The Fit for 55-package To achieve EU’s Paris climate goals, the EU Commission presented in December 2019 the European Green Deal, including a commitment to reduce greenhouse gas emissions by at least 55% by 2030 (compared to 1990 levels) and become carbon neutral by 2050 ...
On January 4, 2022, 13 ministries and commissions, including the Cyberspace Administration of China (“CAC”) and the China Securities Regulatory Commission (“CSRC”), jointly promulgated the Final Measures for Cybersecurity Review (the “Final Measures”). The Final Measures are binding and will become effective on February 15, 2022 ...
On January 4, 2022, 13 ministries and commissions, including the Cyberspace Administration of China (“CAC”) and the China Securities Regulatory Commission (“CSRC”), jointly promulgated the Final Measures for Cybersecurity Review (the “Final Measures”). The Final Measures are binding and will become effective on February 15, 2022 ...
The possibility of having, in the short term, a new statute on personal data protection, which updates the current regulation of Law No. 19,628 on the protection of private life, is rather unlikely. Bulletin 11144-07, which modifies said Law, remains at the initial legislative stage in the Chamber of Origin, therefore it is not feasible to foresee the approval of this bill in the medium term. On the other hand, the recent publication of Law No ...
The Finance Bill 2021 has recently been passed in Parliament and gazetted on 31 December 2021 (“FA”). One of the FA amendments, which takes effect from 1 January 2022, is that only income arising from sources outside Malaysia and received in Malaysia by any person who is not tax-resident in Malaysia, would be tax exempt ...
1. Introduction Law 2/2020 of 22 January (the “VideoSurveillance Law”) establishes the legal framework applicable to the authorisation, installation and use of video-surveillance systems for capturing, recording and processing images and sound. The law is based on a fundamental notion: security. There was a need to intervene by legislating on this matter to maintain public safety and to help all entities involved in matters of this nature ...
SyCipLaw’s Tax Department has prepared an international edition of its Tax Issues and Practical Solutions (T.I.P.S.) for the last quarter of 2021. Please read the full text at https://tinyurl.com/SyCipLaw-DecTIPS-Int-Vol4-2 or https://tinyurl.com/SyCipLaw-DecTIPS-Int-Vol4-3. The SyCipLaw T.I.P.S - International Edition covers the top 10 tax issues of 2021: March 2021 1 ...
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 ...
Union budget 2022-2023 Expectations Overview The economy of the resurgent India is expecting a road map with the upcoming Union Budget 2022-23. The Budget speech is likely to pen down new reforms and policies that helps the economy to maintain a sustained growth rate ...
Record number of fines in 2021 At European level, a record number of fines have been issued during 2021 for violating the EU General Data Protection Regulation (GDPR). Since the GDPR entered into force in the EU on 25 May 2018, the supervisory authorities have imposed or notified fines in approx. 900 cases with an accumulated amount of approx. EUR 1.3 billion. As many as 500 of these cases are from 2021 with accumulated fines of as much as EUR 1 ...
Trends IT contracts An increasing number of clients have requested aid in purchasing either cloud service technology or offering cloud services to the market. We have seen a significant shift from on-premise solutions (i.e. local servers on customer premises) to public cloud and multi-tenant cloud solutions. Initially, customers pushed suppliers to offer cloud solutions. Now we see the opposite: suppliers pushing customers (who are not always ready for this) into the cloud ...
With answer to ruling no. 839 of 21 December 2021 (the Ruling 839/2021), the Italian Tax Authorities (ITA) clarify that credit institutions established in the United Kingdom (UK) cannot benefit from the withholding tax exemption on interest and other proceeds from medium-long term loans provided for by Article 26, para. 5-bis, of Presidential Decree no. 600/1973 (the Decree 600/1973). https://www.gop.it/doc_pubblicazioni/935_qrpnmu9tzy_ita ...
[!<CDATA[ Over the past decade, financial technology companies (fintechs) have been on the rise, disrupting all segments of the financial industry. Their innovative technology, swift adaptation to market trends, and ability to create personalized and efficient customer experiences enabled them to reshape the way we look at, use, and provide financial services ...
Prior to the onset of the COVID-19 pandemic, the use of telehealth across Ohio and the United States was steadily increasing. However, out of necessity over the last two years, telehealth has expanded exponentially in order to reduce risks of COVID-19 transmission to practitioners and patients alike. Nearly overnight, the health care community was forced to change the way services were accessed, delivered, and received ...
We have in 2021 seen a remarkable (continued) recovery in the Norwegian financial market. This is also evident from the perspective of our banking and financing team. We have assisted our clients with a considerable number of new financings and refinancings, across most sectors. It has especially been hectic within the shipping, aviation and renewable energy sectors and we have seen a steep increase within acquisition financing ...
On December 19, Gabriel Boric was elected as future President of Chile, and will take office on March 11, 2022. The following is a list of the main tax proposals1 of the recently elected candidate: New income tax regime: a disintegrated income tax regime is proposed for large companies, separating the tax paid at the company level from the one payable by its shareholders when withdrawing profits ...
The core question of the doctor list case was whether online sharing of user reviews of health professionals on the Norwegian website «Legelisten.no» was necessary to ensure the freedom of expression and the public’s need for information. Furthermore, the Supreme Court had to decide whether those interests outweighed the privacy interests of the persons being reviewed ...
Businesses are increasingly relying upon the cloud computing infrastructure for hosting their websites, storing their data, and deploying artificial intelligence. Using a cloud computing service saves businesses the costs associated with purchasing and maintaining their own IT infrastructure, allowing them instead to purchase the services and storage that they need ...
Financial Services Climate risk — progress of Joint Committee on Climate Change In a joint statement, Bank Negara Malaysia (“BNM”) and Securities Commission Malaysia announced on 10 December 2021 the following: the Joint Committee on Climate Change (“JC3”) will issue a Reference Guide on Climate Risk Management and Scenario Analysis, which sets out expectations for financial institutions to integrate climate-related risks considerations in finan
In the guide, Chambers notes: «It’s the leading tech law firm and has now become the leading FinTech law firm,» says an interviewee, who adds: «It’s the only law firm to enhance their FinTech offering consistently.» Our partners Espen Tøndel and Morten Winther defend their individual Band 1 rankings ...
On 25 October 2021, the Thai Cabinet approved in principle the national Electronic Transactions Development Agency’s (“ETDA”) release of its Royal Decree on Supervision of Digital Platform Services Required to be Notified (“DPRD”) under the auspices of the Electronic Transactions Act B.E. 2544 (2001). The Decree requires that the ETDA be notified by business operators intending to provide digital platform services to consumers in Thailand ...
