General about enterprise penalty In relation to the previous section on enterprise penalty as enshrined in section 48a of the 1902 Penal Code, discussion were had as to whether there was a requirement of Fault-based liability in the provision. In the preparatory work on section 27 of the new Penal Code, this was discussed in depth, after which it in Ot.prp. no. 27, 90 (2003-2004) s. 242 was clearly stated that the new provision should not have such a requirement ...
In this second instalment of our series 'Navigating the new regulatory landscape for Company Service Providers', we take a closer look at the application process for CSPs seeking regulatory authorisation, the appointment of key office holders and applicable exemptions to the new regime. Part 1 of this series can be accessed here ...
On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second Draw Rules”). These rules announced the implementation of section 311 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “Economic Aid Act”) ...
The government is consulting on a proposal to introduce a new UK-wide tax for residential property developers from 2022, with a view to generating revenue to cover the costs associated with the removal of unsafe cladding. The measure is intended to generate at least £2 billion over the course of a decade, which the government says is a “fair contribution” to the overall cost of the remediation programme ...
The pandemic has, if nothing else, demonstrated how much more needs to be done in the battle against climate change. Despite the worldwide economic slowdown and travel ban resulting from coronavirus, global carbon dioxide emissions reduced by just 6% (approximately 2.3bn tonnes) in 2020. But both governments and industry are responding to the challenge, however, with a renewed sense of urgency and collaborative spirit ...
The Ohio COVID-19 Indoor Air Quality Assistance Program allows eligible private employers to receive reimbursement for eligible inspections, assessments, maintenance, and/or improvements to indoor heating, ventilation, and air conditioning systems to help control the spread of COVID-19. Employers are not eligible for this program if any other federal funding has been supplied for the same purposes ...
The recent anti-suit injunction decision in Axis v Absa Group demonstrates the importance of considering the practical effect of jurisdiction clauses when a suite of contracts or (re)insurance policies are entered into ...
Following the entry into force of the Company Service Providers (Amendment) Act 2020 (the "Amendments") on 16 March, 2021 a number of significant amendments have been introduced to the local regulatory framework governing the provision of company services. The most notable amendments consist of the removal of previous exemptions available to warranted professionals and the end of the de minimis rule ...
As the UK makes progress towards a ‘Green Industrial Revolution’, Shepherd and Wedderburn is committed, through our Green Recovery Strategy and enhanced Sustainability Policy, to working with clients operating in a wide variety of sectors to contribute to a green recovery from the recession caused by the COVID-19 pandemic ...
On 29 April 2021, following the release of the widely commented European Commission Guidance on Art. 22 of the EU Merger Regulation (EUMR), the Luxembourg Competition Council published a statement on the recent policy change ...
The SyCipLaw T.I.P.S. for April covers the following tax issues: 1. What are the requirements to claim tax exemption for the procurement, importation, donation, storage, transportation, deployment, and administration of COVID-19 vaccines? 2. How are the amendments under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act on certain final taxes implemented by the BIR? 3 ...
On June 26, 2021, the Ministry of Economy and Finance – MEF published in the Official Gazette “El Peruano” the Supreme Decree Nº 162-2021-EF (hereinafter, the “Supreme Decree”), whereby it amends the rules contained in the Regulations of the State Procurement Law, adopted by Supreme Decree Nº 344-2018-EF (hereinafter, the “Regulations”) ...
Electric mobility represents a new language and a new dynamic for consumers who yearn for an accessible, extensive, digital, user-friendly charging network. In Portugal and abroad, the electric mobility sector has witnessed significant developments and it has shown itself to be a particularly dynamic market that is enjoying strong growth ...
The Private Investment Law (Law 10/18 of 26 June) was amended by Law 10/21 of 22 April. The new law marks the return of the contractual system to the area of private investment. As a result, the current private investment systems are the following: i) Prior declaration system ii) Special system iii) Contractual system The contractual system is applicable to projects in any sector ...
In the context of the approval of the Tax Package, which is part of the tax reform process started in 2020, on 15 April 2021, the Angolan General Tax Administration (AGT) published Instruction 0033/ GACA/GJ/AGT/2021 (the “Instruction”). The aim of this Instruction is to clarify and standardise the rules for the application in time of the amendments made to the main Tax Codes, in particular, the Industrial Tax Code and the Employment Income Tax Code ...
Did you know? The Measures for the Supervision and Administration of Online Transactions (“Measures”) released by the PRC State Administration for Market Regulation will come into force on 1 May 2021 and will replace the previous rules implemented in 2014. Among other things, the Measures impose more stringent requirements against the common practice of “bundled consent” ...
On April 28, 2021, President Biden addressed a Joint Session of Congress unveiling his proposals to invest in and restructure the American economy. In his address to Congress, President Biden formally announced his American Families Plan (the “AFP”) which combines $1 trillion in spending with $800 billion in tax cuts and credits for low and middle-class families, and targets high-income earners and corporations to fund all of the costs over a 15-year period ...
If the COVID-19 pandemic affected the value of your property, Ohio Senate Bill 57 (S.B. 57) may offer you (or your triple-net lease tenant) a chance to reduce your Ohio real property taxes not available under prior law. Property tax valuation complaints in Ohio counties can be filed only once in each three-year interim period, and property values are determined as of January 1 of the tax year. Because the COVID-19 pandemic in the U.S ...
The Government of Hong Kong gazetted the Inland Revenue (Amendment) (Miscellaneous Provisions) Bill 2021 (the “Bill”) on 19 March which, among other things, seeks to amend the Inland Revenue Ordinance (“IRO”) to expand and clarify the scope of profits tax deductions for foreign taxes ...
Several listed companies recently bought the music rights of world famous stars such as Bob Dylan and Taylor Swift. The payoff of investing in music mainly comes from streams revenues. But the benefits do not seem to be that bad: for instance, since Sony bought Michael Jackson's music portfolio in 2016, its stock price has quadrupled (1) ...
Below is an update on the most relevant employment law measures adopted after the Decree of March 22, 2021, no. 41 (the so-called “Sostegni Decree”) within the framework of the COVID-19 emergency legislation and the on-going vaccination campaign ...
Over the weekend, the Washington State Legislature passed a bill that would enact a tax on gains from the sale or exchange of certain capital assets ...
