Africa Tax in Brief Ethiopia: Treaty and amending protocol with the Netherlands enter into force The Ethiopia-Netherlands Income Tax Treaty, 2012 and the exchange of notes, signed on 10 August 2012, entered into force on 1 September 2016, and the amending protocol to the treaty, signed on 18 August 2014, will enter into force on 30 September 2016. The exchange of notes generally applies from 1 September 2016 ...
ANGOLA: Securities Code Regulations enacted The Securities Code Regulation (Regulation No. 6/16) (the "Regulation") was approved by the Council of Administration of the Capital Market Commission and gazetted on 7 June 2016. The Regulation contains the organisation rules and administrative requirements for open companies and other issuers of securities admitted to trading in regulated markets ...
African Union: Import tax introduced At its 27th summit recently held in Rwanda, the African Union (“AU”) decided to implement an import tax of 0.2% to be charged on all imports of goods (excluding basic necessities) in each member state. It is expected that EUR1-billion will be collected through this tax, making the AU financially autonomous. Morocco, the only African country currently not a member of the AU, is in the process of being reintegrated into the AU ...
BOTSWANA: Protocol to treaty between Botswana and Sweden enters into force The amending protocol to the Botswana/Sweden Income Tax Treaty (1992), which was signed on 20 February 2013, entered into force on 1 December 2015. The protocol generally applies from 1 December 2015 for the provisions on exchange of information and from 1 January 2016 for the remaining provisions ...
ETHIOPIA: Bills amending customs and VAT proclamations endorsed by Council of Ministers On 26 May 2019, the Council of Ministers endorsed a new bill amending Customs Proclamation No. 859/2014, expected to address practical problems and create a conducive business environment. The Council of Ministers also endorsed a bill amending a number of provisions of Value Added Tax Proclamation No. 285/2002 on 18 May 2019 ...
ANGOLA: Introduction of VAT postponed The introduction of value-added tax (“VAT”), scheduled for 1 July 2019, was postponed to October following discussions between the Angolan Government and the Business Technical Group (“GTE”), which advocated implementing VAT only in January 2020 ...
AFRICA: African Continental Free Trade Area Agreement enters into force The Parliament of Zimbabwe and the Ethiopian House of Representatives approved the African Continental Free Trade Area Agreement (“ACFTA”) on 14 March and 21 March 2019, respectively. The Moroccan Council of Government approved the ACFTA on 21 February 2019 ...
Traditionally investors have looked towards developed countries for investment opportunities and, more often than not, investment decisions have been based on the economic development and growth of such countries. However, recently investment strategies have shifted towards emerging markets rather than established markets and for this reason an ever increasing number of investors are turning their attention to the African market ...
On September 30, 2007, on its own motion and without notice, the Alberta Energy and Utilities Board (AEUB) issued a decision voiding its approvals of both the Alberta Electric System Operator’s (AESO) need assessment and general routing selection and AltaLink Management Ltd.’s (AltaLink) subsequent facilities application related to the proposed 500kV transmission reinforcement between Edmonton and Calgary ...
In September, 2007 the AESO removed the 900MW threshold on wind power generation. In response to concerns about the Alberta system’s ability to absorb significant volumes of intermittent resources, in 2006 the AESO had capped wind facility interconnection to the Alberta system at 900MW until such time as appropriate mitigation measures were established to ensure wind power did not jeopardize system reliability ...
AELEX POWER SECTOR GUIDE - % ǼLEX Legal .avada-select-parent .select-arrow{background-color:#ffffff}.select-arrow{background-color:#ffffff} With the country proceeding to fundamentally restructure the industry to secure the supply of reliable, affordable and, ultimately, sustainable energy, the Nigerian government has introduced some new policies to curb some of these fundamental limitations ...
Action: The Bureau of Ocean Energy Management has issued a final rule increasing the limit of liability for damages under the Oil Pollution Act to $133.65 million. BOEM’s Final Rule: On December 12, 2014, the Bureau of Ocean Energy Management (BOEM) issued a final rule that, effective January 12, 2015, will increase from $75 million to $133 ...
Not long after President Trump announced that the U.S. would impose tariffs on steel and aluminum, the Department of Commerce launched an investigation that may lead to additional duties on imported vehicles and automotive parts. Effective, the Department will now examine whether imports of vehicles and auto parts threaten U.S. national security ...
Despite the fact that the fall in oil prices and the health crisis caused by COVID-19 have severely hit the hydrocarbon industry worldwide, the National Hydrocarbon Agency ("ANH") published on April 28, 2020 the Addendum No 11 through which it modified the schedule of the Permanent Area Allocation Process (“PPAA”), thus ratifying the interest of the National Government in this industry ...
One of the few things that is becoming clearer amidst the Brexit fog is that a ‘no-deal’ is no longer a fanciful possibility. The UK Government, in itsWhite Paper on Immigration Reformpublished at the end of last year, claimed the changes it proposed would lead to the most significant changes to immigration control in 45 years. However, that historic change, scheduled for December 2021, may come sooner than anticipated ...
An effective protection of Intellectual Property Rights. Success is the word that better describes the achievements obtained from the negotiations of CAFTA for the protection of intellectual property rights. Without a doubt, the negotiators that acted on behalf of Nicaragua were exceptional representatives of the needs for a better protection of these rights before evident infractions that have been produced and remain without punishment ...
This morning, the West Virginia Department of Environmental Protection (“DEP”) filed a proposed interpretive rule (the “Interpretive Rule”) with the West Virginia Secretary of State’s office implementing, in part, the recent Aboveground Storage Tank Act (the “AST Act”), which was enacted in response to the January 9, 2014 event that contaminated the water supply of approximately 300,000 West Virginia residents across nine counties ...
The Federal Court of Canada recently released its decision in Ahousaht First Nation v. Canada (Fisheries and Oceans)(1). The case considered an application by 14 First Nations represented by the Nuu-chah-nulth Tribal Council (“NTC”) for judicial review of a decision of the Minister of Fisheries and Oceans regarding the implementation of a commercial groundfish pilot plan on the British Columbia coast (the “Pilot Plan”) ...
In our last two articles, we have considered how transport may change over the coming years. This is of course only half the story. Clean energy production is possible within a city and there are many other technologies currently available, or just around the corner, which may revolutionise both the power grid and the quality of inner-city air. Energy generation It goes without saying that renewable energy sources will be critical to our future energy needs ...
On 17 February 2023, the People's Bank of China (PBoC) issued for public comments the Interim Measures for the Administration of Interconnection and Cooperation between the Interest Rate Swap Markets of the Mainland and Hong Kong (Draft for Comments)(the "Draft Swap Connect Measures"). The public comment period is open until 4 March 2023 ...
We have previously commented on the impact environmental concerns are having on those working in the traditional energy sectors. In particular, the focus on renewable energy has left many oil and gas workers nervous about their job security and ability to find alternative work if they are made redundant. Thankfully, it appears those concerns might be unfounded ...
In the latest ruling from the contentious Gloria’s Ranch case (Gloria's Ranch, L.L.C. v. Tauren Exploration, Inc., 2018 La. LEXIS 1694), the Supreme Court of Louisiana reversed the lower courts’ decisions that held Wells Fargo Energy Capital, Inc ...
Contents Introduction of US style LLCs to Jersey Proceeds of Crime Law changes, including AMLSPs HMRC guidance on the registration of JPUTs Update on arranging as an additional limb of investment business Introduction of US style LLCs to Jersey In September 2022 Jersey enacted legislation which permits the formation of US-style limited liability companies or LLCs in Jersey ...
Contents The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 Updates to Natural Capital Fund framework HMRC guidance on the registration of GPUTs Changes to Guernsey’s insolvency regime Consultation on “six directorship” exemption for directors The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the “LCF Law”) came into partial force on 1 January 2023 and will c
