The Registrar of Companies (ROC) has introduced an annual government licence fee of €350. The government licence fee for 2011 was payable by 31 December 2011. From 2012 onwards the government licence fee will need to be paid by 30 June of that year.Companies which are dormant and/or do not own any assets are exempt from this licence fee ...
Contents: The Trust: An Efficient Asset Protection Tool? Amendments to the Obligations of Employers Hiring Foreign Workers – One Year Later: Are You Ready for Service Canada’s Verification? Did You Know? Trustee’s Tax Liability THE TRUST: AN EFFICIENT ASSET PROTECTION TOOL? Valérie Boucher [email protected] In the last few years, trusts have been growing in popularity among business people, including as an asset protection mechanism ...
Several of the players which regularly participate in public procurements are aware of the extended right to make an application to the court to have procurement cases reviewed. Almost a year has passed since the Supreme Administrative Court extended the right for suppliers to appeal in procurement cases to encompass a greater range of situations ...
On the 10 May 2012, the Swedish parliament enacted a permanent exemption to the Swedish Public Procurement Act (2007:1091) (“LOU”) for the direct award of contracts to affiliated companies.[1]Parliament also decided to enact an option for municipalities and county councils to delegate the competence to make decisions in relation to public procurement procedures to central purchasing bodies ...
In a previous newsletter (no. 1, April 2012) we described the Swedish government’s proposal on limitation of interest deductions. The bill was circulated for comments, which has now resulted in an amended proposal which, as a whole, follows the initial proposal. The most significant change in the amended bill concerns the reversed general exemption ...
GOVERNMENT PUBLISHED PROPOSAL TO CHANGE THE INSOLVENCY REGIME Insolvency proceedings are currently governed by the Insolvency and Corporate Recovery Code approved by Decree-Law 53/04 of 18 March (referred to here by its Portuguese initials ‘CIRE’). From its entry into force to date, this legislation has been subject to five legislative amendments ...
Geography, History & Economy The country of Belize is located on the Caribbean coast of northern Central America. Bordered to the North by Mexico, South and West by Guatemala and East by the Caribbean Sea, Belize forms part of Central America and the Caribbean ...
Although Cyprus usually tends to be associated with company formation (in an international tax planning context), Cyprus has an efficient trust legislation in force. The latest legal reform of trusts has enhanced the appeal of Cyprus International Trust (CIT) to both professionals and high net-worth individuals.Legislation and Legal Requirements CITs used to be governed by the International Trusts Law of 1992 ...
Under what condition will an offshore trust still fall within your government’s tax net? Offshore trusts may be established and managed in many jurisdictions. In most countries personal taxation is based on residence. The question often asked is what the residency of an offshore trust established by a resident of a certain country is. In the case recently reported in Canada “Fundy settlement, Canada, 2012 SCC 14” (Tim Gestnick – The Globe and Mail Apr ...
No, it is not a nice Mediterranean dish! The Foreign Account Tax Compliance Act (FATCA) is the newest piece of legislation from the US which should ensure and enforce the correct declaration and payment of taxes owed by US tax payers. The bill was passed in March 2010 whereupon the proposed regulations were presented on February 8th, 2012. The act should come into effect through several steps from January 1st, 2013 to January 1st, 2017 when full reporting requirements will be in force ...
The Supreme Court of Poland has held that recognition in Poland of French sauvegarde proceedings, which are covered by the EU’s Insolvency Regulation (1346/2000), is consistent with Polish public policy. The ruling was issued in cases involving a Polish company that sought protection against insolvency in France. The Supreme Court upheld the debtor’s argument that there was no basis for the lower courts in Poland to refuse torecognise the French proceedings ...
With two Congressional Decrees approved in February and March 2012 (“Ley Antievasión II” (Decree 4-2012), and “Ley de Actualización Tribuaria” (Decree 10-2012) respectively), Congress introduces several reforms to the Guatemalan Tax System through extensive amendments to the Tax Code (“Código Tributario”) and other tax laws. The most notorious and substantial reforms affect the VAT Law, the Tobacco Tax Law, the Tax Code, and Income Tax Law ...
We live in a society that is obsessed with appearance, and studies show that many people equate appearance to success. While employers may not be aware of these studies, some are trying to control appearance in the workplace by imposing weight restrictions on job applicants or employees as a condition of employment.Whether these policies are permissible can only be answered with a “maybe ...
Earlier this year, the Inquiry regarding Procurement Services published its opinion "The future for the Procurement Assistance". The Inquiry’s mission is to propose how procurement assistance should be coordinated in order to increase competence, availability, consistency and visibility for procurement market participants ...
On October 1, 2012, changes in Regulation (2003:770) on government authorities’ electronic information exchange enter into force. The changes involve an obligation for a number of government authorities to implement e-commerce, and from May 31, 2013 handle all of their orders for supplies and services electronically. In this article Kristian Pedersen and Ingrid Sandstedt present the new rules ...
While the European Commission’s extensive modernization of the state aid rules proceeds, Sweden will have to wait for a national legislation regarding the application of the European Union’s state aid rules since the legislative process has been delayed. As case law from the Swedish courts show, Swedish administrative courts have to assess state aid cases by applying the Swedish Act on Local Governance ...
To enable a broader and more effective market for re-use of information collected by public sector bodies the EU decided in 2003 to introduce a common set of minimum rules regulating these questions. The rules contain amongst other things a limitation of how high the fee charged for public sector information may be calculated ...
Effective July 1st, 2012, the new revised Swedish legislation on bribery entered into force. The last time this area was more thoroughly revised was in 1977. The previous regulation was criticized for being both inaccessible and outdated. In 2009, the Swedish Government therefore appointed an Inquiry to review the provisions then in force, aiming to create a more modern legislation better adapted to its purpose ...
Overview of the Mining Activity in Portugal: In 2010, there were 56 mines in operation across the country. In the same year, a total volume of 4,664,978 tons of mineral resources was produced and the export volume was of € 735 million[1]. These are impressive data from the Government evidencing a growing sector of activity ...
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 ...
The Federal Attorney-General has released a Discussion Paper seeking comment on whether to introduce laws to make notification of data breaches by government agencies and large private sector entities mandatory in Australia. The Government is calling for submissions by 23 November 2012, asking what the triggers should be and what penalties should apply for failure to comply ...
On October 26, 2012, three resolutions were adopted by the closed session of the 34th International Conference of Data Protection and Privacy Commissioners and have been published on the conference website. Below we provide an overview of these resolutions ...
