Law 7/2021 was published on 26 February and it amends the General Tax Law, the Tax Procedure and Process Code, the General Rules on Tax Infringements, and some other legislative acts. The aim of the new law is to strengthen taxpayers' guarantees and to simplify procedures in tax matters ...
The Internal Revenue Service (IRS) has introduced a new, shorter form of the exemption application for Section 501(c)(3) status—the Form 1023-EZ. Previously, most organizations seeking federal income tax exemption under Section 501(c)(3) were required to complete the full 26-page (plus attachments) Form 1023, regardless of their anticipated funding or the complexity of their activities ...
There are a plethora of issues that parties need to work through to make a strategic land project viable; not least, the UK tax system which has a number of potential pitfalls that can materially impact returns. At present, there is no single tax efficient model catered for in UK legislation to enable parties to come together ...
The presence of a small amount of undeclared sesame in a particular product may seem trivial but, for those who are allergic, it can provoke a major reaction. Such was the predicament faced by Pret a Manger in July 2016, following the death of Natasha Ednan-Laperouse that same month due to the undeclared presence of sesame in a Pret baguette ...
Earlier this year, right in a last minute attempt to win undecided voters for one of the political parties, the leaving members of parliament enacted a new tax law. While fundamental changes to the Austrian Tenancy Law had been vividly discussed between the socialist and the conservative parties in recent years, the new law on the abolition of stamp duty falls completely short of what could have been achieved ...
The Québec mining industry is currently at the forefront of discussion, particularly in light of:* the publication of a study on the mineral industry cluster’s contribution to socio‑economic development in Québec, which occurred during the Mining Week (April 26th to May 2nd) organized by, among others, the Québec Mining Association and the Québec Mineral Exploration Association; a copy of this study is available on their website;(1)* the Fraser Institute A
The 2020 appeal season is moving and changing quickly, so be sure to not miss any filing deadlines. The deadline for filing petitions with the Michigan Tax Tribunal is set by statute as May 31. On May 14, 2020, Michigan Governor Gretchen Whitmer issued Executive Order 2020-87 (the “Order”), to extend the deadline to protest 2020 property tax assessments to grant some amount of relief to individuals and businesses amid the coronavirus/COVID-19 crisis ...
Bunge argues that the section 7805(b) limitation on retroactive regulations was meant to apply to all regulations issued after July 30, 1996, regardless of when the underlying statute was enacted. A. Retroactive Treasury Regulations Generally Many legal systems discourage or disallow retroactive laws in various contexts.1 The U.S ...
For the many players in the oil and gas industry awareness of the regime for decommissioning offshore installations is increasingly important. Decommissioning is fundamental to petroleum operations and needs to be considered early, due to the various complexities involved. Many offshore installations in the North Sea have been operational well beyond their expected 25 year lifespan and are now up for decommissioning, although the recent high oil price granted a temporary postponement ...
We invite you to read our news alert about the State of Catastrophe declared by the Chilean government and the economic measures announced today by the country's Ministry of Finance to face the covid-19 pandemic. A) State of Catastrophe is declared in Chile: Below, please find a summary of the main consequences of the “State of Catastrophe” decreed by H.E. the President of the Republic of Chile: I. Background. On 18 March 2020, H.E ...
The Premier of the State Council Li Keqiang chaired an executive meeting on 7 April 2020 which decided to adopt a series of tax related measures to cope with the negative impact caused by the COVID-19 pandemic and to stabilise the domestic economic environment. The measures mainly include the following: 1 ...
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 ...
Introductory note The State Budget Law for 2021, which was published on 31 December 2020, comes at a very difficult time that is one of great uncertainty for the State and for the country. It is clear from the outset that the changes to the tax laws are limited in scope and the focus is on issues considered essential and a priority. For example, there are absolutely no amendments to the laws regulating taxpayers’ guarantees or tax justice ...
As leases are negotiated, permits are filed and shales are fractured across America, energy companies encounter the public. Some of these interactions are direct, while others are through the actions of a contracted service provider or partner. Still, the vast majority of first impressions will be presented to the public through the lens of the media, whether traditional or social ...
You can’t open up the paper these days without news of declining oil prices and fears of uncertainty for the oil and gas industry. As part of Haynes and Boone’s alert series on this topic, we continue our review, this time focusing on the contango spread and how market participants are responding. It seems like there is a sprint taking place to lock in the benefits of the current contango spread ...
Please note the following press release. This press release is available at our homepage. Speed and innovation earn top rating: WirtschaftsWoche bestows the Best of Legal Award on Heuking The Best of Legal Award was presented to Heuking Kühn Lüer Wojtek by WirtschaftsWoche magazine in recognition of its public procurement law counsel to Niedersachsen Ports GmbH & Co. KG on the construction of a temporary LNG import infrastructure to prevent a gas shortage ...
At the beginning of astartup’slife,the use of financial resources in the most efficient way is of vital importance.It is for this reasonthatthe incentives that a country can provide to an entrepreneurand hisnewlyformed company can potentially determine how and how much that company willgrow ...
Dinsmore partner Kelvin Lawrence was published in Bloomberg Tax with his article "Special Commentary: State Tax Treatment of Investment Partnerships." Read an excerpt below. The Multistate Tax Commission has undertaken an ambitious project on the state taxation of partnerships. Their partnership work group consists of volunteers from numerous state revenue departments, with the able assistance of MTC Counsel Helen Hecht and Chris Barber ...
Ekachai Chotpitayasunon, Pariyapol Kamolsilp, and Kongkoch Yongsavasdikul, partners of Kudun and Partners together with senior associates; Kongwat Akaramanee and Supatra Kerinsaguna, were invited to speak at a seminar organized by the Association of Family Business Entrepreneurs (AFBE) under the topic “Holding & Tax Management – Game Plan for Family Business Sustainability” ...
After becoming the object of several infringement procedures conducted by the European Commission, Spain has been forced to amend several non-resident income tax provisions to ensure those provisions comply with the principles enshrined in the Treaty on the Functioning of the European Union ...
On 19 July 2017, the South African National Treasury released the 2017 Draft Taxation Laws Amendment Bill (“draft TLAB”) for public comment. One of the proposals contained in the draft TLAB is the deletion of the exemption for foreign employment income contained in section 10(1)(o)(ii) of the Income Tax Act, 1962 with effect from 1 March 2019 ...
Earlier this year, the Minister of Mineral Resources (the “minister”) published a notice amending Chapter 4 of the regulations relating to explosives, binding in terms of the Mine Health and Safety Act, 1996. The regulations will come into effect at the end of the 2018 year ...
The first draft Taxation Laws Amendment Bill, 2017 (the “2017 TLAB”) was released on 19 July 2017 for public comment (due by 18 August 2017).Among other things, it is proposed that the current section 22B of the Income Tax Act, 1962 (the “Act”) and paragraph 43A of the Eight Schedule to the Act, be substituted with a new section 22B and paragraph 43A ...
The Crypto Assets Regulatory Working Group (“CAR WG”) of the Intergovernmental Fintech Working Group (“IFWG”) has released its long-anticipated position paper on crypto assets. The position paper proposes that a clear regulatory policy for crypto assets be adopted in South Africa. However, it is still recommend that crypto assets not be regarded as legal tender or public money ...
