The most important corporate tax measures concern the reduction of the maximum corporate income tax (“CIT”) rate and the introduction of the option provided by the anti-tax avoidance directive (“ATAD”)[1]. This allows for the application of the interest limitation rules at the level of a fiscal unity: For the time being CIT is levied at a rate of (i) 15% in case the net profits do notexceed EUR 25,000 and (ii) 18% in case the net profits exceed EUR 30,000 ...
The fallout from the Illinois Supreme Court’s January 25, 2019, opinion in Rosenbach v. Six Flags Entertainment Corp., 19 IL 12316, continues.Rosenbach settled the dispute of who qualifies as an “aggrieved person” under the Illinois Biometric Information Privacy Act (“BIPA”), and in doing so opened the floodgates for this litigation to proliferate ...
On January 19, 2019, federal Magistrate Judge Kandis Westmore of the Northern District of California denied the Government’s application for a search warrant that sought: “all digital devices” present at a California residence; (Order at 3), and “any individual present at the time of the search to press a finger (including thumb) or utilize other biometric features…for the purposes of unlocking the digital devices found in order to permit a search of
We would like to inform you of the new rules of audits/inspections of companies processing personal data approved by the Decree of the Russian Government dated February 13, 2019 No. 146 «On Approving the Rules on Arranging and Exercising Control over Compliance of Personal Data Processing» («Decree»). The Russian Data Protection Authority (DPA) is entitled to investigate companies’ compliance with data protection laws ...
Corporations and governments are ferreting out and squirreling away voluminous, detailed and private information about each and every one of us – and they are not afraid to use it. Should we be worried? Singapore’s Health Minister recently revealed that confidential details of 14,200 HIV-positive people, stolen from a government public health database, had been leaked online by a disgruntled US citizen who had been in a romantic relationship with a local doctor ...
In this context, the judgements provide useful guidance on the concepts of abuse and beneficial ownership. Abuse concept According to the CJEU, it is settled case-law that there is, in EU law, a general legal principle that EU law cannot be relied on for abusive or fraudulent ends ...
Senate Bill 273 goes into effect on March 20, 2019, and creates new requirements for Ohio insurance companies, including health insurance plans, to develop and implement specific information security programs to safeguard nonpublic business and personal information. Senate Bill 273 is based upon the National Association of Insurance Commissioners’ Insurance Data Security Model Law (also referred to as "MDL-668") ...
The Taxation Laws Amendment Act, 2018 (“TLAA”), which was promulgated on 17 January 2018, amended South African tax legislation by overhauling two provisions relating to the reduction of debt, (the “Debt Benefit Rules”), namely section 19 of the Income Tax Act, 1962 (the “ITA”) and paragraph 12A of the Eighth Schedule to the ITA (the “Eighth Schedule”) ...
When a scion of the investment banking world gets into crypto it is probably worth taking notice. JP Morgan Chase, America's largest bank, has just grabbed everyone's attention with the launch of its very own cryptocurrency, the JPM Coin. JP Morgan intends the internally developed crypto asset to be used in its wholesale payment system, which currently sees daily volumes in the region of $6 trillion ...
The Financial Conduct Authority (FCA) recently launched a consultation on its proposed guidance on cryptoassets (CP19/3) which can be read in fullhere. The move comes as part of the UK Cryptoasset Taskforce's wider look into the regulation of the cryptoasset market. The consultation follows a report published in October 2018 by the Taskforce, which consists of the Bank of England, HM Treasury and the FCA. Our discussion of that report can be readhere ...
In its decision from February 7, 2019, the Bundeskartellamt prohibited Facebook from the further processing of user data which it has generated from so-called third party sources. In order to make use of these personal data in future, Facebook will need the consent of the data subject as defined by the General Data Protection Regulation (GDPR). It remains to be seen whether this will be granted by the majority of users. 1 ...
The General Data Protection Regulation (GDPR) provides for a significant increase of the maximum possible fine for legal infringements compared to previous data protection legislation. Fines of up to 20 million euros or 4 percent of the worldwide annual turnover, whichever is higher, can be imposed (Art. 83 para. 5 GDPR). Yet, the first few months after the introduction of the GDPR in May 2018 were uneventful in this regard. That is now changing, however ...
On December 28, 2018, the Department of Health and Human Services (HHS), in partnership with the Health Sector Coordinating Council (HSSC), published the “Health Industry Cybersecurity Practices: Managing Threats and Protecting Patients” (HICP Publication), which is a four-volume publication designed to provide voluntary cybersecurity practices to health care organizations of all types and sizes, ranging from local clinics to large health care systems ...
The US tech giant, Google is fined EUR 50 million by France's data protection regulator, CNIL, for failing to comply with its General Data Protection Regulation (GDPR) obligations. This is the biggest GDPR fine yet to be issued by a European regulator and the first time that one of the tech giants has been found in breach with the new regulations that came into force in May 2017 ...
The use of the Internet without the use of search engines, which list links to Internet pages after keywords have been entered, is almost unthinkable. In the context of the search results, however, websites may appear that contain personal data and thus fall within the scope of the GDPR ...
IN THIS ARTICLE, ABHILAASH SUBRAMANIAM DISCUSSES THE POTENTIAL IMPLICATIONS OF THE MOVE FROM GST TO SST. Introduction The much anticipated Sales Tax Act 2018 and the Service Tax Act 2018(commonly referred to as “SST”) was rolled out on 1 September 2018, together with their respective subsidiary legislations, to replace the previous Goods and Services Tax Act 2014 (“GST”) ...
Some may be wondering what a “telekung” is as it is probably not a common term. A Telekung is a Muslim prayer outfit for females. The general perception of prayer outfits is that they are dull and unfashionable as they have to be modest rather than trendy. However, there has been a drastic shift in the fashion industry in recent years where there are an increasing number of fashionable yet modest clothes in both local and international markets ...
On January 21, 2019, Google was fined nearly $57 million (approximately 50 million euros) by France’s Data Protection Authority, CNIL, for an alleged violation of the General Data Protection Regulation (GDPR).[1] CNIL found Google violated the GDPR based on a lack of transparency, inadequate information, and lack of valid consent regarding ad personalization. This fine is the largest imposed under the GDPR since it went into effect in May 2018 and the first to be imposed on a U.S ...
The Brexit Withdrawal Agreement negotiated between the European Union and the United Kingdom envisaged that during the United Kingdom's transitional period data protection legislation would have been treated in the same way as with the countries of the European Economic Area. This would have allowed a transfer of personal data from the European Union to the United Kingdom without additional measures to ensure adequate levels of data protection ...
In a landmark decision, the European Union Intellectual Property Office (‘EUIPO’) has ruled that McDonald’s, one of the world’s largest fast food chains, will lose its EU trade mark for “Big Mac” ...
The Court of Justice of the European Union (ECJ) must currently clarify whether and how website operators can legally integrate the so-called "Like" button of Facebook on their website (Case C-40/17). A German online retailer had integrated the "Facebook Like" button into their online shop. Due to the functionality of the "Facebook Like" button, personal information was transmitted to Facebook Ireland each time the website was visited, including the IP address ...
2018 has passed; it was full of events and changes in legislation. We would like to share the main trends in registration of business in Russia in 2018 with you. Federal Tax Service (hereinafter the “FTS”) continued its campaign on introducing records on non-reliable data about business into the Unified State Register of Legal Entities (hereinafter “USRLE”), even in respect of the compliant businesses ...
The regulation of Transfer Pricing is one of the mechanisms through which the Directorate General of Revenue (DGI) seeks to avoid the erosion of the tax base. In Panama, it is regulated in the Fiscal Code in its Chapter IX from Article 762-A to 762-Ñ. The obligation on the issue of Transfer Pricing and specifically with the study is generated since the 2011 period ...
An executive order to eliminate the income tax withholding for interest paid abroad on bonds listed in a stock exchange, as well as to grant tax incentives to taxpayers investing in a capital market in Mexico was published in the Federal Official Gazette on January 8, 2019. The following tax incentives were created for productive investment projects: Corporate Bonds ...
Under its Article 88(1), the GDPR allows Member States to draw up their own rules for the area of employee data protection. Germany has taken advantage of this option with Section 26 of the Federal Data Protection Act (BDSG). The first sentence of Section 26(1) already applies while the decision to establish an employment relationship is made and hence it needs to be taken into account early in the application process ...
