Commercial landlords and tenants have less than five months to go until the first major change comes into force following the government implementing the Minimum Energy Efficiency Standards (MEES) in 2018. Currently, a commercial landlord cannot grant a new lease of a property that has an energy performance rating of less than E - unless an exemption applies ...
The Ministry of Finance of the Lao PDR has issued the Notification on the Implementation of the Tax Obligations of the E-Commerce and Digital Platform No. 0541/MOF, 24 February 2022 with the purpose to disseminate the Decree on Electronic Commerce No. 296/Gov, 12 April 2021 and the implementation of the tax obligations of the e-commerce and digital platform business operators in the Lao PDR. 1 ...
Lao PDR is following the regional trend of taxing the activities of non-resident E-Commerce and digital platform service providers. In this client update, we provide the key features and our commentary on the Ministry of Finance’s Notification on the Implementation of the Tax Obligations of the E-Commerce and Digital Platform No. 0541/MOF, dated 24 February 2022 (“the Notification”) ...
The Supreme Court has ruled in a landmark case that the Tax Appeals Tribunal (“TAT”) has original jurisdiction to hear tax disputes, and the High Court only has appellate jurisdiction. Until now, the long-established position was that the High Court and the TAT had concurrent jurisdiction and a litigant had discretion to lodge an application with the TAT or file the dispute in the High Court. In Uganda Revenue Authority v Rabbo Enterprises (U) Ltd and Mt ...
Last month the Scottish Government published “Land Reform in a Net Zero Nation”, a consultation paper on a new Land Reform Bill. The paper sets out the proposals for the bill and seeks views on various related issues, including measures aimed at “large-scale holdings”, changes to subsidies, the introduction of a new type of agricultural tenancy, and transparency of land ownership ...
Kudun and Partners represented S Global Limited, a subsidiary of Sermsang Power Corporation PLC ...
The proposal for the temporary Windfall Tax Act for enterprises operating in the electricity and fossil fuel sectors was approved by the Finnish Parliament on 27 February 2023 in an amended form. An overview of the Government's proposal can be found in our previous article on the subject. The Windfall Tax Act will be applied retroactively to the tax assessment of tax year 2023 ...
The Finnish Government has published a proposal for the temporary Windfall Tax Act in Finland, the draft of which was briefly discussed in our previous article on the subject. The proposed temporary windfall tax would be applicable to so-called windfall profits gained during tax year 2023 by companies operating in the electricity or the fossil fuel sector. The aim of the proposal is to tax said sectors' increased profits resulting from the current energy crisis ...
The EU revenue cap which limits certain electricity generators' revenues has raised many questions within the energy sector. In Finland, the revenue cap will likely be implemented in the form of a temporary windfall tax which would apply to profits made in 2023. Our energy team's associate Nelli Rönkkö has summarised the key points regarding the implementation of the EU revenue cap in Finland ...
This tax newsletter summarises the recent ruling of CESTAT, Chennai in the case of Commissioner of Service Tax, Chennai vs M/ Repco Home Finance Limited on non - applicability of Service tax on loan foreclosure charges ...
1. Changes in rules relating to determination of ‘residence’ in IndiaThe scope of income of a person liable to tax in India depends upon his residential status in a particular financial year. Indian Income Tax Act 1961 (the Act) recognizes three statuses, namely, Resident and Ordinarily resident’ (ROR), ‘Resident but not ordinarily resident’ (RNOR), and Non-resident (NR) ...
Union Budget 2020- Changes in provisions relating to Educational Institutions, Hospitals, Trusts, etc. engaged in Public Charitable or Research activities Current Position:Currently, the income of public charitable trusts and not-for-profit organisations, engaged in public charitable activities and registered with Income Tax department under Sections 12A or 12AA of the Income Tax Act, 1961 (the Act), is exempt if the same is applied to the objects of the trust or accumulated for doing so ...
The Finance Minister Smt. Nirmala Sitharaman envisages a holistic vision of healthcare that translates into wellness of the citizen ...
The Government of India has recently issued several clarifications under both Customs as well as Goods and Services Tax (GST) Laws ...
The Department of Agriculture (USDA) announced in late February that it's delaying enforcement of certain requirements set forth in its Interim Final Rule (IFR) on the Domestic Hemp Production Program (84 FR 58522) under certain circumstances until October 31, 2021, or until publication of the final rule on such hemp production program, whichever occurs first ...
On Oct. 31, 2019, the United States Department of Agriculture (USDA) published its highly anticipated interim final rules, establishing the USDA Domestic Hemp Production Program to be administered by the Agricultural Marketing Service (AMS) ...
Monday, May 29, 2023, marked the official end of the 88th regular session of the Texas Legislature. It was an especially active session for the energy industry, which saw the passage of several bills that, if signed into law by Gov. Greg Abbott, will have significant and long-term impacts on the oil and gas, renewable energy and power sectors in Texas ...
We would like to share with you a Power and Energy-related update to PDP VIII as below: Per the Prime Minister’s instruction at Official Letter No. 182/LDCP dated 10 June 2022 on Power Development Plan (“PDP”) VIII, the Vice Prime Minister Le Van Thanh’s directives in June 2022, the Ministry of Industry and Trade (“MOIT”) has just reported to the Prime Minister under its Official Letter No ...
On Jan. 1, 2023, comprehensive tax legislation will take effect in Kentucky, potentially reducing Kentucky’s personal income tax in an effort to promote economic growth. To offset revenue losses, the legislation broadens the sales and use tax base and imposes new taxes and fees on electric vehicles, ride sharing and car rental services. In the near term, businesses must consider whether they must now collect and remit taxes and the effect of these new taxes on existing contracts ...
With most of the country working from home, many are wondering how to get their documents notarized. Thankfully, several states, including Texas, have authorized online notarization ceremonies. Under the new telecommunications statutes, individuals can have documents notarized from a healthy distance. Historically, Texas required both in-person notarization and the filing of the original notarized document, which precluded any possibility of a telecommuting notary ...
Following the creation of the regulatory framework and the successful passing of required tests, the first organised electricity market in Serbia, ("SEEPEX"), has officially launched its operations on 17 February, 2016. This power exchange operator was set up jointly by Elektromreže Srbije, the Serbian state-owned power system, and the European Power Exchange (EPEX SPOT SE) ...
The U.S. Supreme Court recently released its opinion inNorth Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust, largely vindicating the understanding of most estate planners: A state cannot tax the income of a trust where the only connection to the state is the presence of the trust’s discretionary beneficiary. Facts inKaestner The facts inKaestner, in brief, are as follows ...
The Government of India has recently issued several clarifications under both Customs as well as Goods and Services Tax (GST) Laws ...
"Leave this to me, I'm British… I know how to queue."{1} The Energy Services Operator (ESO) recently published a consultation which sets out a vision of medium-term reform for connections to (or affecting) the Transmission Network, whether they are directly connected or embedded ...
