The South African Revenue Service (“SARS”) issued Binding General Ruling No. 48 (“BGR 48”) on 25 July 2018, which provides much needed clarification for residential property developers following the recent cessation of relief under section 18B of the Value-Added Tax Act, 1991 (the “VAT Act”) ...
The recent amendments to the VAT legislation introduced by the Taxation Laws Amendment Act, No 31 of 2013, gives effect to government’s proposal that all foreign businesses supplying e-books, e-music and other digital goods and services in South Africa be required to register as South African value-added tax (“VAT”) vendors ...
The United Arab Emirates (UAE) Federal Tax Authority (FTA) has commenced accepting registrations for Value Added Tax (VAT) through its online portal ...
On 9 July the United Arab Emirates (UAE) Ministry of Finance (MOF) published an update of the Value Added Tax (VAT) FAQ section of its website.Following on the awareness workshops launched by the MOF, such update provides some clarification on substantive and procedural aspects pertaining to the implication and implementation of VAT ...
The UAE has issued substantive law on Value Added Tax (VAT) and Excise Tax. Federal decree law No.8 of 2017 deals with VAT. The imposition of VAT will commence in the UAE from 1 January 2018 at a rate of 5%. The VAT law provides a framework for implementation of VAT in the UAE ...
Several legislative instruments on VAT issues were published in the Official Journal of the European Union on 20 February, amending the rules for determining the place where services are supplied for the purposes of VAT: - the general rule will be reversed and services will now be taxed in the place of consumption as opposed to where the supplier has its establishment ...
We have recently assisted a well known fashion retailer in successfully defending an unlawful deduction from wages claim in relation to furlough payments received by the employee. This is an important decision, not only for our client, but also other employers who have made use of the Coronavirus Job Retention Scheme (“the Scheme”). Background The employee’s contract of employment stated the employee had a contractual entitlement to a minimum of 20 hours per week ...
New regulations are in force that require occupational pension schemes providing defined contribution (DC) benefits to demonstrate value for members or face consolidation. The New Regulations The Occupational Pension Schemes (Administration, Investment, Charges and Governance) (Amendment) Regulations 2021 (the new regulations) came into force on 1 October 2021 ...
The judgment of the Supreme Court of Appeal (“SCA”), which established certain guidelines and principles regarding the claiming of input tax for value added tax (“VAT”) purposes in the Commissioner for South African Revenue Services v De Beers Consolidated Mines Ltd (503/11) (1 June 2012) case may have far-reaching consequences for the private equity and venture capital industry ...
As mentioned in our information bulletin of June 8, on June 7, 2005 the Federal Official Gazette published an “Executive Order to Amend the Value Added Tax Law” which altered the procedure for calculating the crediting of valued added tax by removing operations not taxable ...
We would like to draw your attention to the upcoming valuable updates in Tax legislation. Below we have placed a short overview of the hottest issues already occurred in Russian tax environment and some to be introduced in the nearest future. Respectively, these incentives are proposed either to overcome consequences of the financial crisis, or to realize the next step of the long-term policy of stabilization and modernization of the Russian tax system ...
December 1, 2023 By: Leah Lively California Business and Professional Code sections 16600 to 16607 already invalidate agreements restricting California employees from pursuing any lawful profession, trade, or business, with limited exceptions mainly in the sale of businesses. Starting January 1, 2024, things are going to get more difficult (and potentially costly) for employers ...
As of June 21, 2022, importers of goods from China and other countries that contain China origin inputs of components or raw materials are subject to the enforcement provisions of the Uyghur Forced Labor Prevention Act (UFLPA). As a result, importers should now perform significant due diligence on all tiers of the supply chain of their imports and update their compliance policies and internal controls to address the risks of forced labor in their supply chains ...
September 1, 2022 By: Nora Sheriff, Gwenneth O’Hara, and Lillian Rafii On August 19, 2022, the California investor-owned utilities filed a joint motion for official notice at the California Public Utilities Commission (CPUC), saying that the recently adopted Inflation Reduction Act of 2022 (HR 5376) is “directly relevant” to the CPUC’s open net energy metering (NEM) proceeding. The CPUC is currently contemplating a revision to its NEM tariff (referred to as NEM 2 ...
The United States Trade Representative (USTR) announced a period for public comment on whether Section 301 product exclusions should be reinstated for certain Chinese-origin goods. The product exclusions eligible for potential reinstatement are the relatively small subset of exclusions for which the USTR had both previously granted an exclusion and an extension of the exclusion ...
The U.S.-China trade dispute escalated yet again as the Office of the U.S. Trade Representative (USTR) announced a fourth round of tariffs of 10 percent on an estimated $300 billion of goods imported from China not already subject to Section 301 tariffs. At the same time, the USTR continues to accept List 3 exclusion requests and is working to complete review of List 1 and List 2 exclusion requests. 1. USTR Announces Section 301 Tariffs on $300B of U.S ...
In Ass’n For Molecular Pathology v. Myriad Genetics, Inc., the Supreme Court held that "a naturally occurring DNA segment is a product of nature and not patent eligible merely because it has been isolated, but that cDNA is patent eligible because it is not naturally occurring." 133 S. Ct. 1207 (2013). Further, fragments that are "indistinguishable from natural DNA" are not statutory subject matter. Id., 2119 ...
Under Dutch corporate law it is possible for the Enterprise Section of the Amsterdam Court of Appeal to order an inquiry into the policies and affairs of a company and to interfere with the internal organization of such legal entity in order to settle corporate disputes between shareholders, the management and supervisory boards and the works council. The present article creates an overview of these legal proceedings. 1 ...
Although a trust is a valuable financial, tax and estate planning tool, does it allow one to ?shelter? some assets from the public order rules which apply in the context of family law?What is a trust?A trust is a legal disposition which allows a person to transfer the ownership of one or more of his or her assets to a trust for the trust to administer such assets for the benefit of one or more beneficiaries ...
Background and about Atmanirbhar Bharat The idea of Atmanirbhar Bharat,or self-reliance, was at the heart of the Hon’ble Prime Ministerof India, Shri Narendra Modi’s address to the nation on 12May 2020 when he announced an economic package towards building aAtmanirbhar Bharat, or a self-reliant, resilient India ...
As the U.S. involvement in conflicts around the world continues to draw down, hundreds of thousands of veterans are returning to the civilian work force. In fact, more than 100,000 troops are estimated to return to the workforce in the next three years. Many of these service members were employed in the private sector prior to their military service. The Uniform Services Employment and Reemployment Rights Act (“USERRA”), 38 U.S.C. § 4301 et seq ...
It has been said that, sooner or later, everything old is new again. In the wake of the novel coronavirus pandemic (COVID-19) sweeping the globe in 2020, a heretofore largely overlooked and even less understood nineteenth century legal term has come to the forefront of American jurisprudence: force majeure ...
When employees post on Facebook while at work a conflict of interests arises: while the employee enjoys his leisure activity, the employer expects him to do his work uninterruptedly. In order to decide this conflict in his favour, the employer tends to react with employment law instruments, such as informal warnings, formal cautions and finally termination. German jurisdiction supports him in that ...
On July 17, 2019, the Ohio Supreme Court resolved any doubt regarding the scope of Ohio’s construction statute of repose (R.C. 2305.131) and with it, delivered a clear victory to construction contractors in Ohio. In New Riegel Local School District Board of Education vs. Buehrer Group Architecture and Engineering, Inc., et al ...
