On April 11 2013, the Philippine Bureau of Internal Revenue issued Revenue Regulations No 6-2013 (RR 6-2013) amending certain provisions of Revenue Regulations No 6- 2008, which provides for, among other things, therules involving the determination of the fair market value of shares of stock not listed and traded in the local stock exchanges ...
The value-added services (VAS) subsector in Nigeria is projected to generate USD500 million by theend of 2021. The subsector, which is regulated by the Nigerian Communications Commission, requires licences and approval before any intending player can operate or participate thereof. In thisarticle, our Rapheal Irenenexamines the relevant regulations in Nigeria and considers the impact of VAS on the telecommunication sector ...
New regulations are in force that require occupational pension schemes providing defined contribution (DC) benefits to demonstrate value for members or face consolidation. The New Regulations The Occupational Pension Schemes (Administration, Investment, Charges and Governance) (Amendment) Regulations 2021 (the new regulations) came into force on 1 October 2021 ...
The judgment of the Supreme Court of Appeal (“SCA”), which established certain guidelines and principles regarding the claiming of input tax for value added tax (“VAT”) purposes in the Commissioner for South African Revenue Services v De Beers Consolidated Mines Ltd (503/11) (1 June 2012) case may have far-reaching consequences for the private equity and venture capital industry ...
As mentioned in our information bulletin of June 8, on June 7, 2005 the Federal Official Gazette published an “Executive Order to Amend the Value Added Tax Law” which altered the procedure for calculating the crediting of valued added tax by removing operations not taxable ...
We would like to draw your attention to the upcoming valuable updates in Tax legislation. Below we have placed a short overview of the hottest issues already occurred in Russian tax environment and some to be introduced in the nearest future. Respectively, these incentives are proposed either to overcome consequences of the financial crisis, or to realize the next step of the long-term policy of stabilization and modernization of the Russian tax system ...
Comments on the consequences of failure to observe the required form when selling shares in a limited-liability company and the possibility of correcting this defect. The current Commercial Companies Code went into effect in Poland in 2001, stiffening the requirements with respect to the form for transfer of title to shares in a limited-liability company (sp. z o.o ...
December 1, 2023 By: Leah Lively California Business and Professional Code sections 16600 to 16607 already invalidate agreements restricting California employees from pursuing any lawful profession, trade, or business, with limited exceptions mainly in the sale of businesses. Starting January 1, 2024, things are going to get more difficult (and potentially costly) for employers ...
As of June 21, 2022, importers of goods from China and other countries that contain China origin inputs of components or raw materials are subject to the enforcement provisions of the Uyghur Forced Labor Prevention Act (UFLPA). As a result, importers should now perform significant due diligence on all tiers of the supply chain of their imports and update their compliance policies and internal controls to address the risks of forced labor in their supply chains ...
September 1, 2022 By: Nora Sheriff, Gwenneth O’Hara, and Lillian Rafii On August 19, 2022, the California investor-owned utilities filed a joint motion for official notice at the California Public Utilities Commission (CPUC), saying that the recently adopted Inflation Reduction Act of 2022 (HR 5376) is “directly relevant” to the CPUC’s open net energy metering (NEM) proceeding. The CPUC is currently contemplating a revision to its NEM tariff (referred to as NEM 2 ...
The United States Trade Representative (USTR) announced a period for public comment on whether Section 301 product exclusions should be reinstated for certain Chinese-origin goods. The product exclusions eligible for potential reinstatement are the relatively small subset of exclusions for which the USTR had both previously granted an exclusion and an extension of the exclusion ...
The U.S.-China trade dispute escalated yet again as the Office of the U.S. Trade Representative (USTR) announced a fourth round of tariffs of 10 percent on an estimated $300 billion of goods imported from China not already subject to Section 301 tariffs. At the same time, the USTR continues to accept List 3 exclusion requests and is working to complete review of List 1 and List 2 exclusion requests. 1. USTR Announces Section 301 Tariffs on $300B of U.S ...
Last year, United States Patent and Trademark Office (USPTO) Director Andrei Iancu noted that artificial intelligence (AI) has the potential to “fundamentally chang[e]” “the legal concepts of inventor or author.”[i] The USPTO recently had cause to consider this issue. On petition, the USPTO considered whether an applicant can name an AI program as an inventor on a patent application ...
On July 2, 2019, the PTO announced it will implement a rule requiring U.S. counsel for foreign-domiciled trademark applicants and registrants. The new rule is effective August 3, 2019, and applies to all trademark owners with a foreign address. We discussed the rule in ourFebruary Alert. For any new filings after the effective date, licensed U.S. counsel must be designated ...
In the past few weeks, the United States Patent and Trademark Office (USPTO) has issued a number of press releases in connection with the COVID-19 pandemic. Calling the outbreak an “extraordinary situation,” the USPTO has announced that it will be providing additional time for the filing of certain patent and trademark documents and for payments of specific mandatory fees ...
The United States Patent and Trademark Office (USPTO) issued a news brief in connection with a further extension of the relief provided under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The USPTO has offered patent and trademark applicants and owners an additional thirty (30) days in which to file certain documents and pay certain fees, extending the deadline set by the original notices to June 1st ...
In Ass’n For Molecular Pathology v. Myriad Genetics, Inc., the Supreme Court held that "a naturally occurring DNA segment is a product of nature and not patent eligible merely because it has been isolated, but that cDNA is patent eligible because it is not naturally occurring." 133 S. Ct. 1207 (2013). Further, fragments that are "indistinguishable from natural DNA" are not statutory subject matter. Id., 2119 ...
For decades, patent owners who appealed refusal of their sought-after registrations with the United States Patent and Trademark Office (USPTO) were responsible for their own costs, fees and certain expenses incurred by the USPTO (e.g. travel expenses, expert fees and copying), as required by Section 145 of the Patent Act (35 U.S.C §145) ...
Under Dutch corporate law it is possible for the Enterprise Section of the Amsterdam Court of Appeal to order an inquiry into the policies and affairs of a company and to interfere with the internal organization of such legal entity in order to settle corporate disputes between shareholders, the management and supervisory boards and the works council. The present article creates an overview of these legal proceedings. 1 ...
Some experts have described the rise of AI as the next industrial revolution. Generative AI is a powerful tool that can transform how your business operates. However, businesses intending to make use of AI solutions need to understand the benefits and risks of implementing generative AI.1 What is Generative AI? Artificial Intelligence – Generative AI is a branch of AI that uses pre-trained AI models to generate new data including text, images, videos, music, and even computer code ...
Advanced Expert Witness Course II Introduction For many years, Texas courts held that expert (or interested witness) testimony would not support a summary judgment motion or response. See, e.g., Lewisville State Bank v. Blanton, 525 S.W.2d 696 (Tex. 1975) (per curiam); Gibbs v. General Motors Corp., 450 S.W.2d 827, 828-29 (Tex. 1970) ...
Although a trust is a valuable financial, tax and estate planning tool, does it allow one to ?shelter? some assets from the public order rules which apply in the context of family law?What is a trust?A trust is a legal disposition which allows a person to transfer the ownership of one or more of his or her assets to a trust for the trust to administer such assets for the benefit of one or more beneficiaries ...
