Former Secretary of Finance Cesar Purisima issued Revenue Regulation ("RR") No. 3-2016 prescribing the policies and guidelines on the adoption of credit, debit, and prepaid cards as an additional mode of payment for internal revenue taxes. Credit, debit, and prepaid cards were made available as an additional mode of payment in order to ease the burden to taxpayers in the payment of their taxes ...
Introduction Prior to the implementation of the Corporate Recovery and Tax Incentives for Enterprises Act (the CREATE Act), the Philippines adhered to the "cross-border doctrine", under which ecozones and freeport zones were considered foreign territories, even if they were situated within the Philippines ...
The Philippines is party to double taxation agreements (DTAs) with 43 countries. These DTAs contain exchange of information (EOI) provisions, which oblige contracting parties to exchange details that are needed to carry out the provisions of the DTAs or the domestic laws that concern the taxes applicable to the DTAs. To this end, the Bureau of Internal Revenue (BIR) consistently develops its EOI programme and has, in the past decade, circulated administrative issuances to facilitate EOI ...
The Department for Business Innovation and Skills has now published its final guidance on the Agency Workers Regulations, which come in to force on 1 October 2011. The final guidance makes the provisions and requirements in relation to pay between assignments clearer especially in relation to annual leave. There has also been a minor change to remove one-off non-contractual bonus payments from the definition of pay ...
The Department for Business Innovation and Skills has now published its final guidance on the Agency Workers Regulations, which come in to force on 1 October 2011. The final guidance makes the provisions and requirements in relation to pay between assignments clearer especially in relation to annual leave. There has also been a minor change to remove one-off non-contractual bonus payments from the definition of pay ...
Witnesses giving evidence before the Commission for Conciliation, Mediation and Arbitration (“CCMA”) should take care when making statements that may expose them to defamation claims. This issue arose in the recent case of Clover SA (Pty) Ltd and Another v Sintwa, in which the High Court heard a damages claim arising from defamatory statements made by a witness while giving evidence before the CCMA ...
The government has confirmed its intention to establish eight new Freeports in Solent, East Midlands Airport, Felixstowe & Harwich, Humber, Liverpool City Region, Plymouth & South Devon, Teesside and Thames. In our latest Freeport bitesize briefing, we look at some of the potential commercial contracts and supply chain opportunities for businesses looking to operate in these Freeports. There are generous customs and taxation benefits within Freeport sites ...
Even if an idea for a new invention only exists in the mind of an employee, that idea belongs to the company…unless the contract of employment clearly states otherwise! The importance of ensuring that contracts of employment cover this area has been brought into sharp focus by a recent case in Texas, where the rules are very similar to those in the UK ...
The Employees’ Compensation Ordinance Cap. 282 is a non-fault based system of compensation. Under this scheme, compulsorily-insured compensation is speedily paid to injured employees or their family members. A blameless employer who has paid the compensation upfront may find consolation in s.25(1)(b) of the Ordinance which confers the employer a right of recovery against the wrongdoer ...
As CIT finalization approaches, we highlight the existing Transfer Pricing compliance requirements for Vietnam taxpayers, under Decrees 132 and 126, and Law No. 38: When does Transfer Pricing (TP) apply? When a Vietnam company or local subsidiary of a foreign company has intra-group transactions (goods, services, loans or royalty transactions) with its related parties ...
During the COVID-19 pandemic, questions about employee health-privacy-related symptoms, testing, and vaccination became prevalent in discussions about the workplace at all levels—from “the water cooler” to national news ...
Due to the public health crisis caused by the Coronavirus, the Mayor's Office of Bogotá issued Decree 093 on March 25, 2020, to modify the dates to pay 2020 Property Tax and Vehicles Tax. The Property Tax for residential and non-residential properties will be due on June 5, 2020 (prior date was April 3rd, 2020) with a 10% discount or shall be paid in full by June 26, 2020 (prior date, June 19th, 2020) ...
As organisations start to rebuild post pandemic, many will be considering the introduction or reintroduction of bonuses to their employees. However, when it comes to payment of bonus to those who have had time away from work, employers need to take care ...
Reprinted with permission of Texas Lawyer
In future, it will be much more difficult for Danish companies to make use of special restrictive covenants in connection with hiring employees. That will be the result if a new bill on restrictive employment covenants is adopted. The bill includes a tightening of the rules on the use of non-competition and non-solicitation clauses whereas non-hire clauses will practically be prohibited.On the face of it, the new rules will provide more flexibility for the employees ...
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 escalation of fierce competition among companies for more cost effective products and services has raised discussions about Social Dumping, a curious combination of a traditional pure economic concept with labour and employment regulation ...
Breaking Tax News - IRS Extends April 15 Payment and Filing Due Date For Gift Taxes Because of COVID-19 Emergency 03/29/2020 Authored by: Jennifer R. Lan,John M. Collins,Jamie L. Carter,J. Mitchell Miller The IRS issued Notice 2020-20 on March 27, 2020, thereby superseding certain provisions of Notice 2020-18 related to filing and paying gift taxes (see our prior coverage here) ...
In IRS Notice 2020-18, the IRS extended the deadline for specified U.S. federal income tax payments and federal income tax returns due April 15, 2020 to July 15, 2020.IRS Notice 2020-18 supersedes IRS Notice 2020-17 which only extended the deadline for specified tax payments (see our prior coverage here). The extension applies to any person with a federal income tax payment and/or federal income tax return due April 15, 2020 ...
On Tuesday, Sept. 24, the U.S. Department of Labor (DOL) released the long-anticipated final rule for overtime exemptions, which alters the salary thresholds for several of the Fair Labor Standards Act (FLSA) exemptions. Under the final rule, the salary threshold levels for the white-collar exemptions and the highly compensated employee exemption were increased, making it more difficult for an employee to be classified as exempt under the FLSA. As a result, an estimated additional 1 ...
The Providing Urgent Maternal Protections for Nursing Mothers Act (“PUMP Act”), enacted by Congress in late December 2022, provides more nursing mothers with reasonable break time to express breast milk after childbirth and requires employers to designate private locations (other than bathrooms) that are free from intrusion and shielded from view for this purpose ...
This is the first in our series of articles in which we will look at how Brexit and the EU-UK trade deal impacts research and development. In July 2020, the Government published its Research and Development Roadmap, which sets out the UK’s ambitious long-term objectives for investment in science and research to deliver economic growth and societal benefits across the UK ...
The UK ceased to be part of the EU customs union at 23:00 GMT on 31 December 2020. The UK is now considered by the EU to be a “third country” and as such VAT treatment of UK pleasure craft in EU waters and EU pleasure craft entering UK waters will be affected. This update seeks to outline the post-Brexit position on the payment of VAT for existing pleasure boat owners in the UK, and for those looking to dip their toes in the water this season ...
In the second session of our latest Brexit Insight: Immigration webinar series, we shared some of our and our clients’ experiences on the new immigration system and changes to right to work document checks, 8 weeks on from the end of free movement for EU workers. We also touched upon the new application process and relevant timescales ...
