On 05 October 2021, the Bangko Sentral ng Pilipinas (“BSP”) issued Circular Letter (“CL”) No. 2021-72, disseminating to all BSP-Supervised Financial Institutions (“BSFIs”) the AMLC Regulatory Issuance (“ARI”) No. 6-2021 on the final extension of the deadline for compliance with the Guidelines on Digitalization of Customer Records (“DIGICUR”). ARI No ...
Dear valued clients, colleagues and friends, We are pleased to bring you the September 2021 issue of our quarterly Newsletter, we hope that you will continue to find its contents of value to you. In this issue’s Front Page Focus, Caitlin Tan Hui Yi, associate from our Dispute Resolution Practice Group, discusses the disqualification of solicitors in the Court of Appeal case of Dato’ Azizan bin Abdul Rahman v Pinerains Sdn Bhd ...
Cambodia’s long-awaited Competition Law (“Law”) was signed into law by the King on 5 October 2021. While the Law has been enacted, the principal regulator, the Cambodia Competition Commission (“CCC”) has not yet been appointed and it is not clear how the Law will be enforced prior to a) such appointment and b) the issue of required regulatory instruments and decisions ...
In the Matter of the X Trusts [2021] SC (Bda) 72 Civ (7 September 2021) Assistant Justice Dr Ian R.C. Kawaley of the Supreme Court of Bermuda has handed down significant guidance to assist in the understanding of this important relationship in offshore trusts ...
October 12, 2021 By: Artin Betpera Calls to reassigned numbers have presented an endless source of legal risk for any company that calls or texts consumers for informational or marketing purposes. Reassigned number class actions brought under the Telephone Consumer Protection Act have resulted in eight-figure settlements, and present unique challenges when defending ...
The United States Trade Representative (USTR) announced a period for public comment on whether Section 301 product exclusions should be reinstated for certain Chinese-origin goods. The product exclusions eligible for potential reinstatement are the relatively small subset of exclusions for which the USTR had both previously granted an exclusion and an extension of the exclusion ...
Companies that have imports from China subject to List 3 and List 4a Section 301 tariffs may still have an opportunity to protect their right to seek a refund from the U.S. Government. To do so, a company would need to file a lawsuit in the Court of International Trade (CIT) challenging the List 3 and/or List 4a tariffs as unauthorized under the Trade Act of 1974 and implemented in violation of the Administrative Procedure Act ...
On September 17, 2021, the Stock Exchange of Hong Kong Limited (“HKEX”) published a consultation paper (the “Consultation Paper”) to publicly seek market opinions on draft amendments to the Rules Governing the Listing of Securities on the Exchange (the “Listing Rules”). The amendments aim to promote and implement a listing regime for special purpose acquisition companies (“SPACs”) in Hong Kong ...
October 2021 Ordinances n°2021-1192 and 2021-1193 of September 15, 2021, respectively reforming security law and amending Book VI of the French Commercial Code, implement mandates of the PACTE Law of May 22, 2019[1] to: modernize security law[2], improve the articulation of security law with collective proceedings law[3] and transpose the (EU) Directive 2019/1023 of June 20, 2019[4], known as the "Restructuring and Insolvency Directive"[5] ...
Advance payment can be understood as: “… the payment made before the occurrence of the generating event that constitutes the future and uncertain event on which the legal force of the obligation depends” (Giulani Fonrouge and Susana Navarrine in “Procedimiento Tributario”, Editorial de Palma, page 159) ...
Although Oregon’s 2021 legislative session turned out to be relatively quiet from a tax perspective, we did experience some changes to Oregon’s Corporate Activity Tax (“CAT”). Those changes were primarily in the form of SB 164. The enactment of SB 164 ushers in the following CAT changes. Fiscal Year Filings ...
Although Oregon’s 2021 legislative session turned out to be relatively quiet from a tax perspective, we did experience some changes to Oregon’s Corporate Activity Tax (“CAT”). Those changes were primarily in the form of SB 164. The enactment of SB 164 ushers in the following CAT changes. Fiscal Year Filings ...
In fact, the impact of the pandemic on private clients has been the opposite: many have experienced increases in their personal wealth that have been nothing short of startling. According to the Global Wealth Report published by Credit Suisse in June 2021, more than five million people became millionaires across the world in 2020 despite economic damage from the Covid-19 pandemic ...
Although Oregon’s 2021 legislative session turned out to be relatively quiet from a tax perspective, we did experience some changes to Oregon’s Corporate Activity Tax (“CAT”). Those changes were primarily in the form of SB 164. The enactment of SB 164 ushers in the following CAT changes. Fiscal Year Filings ...
Following our recent update on the due date of 30 September 2021 for the declaration and payment of the 2021 Immovable Property Tax (“TOIP“) and Unused Land Tax we would like to inform our readers that on the 28th of September 2021 the General Department of Taxation (“GDT“) issued Notification 16160 which has provided an extension on the deadline of the declaration and payment tax of TOIP for 2021 until 31 October 2021 ...
In principle, the author of a work protected by copyright has an exclusive right to reproduce or copy it. In Austria, however, anyone has the right to make copies of such works for private use. Originally, the legislator had scenarios in mind where people recorded music from the radio with their stereo system and a blank tape cassette, or recorded films via a video recorder. Collecting societies collect a levy as compensation for this private copying right ...
As we enter the final quarter of 2021, there are many things still to do and plan for before the end of the year. There are also some timing considerations given proposed legislative changes and the lead time needed to accomplish some of these items. You should be reviewing your year-end estate planning or business transition concerns NOW ...
This week the government has published the draft legislation for the residential property developer tax (“RPDT”) for technical consultation. RPDT is a new tax, intended to be imposed on companies carrying out residential property development from 1 April 2022, and described by the government as being introduced “to ensure that the largest developers make a fair contribution to help fund the government’s cladding remediation costs” ...
Law360 published an article this week by Dinsmore health care attorney LaTawnda Moore about an ongoing scheme made possible by the increasing prevalence of telehealth during the COVID-19 pandemic. This scheme is putting telehealth executives and health care providers at risk of criminal and civil liability. An excerpt is below. The telehealth executives pay health care providers for prescriptions ...
Background On 15 July 2021 the States of Deliberation (Guernsey's parliament) approved the Income Tax (Guernsey) (Amendment) Ordinance, 2021 (the "Ordinance") which makes a number of important amendments to Guernsey's Income Tax Law ...
A key concern for shipowners and lenders will be where to register these new vessels. In this briefing, we consider three factors that usually influence the choice of flag state: (1) financing considerations, (2) recognition for the flag and (3) speed, responsiveness and certainty. Introduction Choosing the flag state where a ship will be registered requires balancing different factors ...
We would like to take this opportunity to remind our readers that the immovable property tax (“TOIP”) and Unused Land Tax deadlines for 2021 are fast approaching next Thursday (the 30th) of September 2021. The 2021 TOIP and Unused Land Tax payment can be submitted at any tax branch or any branches of the following banks: Canadia, ACLEDA, Vattanac, Cambodia Public Bank or ABA Bank ...
Key Points Assembly Bill (AB) 361 allows an agency to use teleconferencing for public meetings without requiring the teleconference location to be accessible to the public or a quorum of the members of the legislative body of the agency to participate from locations within the boundaries of the agency's jurisdiction during proclaimed state of emergencies ...
On Sept. 13, 2021, the House Committee on Ways and Means released the remainder of its numerous tax reform proposals. The proposals will be subject to continued negotiations and are not law. But, the proposals are an indication of what may be coming soon ...