Current economic competition legislation has imposed new rules on economic agents that operate in the national market. These rules have changed the nature of the relationships which business may have with competitors, suppliers, distributors, and customers ...
Ukrainian tax authorities are notorious for their practice of failing to return VAT advance payments on time. This problem appears to be of an economic rather than legal nature and persists due to the constant shortage of budget funds, which are most commonly spent for purposes other than proper VAT rebates. Ultimately, the state is unwilling and often unable to refund VAT in the proper way, and so is continuously credited at the expense of local taxpayers ...
The State Administration of Taxation issued the Notice on Several Issues in the Implementation of Tax Agreements and the Individual Income Tax Law on Individuals With No Domicile in China on 23 July 2004. The Notice, which entered into effect on 1 July 2004, clarifies a number of issues related to the levy of PRC individual income tax ("IIT") on expatriate employees ...
1. Overview of recent corporate governance reforms a. Recent initiatives There have been numerous recent changes in Hong Kong in relation to corporate governance matters, extending well beyond legislation and nonbinding codes. The roles of relevant regulators have also been examined and proposed changes made. As far as legislation is concerned, the most significant change is the introduction of the Securities and Futures Ordinance, which came into force on April 1 2003 ...
On October 29, 2004, the Supreme Court of Canada issued its much anticipated decision in the case of Peoples Department Stores (Trustee of) vs. Wise ...
The Standing Committee of the 10th National People's Congress passed the Law of the People's Republic of China on Electronic Signatures on 28 August 2004. The Law, which was promulgated on 28 August by President Hu Jintao, will enter into effect on 1 April 2005 and provides a legal basis for electronic transactions. Electronic data text The Law applies to electronic signatures in electronic data text ...
HOUSTON (Reuters) - Fears that contracts signed with Iraq's interim government could be voided by a new elected leadership have made oil companies wary of entering into deals with the energy-rich country, experts said on Tuesday. "We're seeing some reticence from major oil companies in dealing with the interim government," Lori Feathers, a lawyer with Haynes & Boone, LLP told an energy industry gathering ...
Today, it is easy to find examples where individuals’ assets are threatened due to their professional activities or personal situation. Our governments have also given themselves effective means of tapping into the personal assets of individuals, mainly through the imposition of various directors’ liabilities. Personal liability is also a major concern for anyone who practises a profession where such liability cannot be limited ...
For years now, Canadian residents who own a secondary residence in the United States have been concerned with American estate taxes. This concern comes from the fact that property located in the United States and owned by Canadian residents is subject to American estate taxes upon the owner’s death, taxes which can sometimes reach significant amounts ...
by Igor Shevchenko and Michael Kharenko, Shevchenko Didkovskiy & Partners The need for corporate governance regulation evolved as Ukraine gained its independence and began its transformation to a market economy. Privatisation of state companies has led to their reorganisation into joint stock companies with a diverse ownership base ...
In the commercial scope, the legal representation of limited liability companies is usually exercised by the President of the Board of Directors ...
The Income Tax is one of the most important taxes within the national taxation system because the subjects and activities that are affected by it are very wide. The Income Tax is regulated by the Fiscal Equity Law, which is published in the Daily Official Gazette Num. 82, on May 6, 2003. This Law establishes that the tax base to calculate the annual income is the net rent, which is the gross income obtained by the taxpayer minus the deductions authorized by law ...
It is basic to determine the legal status of enterprises in the business world. This becomes more important in different sceneries: when acquiring an existing corporation, investing in a going concern, granting loans, merger of companies, in joint ventures, etc. The term "Due Diligence" refers to the process of exhaustive search of the legal status of a specific enterprise ...
The Fiscal Equity Law, Law Num. 453, published on May 6, 2003, in the Daily Official Gazette Num. 82, establishes that natural persons, artificial persons or economic units, resident or not in the country, who perceive rent originated in Nicaragua are subject to a definite retention ...
1. Introduction With the further globalization of the world financial infrustructure accompanied by the persisting lack of international coordination in fiscal affairs? increasingly the attention of the major developed countries (in particular, such groupings as G 7 and G 10) is turned to the problems of erosion of national tax bases and international tax evasion/avoidance, as well as the role played in it be so-called tax haven ...
Many employers are turning to arbitration in an effort to avoid the costs and inconvenience of litigation. Before implementing a policy requiring employees to submit disputes to binding arbitration, however, employers should consider the advantages and disadvantages of arbitration, as well as the procedural hurdles that must be overcome before an arbitration policy can be enforced against employees. The Advantages: • Arbitration can be less burdensome to employers ...
On 1 January 2004 Ukraine woke up to the new personal income tax. A development of the previous individual income taxation, this tax is, if anything more sophisticated. Its novelties will have a lasting impact on many of the tax planning strategies involving individuals. Without attempting a comprehensive analysis of the new tax, this article offers an outline of some of its major implications for tax planning. A ...
This Guide is intended to act as a general guide for businesses which are contemplating moving into the United Kingdom.Click on the link below to view the guide ...
Corporate law issues in Ukraine are mainly regulated by the 1991 Enterprises Act, 1991 Companies Act, 1991 Ownership Act, 1991 Securities and Stock Exchange Act, and 1996 State Regulation of the Stock Market in Ukraine Act. As we can see, the majority of Acts laying down the basic concepts and principles of Ukrainian corporate law date back to 1991, when Ukraine gained its independence ...
The globalization of markets, the opening-up of world trade, and technological development have allowed multinational corporations to gain ground, arousing concerns related to the defense of competition. Some nations and regional blocks, such as the U.S.A ...
Considerable publicity and a sense of shock surrounded a judgment of the Competition Appeal Tribunal (CAT) published on 3 December in relation to a proposed merger of two companies involved in the supply of data systems to the NHS. The judgment focuses on how decisions are reached by the bodies responsible for UK merger control and, in particular, the degree of discretion given to the OFT to clear cases without ordering a full four month inquiry ...
Attorneys and other service providers who deal with securities may unwittingly become liable for aiding and abetting violations of the Texas Securities Act. Introduction: A recent decision from the Fort Worth court of appeals should concern anyone who deals with securities transactions, because the burden of proof for imposing liability on a person as an aider and abettor under the Texas Securities Act (“TSA”) just became a little easier ...
I. Introduction The Institute for Intellectual Property and Information Law at the University of Houston Law Center publishes “www.patstats.org,” providing United States patent litigation statistics. Specifically, with respect to the issue of validity, in 2000, the alleged infringer “won” the issue 53% of the time and the patent was held invalid, while the patentee “won” the issue only 47% of the time, and the patent was held valid ...
