To protect consumers of oil and gas products, on 13 June 2008, the Minister for Energy and Mineral Resources issued Regulation No. 19 of 2008 regarding Guidelines and Procedures for the Protection of Consumers for Downstream Oil and Gas Business Activities (the "Regulation") ...
Debate is raging at the moment as to the economic and political wisdom of imposing a so-called windfall tax on the profits of the UK's energy companies. Politicians, business people and consumer groups have all offered their views on what has been described as a "legalised raid" on the energy companies. But are the proposals "legal" at all? In that context it is important to consider where the profits in question are likely to have arisen ...
On 3 April 2008, the Supreme Administrative Court announced a decision in a case which has given rise to strong reactions among tax law specialists. The criticism has been harsh and concerns the Supreme Administrative Court’s decision to give the Swedish CFC-rules precedence over the Swedish-Swiss tax treaty ...
Ahead of the autumn finance bill, the government has stated that SEK 30 billion will be designated for reforms in the labour market and enterprise, welfare and investments for the future. 13 of these 30 billion are earmarked for an “enterprise package” which, inter alia, includes a reduction in corporate tax from 28 percent to 26.3 percent ...
The Supreme Administrative Court stated in a final judgement on 16 June this year, that an allowable underprice sale is not at hand if the transfer price which is less than market value is matched by an input of labour ...
The business world is in continuous evolution. In order to remain competitive, a professional must be aware of the developments that may affect or influence his or her practice. It is in this spirit that we have created “RATIO”, a quarterly legal information publication intended to support you in the achievement of your professional goals. The name of this publication is a term employed in both the legal and accounting professions ...
The UK Green Building Council has announced a new industry wide consultation to explore what kind of Code for Sustainable Buildings the industry needs to help it achieve the zero carbon target of 2019 and other sustainability challenges ...
As Petroleum Commissioner for Namibia, Dr Leon Moller had first-hand experience of negotiating with international oil companies in Africa. Now a solicitor in Aberdeen, with leading UK law firm Shepherd and Wedderburn, he outlines the challenges and potential pitfalls facing firms hoping to exploit the continent's vast resources ...
On May 28, 2008, the Quebec Minister of Natural Resources and Wildlife, Claude Béchard, presented the first Government strategy for the lumber use in construction. Entitled “Agir aujourd’hui pour demain” (Acting today for tomorrow). This initiative has the goal of a threefold increase by 2014 in the use of wood products in the non-residential sector and in construction of multi-family dwellings, thus reducing greenhouse gas emissions by 600,000 tonnes ...
On March 14, 2008, Luc Bertrand, the Chairman of the Board of the Montreal Climate Exchange, announced that the Exchange filed an application with the Autorité des marchés financiers requesting approval of the trading of environmental products on its electronic trading platform ...
Province of British Columbia Bars Exploration and Development of Uranium ResourcesOn April 24, 2008, the Province of British Columbia announced that it will not support the exploration and development of uranium in British Columbia and is establishing a "no registration reserve" under the Mineral Tenure Act for uranium and thorium. The "no registration reserve" will ensure any future claims do not include the rights to uranium ...
Yukon Supreme Court Considers the Duty to Consult on Settled Treaty LandsCanadian case law continues to refine the principles of the duty to consult and accommodate Aboriginal peoples, and the May 2007 decision of the Yukon Supreme Court in Little Salmon/Carmacks First Nation v. The Government of Yukon (Minister of Energy, Mines and Resources), 2007 YKSC 28 considers the extent of its application on recently settled treaty lands in the Yukon ...
The Planning etc (Scotland) Act 2006 has placed the National Planning Framework (NPF) – Scotland's national planning strategy - on a statutory footing, to be reviewed every four years. The NPF was published in 2004 to largely widespread approval from industry, political and community figures. The purpose of the NPF was to introduce the Scottish Executive's strategy for the "spatial development of Scotland until 2025" ...
On 1 April 2008, the market for non-household water and sewerage services in Scotland 'went live'. For the first time, business customers were able to choose their water and sewerage retailer in much the same way as they are accustomed to doing for other utility services, such as telecommunications, electricity and gas ...
The EU Emissions Trading Scheme (EU ETS) is one of a number of policies introduced across the European Union to help it meet its greenhouse gas emissions reduction target under the Kyoto Protocol. The EU ETS is viewed by many as one of the ways that private sector investment in CCS (Carbon Capture and Storage) can be incentivised ...
1. The recently published Decree-Law 55/2008 of 26 March has set out the regulatory provisions necessary for implementing incentive measures for the speedier recovery of areas in Portugal that suffer most from typical inland regional problems, as provided for in the Tax Benefits Statute (EBF) ...
1. Last Friday saw the publication of Decree-Law 13/2008, of 18 January, which extended the tax regime applicable to companies that register to carry on business in the Madeira Free Trade Zone between 1st January 2007 and 31st December 2013 ...
Several major changes to the PRC’s Tax Law have come into effect since 1 January 2008. These include the unification of the income tax treatment of all enterprises (foreign and domestic as well as joint-venture companies), resumption of the previous 20 % withholding tax on outgoing dividends to be paid by foreign investment companies to their foreign parent companies, lower effective income tax rates and introduction of the concept of “resident enterprises” ...
ARGENTINE TAX SYSTEMPOLITICAL CONFIGURATIONThe Republic of Argentina has three levels of Government (Jurisdictions): Nation, Provinces and Municipalities.The government system of the Nation and the Provinces has three powers: The Executive that deals with the Administration, the Legislative in charge of passing the Laws, and the Judiciary responsible for the Administration of Justice ...
1. The long-awaited duty requiring users or promoters of operations and transactions whose sole or principal objective is to obtain tax benefits to communicate such operations or transactions to the tax authorities has finally become law in Decree-Law 29/2008 of 25 February. 2. Due to its excessively wide nature, however, the new antiabuse measure raises some very serious doubts ...
Several legislative instruments on VAT issues were published in the Official Journal of the European Union on 20 February, amending the rules for determining the place where services are supplied for the purposes of VAT: - the general rule will be reversed and services will now be taxed in the place of consumption as opposed to where the supplier has its establishment ...
The government's current plans to increase the UK's wind energy industry are "too late and too weak", the British Wind Energy Association (BWEA) has argued. Under recent proposals put forward by the European Commission, the UK must obtain 40 per cent of all electricity from renewable sources, such as wind and solar power, within the next 12 years ...
1. Last Friday saw the publication of Decree-Law 13/2008, of 18 January, which extended the tax regime applicable to companies that register to carry on business in the Madeira Free Trade Zone between 1st January 2007 and 31st December 2013 ...
