"Leave this to me, I'm British… I know how to queue."{1} The Energy Services Operator (ESO) recently published a consultation which sets out a vision of medium-term reform for connections to (or affecting) the Transmission Network, whether they are directly connected or embedded ...
Labour party donor and entrepreneur, Dale Vince, has put the spotlight back on the controversy surrounding the tax treatment of carried interest received by private equity fund managers, by instructing The Good Law Project to serve a “pre-action protocol” letter on HMRC seeking judicial review of its practice of taxing such carried interest as capital gains as opposed to income ...
SyCipLaw’sTax Department has prepared Tax Issues and Practical Solutions(T.I.P.S.) for May. Please read the full text hereor via this link.SyCipLaw’s Tax Department has prepared Tax Issues and Practical Solutions (T.I.P.S ...
Joseph Raczynski joins Paul Caddy to discuss horizon-gazing and what the future might hold. Joseph is a leading technologist and futurist. He speaks globally on subjects like blockchain, artificial intelligence, cryptocurrency, the Metaverse, NFTs and cybersecurity. Joseph hosts Technology Snippets Today a video podcast series which explores cutting edge technology and innovation ...
Throughout the United States and globally there is an undisputed trend towards renewable energy as much of the world seeks to decarbonize in response to the risks of climate change. As the article, “Clean energy investment is now nearly 2x that of fossil fuels – here’s why,” from Electrek notes, as of 2023, for every $1 spent on fossil fuels globally, now more than $1.70 is spent investing in clean energy, a ratio that was 1:1 just five years ago ...
It is broadly accepted that hydrogen has an important part to play in our net zero future -the shape and the extent of that role, however, is widely debated. Low carbon mobility is one of those areas. Most analysis has focussed on the commanding position held by battery electric vehicles (BEVs) in personal mobility, and some of the advantages which hydrogen fuel cells have in heavy duty or return-to-base applications like buses[1], waste vehicles[2] and heavy haulage ...
Monday, May 29, 2023, marked the official end of the 88th regular session of the Texas Legislature. It was an especially active session for the energy industry, which saw the passage of several bills that, if signed into law by Gov. Greg Abbott, will have significant and long-term impacts on the oil and gas, renewable energy and power sectors in Texas ...
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 ...
Key Takeaways Rooftop solar (“RTS”) power installations are permissible, based on two categories: Category 1 – RTS systems not synchronized with the national power grid; or Category 2 – RTS systems synchronized with the national power grid. An annual quota for Category 2 permits will be set. Compensation tariffs (i.e. reduced tariffs payable by consumers based on their RTS generation). Technical and safety standards. One Window Web Portal ...
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 ...
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 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 ...
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 ...
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 ...
The Norwegian Government today, ahead of presenting the revised budget for 2023, announced postponed implementation of resource rent tax on onshore wind power. The proposal for a resource rent tax was sent for consultation on 16th December 2022, with the deadline set for 15th March 2023. The initial plan was to implement the tax from 2023, but the effective date is now under review, partly due to feedback received during the consultation period ...
A significant change to the tax treatment of income which is vested by a South African trust in non-resident beneficiaries has been proposed in Annexure C of the 2023 Budget Review (the “Review”), which sets out additional tax amendments for the upcoming legislative cycle ...
As countries and companies around the world set goals for renewable energy targets, there is constant uncertainty as to the best path for reaching these goals. While wind and solar development are often top of mind, nuclear generation recently has entered the discussion to achieve a carbon-free energy future. The linked articles discuss renewable energy goals and opinions regarding nuclear energy's role in such a transition ...
