The new Income Tax Law is Law No. 36 of 2008. It intends to boost the competitiveness of Indonesia's economy and create a favorable investment climate. Under the new law, income tax for corporations will be 28% flat in 2009, replacing the existing progressive system. The rate will be further reduced to 25% in 2010 ...
The Supreme Court of Canada ended a lengthy legal saga on November 20th, 2008 when it ordered St.Lawrence Cement Inc. to compensate residents of Beauport living near its cement plant. Comments on prescription, the assessment of damages and the granting of future damages. The Supreme Court's decision was expected and will have a major impact. Indeed, this decision imposes a burden that will be almost impossible for businesses to meet ...
Contents Acquisition of control of a corporation… Unexpected tax consequences The corporate veil again! Resigning as a director: It’s not merely a formality! Don’t forget the deemed year-end! Acquisition of control of a corporation… Unexpected tax consequences By Philippe Asselin [email protected] ...
Commercial disputes in the United Arab Emirates (UAE) are generally resolved through litigation in the courts or arbitration. Arbitration is becoming an increasingly popular way to resolve disputes. The UAE recently signed the UN Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 (New York Convention). General overview and court structure The UAE is a federation of seven Emirates established in 1971 ...
As the economic outlook continues to look gloomy we are noticing a considerable increase in employment litigation work - this doesn't just point towards more people being dismissed (although this is certainly a factor) but also that as money gets tighter individuals feel they have nothing to lose and everything to gain by bringing claims. For employers this is obviously a headache ...
The 2009 State Budget Bill was presented to Parliament on 15 October. The general discussion and voting on the Bill are scheduled for 5, 6 and 7 November while the special discussion and voting and final overall discussion and voting are scheduled for the 27th and 28th of the same month ...
The Minister of Law and Human Rights issued Regulation No. 03.HT.03.10 of 2007 on 8 November 2007. Under Law No ...
This legal update follows our September 2008 issue which gave a general overview of the major changes to the High Court and District Court Rules to come into effect on 2 April 2009. This and subsequent issues deal with those changes in more detail. This issue deals with the new "underlying objectives" and active case management by the court ...
On 3 April 2008, the Supreme Administrative Court announced a decision in a case which has given rise to strong reactions among tax law specialists. The criticism has been harsh and concerns the Supreme Administrative Court’s decision to give the Swedish CFC-rules precedence over the Swedish-Swiss tax treaty ...
Ahead of the autumn finance bill, the government has stated that SEK 30 billion will be designated for reforms in the labour market and enterprise, welfare and investments for the future. 13 of these 30 billion are earmarked for an “enterprise package” which, inter alia, includes a reduction in corporate tax from 28 percent to 26.3 percent ...
The Civil Justice Reforms will come into effect on 2 April 2009. The new court rules aim to improve cost-effectiveness and reduce complexity and delays in court proceedings. The purpose of this bulletin is to briefly highlight some of the majorchanges to the High Court and District Court Rules, which will come into effect on 2 April 2009. Subsequent bulletins will deal with these topics in more detail.1 ...
The business world is in continuous evolution. In order to remain competitive, a professional must be aware of the developments that may affect or influence his or her practice. It is in this spirit that we have created “RATIO”, a quarterly legal information publication intended to support you in the achievement of your professional goals. The name of this publication is a term employed in both the legal and accounting professions ...
Decision-making in the planning process continues to be a complex issue. The process has been regularly challenged in the Scottish Courts through statutory appeals and judicial review, and for many years in Scotland there was a very low success rate for parties bringing such proceedings. Courts implied that they did not want to be used as a further appeal mechanism ...
Commercial disputes in the United Arab Emirates (UAE) are generally resolved through litigation in the courts or arbitration. Arbitration is becoming an increasingly popular way to resolve disputes. The UAE recently signed the UN Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 (New York Convention). General overview and court structure The UAE is a federation of seven Emirates established in 1971 ...
1. This paper will address of a number of issues with respect to the pollution exclusion clauses commonly contained in Commercial General Liability (“CGL”) insurance policies. In particular, this paper considers how Canadian courts have interpreted and applied the standard wording of pollution exclusion clauses, and whether the decision of the Ontario Court of Appeal in Zurich Insurance Co. v. 686234 Ontario Ltd ...
1. The recently published Decree-Law 55/2008 of 26 March has set out the regulatory provisions necessary for implementing incentive measures for the speedier recovery of areas in Portugal that suffer most from typical inland regional problems, as provided for in the Tax Benefits Statute (EBF) ...
For the first time, the Court of Appeal has rendered a decision on a class action instituted under the Competition Act. A unanimous decision in favour of our client, Toyota Canada Inc. and 37 of its dealers in the Montreal region, was handed down on February 26, 2008 ...
Several major changes to the PRC’s Tax Law have come into effect since 1 January 2008. These include the unification of the income tax treatment of all enterprises (foreign and domestic as well as joint-venture companies), resumption of the previous 20 % withholding tax on outgoing dividends to be paid by foreign investment companies to their foreign parent companies, lower effective income tax rates and introduction of the concept of “resident enterprises” ...
ARGENTINE TAX SYSTEMPOLITICAL CONFIGURATIONThe Republic of Argentina has three levels of Government (Jurisdictions): Nation, Provinces and Municipalities.The government system of the Nation and the Provinces has three powers: The Executive that deals with the Administration, the Legislative in charge of passing the Laws, and the Judiciary responsible for the Administration of Justice ...
U.S. Court of Appeals for the District of Columbia Circuit Finds that Student Who Was Abused Multiple Times by Fellow Students Was Entitled to Multiple Per-Claim Limits Because Each Assault Was a Separate “Claim”.In Essex Insurance Co. v. Doe, No. 06-7163, 2008 U.S. App. LEXIS 94 (D.C. Cir. Jan ...
1. The long-awaited duty requiring users or promoters of operations and transactions whose sole or principal objective is to obtain tax benefits to communicate such operations or transactions to the tax authorities has finally become law in Decree-Law 29/2008 of 25 February. 2. Due to its excessively wide nature, however, the new antiabuse measure raises some very serious doubts ...
Several legislative instruments on VAT issues were published in the Official Journal of the European Union on 20 February, amending the rules for determining the place where services are supplied for the purposes of VAT: - the general rule will be reversed and services will now be taxed in the place of consumption as opposed to where the supplier has its establishment ...
