The Philippine Competition Commission (PCC) has issued the rules for the implementation of Section 4(eee) of Republic Act No. 11494, the “Bayanihan to Recover as One Act” (Bayanihan 2)1 on October 5, 2020 and these rules (PCC Rules on Bayanihan 2)2 were published, and thus became effective, from the same date ...
This is the first article in a three-part series focused on the intersection of the 2020 presidential election and cannabis policy in the United States. Each article will focus on the specific presidential candidates of the two major parties and the eventual winner. Check back in two weeks for the next entry in this series. The 2020 U.S. presidential election is underway, with many voters already casting their ballots under unprecedented circumstances ...
Over-indebted companies still exempted from filing duty until 31 December 2020COVID-19-affected companies to benefit from easier access to protective shield proceedings and preventive restructuring schemes/ regimes as from 1 January 2021 Two German legislative initiatives taken in September 2020 will have an immediate impact on the options available to restructure a business under German law: DUTY TO FILE FOR INSOLVENCY RE-INSTATED FOR ILLIQUID COMPANIES AS OF 1 OCTOBER 2020; SUSPENSIO
An app that has captivated Generation Z with the ability to create and share videos has been dragged into the US-China power struggle, becoming its latest flashpoint. The current social media darling, TikTok, boasts 800 million active users. Reports value it at up to US$50 billion (S$68.4 billion). Considering that its Beijing-based app maker launched it worldwide only two years ago, that represents huge growth ...
Key Points Starting Jan. 1, 2021, California skilled nursing facilities must have a full-time, dedicated Infection Preventionist. Infection Preventionists must be an RN or LVN, but their hours may not count in minimum direct patient care staffing calculations ...
In this article, Tang Yen Yi examines the PENJANA Short-Term Economic Recovery Plan in relation to the property sector. During these unprecedented times of a global pandemic due to COVID-19, the Government of Malaysia announced the recovery plan for the country’s economy: PENJANA Short-Term Economic Recovery Plan (“PENJANA”).PENJANA includes plans to stimulate the economy with incentives for real estate transactions ...
A case note by Abhilaash Subramaniam Introduction In the recent case of SWW v Ketua Pengarah Hasil Dalam Negeri, the High Court of Malaya granted the taxpayer leave to apply for judicial review, a stay of proceedings pending the disposal of the taxpayer’s application for judicial review and subsequently allowed the taxpayer’s judicial review application on the merits, ordering a prohibition on all collection and enforcement action relating to disputed taxes and assessments
On November 15, 2019, a broad group of Congresspersons from a broad political spectrum came to the agreement of initiating a process for eventually replacing the Chilean current Constitution with a New Constitution, as a reaction to the social demonstrations that had taken place during the previous weeks ...
Income Tax The Income tax The Income Tax (Special Treatment for Interest on Loan) Regulations 2020 have been gazetted on 25 August 2020 and shall have effect for the year of assessment 2020 and subsequent years of assessment ...
Key Points Under the final regulations, the IRS can change the default rate of withholding applied to monthly pension or annuity payments simply by issuing new forms, instructions, or other guidance, rather than by having to issue new regulations. Plan administrators and annuity providers should consider making changes to their systems and processes to allow frequent changes to the default withholding rate for pension or annuity payments ...
In a major win for sellers of services and intangibles, the Ohio Supreme Court ruled on Sept. 29, 2020, that a taxpayer is entitled to Ohio Commercial Activity Tax (CAT) refunds stemming from its sale of contracts to an out-of-state buyer ...
A recent Ministerial Order1 from the Minister of National Revenue has formally extended certain deadlines under the Income Tax Act (“ITA”) and the Excise Tax Act (“ETA”). The Order is retroactive to March 13, 2020. The extension is 6 months or until December 31, 2020, whichever is earlier. This Ministerial Order will have various implications for taxpayers and registrants, in particular in terms of limitation periods ...
BAG, ruling dated May 13, 2020, 4 AZR 528/19 The employee's remuneration, referred to in an employment contract as "collectively agreed salary" is to be understood as a "dynamic reference clause". If a reference "to the collective agreements applicable for the Company" has been agreed upon in the employment contract, this reference is limited to the binding collective agreements applicable for the employer at the time the contract is concluded ...
Since the beginning of the COVID-19 pandemic, the media has repeatedly reported about terminations by the employer, which are based on the fact that employees did not adhere to corona measures during their leisure time, for example because they took part in large anti-corona demonstrations and disregarded the distance rule or were associated with anti-constitutional ideas ...
How is taxable income determined in your state? To what extent is the state income tax base aligned with the federal income tax base? Alabama levies a corporate income tax on business entities classified as taxable or “C” corporations that have nexus with the state and are not classified as “financial institutions” or insurance companies subject to a separate premium license tax; and it levies a FIET on business entities classified as financial institutions havin
SyCipLaw TIP 1: Based on reports, the BIR is considering applying a minimum threshold on who will be required to submit BIR Form No. 1709. The threshold may be based on the assets or revenue of the entity or the size of the transaction, or both. However, until the BIR issues the relevant circular, a taxpayer entering into transactions with related parties must ensure that it complies with the requirements under RR No ...
This briefing provides an overview of the salient points of Department of Justice (“DOJ”) Circular No. 016 (Rules Implementing the Criminal Provisions of Republic Act No. 10667, Otherwise Known As the Philippine Competition Act)1 (“PCA Rules on Criminal Provisions”). A ...
On September 22, 2020, the U.S. Department of Labor (DOL) released its first-ever proposed rule outlining a test for when a worker is an employee or independent contractor under the Fair Labor Standards Act (FLSA). In its proposed rule, the DOL has created a new framework for the well-established “economic reality” independent contractor test ...
We would like to take this opportunity to remind our readers that the immovable property tax (“TOIP“) and Unused Land Tax deadline for 2020 is next Wednesday the 30th of September 2020. The 2020 TOIP and Unused Land Tax payment can be made at any tax branch or any branch of Canadia, Acleda, Vattanac or Cambodia Public Bank. Those already registered for TOIP and Unused Land Tax need to provide their 2019 tax payment receipt or Property Tax Registration Identification Card ...
The Tax Court of Canada (the “Court”) recently upheld the deductibility of carrying charges incurred in connection with an issuance of shares. In so doing, the court upheld the tax benefits arising from a common financing practice. In addition, the Court reiterated the principle in tax matters according to which, save in exceptional cases, the legal relationships established by one or more taxpayers must be respected ...
In recent months, a number of changes to the Russian tax legislation, implying long-term effects for both Russian taxpayers and foreign investors, are taking place. Amendments to the Double Tax Treaties ('DTTs') are among of the most important ones. Below, we provide our consolidated analysis of the forthcoming changes and recommendations on steps to prepare for them ...
In order to follow its task of reducing bureaucratization of the sale process of federal real estate properties, the Secretariat for the Coordination and Governance of the Federal Government’s Assets (SCGPU) edited three ordinances intended to regulate instruments brought by Law no. 14 ...
