In Notice 2021-31, the Internal Revenue Service (IRS) provides broad guidance in a question-and-answer format on the application of the American Rescue Plan Act of 2021 (ARP) regarding premium assistance under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) continuation coverage provisions ...
By: Alexandra Shulman The Oregon Legislature recently passed a new bill (SB 169) that will have a major impact on the use of noncompetition agreements in Oregon. These amendments to Oregon’s existing noncompetition statute, ORS 653.295, will become effective on January 1, 2022, and will apply to all Oregon noncompetition agreements entered into on or after that date. The most significant changes to the statute are described below. Reduced Term ...
Fast becoming the Monaco of the East, Singapore is luring global UHNWIs to set up family offices here due to its wealth-friendly tax and regulatory regime, and its position at the global economic growth epicentre. Sergey Brin (net worth: US$104 billion). Google’s co-founder and the world’s ninth-richest person set up a branch of his single family office (SFO), Bayshore Global Management, in Singapore to manage his local assets late last year ...
When the Protection of Personal Information Act, 2013 (“POPIA”) comes into effect fully from 1 July 2021, there are some areas of possible dispute that could arise between employers and employees, including the monitoring of employee emails. In a recent Constitutional Court judgment in Turkey, the personal data protection rights of an employee were considered, and could provide some guidance as to how a similar situation may be handled in a South African context ...
2021 has continued to see steady activity with respect to acquisitions and re-structuring of businesses in the Cambodian market. There are a number of factors at the forefront of this activity, not least the pending capital gains tax implementation date of 1 January 2022, bargain hunting of distressed assets, and internal re-structuring of multi-national organizations, to name a few ...
Last year, we published a blog about things an employer should do before they terminate the employment of an employee. In recent years, employers are facing increasing claims for aggravated damages arising out of the manner in which the employer has carried out the termination of an employee’s employment. In order to minimize the possibility that aggravated damages will be awarded, here are our Do’s and Don’ts for employment termination meetings ...
Charitable giving is a way for businesses and individuals to save on taxes while supporting the causes that align with their values. At Schwabe, we can help clients to plan charitable gifts and make sure that their charitable giving works holistically with the plan they have created for the distribution of their entire estate. This article will cover common questions associated with charitable giving ...
1. What are the rules on the exclusion of land in the computation of the PhP100 million threshold on total assets in order to qualify for the reduced corporate income tax rate of 20% under the CREATE Law? The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular No. 62-2021 dated April 30, 2021 (RMC No. 62-2021) to clarify certain provisions of Revenue Regulations No. 5-2021 relative to corporate income taxation under Republic Act No ...
POLITICAL AGREEMENT WITH THE EUROPEAN PARLIAMENT ON THE PROPOSED DIRECTIVE ON THE DISCLOSURE OF INCOME TAX INFORMATION BY CERTAIN UNDERTAKINGS AND BRANCHES _____________________________________ On 1 June 2021, the Council of the European Union (the “Council”) reached a political agreement with the European Parliament on the proposed directive on the disclosure of income tax information by certain undertakings and branches, commonly referred to as the public country-by-count
Our latest article in the series looking at the impact of the pandemic on different groups focuses on how COVID-19 has affected those within ethnic minorities, what this has meant for the BLM movement and what employers can do to better support employees. Impact of COVID-19 The latest statistics all point to the fact that the COVID-19 pandemic has disproportionately affected those within ethnic minorities ...
Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There are two questionnaire forms on the Treasury: Form 3509 for for-profit borrowers and Form 3510 for non-profit borrowers ...
The EEOC updated its very clearly titled, “What You Should Know About COVID-19 and the ADA, the Rehabilitation Act, and Other EEO Laws,” last week to provide some much needed guidance on COVID-19 vaccine issues. While the EEOC’s guidance is helpful, not surprisingly, it leaves open some questions. Section K of the guidance addresses vaccines, so the references below are to the specific questions and answers in that section. Employers can mandate vaccines ...
Introduction The Covid-19 vaccine is currently being rolled out, and according to the authorities’ vaccination-plan, a large part of the population will receive their first dose during the summer months. As a rule, one must take the vaccine in one’s own home municipality, and not in the municipality where one has a summer house etc. In addition, the authorities are working on a corona certificate ...
On March 18, 2021, the U.S. House of Representatives passed the Farm Workforce Modernization Act of 2021 (HR 1603) (FWMA).1 The proposed FWMA would streamline the H-2A temporary agricultural worker program, providing a path to legal immigration status for undocumented farmworkers and their family members. The FWMA would also require all agricultural employers to electronically verify the employment eligibility of their workers ...
On May 28, the Treasury Department released the General Explanations of the Administration's Fiscal Year 2022 Revenue Proposals, known as the "Green Book," detailing the Biden administration's proposed changes to the Internal Revenue Code (IRC). For startup founders and early investors, the Green Book provides welcome relief ...
Key Points Employers have the right to mandate vaccines subject to religious and disability-related employee exemptions. Asking if an employee has been vaccinated is not a prohibited medical inquiry. Incentive programs to encourage vaccinations are permissible. Introduction Previously, the Equal Employment Opportunity Commission (EEOC) issued Guidance permitting employers to implement COVID-19 vaccine mandates, subject to certain exemptions ...
Whilst we all live in a much more progressive society than we ever have before, there is still a danger of misgendering someone’s identity. The use of gender pronouns in the workplace can therefore help and is an important part of LGBT+ inclusion. Background The Oxford Dictionary defines a pronoun as ‘a word that is used instead of a noun or noun phrase, for example ‘he, it, hers, me, them, etc.’ ...
New measures for state contracting for economic reactivation. Through Decree 579 of 2021, issued on May 31 by the National Planning Department, certain transitory paragraphs enshrined in Decree 1082 of 2015 or the sole Regulatory Decree of the Administrative Planning Sector, were replaced in matters of state contracting ...
On June 1st, 2021, the Law No. 21,342 (hereinafter, the “Law”) was published in the Official Gazette, establishing protocols for occupational health safety and a mandatory health insurance for safe, gradual return to presential work. The above, in the context of the health alert caused by the Covid-19 disease in Chile ...
The Ministry of Security, through theExecutive Decree No. 199 of May 7th, 2021(hereinafter the “Decree”), adjusts the requirements for obtaining atemporary residence permitand apermanent residence permitas a Forest Investor, as follows: The forest investor residence permit may be requested in the following modalities: (i) temporary residence permit, (ii) permanent residence permit in 2 stages, and (iii) permanent residence permit in 1 stage ...
Financial ServicesBank Negara Malaysia seeks feedback on Alternative Reference Rate and Strategic Direction on KLIBOR and KLIRROn 19 May 2021, Bank Negara Malaysia invited written feedback by 18 June 2021 on its Alternative Reference Rate and Strategic Direction on the Kuala Lumpur Interbank Offered Rate (“KLIBOR”) and the Kuala Lumpur Islamic Reference Rate (“KLIRR”) for the Malaysian Financial Markets discussion paper ...
In the recent case of A1 & ANOR V R2 & ORS [2021] HKCFI 650, the Applicants are pursuing proceedings in the Cayman Islands and other jurisdictions in relation to an alleged fraud committed against a Cayman Islands exempted limited partnership, involving alleged misappropriation of over US$100 million ...
The Government of the Republic of Panama, in response to the new modalities of work worldwide, among these, remote working, considered it appropriate to create this subcategory within the Non-Resident Visas. Executive Decree No. 198 of May 7th, 2021 (hereinafter, the “Decree”), published in the electronic Official Gazette on May 20th, 2021, creates the Short Stay Visa as a Remote Worker. Panama, May 21, 2021 ...
The Ministry of Public Security modifies the requirements to request the residence permit for foreigners from specific countries who maintain friendly professional, economic and investment relationship with the Republic of Panama. Panama, May 24, 2021. The Ministry of Public Security through Executive Decree No ...
