IntroductionGovernment contractors often use teaming agreements to combine the services of two or more contractors to offer the most persuasive bid for a government contract. The prime contractor typically agrees with the other team members that if the prime wins the bid, it will allocate some of the contractual work to the other member(s) ...
Law 55-A/2012 of 29 October – published last year as part of the package of measures to combat the financial crisis – made ownership, use or surface rights of residential urban properties with an official taxable value (valor patrimonial tributário) equal to or greater than EUR 1 million subject to Stamp Duty, calculated at the rate of 1% ...
The various plans and the range of measures included in them that have been described have produced practical results, particularly an increase in the applications for registration of patents, trademarks and protection by copyright, specifically for property such as software. In terms of applications for patents registered in 2011, China came in first place above the USA and Japan ...
The Court of Justice of the European Union recently issued a judgment in Case C-1/12, following a reference for a preliminary ruling submitted by the Lisbon Court of Appeals, in the dispute between the Order of Chartered Accountants (OTOC) and the Portuguese Competition Authority ...
In the clearest sign yet that some buoyancy has returned to the TCI real estate market, the TCI Government has announced changes to TCI’s stamp duty regime ...
CONTENTS Life Insurance Policy: How to Extract Funds from a Corporation with No Tax ImpactConstructive Dismissal Analyzed in the Context of a Business AcquisitionThe Right of Withdrawal, a Controlled Form of Contractual FreedomTransfers of Residences Involving a Spousal Testamentary Trust LIFE INSURANCE POLICY: HOW TO EXTRACT FUNDS FROM A CORPORATION WITH NO TAX IMPACTLuc Pariseau with the collaboration of Martin Bédard, articling studentIndividual shareholders who wish to withdraw
Here are select February 2013 rulings of the Supreme Court of the Philippines on tax law: National Internal Revenue Code; documentary stamp tax; issuance of promissory notes; persons liable for the payment of DST; acceptance ...
Battered women who fear for their safety, mothers unable to support their children, dysfunctional families in need. A reality for many women is the presence of domestic violence in their lives. This situation, although occurring in all social and economic levels, is much more obvious and has more serious consequences in low-income communities ...
The Panamanian Limited Liability Partnership has been a part of Panama’s trade laws since 1916, when the Panamanian Commercial Code was issued. However, during 2009 it was subject to a profound reform in order to adapt it to an always demanding and changing market. As its “younger sister”, the worldwide famous “Sociedad Anonima” (1927), the limited liability partnership shall be filed at the Public Registry ...
The Office of the Civil Registrar General of the National Statistics Office promulgated Administrative Order No. 1 series of 2012 (AO 1) on October 24, 2012. The AO implements the provisions of Republic Act 10172, the amendatory law to Republic Act 9048, and supplements Administrative Order 1 series of 2001, which, in turn, implements RA 9048. Both statutes provide a means of correcting erroneous entries in the civil registry without need of judicial action ...
Traditional knowledge (TK), for example folklore, is a controversial issue and we’ve written about it before. The government feels that TK should be legally protected, and that this should be achieved through amendments to the intellectual property (IP) statutes. The IP community has no issue with TK being protected, but it’s not very comfortable with this being done through IP legislation ...
Gift Tax Return Requirement for 2012 TransactionsDuring 2012, uncertainty about future estate and gift tax exemptions and rates led many of our clients to make substantial gifts during 2012 to their descendants or to trusts for descendants ...
The New Amparo Law-On April 2, 2013, the Amparo Law, Regulatory of Articles 103 and 107 of the Constitution of the United Mexican Estates, was published in the Official Gazette of the Federation. This new law broadens the constitutional defense of rights, since more individuals can have access to the amparo actions ...
On March 22, 2013, the Department of Homeland Security ("DHS") announced that it will submit to the Office of Management and Budget ("OMB") a new Information Collection Request ("ICR") related to the implementation of the Chemical Facility Anti-Terrorism Standards ("CFATS") Personnel Surety Program ("PSP"). DHS is soliciting comments during a 60-day public comment period (which ends May 21, 2013) prior to the submission of the ICR to OMB ...
In 2008 the government introduced important intellectual property (IP) legislation. The Intellectual Property Rights from Publicly Financed Research and Development Act 51 of 2008 - which only came into force on 2 August 2010 – governs the ownership and exploitation of IP which flows from publicly financed research and development (R&D) ...
Contents Part XII.2 Tax Applicable to Trusts: a Potentially Expensive Tax Which Is Often Overlooked Application of the Anti-avoidance Rule in Subsection 83(2.1): Caution Is Required in the Context of the Acquisition of a Private Corporation Revenu Québec to Scrutinize Trusts Directors’ Liability for the Debts of a Corporation Payable to Employees for Services Rendered During the Directors’ Term of Office PART XII ...
In 2008 the government introduced important intellectual property (IP) legislation. The Intellectual Property Rights from Publicly Financed Research and DevelopmentAct 51 of 2008 - which only came into force on 2 August 2010– governs the ownership and exploitation of IP which flows from publicly financed research and development (R&D) ...
The Comelec promulgated Resolution No. 9615 on 15 January 2013. This Resolution implements the provisions of Republic Act No. 9006, more popularly known as the Fair Election Act, for purposes of the 2013 national and local mid-term elections ...
The rules for the application for the tax amnesty program that were published on February 19, 2013 in the Federal Official Gazette provide that taxpayers wishing to benefit from the program must file an application online with the Tax Administration Service (“SAT” for its Spanish acronym) not later than May 31, 2013, through the SAT web page, although the Federal Revenue Law does not provide for an specific date for its application ...
On February 12, 2013, in conjunction with the release of the Executive Order on Improving Critical Infrastructure Cybersecurity (the Executive Order), President Obama signed a Presidential Policy Directive/PPD-21 on Critical Infrastructure Security and Resilience. The PPD revokes the 2003 Homeland Security Presidential Directive-7 (issued by President George W ...
On February 12, 2013, the Obama Administration released an executive order, Improving Critical Infrastructure Cybersecurity (the "Executive Order"), which is focused primarily on government actions to support critical infrastructure owners and operators in protecting their systems and networks from cyber threats ...
During the years of the recent property and development boom in the Turks and Caicos Islands (TCI), stamp duty on the real estate transactions became a substantial contributor to Government coffers. All real estate transactions in TCI are subject to stamp duty at varying rates depending on the size of the transaction and on the island on which the real estate is situate. In most cases, stamp duty is charged at the rate of 9.75% of the consideration passing ...
Acquiring investment property This alert is intended to highlight certain VAT issues relating to the purchase and management of property which is subject to a lease(s). In general VAT should not be chargeable on the sale of such property. Depending on the circumstances this VAT free treatment is based on exemption from VAT and/or “transfer of business” relief applying. VAT free treatment does not apply in all situations but exceptions are few ...
