Corruption is undoubtedly one of the biggest problems facing civil societies these days. It prevents naturalcompetition in a marketplace and makes goods or services more costly. It has a detrimental effect on themoral, legality and transparency in a society and is an enemy to democratic decision-making. By underminingpredictability in business transactions, corruption makes investments more hazardous and reduces growthand business opportunities ...
1. Interest on Equity and Dividends: the Brazilian Perspective Brazilian companies have two main instruments for remunerating shareholders for the capital invested in companies: dividends and interest on net equity (“Juros sobre o capital própio”, referred to as “IoNE” in this article). Both instruments can be used at the same time, but their tax treatment will depend on the particular characteristics of each case ...
The Scottish Courts: The largest volume of litigation takes place in the Sheriff Courts located throughout Scotland, which are similar to the County Courts in England & Wales in that they typically handle disputes which are relatively straightforward and low value ...
The decision Mrs X v. Rothschild, rendered on 26 September 2012 by the French Cour de cassation1. called into question the practice of asymmetrical jurisdiction clauses, frequently included in international financial contracts ...
Revised EPC regulations: Where commercial premises larger than 500m² are frequently visited by the public and have an EPC, it must now be displayed at the premises. This new requirement was introduced by the Energy Performance of Buildings (England and Wales) Regulations 2012, which came into force on 9 January 2013. They replace all existing regulations on energy performance certificates, display energy certificates and air conditioning inspections ...
In July 2012 the Croatian Parliament abolished the rule that had enabled employees to receive salaries and other benefits as agreed in collective bargaining agreements (CBAs), years after the CBAs had ceased to be in force.For decades companies with a large number of employees, through the CBAs, were establishing a minimum level of employees’ rights, such as vacation bonuses, Christmas bonuses and loyalty bonuses ...
The Finance Bill 2013 makes changes to the rules applying entrepreneurs' relief (ER) to the disposal by an employee or officer of a company, on or after 6 April 2013, of shares meeting the requirements of the enterprise management incentive (EMI) scheme. Details ER enables shareholders of companies to sell their shares at a capital gains tax rate of only 10% for lifetime gains of up to £10m ...
Key principles approved by the Polish Council of Ministers - On 16 October 2012, the Polish Council of Ministers approved key assumptions for the long-awaited shale gas production and taxation legislation. The assumptions, which impact both conventional and unconventional oil and gas production, have in particular, been awaited by the developing shale gas sector and investors interested in joining this brand new market. ...
This is an important year on the taxation front. New rules restrict interest deductions and increase the transfer tax related to the sale of shares in housing and real estate. Additionally, two tax incentives support research and development activities, as well as innovation and growth. Restriction on interest deductionThe Finnish legislature has restricted interest deductions applied in taxation starting in the 2014 taxation year ...
With a law enacted on 17 December 2012, the Finnish parliament moved forward on the longstanding plan to house intellectual property rights disputes in the Market Court. This legislative reform has a significant impact for all companies operating in Finland. The Market Court will start to hear these disputes in the autumn of 2013 ...
Grid Code amended In December of last year, the Serbian Transmission System Operator amended the Grid Code. These amendments did not substantially change the code, but did introduce changes in: - technical conditions for connecting to the grid, including specific conditions for connecting generating units, and - access to the grid. The amendments are published in the Official Gazette of the Republic of Serbia no. 02/12 ...
Yet again, this year has been a busy one for employers, HR teams and their lawyers: employment law changes and decisions from the Courts have kept us all on our toes! Here is a reminder of some of the most significant cases and legal developments of 2012.1. The unfair dismissal qualifying period increased to two years for those employed on or after 6 April 2012. The qualifying period for employees whose employment started before this date remains 12 months.2 ...
The Government has confirmed it plans to increase the lower earnings trigger for automatic pension enrolment from £8,105 to £9,440 from April 2013, keeping the figure in line with the income tax threshold. Only workers with an annual salary above the earnings trigger will have to be automatically enrolled into a workplace pension scheme by their employer ...
On 3 December 2012 Guernsey brought into force its new image rights legislation which allows, for the first time anywhere in the world, for such rights to be registered. Gary Assim, Shoosmiths In essence this law has created a new form of intellectual property right for anyone, anywhere in the world, who is famous, or might be in the future, to protect their image by registering it ...
As we embark upon the season of goodwill, those wishing to embrace the Christmas cheer may wish to consider settlement of an ongoing commercial dispute bringing peace and goodwill to all - besides saving their business time and money in the process.Should you settle? Parties settle disputes for a variety of reasons ...
By a decision of 18 October 2012 the Danish Board of Equal Treatment found that it was okay to dismiss an employee shortly after her return from maternity leave as it was not until that time that the outlook of the organisation had been established. The matter involved an employee who was dismissed shortly after the expiry of her maternity leave. The employee argued that the decision to dismiss her had been made, while she was on maternity leave ...
In two decisions of 18 October 2012 the Danish Board of Equal Treatment found that it is not permitted to use criteria in job advertisements that indicate that the advertisement is targeted at younger applicants. In the first case a 57 year old job applicant had complained that an industry association in a job advertisement had stated that emphasis was placed on the applicants having "a few years' experience or were newly graduates" ...
The question raised in the case was whether a previously concluded agreement on salary cuts could be set aside in the event of the employer's bankruptcy to the effect that an employee could receive salary from the Employees' Guarantee Fund as if no agreement on salary cuts had been entered into between the employer and the employee some months before the employer went bankrupt ...
Although like in most EU countries, there is no specific regulation in France on social media, judges have recently answered very clearly to this question: it depends on the privacy settings made by the employee!French judges make a clear distinction between (i) social media postings that remain private (i.e ...
There has been a further decision considering the effectiveness of arrangements entered into by property owners for the purposes of mitigating the effect of the rates charged on empty properties. In an earlier article on Landlords' relief over empty rates ruling, we commented on the High Court decision of Makro Property Limited v Nuneaton Borough Council concerning the availability of empty rates relief ...
Landlords and tenants have a love/hate relationship with the principle laid down in O'May v City of London Real Property Co Ltd. On renewal under the Landlord and Tenant Act 1954 the terms of the new lease will generally follow the terms of the existing one and the onus is on the party proposing a change to show that it is fair and reasonable ...
According to a recent article by Shoosmiths, the cloud software market generated $22 billion in revenue in 2011, and expects growth to $67.3 billion by 2016 Alongside the benefit of cloud computing, however, lies a lack of transparency for cloud customers, causing legitimate concerns about how they can comply with the Data Protection Act 1998 (DPA) ...
The European Commission recently fined seven international company groups with a total fine of around 1.47 billion EUR for two distinct cartels related to cathode ray tubes (CRT) used in colour television sets and computer monitors. The investigation was initiated after a leniency application by one of the cartel members. The cartel concerned price-fixing, market-sharing, production quotas and prohibited information exchanges ...
The new regulation of the Polish Minister of Economy on electricity and heat generated from renewable sources of energy goes into effect at the beginning of 2013. The new regulation will increase the share of renewables in the production of electricity and heat ...
A Polish company enters into a contract with a German company. Which country’s law will govern the contract? Monika Hartung: To start with, under Art. 3 of the Rome I Regulation (Regulation 593/2008 of 17 June 2008 on the law applicable to contractual obligations), the parties themselves may select the law governing the contract. The previous version of Poland’s Private International Law required the existence of a link, e.g ...
