The electronic commerce industry is expected to expand by five to seven percent in the coming years while the streaming services business is also expected to exponentially grow, with more and more Filipinos opting to do their transactions online, as well as accessing Internet-based content and entertainment. Philippine authorities are inevitably focusing their regulatory gaze on these enterprises. A ...
As a consequence of the spread of COVID-19, certain protection and prevention measures have been developed in order to safeguard health in the different sectors that are operational. In this report we will share security measures implemented in Venezuela aimed at protecting the health of operators and personnel working in ports and at sea, as well as some recommendations established by international organizations. 1 ...
The functioning of the World Wide Web is in many ways dependent on the use of hyperlinks. Many of those hyperlinks refer to works protected by copyright. In his recent Opinion, Advocate General Szpunar has considered which kinds of hyperlinks should be regarded as a communication to the public that require the copyright holder’s prior authorisation ...
What Happened: The US warns victims of ransomware and companies facilitating ransomware payments of potential Office of Foreign Assets Control (“OFAC”) violations in light of rising ransomware attacks. The Bottom Line: Individuals and companies risk potential civil penalties based on strict liability if a ransomware payment involves a person or entity on OFAC’s Specially Designated Nationals and Blocked Persons List (“SDN List”) ...
The COVID-19 pandemic has been not only causing major social upheaval but disrupting business development and the economy as well. Nevertheless, since last March, we have seen many developments and new projects involving self-driving vehicles (SDV). Here is an overview ...
Part 2 of this series is about data protection. In case of questions, please contact Zoltán Balázs Kovács. How do you secure data in the home office environment? What policies should be in place to secure data and devices? What does a data breach mean? Employers must comply with the principle of accountability and demonstrate compliance (including by way of applying proper internal policies). This is important also from the perspective of data security ...
A case note by Abhilaash Subramaniam Introduction In the recent case of SWW v Ketua Pengarah Hasil Dalam Negeri, the High Court of Malaya granted the taxpayer leave to apply for judicial review, a stay of proceedings pending the disposal of the taxpayer’s application for judicial review and subsequently allowed the taxpayer’s judicial review application on the merits, ordering a prohibition on all collection and enforcement action relating to disputed taxes and assessments
An app that has captivated Generation Z with the ability to create and share videos has been dragged into the US-China power struggle, becoming its latest flashpoint. The current social media darling, TikTok, boasts 800 million active users. Reports value it at up to US$50 billion (S$68.4 billion). Considering that its Beijing-based app maker launched it worldwide only two years ago, that represents huge growth ...
Income Tax The Income tax The Income Tax (Special Treatment for Interest on Loan) Regulations 2020 have been gazetted on 25 August 2020 and shall have effect for the year of assessment 2020 and subsequent years of assessment ...
THE POSITION BEFORE THE SEC STATEMENT The Security and Exchange Commission of Nigeria (the “SEC” or the “Commission”) on 14 September 2020, released their Statement on Digital Assets and their Classification and Treatment (the “Statement”) pursuant to the powers conferred on it by the Investment and Securities Act 2007[1](“ISA”) ...
In a major win for sellers of services and intangibles, the Ohio Supreme Court ruled on Sept. 29, 2020, that a taxpayer is entitled to Ohio Commercial Activity Tax (CAT) refunds stemming from its sale of contracts to an out-of-state buyer ...
A recent Ministerial Order1 from the Minister of National Revenue has formally extended certain deadlines under the Income Tax Act (“ITA”) and the Excise Tax Act (“ETA”). The Order is retroactive to March 13, 2020. The extension is 6 months or until December 31, 2020, whichever is earlier. This Ministerial Order will have various implications for taxpayers and registrants, in particular in terms of limitation periods ...
SyCipLaw TIP 1: Based on reports, the BIR is considering applying a minimum threshold on who will be required to submit BIR Form No. 1709. The threshold may be based on the assets or revenue of the entity or the size of the transaction, or both. However, until the BIR issues the relevant circular, a taxpayer entering into transactions with related parties must ensure that it complies with the requirements under RR 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
DataSecurityLaw.com is the firm’s resource for the latest news, analysis, and thought leadership in the critical area of privacy and cybersecurity law. Patterson Belknap’s Privacy and Data Security practice provides public and private enterprises, their leadership teams and boards with comprehensive services in this critical area ...
Part 1 of this series discusses labour law and labour safety issues. What is it that has changed regarding home office and teleworking because of Covid-19? What can we expect in the future? How can employers prepare for the “new normal” and how can employees manage things from their side? Before Covid-19, teleworking and working from home in Hungary represented a percentage of 1.2 among employees aged between 15-64, according to Eurostat ...
We would like to take this opportunity to remind our readers that the immovable property tax (“TOIP“) and Unused Land Tax deadline for 2020 is next Wednesday the 30th of September 2020. The 2020 TOIP and Unused Land Tax payment can be made at any tax branch or any branch of Canadia, Acleda, Vattanac or Cambodia Public Bank. Those already registered for TOIP and Unused Land Tax need to provide their 2019 tax payment receipt or Property Tax Registration Identification Card ...
In recent months, a number of changes to the Russian tax legislation, implying long-term effects for both Russian taxpayers and foreign investors, are taking place. Amendments to the Double Tax Treaties ('DTTs') are among of the most important ones. Below, we provide our consolidated analysis of the forthcoming changes and recommendations on steps to prepare for them ...
The Tax Court of Canada (the “Court”) recently upheld the deductibility of carrying charges incurred in connection with an issuance of shares. In so doing, the court upheld the tax benefits arising from a common financing practice. In addition, the Court reiterated the principle in tax matters according to which, save in exceptional cases, the legal relationships established by one or more taxpayers must be respected ...
Key Points Governor Newsom signed a new law establishing Brown Act rules for social media communications. Members of a legislative body may communicate on social media without fear of creating a serial meeting in violation of the Brown Act. Members of a legislative body may not respond directly on social media to other members of the same legislative body. On Sept.18, 2020, Governor Newson signed Assembly Bill (AB) 992 into law ...
Complementary Law No. 175/2020, enacted in September 23, 2020, determined that the Service Tax (ISS) must be shared between the municipalities where the service providers and the clients are located. Complementary Law No. 175/2020, enacted in September 23, 2020, determined that the Service Tax (ISS) must be shared between the municipalities where the service providers and the clients are located ...
On September 6th, 2020, “Rules for the Consideration and Resolution of Administrative Disputes by the Federal Service for Intellectual Property”, approved by the order of the Russian Ministry of Education and Science and the Ministry of Economic Development (“Rules”) came into force. The Rules were developed jointly with the Federal Service for Intellectual Property (Rospatent) ...
Cybersecurity will generally be a significant issue for businesses in the years to come. With teleworking, cloud computing and the advent of artificial intelligence, large amounts of data are likely to fall prey to hackers attracted by the personal information or trade secrets contained therein. From a legal standpoint, businesses have a duty to take reasonable steps to protect the personal information they hold ...
DIFC entities have until 1 October 2020 to ensure that their data processing activities are compliant with the new Data Protection Law (DIFC Law 5 of 2020) (the DP Law). Who is subject to the DP Law? • DIFC entities.• Non-DIFC entities that regularly engage with DIFC entities as part of a “stable arrangement”, which involve data being processed in the DIFC and/or transferred out of the DIFC. Practical Guidance 1. Maintain a record of Personal Data. 2 ...
On Saturday, September 12, 2020, the Internal Revenue Service (“IRS”) updated a marijuana industry frequently asked questions (“FAQ”) page that provides relief to state-legal cannabis businesses. The FAQ announces that state-legal cannabis businesses can reduce their gross receipts by using an alternative accounting method under Section 471 of the Internal Revenue Code (the “Code”) ...
