With this continued interest, a number of Singapore are managers using Jersey as the jurisdiction in which to domicile their funds. This choice is driven by several factors. Singapore tax treatment of digital assets. Digital assets do not fall within the definition of a “designated investment” for the purposes of Singapore tax legislation. This means that a Singapore domiciled fund will be subject to tax in the country, and such tax leakage is hugely unattractive to investors ...
October 31, 2022 By: Michael Flynn Recent pronouncements by Vice President Harris and by an SBA public affairs specialist indicate that SBA will soon publish a Notice of Proposed Rulemaking (NPRM) that will propose an expansion of the number of non-depository institutions that can participate as lenders in the SBA 7(a) loan program, and that FinTechs will be among the types of institutions included in the expanded eligibility ...
On 27th June 2021, the European Commission unveiled the new set of EU Standard Contractual Causes (‘SCCs’) that are to be used in instances when personal data are to be transferred from the EU/EEA to a third country ...
The Royal Government of Cambodia will continue its relief measures to mitigate the economic impact of Covid-19 and support the recovery of the country’s tourism sector, according to an official announcement on 25 October 2022 ...
Alleged base erosion and profit shifting activities of multinational enterprises (“MNEs”) have been a hot issue globally and therefore the chances of an MNE being confronted with a transfer pricing audit have increased substantially over the last few years ...
Due to the impact of the COVID-19 pandemic, many employers have seen an increased demand for international remote working arrangements. We have briefly touched upon the OECD guidelines relevant to these arrangements in a prior article ...
On 6 October 2022, as part of the ongoing work of the OECD/G20 Inclusive Framework (“IF”) on Base Erosion and Profit Shifting (“BEPS”) to implement the Two-Pillar solution to address the tax challenges arising from the digitalisation of the economy, the OECD released its progress report for comment. Background The report was prepared for the purposes of obtaining further input from stakeholders on the administration and tax certainty aspects of Amount A ...
The Covid-19 pandemic has played an important role in shaping labour markets by accelerating the growth of digital labour platforms which have in turn brought a number of challenges ...
The European Council of the EU gave formal approval to the Digital Services Act (DSA) on 4 October 2022, which is the most significant update to the legal framework on digital services since the adoption of the E-Commerce Directive in 2000. The focus of the DSA is to improve user safety online by regulating online content, advertising and product sales ...
With the government’s widely publicised plan to end the sale of new petrol and diesel cars in the UK by the end of the decade comes a secondary issue – the need for an extensive electric vehicle (EV) charging infrastructure to support an exponential increase in the number of EV cars on the road. Rollout of EV chargepoints is significantly behind what is needed to meet the predicted demand from 2030 ...
That’s the question Shoosmiths and Cornwall Insight’s recent report sought to answer, investigating the role the Battery-as-a-Service (BaaS) model could play as part of the UK’s electric vehicle charging network. In a new video, Jonathan Smart, partner and head of mobility at Shoosmiths, discusses the BaaS model, which enables electric vehicle owners and business fleets to swap out depleted batteries for fully charged ones at a service station via a subscription service ...
After one year of processing, last October 12, Chilean Congress passed the Fintech Law initiative (the "Fintech Law"). The speed in the processing of this bill responds to the need to give legal certainty to the Fintech of companies, given their growth in recent years and their importance as a tool for strengthening the national economy ...
The morning of February 24 began as an ordinary day for IP attorneys Julia Semeniy and Yuliya Prokhoda, with planned court hearings, client meetings and routine school runs in Ukraine. But when Russia began its onslaught on the country, in an act of internationally condemned aggression, their lives changed dramatically ...
On 10 October, the Government submitted the State Budget Law Proposal for 2023 Parliament Bill 38/XV/1st to the Portuguese Parliament. This budget proposal comes in a demanding economic environment that is characterised by high inflation and the prospects of a slowdown in most economies ...
It has been a little over a year since the Financial Action Task Force (“FATF”), an international initiative established to combat money laundering published its Mutual Evaluation Report (“MER”) on South Africa in which it identified major “weak spots” in our compliance processes. The FATF gave the country a deadline of February 2023 to remedy all the deficiencies or face possible grey listing ...
as published in West Virginia Banker magazine, Fall 2022 A recent survey by PricewaterhouseCoopers (“PwC”) revealed that U.S. executives now consider cyberattacks the number one risk their companies face. Concerns about cybersecurity have moved beyond the Chief Information Security Officer (“CISO”) to the entire C-suite and corporate boards ...
Please be informed that today the online form for submission of applications for IT accreditation according to the new rules was launched. As a reminder, on September 30, 2022, the Russian government approved the new rules and criteria for IT companies1 accreditation ...
After more than 10 years, the Department of Finance has finally issued Revenue Regulations (RR) 7-2022, which provides "the policies and guidelines for the availment of tax incentives under the Renewable Energy Act of 2008" ...
Annex II is a list of cooperative jurisdictions maintained by the EU that reflects ongoing cooperation between the EU and its international partners and the commitments of these countries to reform their legislation to adhere to agreed tax good governance standards. Its purpose is to recognise ongoing constructive work in the field of taxation, and to encourage the positive approach taken by cooperative jurisdictions to implement tax good governance principles ...
Resource rent tax on aquaculture The government proposes to introduce a resource rent tax on aquaculture from 1st of January 2023. The proposal will be circulated for consultation today with a deadline of 3rd of January 2023. The proposal includes a resource rent tax with an effective rate of 40% applicable to the production of salmon, trout, and rainbow trout. The proposal includes a tax-free allowance of between 4,000 and 5,000 tonnes ...
In the CyberMonday event, from October 3 to 5 2022, will be fully in force the reforms to Law No. 19,496 on Consumer Rights Protection in the field of e-commerce, introduced mainly by the "Pro-Consumer" Law and the Electronic Commerce Regulation. The following are the main aspects and obligations to be taken into consideration for the event: Promotions, offers, contests and sweepstakes must disclose the terms and conditions governing them and their term of duration ...
