Instruction No. 2520 GDT on the Adjustment on the Implementation of Value Added Tax on E-Commerce Transactions (Instruction 2520) was issued by the General Department of Taxation (GDT) on the 24th of January 2023. Instruction 2520 repeals the earlier Instruction 20522 on the Implementation of Value Added Tax on E-Commerce that was issued on the 8th of December 2021 ...
With cybersecurity risks increasing and evolving moving into 2023, the federal government is taking steps to help secure our cyber infrastructure. The recent passing of the 2023 omnibus spending agreement included additional funds for a variety of federal agencies in order to strengthen our cybersecurity apparatus. The Cybersecurity and Infrastructure Agency (“CISA”) received $1.3 billion for its cybersecurity programs. This is a $230 million increase over last year ...
General Trends – EU & international tax > Click here for more details 2022 was another year rich in tax developments in Luxembourg and Europe. In an exceptional economic and geopolitical context, the European institutions continued to launch and implement international tax initiatives ...
On September 16, 2022, the DOLE issuedDepartment Order No. 237, series of 2022, or the Revised Implementing Rules and Regulations of Republic Act No. 11165or the Telecommuting Act (“Revised Telecommuting Rules”). New Definitions The Revised Telecommuting Rules clarified the definition of an “alternative workplace” and a “regular workplace” ...
BigTech has kept information about advertising (who is seeing the adverts, who is clicking on the adverts...) largely in a safe under lock and key. This is about to change and advertising agencies could be a major beneficiary. Advertising agencies likely need to invest in capabilities to analyse huge volumes of data, or engage external advisors to do this work ...
On the 27th of December 2022 the Accounting and Auditing Regulator (“ACAR”) issued a reminder regarding the submission obligations relating to the 2022 financial statements of enterprises in Cambodia. In summary enterprises that are not required to obtain an external independent audit of their 2022 financial statements are required to submit their 2022 financial statements to ACAR by the 15th of April 2023 ...
“What’s in a name? That which we call a rose by any other name would smell just as sweet.” – William Shakespeare What’s in a name? From a Cambodian tax perspective, it would seem quite a lot. On the surface, Instruction 30408 “On the Implementation of Advance Tax on Dividend Distribution,” issued by the General Department of Taxation (GDT) on 14 December 2022 seems quite innocuous ...
Overview If you are thinking about outsourcing manufacturing but have no idea where to start, or if you are already sourcing your product overseas but running into complications, this book, So You Need To OutSource A Product?, will provide some helpful guidelines on navigating the process. You probably already know this, but it bears repeating: Manufacturing outsourcing raises profit margins, improves inventory management, and gets new products to market faster ...
Pensions analysis: On 16 December 2022, the Pensions Regulator (TPR) published its consultation on the new defined benefit (DB) funding code of practice together with a response to its first consultation and a consultation on its proposed twin track regulatory approach to assessing valuations including its proposed Fast Track design. Suzanne Burrell, partner at Shoosmiths examines the consultation and its implications ...
As the stock exchange market in the country develops, in addition to the regular auction trading method, block trades or special crossings (via the NTM) are also permitted, whereby the buyer and seller of listed shares can directly negotiate and agree upon the conditions of their transaction ...
On January 5, 2023 the SEC announced a settled Administrative Proceeding with Randy Robertson. Mr. Robertson previously served as the co-portfolio manager for the BlackRock Multi-Sector Income Trust (“BIT”). While serving as the co-portfolio manager for BIT, Mr. Robertson explored the possibility of a BlackRock investment opportunity regarding a potential secured lending investment relating to print and advertising expenses associated with film distribution. Mr ...
Gone are the days when marketing campaigns are relegated to just hard copy printed materials. They are more often than not found, promoted and run online, and increasingly through social media which offers a speedy and an efficient method of an organisation speaking to its audience. It also offers the audience the opportunity to like, share and comment on the campaign, providing a unique and ‘in the moment’ conversation between a business and its customers ...
The Charity Commission has today (17 January) begun a public consultation on proposed new guidance for charities’ use of social media. It encourages charities to adopt a social media policy which is right for them. Social media presents charities with great opportunities to campaign and comment, to communicate the value they create and to fundraise. But these channels also present serious risks for charities ...
Matters of cross-border company mobility are addressed at European Union level by means of Directive (EU) 2017/1132 (the “2017 Directive”) which provides for cross-border mergers and domestic divisions of public limited liability companies ...
Following the enactment of Sub-Decree No. 196 (“Sub-Decree 196”) on the 28th of September 2022 by the Royal Government of Cambodia (click here ) the Ministry of Economy and Finance (MEF) issued Instruction 017 on the 27th of December 2022 on the Implementation of the new rates of Tax on Salary ...
With the well-known challenges of the last ten months or so, market conditions deteriorated substantially over 2022 and the venture capital (VC) market became a far more challenging one in which to agree a valuation and raise money. While those challenges are not over, from speaking to VC clients and others, there's a cautious optimism that as 2023 progresses the market will slowly improve ...
With little regulation, controlling children's access to online content has been left to parents and carers to manage. But now lawmakers around the world are trying to put responsibility into the hands of websites and internet-based service providers. Recent years have seen concerted action aimed at controlling the collection and use of children’s personal data online ...
On January 11, 2023 the SEC Division of Investment Management issued an additional Marketing Rule FAQ. The newly issued FAQ addresses gross and net performance requirements applicable to private fund case studies, single investments and/or groups of investments, i.e. extracted performance. Specifically, the Question provides as follows: Q. When an adviser displays the gross performance of one investment (e.g ...
This year marks the fifth anniversary of the introduction of the transfer pricing regime in Cambodia. Recent changes in local transfer pricing regulations, tax audit practices, and documentation mean that now – more than ever – you need the right advisor to reduce the tax audit risks associated with related party transactions. DFDL Cambodia’s specialized transfer pricing team combines international experience and deep knowledge of the local legal and tax environment ...
Broad scope of application The FSR targets any undertaking engaged in an economic activity in the internal market that has received a foreign subsidy distorting the internal market. A foreign subsidy is any financial contribution provided by a third country (non-EU Member State) which confers a benefit on an undertaking engaging in an economic activity in the internal market and which is limited to one or more undertakings or industries ...
Most commentators agree that the equity capital markets are not in robust health as we enter 2023. Investors have sustained significant losses in recent months and the combination of war, inflation and recession mean that investor confidence is at a definite low. There are however some signs that the outlook for 2023 may not be as bleak as the headlines might suggest ...
In recent months we have seen a significant rise in industrial action across multiple sectors, including public transport; postal workers; nursing and ambulance staff; university employees; Border Force staff and civil servants. Strikes look set to continue into 2023; the British Medical Association is currently balloting junior doctors on potential strike action for March 2023 and disruption is also likely to hit schools in Scotland as teacher strikes are planned for January 2023 ...
The rules on exit tax on shares and certain other securities mean that private individuals who move from Norway and becomes resident for tax purposes in another country must pay tax for latent profits on shares etc., as if the shares had been sold the day before emigration. Change in law is now in force As the rules have been until 28 November 2022, the exit tax ceased to apply if the shares were not realized five years after emigration ...
