An Important Israeli Court Decision for Dual-Listed Companies: The Liability for Breaches of Reporting Obligations by Dual-Listed Companies Is Governed by the Securities Laws of the Foreign Trading Jurisdiction. In 2017 the Tel Aviv District Court (Economic Division, Judge Kabub) issued a decision in Cohen v. Tower Semiconductor Ltd. et al., C.A ...
IRS Announcement 2017-15 provides relief to employees who have been adversely affected by the recent wildfires in Northern California by allowing them to take loans or distributions from retirement plans to alleviate hardships caused by the wildfires. The Announcement also provides relief from verification procedures required under retirement plans with respect to loans and hardship distributions ...
There are a number of considerations when relocating to another country that involve much more than a mere physical departure and the taking up of permanent residence in a foreign country. In South Africa, an individual will continue to be regarded as a South African resident for exchange control purposes until such time as the South African Reserve Bank (the “SARB”) has provided him/her with formal emigration approval ...
Patterson Belknap Webb & Tyler LLP announced today the publication of its New York Commercial Division Practice Guide. This new publication is part of Bloomberg BNA’s Litigation Practice Portfolio Series, and an excerpt is available to download at: http://on.bna.com/H1KM30gCY7v ...
From ISV Insights In the last 50 years, software has transformed our society. And like with any innovation, companies have been zealous trying to protect their software by seeking patents. Since 2012, the United States Patent and Trademark Office (PTO) has averaged issuing about 300,000 patents a year, and a majority of the issued patents are software related ...
Most of holidays and national mourning that are covered by Article 46 of the Labor Code of the Republic of Panama are in November, December and January. In fact, they are considered as such, November 3, 5, 10 and 28; December 8 and 25; and on January 1 and 9 ...
Section 66 of the South African Public Finance Management Act, 1999 (“PFMA”) places certain restrictions on the powers of national and provincial public entities, government departments and constitutional institutions (“public institutions”) in regard to specified transactions, namely borrowing, the issue of guarantees, indemnities and security, and entering into transactions that bind or may bind that public institution or the revenue fund to any other so-called future f
The UAE Ministry of Finance has announced the Executive Regulation for the Federal Decree-Law No. (8) of 2017 on Value Added Tax (UAE VAT Legislation) at a Cabinet meeting on 7 November 2017, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai. It is expected that the Executive Regulation to UAE VAT Legislation will be released this week in draft form on both the UAE Ministry of Finance’s website (www.mof.gov ...
1. PATENT ENFORCEMENT 1.1 Before what tribunals can a patent be enforced against an infringer? Is there a choice between tribunals and what would influence a claimant’s choice? Patents are enforced against an infringer either through a civil action before the Regional Trial Court (“RTC”) or an administrative action before the Bureau of Legal Affairs (“BLA”) of the Intellectual Property Office of the Philippines (“IPOPHL”) ...
Last month, the UK Financial Conduct Authority (FCA) published its "Regulatory Sandbox – Lessons Learned Report". In the Report, the FCA evaluated the progress of the UK financial regulatory sandbox during its first year of operation and tentatively concluded that the initiative has so far been a success ...
There’s an interesting trade mark dispute under way about UGG. It touches on a range of IP issues – geographical indications, generic terms, country-of-origin brands and Chinese manufacture.Many readers will know that UGG is a sheepskin boot originating from Australia. UGG has apparently been around since the1930s, when it was created to deal with the cold winters in Australia (the Blue Hills region of New South Wales apparently can get cold) ...
The issue of offensive trade marks has been in the news quite a bit of late. Now, the European trade mark authorities have considered whether Brexit, the term used to describe the UK’s departure from the European Union, is a trade mark that might offend. It might seem like an unlikely trade mark, but clearly some people think that Brexit works as an indicator of commercial origin ...
In this article, we look at two recent trade mark opposition decisions. These remind us of the many issues that need to be considered when comparing trade marks. They also highlight the growing importance of Chinese brands.The first involves a case that was before the European Union IP Office (“EUIPO”). In this case, the Taiwanese company Wawei filed an EU trade mark application for Wawei for food and drink in classes 29, 30 and 32 ...
Last week, the House Republicans unveiled their highly anticipated plan for tax reform. Although clients should not rush into planning based on the House plan, it is important to be aware of potential changes in the tax code. In particular, business owners and individual high net worth clients should be prepared for the adverse and beneficial aspects of the proposed plan because the plan is intended to be effective for tax years beginning January 1, 2018 ...
The Tax Cuts and Jobs Act proposed by the House of Representatives last week would eliminate access to tax-exempt financing for 501(c)(3) organizations and for certain private borrowers by eliminating all private activity bonds, whether for new capital expenditures or for refinancing of existing bonds. Additionally, tax credit bonds could no longer be issued ...
Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the Security Exchange Commission’s (Commission’s) 2015 pay ratio rule (Final Rule) required public companies to disclose the annual total compensation of the median employee (excluding the CEO), the annual CEO compensation and the ratio of those amounts ...
Having practised both as a shipping lawyer and an aviation lawyer for many years, I do find the experience and practice with the Cape Town Convention and aviation finance transactions to be interesting when experiencing the challenges faced by the shipping industry with respect to recognition and enforcement of mortgages ...
The Digital Millennium Copyright Act of 1998 (the “DMCA”) provided a safe harbor to shield website owners, ISP’s, and other online service providers from certain claims for copyright infringement based on user generated content. This safe harbor has been very successful ...
On October 19, 2017, the IRS announced in Notice 2017-64 cost of living adjustments to the qualified plan dollar limits for 2018. Some of these limits did not change from 2017 because the increase in the cost of living index did not meet the statutory thresholds that trigger an adjustment. Below is a summary of the limits that are generally relevant for most retirement plans ...
Section 64E(1) of the South African Income Tax Act, 1962 (the “Act”) provides that dividends tax must be levied at a rate of 20% of the amount of any dividend paid by any company, other than a headquarter company. In terms of section 64EA(a) of the Act, the beneficial owner of a cash dividend is liable for dividends tax in respect of that dividend. However, in terms of section 64F(1), a cash dividend is exempt from dividends tax in various instances ...
Attacks by the South African Revenue Service (“SARS”) on the transfer pricing practices of multinational enterprises (“MNEs”) are on the rise, leading to tax disputes with SARS over significant amounts of tax. MNEs operating in South Africa provide information to SARS in various forms such as annual Corporate Income Tax returns, Country-by-Country reports as well as the extensive Transfer Pricing documentation ...
Afridi & Angell has recently successfully assisted two individuals in becoming forgotten. Put another way, we were able to convince the Dubai Financial Services Authority (the DFSA) that the names of the individuals should be removed from public documents available on the DFSA website. These included published regulatory actions (in the form of enforceable undertakings) and DFSA media releases ...
A new item has been added to the extensive catalogue of the firm’s publications. In our Outlook on law and business in Poland we discuss trends in changes in the law, such as increased regulatory pressure and increased penalisation of commerce. These are illuminated by concrete examples from practice and conclusions concerning the consequences of these phenomena that can be expected to occur or are already happening ...
Earlier this year, right in a last minute attempt to win undecided voters for one of the political parties, the leaving members of parliament enacted a new tax law. While fundamental changes to the Austrian Tenancy Law had been vividly discussed between the socialist and the conservative parties in recent years, the new law on the abolition of stamp duty falls completely short of what could have been achieved ...
