Section 103(2) of the Income Tax Act, 58 of 1962 empowers the Commissioner (the “Commissioner”) for the South African Revenue Service (“SARS”) to disallow the setting off of an assessed loss or balance of an assessed loss against the company’s income if the relevant requirements are met ...
Offensive trade marks, which we have written about previously, have again been in the news of late. Two US trade mark cases have dominated the headlines, and one of these has made it all the way to the US Supreme Court. This certainly suggests that Americans feel strongly about the issue of offensive trade marks. As South Africans are likely to have equally strong feelings on the issue of names that might offend particular groups, these US cases are worth discussing ...
This article considers why private trust companies are currently so popular, various structuring issues which those setting up private trust companies should take into consideration, and the private trust companies regulations which came into force in the British Virgin Islands (BVI) in August 2007 and which were amended in 2013. Introduction Private trust companies (PTCs) have become increasingly popular offshore in the last 20–25 years ...
Maxim Alekseyev, ALRUD Senior Partner, and Kira Egorova, ALRUD Of Counsel, prepared an article for Trusts&Estates journal “Family Offices in Russia”. Trust&Estates is one of the most reputable journals for wealth management professionals serving the needs of high-net-worth clients and their families ...
On October 28 – November 1 German Zakharov, ALRUD Of Counsel, participated in 60th UIA Congress in Budapest. German Zakharov participated in the following sessions: "Competition Law" and "Compliance: Challenges and opportunities for the legal profession". The participants of the session were foremost antitrust lawyers ...
The Serbian Minister of Finance issued the Rulebook on the Manner and Procedure of Delivering and the Content of the Tax Administration's Notification on Commencement or Finalization of Tax Audit ("Rulebook"). Under the Rulebook, the Tax Administration ("TA") will start to deliver notifications on initiated tax audits of the legal entities and entrepreneurs to the Business Registers Agency ("BRA"). Notifications will be delivered once a day ...
Recently, the International Organization for Standardization (ISO) adopted a new set of voluntary standards, designated as ISO 37001, to assist organizations in their ongoing fight against bribery. As a result of recent increases in the enforcement of the U.S. Foreign Corrupt Practices Act of 1977 (FCPA) and, notwithstanding the guidance provided by the U.S. Department of Justice’s (DOJ) Resource Guide to the U.S ...
On October 25 Anton Dzhuplin, ALRUD Partner, participated in the Conference organized by the Russian National Committee of the International Chamber of Commerce (ICC Russia) “Independent Guarantee: International Experience and Russian Practice”. Anton moderated one of the sessions ...
The July/August issue of the International Financial Law Review (IFLR) included an international briefing article entitled “Promoting Foreign Investment”. The article was contributed by SyCipLaw partner Carina C. Laforteza and associate Lito Paolo T. Martin II. The article discussed the enactment of Republic Act No. 10881, which was set to make the Philippine sa more attractive destination for foreign investors in the financing industry ...
1. IntroductionSince 2004 the sale by mail-order of prescription-only pharmaceutical products is no longer prohibited in Germany, being the biggest potential market for pharmaceutical products within Europe and thus generally most attractive for pharmacy companies. However, the German pharmacies have been protected during the last decade by a national legislation providing for a fixed–price system for the supply of prescription-only pharmaceutical products ...
IN THIS ARTICLE, CHRISTOPHER TAY HANMIN BRIEFLY REVIEWS SOME OF THE OFFENCES UNDER THEGOODS AND SERVICES TAX ACT 2014("GST ACT").IntroductionOne of the most significant tax Acts to be introduced in the past 30 years is the GST Act which was gazetted on 19 June 2014 and has set 1 April 2015 as the effective date for the imposition of the Goods and Services Tax ("GST") ...
Another day, another failed colour trade mark application. But there may be some lessons to be learned from a recent Australian decision. The quest to monopolise colour goes on, and we have written on this topic on several occasions. In the latest Australian case on colour trade marks, Frucor Beverages Limited, manufacturer of an energy drink called V, applied to register the colour green as a trade mark for its energy drinks ...
A trade mark dispute about the name Iceland highlights the issue of trade marks in relation to geographic names. A dispute has arisen in Europe between Iceland the country and Iceland the brand – Iceland is a large UK-based supermarket chain. The supermarket chain has an EU trade mark registration for the name Iceland, a registration that it struggled long and hard to get, overcoming multiple oppositions along the way ...
It has always been the practice of the Industrial Property Institute (“IPI”) of Mozambique to prohibit the refiling of trade marks that have been finally refused, which has posed a serious obstacle to trade mark applicants who wish to refile their applications in Mozambique for strategic reasons. Refiling provides the applicant with an opportunity to consider the options available to overcome obstacles posed by earlier trade marks, or refusals based on distinctiveness ...
Karanovic & Nikolic is pleased to announce its involvement in advising R&R Ice Cream, a leading ice cream company based in the UK, on Serbian law matters relating to its 50/50 joint venture with Nestlé, the world’s leading nutrition, health and wellness company. The advising team consisted ofSrdjan DabeticandStefan Antonicfrom Karanovic & Nikolic’s Belgrade office ...
By way of -providing guidelines for implementing the Tax Law No.106/2016/QH13 (Law 106) effective from 1 July 2016, the government has issued Decree 100/2016/ND-CP (Decree 100) on 1 July 2016 and the Ministry of Finance has issued Official Letter 10315/BTC-TCT dated 25 July 2016 (OL 10315) and Circular 130/2016/TT-BTC dated 12 August 2016 (Circular 130) ...
The Philippine Competition Commission (PCC) has issued its first merger clearance under the implementing rules and regulations of the Philippine Competition Act. The clearance was for the proposed acquisition by Sanofi of the CHC business of Boehringer Ingelham. SyCipLaw acted as Philippine antitrust counsel to Sanofi. Download the Client Alert for more information on the first merger clearance of PCC under the Philippine Competition Act ...
Karanovic & Nikolic, in cooperation with law firm Goodwin Procter, is pleased to have provided all around legal support and advice to GoDaddy on its acquisition of Devana Techologies’ ManageWP business. ManageWP is a Serbian based start-up service for managing multiple WordPress websites, developed by Devana Technologies; GoDaddy is the world’s largest internet domain registrar ...
According to last week's news reports, the President of the Provincial Government of Vojvodina, Igor Mirovic, met the Ambassador of Bosnia & Herzegovina, Lazar Mirkic, in Belgrade on Thursday, 15 September, for the purpose of discussing Bosnian interest for Vojvodina's food products and the potential cooperation in the area of tourism ...
contingency fees VAT inclusive or exclusive The High Court, Gauteng Local Division, considered in a recent case (case No 2012/21359, 31 August 2016) whether an agreement in terms of which a legal practitioner charged contingency fees to a client under the Contingency Fees Act, No 66 of 1997 (the “CFA”), is valid ...
ENSafrica’s 2016 Anti-Bribery and Corruption Survey Results Overview ENSafrica’s third annual anti-bribery and corruption (“ABC”) survey has revealed that 39% of respondents have experienced incidents of bribery or corruption in the last 24 months. The key question addressed in the survey was whether or not companies are putting proportionate measures in place to deal with the rising risks of bribery and corruption ...
Global Transfer Pricing Risk Management The realities of the business environment in which multinational groups operate today consist of a shrinking domestic market and an ongoing pressure to reduce costs. In addition, multinational groups are also faced with the different expectations of different stakeholders and the increased disclosure requirements of financial data ...
The Davis Tax Committee Issues Its Second Report on Estate Duty The Davis Tax Committee (“DTC”) released its much-anticipated second (and final) interim report (the “Report”) on estate duty on 24 August 2016. The Report has been published with amendments taking into account the public’s comments that were submitted in respect of the first interim report ...
The South African Taxation of Trusts Recent Developments The Davis Tax Committee’s (“DTC”) first interim report was released in July 2015 (the “First Report”) and made various significant recommendations to the Minister of Finance regarding (among other topics) the taxation of trusts in South Africa ...
