Under South African corporate reorganisation rules, tax consequences are deferred and do not crystalise at the time of the transaction, but a carefully planned restructuring transaction may result in hardship due to subsequent events. A recently proposed amendment illustrates this risk.Tax relief under the existing corporate reorganisation rules may be neutralised if assets acquired in terms of these rules are disposed of within 18 months ...
In a previous ENSight, we discussed the decision of the Labour Court in Mtati v KPMG Services (Pty) Ltd. In this case, it was decided that employees may not be disciplined if they have resigned “with immediate effect”. The resignation is regarded as terminating the contract of employment immediately and the consequence is that the employer is denied the opportunity to pursue disciplinary action against the employee. A subsequent dismissal will be null and void ...
Earlier this year, the Ministry of Energy and Mineral resources ("MEMR") issued Press Release No. 00022/04/SJI/2018 to continue arranging dozens of overlapping regulations and permits ("Simplification"). So far, 90 regulations and 96 certifications/recommendation/permits ("Regulations") have started since 22 January 2018 ...
Earlier this year, the Minister of Energy and Mineral Resources (the “MEMR”) issued Regulation Number 10 of 2018 on The Second Amendment to Minister of Energy and Mineral Resources Regulation Number 10 of 2017 on the Principles of Power Purchase Agreements (“MEMR Reg 10/2018”) which came into effect on 13 February 2018 ...
The regulation on the national payment gateway has finally been issued. Bank Indonesia (“BI”), through its regulation No. 19/8/PBI/2017 (“PBI 19/8”) aims to establish national payment system interoperability by implementing switching interconnectivity. The following is a general overview of PBI 19/8 ...
The Autonomous Bus and Minibus Pilot Project 1 (the “Pilot Project”) came into effect in Quebec recently. The project provides guidelines for the regulated driving of the first autonomous vehicles on Quebec’s roads ...
"The global healthcare deal frenzy is set to continue for at least another 18 months as technology giants including Amazon, strategic players and private equity firms step up their fight for limited assets ...
Register your property Online.Registering for an online real property tax account at propertytax.gov.bs is easy, and all that is needed is the property assessment and grid numbers (found on any bill or tax certificate). Once registered, the online account is a convenient way of keeping track of your account. Payment can also be made through the online account, and a tax certificate can be printed directly from the account.Pay the tax by 31st March and enjoy a 10% reduction ...
In order to implement Government Regulation No. 24 of 2018 which introduced an online system for processing and issuing certain business licenses (known as the Online Single Submission “OSS” system), earlier this year, the Investment Coordinating Board (“BKPM”) issued 2 new regulations on investment, ie BKPM Regulation No. 6 of 2018 on the Guidelines and Procedure for Capital Investment Licensing and Facilities (“Regulation 6/2018”) and Regulation No ...
In North Midland Building Ltd v Cyden Homes Ltd, the Court of Appeal held that an express contractual term allowing an employer to levy liquidated damages for periods of concurrent delay took precedence over a common law principle known as the prevention principle. Background Cyden Homes Limited (CH) employed a contractor, North Midland Building Limited (NMB), to design and build a large house in the Midlands, under a JCT Design and Build construction contract ...
Can An Infringer Have Locus Standi As An Aggrieved Party? This case raised a few important and novel issues that dealt with the locus standi of an aggrieved person, Internet searches as evidence for use of a trade mark and the role of a sub-brand as a source identifier when used together with a house brand ...
Legislation and agencies 1 What are the main statutes and regulations relating to employment? The Labor Code of the Philippines (Presidential Decree No. 442, as amended) (the Labor Code) and the Omnibus Rules Implementing the Labor Code ...
Article 35 GDPR requires companies to carry out a so-called data protection impact assessment if based on the nature, scope, context and purposes of the processing, the processing is likely to result in a high risk to the rights and freedoms of natural persons, Art. 35 (1) Sentence 1 GDPR. The company must then document the processing procedure, identify the risks to the rights and freedoms of the natural persons, and explain what remedial measures the company is taking ...
Global Competition Review (GCR) publishedThe European, Middle Eastern and African Antitrust Review 2019. The “Israel Overview” chapter was written by FBC’s Tal Eyal-Boger, Ziv Schwartz and Shani Brown ...
One of the most pressing issues for employers in relation to Brexit is immigration and the rights of EU citizens following the UK’s exit from the EU. Many UK businesses hire EU workers, with some sectors such as agriculture being particularly dependent on seasonal EU workers; still more will employ individuals who have family members who are EU nationals ...
We don’t often discuss Korean trade mark cases, but a recent registry decision is worth a look because it shines a spotlight on a particularly interesting aspect of trade mark law: character merchandising.Kakao Corp is Korea’s largest mobile service provider. One of its offerings is KakaoTalk, a mobile messaging service that’s apparently used by some 154-million people around the globe ...
It’s been widely reported that Roger Federer has signed a 10-year, USD300-million sponsorship deal with the clothing brand UNIQLO. The new deal was announced with some style when Roger walked out on Wimbledon Centre Court in his fancy new threads on the first day of the 2018 championships. The UNIQLO deal is interesting in a number of respects ...
The recent Kenyan High Court judgment in the case of Sony Corporation v Sony Holdings Limited (a decision of Judge Tuiyoyy dated 29 May 2018) has attracted considerable attention. Much of the talk has been around the fact that Sony, arguably one of the best known brands in the world, was denied protection as a well-known trade mark. But there’s more to this judgment than that ...
The #MeToo movement has galvanized many into taking action to fight workplace harassment. Since the movement began in the fall of last year, the Equal Employment Opportunity Commission (EEOC)—tasked with enforcing laws prohibiting sexual harassment—has indicated it has seen an uptick in the amount of traffic to its website ...
The tax act (Pub. L. No. 115-97) introduced a new program designed to encourage investments in low-income communities throughout the country that have been designated as qualified opportunity zones (“Opportunity Zones”). Each state and U.S. territory was allowed to designate up to 25 percent of eligible low-income communities as Opportunity Zones ...
On July 24, 2018, the Securities and Exchange Commission (the “SEC”) voted to propose rule amendments aimed at simplifying certain financial disclosure requirements for guarantors, issuers and pledgors in registered debt offerings ...
Two recent cases and a recently-released Internal Revenue Service (IRS) Program Manager Technical Advice Memorandum have sent shockwaves through the voluntary disclosure community. All three developments give offshore account-holders something to cheer. PMTA 2018-13 In previous client alerts, we have discussed the definition of "willfulness" in the context of offshore assets and, more recently, the closing of the Offshore Voluntary Disclosure Program (OVDP) ...
The European Court of Justice (CJEU) has ruled that Christian Louboutin’s famous red sole does not consist solely of ashape that significantly increases the value of aproduct, and therefore can be registered as atrademark. This is an important victory for the fashion designer in the long-running battle concerning red-soled shoes ...
