In re: Signal Mountain Cement Company – Assessment Appeals Commission Upholds Assessor’s Use of “Value in Use” Methodology for Standard Valuation of Tangible Personal Property in Tennessee but Affirms Taxpayer Use of “Fair Market Value in Exchange” Methodology in Nonstandard Valuations ...
After all of the sand had run out of the hourglass, Congress finally passed (and the President signed) a compromise tax bill to avoid very substantial income tax increases on taxpayers with income under $400,000 ($450,000 for joint filers). The good news for our estate planning clients is the “permanent” extension of the current estate, gift, and generation-skipping transfer tax exemptions, and a slight increase in the tax rate from 35% to 40% ...
Although only tangentially related to oil and gas operations, the recent pipeline rupture and resulting fire near Charleston, West Virginia highlights the importance of safety inspections and the costs incurred when accidents occur ...
This is an important year on the taxation front. New rules restrict interest deductions and increase the transfer tax related to the sale of shares in housing and real estate. Additionally, two tax incentives support research and development activities, as well as innovation and growth. Restriction on interest deductionThe Finnish legislature has restricted interest deductions applied in taxation starting in the 2014 taxation year ...
The so-named “American Taxpayer Relief Act,” now signed by the President after having been passed in the wee hours by the Senate on January 1, 2013, and later that day by the House, may pull the country back from a self-created fiscal/political ditch, but leaves the country at the edge of a fiscal cliff with spending cut issues, debt ceiling issues and undoubtedly more tax issues to be dealt with before March 1, 2013. Overview ...
Yet again, this year has been a busy one for employers, HR teams and their lawyers: employment law changes and decisions from the Courts have kept us all on our toes! Here is a reminder of some of the most significant cases and legal developments of 2012.1. The unfair dismissal qualifying period increased to two years for those employed on or after 6 April 2012. The qualifying period for employees whose employment started before this date remains 12 months.2 ...
The Government has confirmed it plans to increase the lower earnings trigger for automatic pension enrolment from £8,105 to £9,440 from April 2013, keeping the figure in line with the income tax threshold. Only workers with an annual salary above the earnings trigger will have to be automatically enrolled into a workplace pension scheme by their employer ...
The 2013 Federal Revenue Law was published yesterday and its Transitional Article 3 includes an amnesty covering payment of federal taxes and related government charges, as follows: a) 80% forgiveness of tax assessment consisting of federal taxes, antidumping duties, and fines for failure to comply with federal tax obligations, other than payment obligations, arising prior to January 1, 2007 ...
French at work, at school and in the Civil Administration - Protection and bolstering of the official language. The title of this newsletter gives a good summary of the explanatory notes that serve as an introduction to Bill 14, entitled "An Act to Amend the Charter of the French Language, the Charter of Human Rights and Freedoms and other Legislative Provisions" ("The Bill"). The Legislature is concerned that English is being used systematically in certain workplaces ...
By a decision of 18 October 2012 the Danish Board of Equal Treatment found that it was okay to dismiss an employee shortly after her return from maternity leave as it was not until that time that the outlook of the organisation had been established. The matter involved an employee who was dismissed shortly after the expiry of her maternity leave. The employee argued that the decision to dismiss her had been made, while she was on maternity leave ...
In two decisions of 18 October 2012 the Danish Board of Equal Treatment found that it is not permitted to use criteria in job advertisements that indicate that the advertisement is targeted at younger applicants. In the first case a 57 year old job applicant had complained that an industry association in a job advertisement had stated that emphasis was placed on the applicants having "a few years' experience or were newly graduates" ...
The question raised in the case was whether a previously concluded agreement on salary cuts could be set aside in the event of the employer's bankruptcy to the effect that an employee could receive salary from the Employees' Guarantee Fund as if no agreement on salary cuts had been entered into between the employer and the employee some months before the employer went bankrupt ...
Although like in most EU countries, there is no specific regulation in France on social media, judges have recently answered very clearly to this question: it depends on the privacy settings made by the employee!French judges make a clear distinction between (i) social media postings that remain private (i.e ...
On November 30, 2012, the long-awaited amendments to the Mexican federal labor law were published in the Official Gazette of the Federation (Diario Oficial de la Federación). The primary purpose of this set of reforms is to promote job creation and to attempt to regularize labor relationships that arise informally ...
You are general counsel of a publicly traded medical device company that has begun the diligence process on your company’s target, a publicly held x-ray and CT scan component manufacturer. The target is a Delaware corporation based in California, with additional manufacturing facilities in Utah and Kentucky; within the past three years, it has sold two mothballed manufacturing facilities ...
The Quebec Court of Appeal rendered an important decision on the legality of termination of employment for some 190 employees of the Wal-Mart store in Jonquière. In the context of several proceedings which were filed to obtain compensation for those job losses, the United Food and Commercial Workers, local 503 (hereinafter the "Union") argued that the store's closure in April 2005 was contrary to section 59 of the Labour Code (hereinafter the "L.C.") ...
Since the adoption of Bill C-451 amending certain provisions of the Criminal Code in march of 2004,2 employers have had to take on increased responsibility in the area of occupational health and safety. Indeed, the effect of sections 22.1 and 217.1 of the Criminal Code is to facilitate the laying of criminal negligence charges in cases involving the health and safety of workers. Section 217 ...
The IRS plans to begin recurring market segment examination of tax-exempt bonds, including the hospital market, according to statements made by Bob Griffo, Supervisory Tax Law Specialist with the Internal Revenue Service (IRS), at a recent National Association of Bond Lawyers conference. For the first year of the program, the IRS plans to examine between 20 to 40 tax-exempt hospitals ...
According to the provisions of Law 18,131, as of December 31 of each year, all taxpayers should compare the contributions actually made to the National Health Fund ( hereinafter "FONASA" ) with the annual cap filler ( hereinafter "STOP ANNUAL " ) ...
On Wednesday, October 3rd., it was published in the Official Gazette the provisional suspension issued by the Constitutional Court of Section 180, 4., of Decree 10-2012 which abrogated the withholding exemption contained in Section 12 of Decree 80-2000 ...
Temporary Suspension of the Definition of Pension Plans (employees' deductible expenses) as those approved by the “Corresponding Authority” Provisional Suspension of mandatory use of Banking System to evidence Payments and Disbursements of Expenses Higher than Q.30,000.00 In the past, the Tax Administration questioned on a case by case basis Pension Plans administered by private Banks, as employees´ deductible expense ...
Article 63 of Government Regulation Number 74 of 2011 on The Procedures for Exercising Tax Rights and Fulfilling Tax Obligations (“Regulation 74/2011”) mandates the promulgation of a Minister of Finance (MOF) Regulation on the suspension of a tax crime investigation ...
On Monday October 29, 2012 the B.C. Property Assessment Appeal Board released an important decision reducing the assessed value for property tax of the upland land and improvements at the Horseshoe Bay Ferry Terminal to a nominal value ...
The Supreme Court of Canada decision in R v Cole, 2012 SCC 53 may have a significant impact on how employers manage the use of digital devices in the workplace. While a constitutional and criminal decision at its core, the case nevertheless recognizes the importance of employees’ reasonable expectation of privacy when using work computers and other digital devices. In Cole, the accused was a high school teacher who was issued a laptop computer by his employer ...
