If the COVID-19 pandemic affected the value of your property, Ohio Senate Bill 57 (S.B. 57) may offer you (or your triple-net lease tenant) a chance to reduce your Ohio real property taxes not available under prior law. Property tax valuation complaints in Ohio counties can be filed only once in each three-year interim period, and property values are determined as of January 1 of the tax year. Because the COVID-19 pandemic in the U.S ...
Upcoming changes to Ohio’s Community Reinvestment Area (“CRA”) property tax exemption program will make it easier to create and to use CRAs. On January 2, 2023, Ohio Governor Mike DeWine signed Substitute Senate Bill 33 of the 134th General Assembly (“SB 33”), enacting substantial changes to existing CRA statutes, ultimately easing existing CRA requirements. The changes will take effect on April 3, 2023 ...
In April 2020, SEMARNAT published the Accord by means of which the public is made aware of the days that will be considered as non-business days for purposes of the acts and administrative procedures ...
Section 103(2) of the Income Tax Act, 58 of 1962 empowers the Commissioner (the “Commissioner”) for the South African Revenue Service (“SARS”) to disallow the setting off of an assessed loss or balance of an assessed loss against the company’s income if the relevant requirements are met ...
On Friday, March 20, 2020, the Department of the Treasury issued Notice 2020-18 (which supersedes Notice 2020-17 issued two days prior), postponing tax filing and payment deadlines for many taxpayers in order to grant some amount of relief to individuals and businesses amid the Coronavirus/COVID-19 crisis ...
On January 27, 2010, the Securities and Exchange Commission (the “SEC”) voted to provide interpretive guidance on SEC disclosure requirements as they apply to business or legal developments relating to the issue of climate change ...
The Philippine Securities and Exchange Commission (SEC) issued Memorandum Circular No. 1, s. 2013 dated 7 January 2013, requiring the incorporation of the tax identification number (TIN) of foreign investors in all forms papers and documents filed with the SEC ...
Intending to provide clear reporting obligations for issuers, and to provide consistent, comparable, and decision-useful information for investors, on March 21, 2022, the Securities and Exchange Commission (SEC) proposed a landmark climate disclosure rule that would mandate SEC registrants to disclose greenhouse gas (GHG) emissions and certain materials risks relating to climate change ...
As part of the ongoing rulemaking initiatives contemplated by the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), the Securities and Exchange Commission (“SEC”) recently released a proposed rule defining “family offices” for purposes of an exemption from registration under the Investment Advisers Act of 1940 (the “Advisers Act”) ...
In late September, the SEC’s Division of Corporation Finance continued signaling the increased importance of ESG initiatives in its mission by publishing a sample comment letter similar to what it may provide to issuers when reviewing their filings ...
On February 2, 2010, the Securities and Exchange Commission (the “SEC”) announced guidance regarding public companies’ disclosure obligations related to climate change.1 On February 8, 2010, the SEC published that guidance in the Federal Register, at which time it became effective. As a result, calendar year-end companies with upcoming annual reports on Form 10-K should evaluate whether their disclosures concerning climate change are consistent with the new guidance ...
With the new year comes a new president. Will the new year and administration also bring new water policy? Bet on it. Just as President Trump undid President Obama’s signature water policy decision—the Clean Water Rule, which clarified and arguably expanded federal water permitting jurisdiction—President Biden is likely to rewind many of President Trump’s water policy (and, more generally, environmental policy) decisions over the next four or more years ...
The Scottish Government is proposing to overhaul Energy Performance Certificates (EPC) - giving building owners and occupiers more information than ever before. The potential reforms aim to be targeted and useful – helping pave a clear and achievable path towards achieving net zero. On 25 July 2023, the Scottish Government published its consultation on reforming domestic and non-domestic EPCs to ensure they support future regulations on heat in buildings ...
The oil and gas sector has seen significant changes over the past few years, led by a significant reduction in global oil prices. This has increased the focus on operational efficiency and more flexible ways of working collaboratively to alleviate the effects of protracted price deflation ...
While water resource management can, ironically, be one of the driest of topics in mixed company, thefuture supply of fresh water is becoming an increasingly critical global issue. This week experts from around the globe are converging on Dundeefor an international conference, discussing security and sustainability issues around water ...
This is an update with respect to notifying the proforma of applications and End Use Certificate for implementation of ‘Global Authorisation for Intra-Company Transfers (GAICT) of SCOMET items / software/ technology’ w.e.f. 17 March 2020 vide Public Notice No.65/2015-20 dated 17 March 2020 issued by DGFT. The proforma and their applicability to seek export authorisation has been notified as tabulated below....... S ...
The final phase of the Esterra Park development in Redmond, Washington, is a carbon-neutral development. Schwabe client JTM Construction is the general contractor for that project. As attorneys, we are interested in staying up to date on market trends, so we asked JTM to put together a panel to brief Schwabe’s Real Estate and Construction industry group on the carbon-neutral aspects of the project ...
When does the directors' duty arise to consider creditors' interests in the face of insolvency if a liability is disputed? Hayley Capani and Kate Garcia consider the case of Hunt v Singh and conclude we still don't have all the answers. When the decision in Sequana was handed down, commentators expressed both disappointment and (dare we say it) joy that a clear test had not been laid down as to when the creditor duty arose ...
A lesser-known state incentive in the nonprofit sector has created a boon for taxpayers, private education institutions and their students. Across the country, states are providing tax credits that reduce individuals’ state income taxes for any donation to a state-certified nonprofit organization providing scholarships to K-12 students to attend private schools ...
On May 23rd, Governor Abbott signed SB 709, fundamentally changing Texas’s contested hearing process for environmental permits. Effective September 1, SB 709 requires the Texas Commission on Environmental Quality to adopt rules implementing its changes by no later than January 1, 2016 and to provide notice before then that these changes apply to applications filed after September 1 ...
On 17 March 2016, the South African Revenue Service (“SARS”) issued an interesting binding private ruling (“BPR 227”) concerning a share subscription transaction which was followed by two share buyback transactions.BPR 227 deals with an area that National Treasury and SARS have identified as a problem, namely where a shareholder disposes of its shares through means of a share buyback as opposed to selling the shares outright to a third party ...
The South African Revenue Service (“SARS”) has published a public notice (“the Notice”) setting out reportable arrangements and excluded arrangements for purposes of sections 35(2) and 36(4) of the Tax Administration Act 28 of 2011 (“TAA”). The Notice was released and became effective on 3 February 2016, replacing all notices previously issued under sections 35(2) and 36(4) of the TAA ...
Introduction On 30 April 2019, the South African Revenue Service (“SARS”) published draft rules, schedules and forms for the implementation of the carbon tax and provided details on the envisaged carbon tax administration, including the registration of clients, licensing of emissions facilities, carbon tax environmental levy accounting and the application of allowances as rebates ...
On 2 June 2017, the South African Revenue Service (“SARS”) published a draft public notice requiring the submission of country-by-country (“CbC”), master file and local file returns. This marks an important step towards the finalisation of South Africa’s transfer pricing documentation requirements ...
