According to recent media reports, Minister of Trade, Tourism and Telecommunications in Serbia's newly formed government, Rasim Ljajic, stated that a free trade agreement between Serbia and the countries of the Eurasian Economic Union (EEU) should be signed come November, while outlining that at this stage, the matter is out of Serbia's hands and fully dependent on the EEU ...
An interesting piece of news in the sphere of tax law has recently been provided by the Court of Justice of the European Union (CJEU) decision that found Portuguese withholding tax rules to be breaching EU law.The case concerns a loan given to Auto Estradas do Litoral SA ("Brisal"), a Portuguese company by the Irish bank – KBC Finance Limited ...
The effect of Brexit on EU nationals living and working in the United Kingdom will undoubtedly be of interest to many employers as things develop over the coming months. The provisions for leaving the EU are outlined in Article 50 of the Treaty on European Union, which states that "Any Member State may decide to withdraw from the Union in accordance with its own constitutional requirements ...
The Israeli Tax Authority (the "ITA") has recently published a draft circular ("Draft Circular") on the tax treatment of holdback payments and reverse vesting mechanism in the context of merger and acquisition transactions. According to the Draft Circular, subject to certain conditions as will detail below, the sale of shares to which holdback payments and reverse vesting mechanisms apply would be subject to a capital gains tax rate of 25% (30% in case of controlling shareholders) ...
Streets named after a country’s heroes and heroines can be a hotly contested and emotive issue, especially in a country such as South Africa, with its colonial and apartheid past. This was illustrated in the recent Constitutional Court case of City of Tshwane Metropolitan Municipality v AfriForum and Another (the “AfriForum case”), which not only dealt with this sensitive topic, but also clarified an important legal issue – whether an interim interdict can be appealed ...
It is common practice for suppliers to deliver the goods that they supply at the premises of their customers on the customer’s request. The suppliers then either deliver the goods themselves or they contract the services of third parties to deliver the goods on their behalf, for which they charge a delivery fee ...
general principles Legal professional privilege applies to communications between a client and legal advisor, where the legal advisor is acting in a professional capacity and is consulted in confidence for the purpose of the client obtaining legal advice (other than advice facilitating crime or fraud), and where legal professional privilege is claimed by that client ...
The case of Wilson v. Atomic Energy of Canada Limited1 came to a close on July 14, 2016, when the Supreme Court of Canada (the ?Supreme Court?) reversed a controversial Federal Court of Appeal decision in which it had been held that a dismissal without cause was not necessarily an ?unjust dismissal? under the Canada Labour Code (?the Code?) ...
In October 2015, the Organisation for Economic Cooperation and Development (“OECD”) published its final reports on the Base Erosion and Profit Shifting (“BEPS”) project, including the final report on BEPS Action 13, Transfer Pricing and Country-by-Country Reporting(“Action 13 Report”) ...
During the last two days, the Labour Court judgment in the matter of Solidarity and Others v The South African Broadcasting Corporation (“SABC”) (case no. J 1343/16, 26 July 2016) has been widely publicised and is well-known to South Africans. The judgment relates to a protest policy recently introduced by the SABC, in terms of which it would no longer broadcast footage of destruction of public property during protests ...
The Taxation Laws Amendment Bill 2016 has been released for public comment. It introduces various interesting amendments to South Africa’s tax law, which include the following: Use of trusts In circumstances where an interest-free loan has been advanced to a trust by a connected person (which includes a beneficiary or a relative of a beneficiary), it is proposed that a market-related rate of interest (currently 8%) is deemed to be paid on that loan ...
One of the key elements addressed in the Draft Reviewed Broad Based Black-Economic Empowerment (“BBBEE”) Charter for the South African Mining and Minerals Industry, 2016 (the “draft reviewed Mining Charter”) is the issue of ownership. The Department of Mineral Resources (“DMR”) seeks to achieve the ownership requirement through broad-based employee share option plans (“ESOPs”), which are likely to have an impact on both mining companies and their employees from a tax perspective ...
On July 5, 2016 the Chilean Congress enacted Law No. 20,931 (“Anti-crime Agenda”), strengthening the prosecution of robbery, burglary, theft and willfully or negligently receiving or possessing stolen goods. The Chilean Criminal Code sanctions any individual who knowingly or negligently possesses, transports, buys, converts or trades goods proceeding from theft, robbery, embezzlement and/or cattle theft. Negligent behavior can also be prosecuted ...
TAXPAYER REGIME A REGIME B METHOD FOR EXERCISING THE OPTION Public Corporations, Closed Corporations and “Sociedad en Comandita por Acciones”. N/A Mandatory regime. N/A Individual Companies and Individual Limited Liability Companies. Applicable provided the owner of the company is: (i)an individual domiciled or resident in Chile; and/or (ii)an individual or entity domiciled or resident abroad (together as “Final Taxpayers) ...
On June 17, 2016, the Superior Court1 affirmed the 2014 decision of the Commission des lésions professionnelles2 ("CLP") in Canadelle, s.e.c. and Commission de la santé et de la sécurité du travail ...
As per Notification No. 039 issued by the Ministry of Economy and Finance (MEF) on 21 July 2016, a working group consisting of representatives from both the General Department of Taxation (GDT) and the Phnom Penh Municipality will begin to collect data from all enterprises in Phnom Penh from August 2016 onwards. Representatives of the working group will physically visit all enterprises in Phnom Penh for the purpose of: 1. Gathering the enterprise’s statistics; 2 ...
In our blog post from July 25, 2016 we highlighted the provincial government’s introduction (effective August 2, 2016) of the new 15% property transfer tax (the “Foreign Entity Tax“) on foreign buyers of residential property in the Greater Vancouver Regional District (“Metro Vancouver“). The Foreign Entity Tax has been introduced by way of an amendment to the Property Transfer Tax Act (British Columbia) (the “Act“) ...
Allied Irish Bank PLC -v- Moloney & anor [2016] IEHC 346 Twomey J, 20 June 2016, concerned an application by Allied Irish Bank (AIB) for summary judgment in the sum of €10.8m. The defendants contested the application claiming that they had a binding oral agreement with AIB, whereby it was agreed that the defendants would sell the properties charged to AIB, and the outstanding loan would be written off. The fact of the borrowings was not disputed ...
Last June 24th, the Supreme Court of Canada (the ?Supreme Court?) rendered judgment in the case of British Columbia (Workers? Compensation Appeal Tribunal) v. Fraser Health Authority1 (?Fraser?). Briefly, this case involved seven laboratory technicians from the same hospital who had breast cancer. Each of them filed a claim for compensation under the Workers Compensation Act (the ?Act?), alleging that their cancer was an occupational disease ...
The July 2016 issue of the Asian Legal Business (ALB) Asia Edition included a regional update article entitled "Single Entry Approach: Mandatory Conciliation and Mediation of Labor Disputes", contributed by SyCipLaw partner Marianne M. Miguel and SyCipLaw Associate Mary Grace L. Javier. The article discussed the Department Order No ...
When the wording of a construction-related guarantee is ambiguous, the intention of the parties involved is key in determining its true nature. This was highlighted in a recent Supreme Court of Appeal (“SCA”) judgment, which found that the best way to determine the parties’ intention was to look at all relevant facts ...
Dear Sir or Madam,We would like to inform you that in October 2016 significant changes in Russian labour legislation will come into force. The changes are as follows:Salary payment terms are specified. Salary shall be paid not later than 15th day of the month following the assessment one. Rate of interest for pay pause has increased. The rate of interest has increased twice: from 1/300 of the key interest rate to 1/150 ...
According to recent news reports, the Bosnian Ambassador in Podgorica, Đorđe Latinović, stated that a labour agreement between BiH and Montenegro on temporal employment is due to be signed soon. The main purpose of this agreement being to regulate the status of seasonal workers in the two countries and reduce the possibility of undeclared work ...
