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 ...
Key points From 8 September 2021 non-resident entities who provide digital goods/services or e-commerce activities to Cambodian consumers and who expect to have sales of USD15k or more before the end of the year, over three consecutive months, have 30 days to register for VAT with the General Department of Taxation (GDT) in Cambodia. From 2022 onward the same non-resident entities, as described above, that expect to have sales of USD62 ...
On 15 September 2021, the SFC issued a press release relating to the Consultation Conclusions (Conclusions) on proposals to amend its anti-money laundering and counter-financing of terrorism (AML/CFT) guidelines, approximately one year after the SFC issued the consultation paper (Consultation) on 18 September last year ...
On 15 September 2021, the People’s Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA) jointly announced that southbound trading of the Bond Connect scheme (Southbound Bond Connect) would be officially launched on 24 September 2021 (the joint announcement is available here) ...
The seminar, which provided a welcome opportunity for insolvency practitioners and advisers to reconnect in person, showed why Jersey and Guernsey remain leading locations for structuring complex financial transactions and for the secured lending market. The following key points were amongst or relate to those discussed at the seminar ...
The National Security and Investment Act 2021 – a law that will introduce a screening process for certain acquisitions and investments. The National Security and Investment Act 2021 will introduce a new mandatory notification regime for transactions that comes into force on 4 January 2022. We take a look at what it will cover ...
On 17 September 2021, The Stock Exchange of Hong Kong Limited (Exchange) published a consultation paper seeking market feedback on proposals to create a listing regime for SPACs in Hong Kong ...
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 ...
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 ...
Commercial real estate professionals live in a world where single-asset entities (SAEs) are ubiquitous. In this respect, the niche market of HUD-affiliated health care facilities follows suit. Skilled nursing or assisted living facility owners seeking HUD-insured financing and the operators overseeing day-to-day functions at those facilities generally need to be SAEs to participate in the HUD programs ...
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 ...
On 8 September 2021 the Ministry of the Economy and Finance (“MEF”) issued Prakas 543 on Tax on Salary (“Prakas 543”) and Prakas 542 on the Rules and Procedures concerning the Implementation of Value Added Tax on E-Commerce Activities (“Prakas 542”) ...
COVID-19 has thrust the world into recession and its rippling effects have given rise to rapid and accelerating changes. Many businesses have moved or expanded into online channels as we collectively begin to embrace and advance headlong into an increasingly digitalized society ...
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 ...
[!<CDATA[ The unprecedented speed of the collapse of the former Afghan central government is a humanitarian tragedy. The magnitude of which is rightfully distracting from the immediate near-term and long-term legal issues that those who supported the coalition efforts in Afghanistan are compelled to address as the immediate human concerns fade from the spotlight. In particular, U.S ...
Royal Court of Jersey (MacRae, Deputy Bailiff, and Jurats Crill and Dulake) The judgment concerned an application by a Trustee of two Jersey law trusts for the blessing of its decision to give effect to an agreement between beneficiaries regarding division of the trust assets. A key aspect of the agreement was the addition of the late settlor’s widow to the beneficial class of one of the trusts in order for her to receive benefit under it ...
Another wave of COVID-19 has spread all over Thailand and is raising understandable concerns and generating uncertainty among the business community. With this series of infographics, we take this opportunity to guide you on the key measures and best practices to help you mitigate the effects of the COVID-19 pandemic on your business. Today, we guide you through the debt restructuring options available in Thailand for local or foreign investors ...
Another wave of COVID-19 has spread all over Thailand and is raising understandable concerns and generating uncertainty among the business community. With this series of infographics, we take this opportunity to guide you on the key measures and best practices to help you mitigate the effects of the COVID-19 pandemic on your business ...
September 2021 has seen the issuance of Circular 009 on the Usage of Khmer Language and Currency in Accounting Records and Financial Statements (“Circular 009”) and Notification No. 355 on Inspection Visits and Implementation of Interim Fines for Violations of Law on Accounting and Audit (“Notification 355”). We set out the salient points in Circular 009 and Notification 355 below for your reference ...
