Ekachai Chotpitayasunon, Pariyapol Kamolsilp, and Kongkoch Yongsavasdikul, partners of Kudun and Partners together with senior associates; Kongwat Akaramanee and Supatra Kerinsaguna, were invited to speak at a seminar organized by the Association of Family Business Entrepreneurs (AFBE) under the topic “Holding & Tax Management – Game Plan for Family Business Sustainability” ...
After becoming the object of several infringement procedures conducted by the European Commission, Spain has been forced to amend several non-resident income tax provisions to ensure those provisions comply with the principles enshrined in the Treaty on the Functioning of the European Union ...
On 19 July 2017, the South African National Treasury released the 2017 Draft Taxation Laws Amendment Bill (“draft TLAB”) for public comment. One of the proposals contained in the draft TLAB is the deletion of the exemption for foreign employment income contained in section 10(1)(o)(ii) of the Income Tax Act, 1962 with effect from 1 March 2019 ...
The first draft Taxation Laws Amendment Bill, 2017 (the “2017 TLAB”) was released on 19 July 2017 for public comment (due by 18 August 2017).Among other things, it is proposed that the current section 22B of the Income Tax Act, 1962 (the “Act”) and paragraph 43A of the Eight Schedule to the Act, be substituted with a new section 22B and paragraph 43A ...
The Crypto Assets Regulatory Working Group (“CAR WG”) of the Intergovernmental Fintech Working Group (“IFWG”) has released its long-anticipated position paper on crypto assets. The position paper proposes that a clear regulatory policy for crypto assets be adopted in South Africa. However, it is still recommend that crypto assets not be regarded as legal tender or public money ...
In light of President Ramaphosa’s announcement of a phased approach to the end of lockdown, many businesses will still be required to remain closed (or partially closed) after 30 April 2020. With this in mind, many employers will still require assistance from the Coronavirus (COVID-19) Temporary Relief Scheme (“C19TERS”) ...
Following the South African President’s speech on 15 March 2020 that a national state of disaster has been declared in terms of the coronavirus (COVID-19), a number of measures were implemented to counteract the impact of the virus by the South African Government. We cover below the legal implications of some of these measures, particularly the repayment of bookings and data protection ...
On 15 March 2020, South African President, Cyril Ramaphosa, declared a national state of disaster in terms of the Disaster Management Act, 2002. This declaration will enable government to have an integrated and coordinated disaster management mechanism that will focus on preventing and reducing the outbreak of Covid-19, otherwise known as the Coronavirus. The president announced measures that South Africa will take to prevent and control of the Coronavirus ...
At their core, the Regulations in terms of the Disaster Management Act, 2002 issued and brought into operation yesterday, 18 March 2020, outline the responsibilities of all government departments, the release and allocation of resources, and the conditions under which liquor industry may function. In the wake of the coronavirus (COVID-19) epidemic being declared a national state of disaster, the Regulations are intended to contain the spread of the virus ...
On 27 March 2020, the South African Revenue (“SARS”) announced much needed value-added tax (“VAT”) relief on the importation of “essential goods” as part of the coronavirus (COVID-19) tax relief measures. Section 7(1)(b) of the Value-Added Tax Act, 1991 (“VAT Act”) imposes VAT on the importation of any goods into South Africa by any person. In terms of section 7(1), VAT is imposed at the standard rate of 15% ...
This article is an updated version of the article published on 16 March 2020. On 15 March 2020, South African President Ramaphosa announced the declaration of a national state of disaster, as a result of the recent events surrounding the rise in coronavirus (COVID-19) infections in South Africa. The declaration of a national disaster was made in terms of the Disaster Management Act, 2002 (the "DMA") ...
A recent IRS concession bodes well for how the tax treatment of proof of stake validators may develop through case law. On December 20, 2021, the IRS offered a full refund to the plaintiffs in Jarrett et al v. United States for taxes paid on tokens created through proof of stake on the Tezos blockchain in 2019. In a statement released February 3, 2022, Joshua Jarrett confirmed the decision to seek an IRS ruling in the cryptocurrency case, rather than accept the tax refund ...
The Algarve has been seriously affected by the social and economic impacts of the COVID-19 pandemic. In this context, on 29 July 2020, the Portuguese Parliament published Resolution no. 51/2020 in which it recommend the adoption of a social and economic emergency plan for the Algarve (“Plano de emergência social e económico para o Algarve”) by the Portuguese Government. The recommended measures set out in Resolution no ...
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
Slump Sale - Effect of Amendments by Finance Act 2021 AUTHOR: Shahid Khan Senior Partner and Head Direct Taxation Kochhar & Co. Email: [email protected] Finance Act 2021 has made certain important amendments to Income Tax Act (the Act) in respect of provisions relating to taxation of capital gains arising on Slump Sale ...
The DIFC has provided slightly more clarity as to how UAE Cabinet Decision 31 of 2019 (the Economic Substance Regulations, or ESR) will apply within Dubai’s financial free zone. Helpful as the guidance is, significant questions remain. The DIFC held a presentation on 17 December to discuss the Economic Substance Regulations. The first point of note was that all businesses in the DIFC must file an ESR notification by 31 March 2020 ...
Key Points As of January 2022, CMS is posting each skilled nursing home's weekend staffing levels and staff turnover rates on its public-facing Care Compare website. This information will be used in the Nursing Home Five Star Quality Rating System and will affect facilities' Five Star ratings starting in July 2022 ...
Beginning July 1, 2019, the Ohio Department of Medicaid (ODM) is requiring all Ohio managed care plans to make room and board payments directly to hospice providers when hospice services are provided to individuals residing at skilled nursing facilities (SNF) ...
Skilled nursing facilities have faced unprecedented challenges since the outbreak of the coronavirus pandemic. Individuals with many high-risk characteristics are the typical patients of these facilities. Add to this, necessarily close proximity of these patients, scarcity of personal protective equipment and shortage of testing common across the healthcare industry, and you have a perfect storm of increased risk with limited options for mitigation ...
Yesterday a three-judge panel from the United States Court of Appeals for the Sixth Circuit became the first appellate court to uphold the constitutionality of the minimum coverage provision of the Patient Protection and Affordable Care Act (the “Act”), requiring that Americans obtain health insurance. Opinions are expected from the Fourth and Eleventh Circuits later this summer ...
In a significant victory for healthcare providers, the Sixth Circuit Court of Appeals on Monday overturned an $11.1 million False Claims Act (FCA) judgment against Atlanta-based medical imaging company MedQuest Associates, Inc. and three of its Nashville, Tennessee-area imaging facilities. The Court held that the company did not violate the FCA by failing to comply with Medicare supervising-physician regulations or Medicare enrollment regulations following a change of ownership ...
On July 16, 2014, the Sixth Circuit Court of Appeals confirmed that a “health care provider can bring the Medicare Secondary Payer Act’s (“MSP’s”) private cause of action against a non-group health plan that denies coverage for a reason besides Medicare eligibility.” In Michigan Spine & Brain Surgeons, PLLC v. State Farm Mutual Automobile Insurance Co., the Court clarified a key holding in its prior decision in Bio-Medical Applications of Tennessee, Inc. v ...
The South African Revenue Service (“SARS”) introduced a new streamlined process primarily geared towards the single registration of a taxpayer across applicable tax types. This system was implemented on 12 May 2014. Prior to this system, processes at SARS required that a taxpayer be registered at a SARS branch on several interfaces relating to each tax type ...
