milestone regarding this specific VAT exemption since the CJEU released its judgment in the case Commission v Luxembourg (C-274/15) ...
The Gig Economy So you work in the CBD. Here’s your day: You book a Grab car to get to work; as you leave the apartment, the dog walker shows up to take your beagle for a run and a bath. You’re rushing a presentation for a new client and chow down a sandwich at your desk, brought to your office by foodpanda. The client, a tech entrepreneur who's started an online sales portal, calls to ask you to meet at Starbucks because he needs a chai macha latte ...
The Internal Revenue Service ("IRS") has issued an update to Publication 5146 (Employment Tax Returns: Examinations and Appeal Rights) which outlines the procedures used to conduct employment tax examinations and employers' rights and responsibilities during and after the examination process ...
On Wednesday, April 26, 2017, the Supreme Court heard oral argument in Sandoz Inc. v. Amgen Inc. et al., a landmark case that many hope will provide clarity and guidance for consumers and the pharmaceutical industry on the regulatory approval pathway for biosimilar drugs under the Biologics Price Competition and Innovation Act of 2009 (“BPCIA” or “Biosimilars Act”) ...
The current Presidential Administration has not exempted work visas from its immigration initiatives and focus. On April 18, 2017, President Trump signed an Executive Order designed to protect American jobs (“Hire American”) and products and goods manufactured in the United States (“Buy American”) ...
The South African Labour Court was recently called on to answer the question whether a trade union, acting on behalf of its members who are employees of the employer, may compel the employer to take disciplinary steps against certain of its employees in order to ensure the safety of the rest of its employees in the workplace. An employer has the duty to provide employees with safe working conditions, as far as is reasonably practicable ...
South African law treats sexual harassment as a serious form of misconduct that infringes upon a person’s dignity and other fundamental rights. The seriousness with which it is viewed by the courts is illustrated by the Labour Appeal Court (“LAC”) decision in MEC for Education (North West Provincial Government) v Makubalo ...
On June 13, 2016, the then Commissioner of Internal Revenue issued Revenue Memorandum Circular No. 62-2016 purporting to clarify the proper tax treatment of percentage tax or gross receipts tax (GRT) due on transactions covered by Sections 1211 and 1222 of the Tax Code which are shifted through contractual stipulations to borrowers/customers/clients(“passed-on” GRT) ...
