On 16 March 2023, in Joined Cases C‑438/21P to C‑440/21P, the Court of Justice of the European Union (CJEU) interpreted the concept of a ‘global marketing authorisation’. It held that Article 6(1) of Directive 2001/83 (the Community Code) sets out exhaustively the line extensions for which the marketing authorisations (MAs) will fall under the same global MA as the initial MA ...
Less than a month to go! Our Tax Team wishes to remind you of the fast-approaching deadline for the submission of your annual corporate tax returns for the financial year ended 31 March 2023 (“FY 2022-2023”). All Myanmar taxpayers (corporate entities, non-profit organizations, and individuals) should file their annual tax returns on or before 30 June 2023 ...
On May 30, 2023, National Labor Relations Board (“NLRB”) General Counsel Jennifer Abruzzo took yet another step to ban restrictive covenants in the employment context. In a memo issued to all regional offices, she set forth her view that nearly all non-compete provisions, with very limited exceptions, violate the National Labor Relations Act (“NLRA”) ...
May 31, 2023 By: Stephanie Shea The California Unruh Act (specifically, California Civil Code § 51) prohibits “all business establishments of every kind whatsoever” from discriminating based on citizenship or immigration status, among other things. That protection applies to all persons within the jurisdiction of California. At the federal level, (simply put,) the federal civil rights statute (specifically, 42 U.S.C. § 1981), prohibits alienage discrimination ...
On 7 April 2023, the Belgian Cour de Cassation reversed its long standing case law and decided that (from now on) disputes concerning the termination of exclusive distribution agreements are eligible to be settled by arbitration. 1. The legal background The Belgian Economic Code (previously known as the 1961 Distributorship Act – the “Act”) provides special protection against the unwarranted termination of an exclusive distribution agreement ...
The Internal Revenue Department (“IRD”) has recently issued an announcement informing newly-registered companies, entities, and individuals to register for tax using the e-Registration Management System (“ERMS”) starting 23 May 2023. Prior to the ERMS, a taxpayer who is applying for a Taxpayer Identification Number (“TIN”) will have to manually submit the relevant documents to the Central Taxpayers Service Unit (“CTSU”) of the IRD ...
May 24, 2023 By: Peter McGaw When Potentially Responsible Parties (PRPs) settle CERCLA cases, they want finality. They don't expect to be asked to pay a second time for a claim they have already resolved by settlement. However, a concurring opinion in a recent Ninth Circuit decision casts doubt on the ability of a PRP to achieve finality through settlement. The Ninth Circuit’s decision in GP Vincent II v Beard was issued on May 17, 2023 ...
On 25 April 2023, the Ministry of Planning and Finance (“MOPF”) issued a new Standard Operating Procedure (“SOP”) outlining the additional tax requirements when remitting foreign currency payments from Myanmar to overseas. This SOP is effective on 1 May 2023 and applies to individuals, companies, and organizations that are transferring foreign currency payments exceeding USD 10,000 (or its equivalent) ...
Overview On the 16th of May 2023, the New Law on Taxation (“New Taxation Law”) was promulgated by Royal Kram No. NS/RKM/0523/004. The New Taxation Law abrogates the Law on Taxation, promulgated by Royal Kram No. NS/RK/0297/03, dated February 24, 1997 (“Former Taxation Law”), and the Law on Amendment to the Law on Taxation, promulgated by Royal Kram No. NS/RK/0303/010, dated March 31, 2003 ...
On 27 April 2023, the ECJ (Case C-537/20) ruled that Article 63 of the Treaty on the Functioning of the European Union (the “TFEU”) must be interpreted as “precluding legislation of a Member State which makes non-resident specialised property funds partially liable to corporate income tax in respect of the income from property which they receive in the territory of that Member State, whereas resident specialised property funds are exempted from that tax” ...
As a matter of important update that may impact potential and scheduled payments of dividends, interest, royalties and other similar “passive types” of income from Russia, please be informed that on 18th of May 2023 Russian Media has announced that Double Tax Treaties (the “DTTs”) with “Unfriendly States” will be temporarily suspended by the Presidential Decree in June 2023 ...
The government of Vietnam issued Decree No. 19/2023/ND-CP dated 28 April 2023 (“Decree 19”) to provide guidance for the Law on Anti-Money Laundering. Decree 19, effective as of its issuance date, includes the following: Details on Know Your Client (“KYC”) Decree 19 sets out the specific situations in which financial institutions must carry out KYC procedures ...
The Supreme Court on 10 May 2023 considered whether damage caused by an oil spill in 2011 could constitute a “continuing nuisance” – and so extend the limitation period for a claim ...
The recent sanction judgment gives important guidance on the way in which the court's discretion should be exercised when sanctioning a restructuring plan and considers whether it is necessary for opposing parties to provide valuation evidence of their own ...
Notification 020/23 was issued by the Accounting and Auditing Regulator (ACAR) on the 12th of May 2023 concerning the Extension to Submit Annual Financial Statements for the 2022 financial year for Enterprises and Non-Profit Organizations that are not subject to independent financial audits ...
In the Industrial Tribunal case with number 3945/CC, the applicant, a Chief Operating Officer and Director, engaged with Amicorp Fund Services Malta Ltd, was dismissed by means of a letter of termination due to the fact that, according to the defendant company, he was not properly performing his functions. The Tribunal commented that the case was a particular one since it dealt with senior management, in which cases usually an amicable termination is arrived at ...
On 10 May 2023, theInformation Regulator(the “Regulator”), an independent body established to monitor and enforce compliance by public and private bodies with the provisions of the promotion of access to information act, 2000 and the protection of personal Information Act, 2013 (“POPIA”) announced that it had issued anEnforcement Noticeto the Department of Justice and Constitutional Development (“theDepartment”) in terms of POPIA on 9 May 2023 ...
Recent developments in South Africa's legal landscape have led to confusion surrounding the grounds for appeals to the Supreme Court of Appeal (“SCA”). In a notable case, the SCA's unanimous decision has cast doubt on the relevance of the interests of justice as a valid ground for appeal. This raises important questions about the appealability of certain decisions and the criteria for granting leave to appeal ...
In its recent judgement in Re Avanti Communications Ltd [2023] EWHC 940 (Ch) ('Avanti') the High Court decided that in some circumstances a charge can take effect as a fixed charge despite the chargor having some flexibility to dispose of assets without the consent of the charge holder. Background A charge expressed to be a fixed charge may be at risk of being re-characterised by a court as a floating charge if the charge holder fails to exercise sufficient control over the assets ...
While the unusual circumstances in the Tate Gallery case attracted plenty of press coverage for its consideration of nuisance in terms of overlooking, it is still business as usual for developers where rights of light are concerned ...
Last Friday, on 12 May 2023, the UAE Ministry of Finance (Ministry) published an Explanatory Guide which provides an explanation of the meaning and intended effect of each article of the Corporate Tax (CT) Law. The Explanatory Guide may be accessedHere ...
Corporate flexibility Jersey’s corporate law regime is modern and flexible, providing a wide range of structuring options that can be tailored to the specific needs of the business. This flexibility is particularly useful for companies looking to list in the U.S., as Jersey companies can look and feel very similar to Delaware corporations where that is desirable. Direct listing Jersey companies can list securities in the U.S ...
Applicability of English case law and practice The relevant provisions of the Jersey companies law are based on the UK Companies Act 1985, and are similar to the equivalent provisions in the UK Companies Act 2006 ...
