On 2 November 2015, the South African National Treasury published a Draft Carbon Tax Bill (the “Bill”) for public comment, with the comment period commencing immediately and continuing until 15 December 2015. Measurement, reporting and verification (“MRV”) of emissions data arising from greenhouse gas related activities underpin the effective functioning of the proposed carbon tax ...
Two recent Labour Court decisions have highlighted the duty of trade unions and their officials to act to prevent unprotected strikes and unlawful actions during the course of a strike. These add to the growing list of decisions in which the court has indicated that it will hold unions accountable for unlawful acts by their members ...
LCS has provided a 2015 Taiwan Employment Law Update. 1. Five-Day Workweek to Kick Off Next Year An amendment to the Labor Standards Act (the "LSA") will take effect on January 1, 2016, paving the way for a five-day workweek and for working hours per week to be reduced to 40 hours. The LSA currently sets a ceiling of regular working hours of 84 hours fortnightly. 2 ...
A number of recently announced initiatives could introduce potentially significant changes to the rules governing the workforce in the UAE. Earlier this year, the Ministry of Labour promulgated Ministerial Resolutions Nos. 764, 765 and 766 of 2015. According to the reports of Ministry of Labour spokesmen that appeared in the local press, the new resolutions were designed to deter a number of undesirable practices ...
The Trans-Pacific Partnership, or TPP is a free-trade agreement among the members: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the United States.On Nov. 5, the full text of the TPP trade agreement was released to the public for the first time. While, as reported, an agreement on the TPP was reached Oct. 5, each of the members must still enact it.An important component is the chapter on investments, which protects investors ...
The Parliament of the Republic of Serbia adopted the Law on Conditions for Secondment of Employees Abroad and their Protection (the “Law”). The Law will be applicable two months following its coming into force, i.e. 13 January 2016. The Law regulates the secondment of employees abroad in a more modern manner compared to the currently applicable Law on Protection of Citizens of FR of Yugoslavia working abroad ...
UPDATE: On December 21, 2015, Common Pleas Judge Joseph James struck down the employee sick leave ordinance, ruling that Pittsburgh’s City Council lacked authority to “to enact any ordinance determining any duty, responsibility or requirement of a business or private employer.” The ordinance would have required employers of more than 15 employees to provide up to 40 hours of paid sick leave per year and smaller employers to offer up to 24 hours of paid sick leave ...
A federal appellate court in the Midwest suggests that while unions do not have blanket approval to inspect an employer’s worksite, the union’s interest in safety generally will outweigh an employer’s interest in confidentiality and property rights. The United States Court of Appeals for the Seventh Circuit, in Caterpillar, Inc. v. NLRB, 803 F.3d 360 (7th Cir ...
As a veteran of the United States Marine Corps and someone who has seen the challenges that veterans face firsthand, I can attest to the benefits of giving veterans an opportunity to return to work following periods of service and providing families with the opportunity to manage the needs of their servicemembers. At Spilman, we feel that employers should adhere to best practices guidelines and prepare to implement and facilitate such enforcement ...
In October, the National Labor Relations Board (“NLRB” or “Board”) employed a little-used procedural doctrine to issue a consolidated complaint against a parent company of a chain of hospitals located throughout the U.S. The NLRB issued the consolidated complaint, which included 29 unfair labor practice charges, against Community Health Systems, Inc ...
The Trans-Pacific Partnership (“TPP”) is a free-trade agreement among Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the United States (the “TPP Members”). While, as reported, an agreement on the TPP was reached on October 5, 2015, each of the TPP Members must still enact the TPP. On November 5, 2015, the full text of the TPP trade agreement was released to the public for the first time ...
I. The Liechtenstein Tax ReformThe former Liechtenstein Tax Act dated back to 1961. It was completely revised and the new Tax Act entered into force on 1 January 2011 (hereafter referred to as "Tax Reform"). The ratio for the year 2008 between the overall tax revenues in Liechtenstein and its GDP was 16.9%. In comparison, the equivalent figure in the USA was 20.3% and 23.1% in Germany.Liechtenstein has AAA rating and is totally debt free ...
SyCipLaw Partner Leslie C. Dy participated in the World Bank Group’s Women, Business and the Law 2016: Getting to Equal. The 2016 edition, the fourth in the series, continues to cover and collect data about legal restrictions on women’s entrepreneurship and employment. The series aims to inform policy discussions and promote research on linkages between the law and women’s economic opportunities ...
Corporations that are in need of liquidities can, simply put, not afford to wait until the end of the fiscal year to receive payment of refundable tax credits. For this reason, some lenders offer to advance funds to eligible taxpaying corporations (hereinafter “Taxpayers”) in the form of a loan, while taking security on their future tax credits as collateral (“Advance Tax Credit Financing”) ...
The Government of Indonesia has recently issued a series of regulations in an attempt to further regulate pension securities and amend the old age security programs in Indonesia, namely Government Regulation No. 45 of 2015 on the Management of the Pension Security Program (“GR 45/2015”) and Government Regulation No. 46 of 2015 as amended by Government Regulation No. 60 of 2015 on the Management of the Old Age Security Program (“GR 46/2015”) ...
NEW REQUIREMENTS FOR PRIVATE PLACEMENTS(“Regulation 45-106”) OBLIGATION TO KNOW YOUR INVESTOR WELL Issuer’s obligations: Ask questions Verify the investor’s declared income and assets Confirm the relationship between the investor and the issuer Obtain proof of the investor’s status Keep the documents on file Last May, the Canadian Securities Administrators amended Regulation 45-106 respecting Prospectus Exemptions(“Regulation 45-106”)as we
On September 30, the U.S. House of Representatives passed a Continuing Resolution that will fund the government and extend the Immigrant Investor (EB-5) Pilot Program through December 11, 2015. The short-term extension will allow lawmakers seeking to reform the EB-5 program additional time to refine and advance legislation that would make investing in the program more difficult. To read the full alert, click here ...
What has happened?On 16 September 2015, the Federal Government introduced the Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015. The Bill contains two significant proposals, both of which were signalled in the 2015-16 Federal Budget in May 2015 (see 2015-16 Federal Budget - key tax announcements for business) ...
With effect from 1 April 2015, the business of a hedge fund has been declared to be a collective investment scheme (“CIS”) in terms of section 63 of the Collective Investment Schemes Control Act 45 of 2000 (“CISCA”). Accordingly, hedge funds are now subject to and regulated by certain prescribed provisions of CISCA ...
Amendments to the Labour Relations Act, 66 of 1995 (“LRA”), which came into force in January of this year, introduced important and controversial provisions dealing with temporary employment services (“TES”), commonly known as labour brokers. The most important of these provisions is found in the newly-enacted section 198A. It makes a distinction between what can be regarded as the “acceptable” use of a TES services and the “unacceptable” use of its services ...
On September 9, 2015, the Department of State and U.S. Citizenship and Immigration Services (“USCIS”) announced a transformation of the way the Department of State’s visa bulletin functions. This change will allow many individuals who have been waiting in visa backlogs to file green card applications before an actual green card is available ...
Global mobility is on the rise and many of the employees all over the world especially the young university graduates are keen to working overseas than ever before to strengthen personal growth and career development.The third edition of Global Mobility – An Overview of Human Resource Professionals aims to provide initial guidance to Human Resource professionals and be a ready tool to help them meet the work deliverables of this function which is vital to the organizational success ...
Vol. XIII, Issues 2 & 3 of the Employment & Immigration Update includes the following articles:Ease of Doing BusinessOutplacementTwo-Tiered Wage SystemHighly engaged employeesSocial Safety NetsMore UK firms eye investments in PHThe issue also contains information on recent Supreme Court decisions, labor and employment news, immigration news, additional legal resources, and SyCipLaw updates.Download the Employment & Immigration Update 2015 2-3Q ...
On August 27, 2015, the National Labor Relations Board (“NLRB” or the “Board”) issued its decision in Browning-Ferris Industries of California, Inc., upending decades of well-settled precedent to establish a new, broad standard for determining when two entities are “joint employers” under the National Labor Relations Act. 362 NLRB 186 (2015) ...
Argentina has thwarted debt security holders’ attempts to collect on their bond default judgments stemming from the nation’s 2001 economic collapse and subsequent repayment moratorium.EM Ltd. and NML Capital, Ltd ...
