Pension reform 1. New retirement age in Russia Starting from January 1, 2019, the retirement age willincrease by one year during each year of the transition period, until the retirement age reaches 65 for men and 60 for women. The Law stipulates that men who reached 60 years old and have had 42 years of work experience, and women aged 55 years old and have had 37 years of work experience are entitled to retire earlier — 24 months prior to reaching standardretirement age ...
The 2020 election in California as pertains to national politics was never in doubt, but despite being a deeply blue state, Californians continued to show their divide on taxing businesses and making major changes to the statewide tax code. Several ballot initiatives, both at the state and municipal level, would have radically altered how businesses and executives are taxed ...
In a slightly surprising, but nevertheless welcome, South African 2020 Budget Speech today, the Honourable Minister of Finance announced that there would be no significant tax increases to the major taxes for the forthcoming tax year. Widely anticipated increases to value-added tax (“VAT”), income tax, capital gains tax and estate duty did not materialise ...
The 2021 tax assessment of real and personal property will be determined by local Assessors in February, at which time a Notice of Assessment will be issued and mailed to property owners. Property owners should make sure to check the mail for a copy of the Notice in order to determine whether an appeal of their taxable value should be filed ...
After what can only be described as a difficult year (an annus horribilis!) for employers and employees alike, we turn our attention to 2021 and look at some of the more significant legislative changes coming into force this year. Furlough continues The Coronavirus Job Retention Scheme has been extended until 30 April 2021 ...
There were big changes in 2020 in the world of restructuring and insolvency legislation with the introduction of two new restructuring tools: the Moratorium and the Restructuring Plan, as well as the reintroduction of Crown preference. However, due to the government-imposed moratorium while the pandemic runs its course, we have seen hardly any real effects of those reforms ...
On Friday, May 30, 2021, the U.S. Department of Treasury released its “General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals” (the “Green Book”). The Green Book, a copy of which is locatedhere, provides detailed descriptions of the Biden Administration’s legislative tax proposals, which the White House formally announced on May 28, 2021, when it released its fiscal year 2022 Budget proposals ...
If anyone had told you that 2020 would be a year in which you are virtually guaranteed a lie-flat bed in economy class, businesses instructed employees not to come into the office, and budget supermarket Sheng Siong’s shares outperformed bank blue chip DBS’s, you would have sent the chap to have his head checked.But as the new coronavirus spread worldwide, the ensuing Covid-19 pandemic forced billions into lockdown ...
This seminar included panel discussions with Labor attorneys covering federal and state case updates and new laws since January 2022. The introduction and "housekeeping" for the seminar can be viewed here. Download the full PowerPoint presentation for all sessions » Eyes Wide Shut: Seeing Past Unconscious Bias » Most people think that if they are smart or aware, they can avoid unconscious bias entirely—but this is the wrong approach ...
If 2020 marked the beginning of the pandemic, 2021 was the year it became fully imbedded in our personal and working lives. What does 2022 have in store? For the pandemic, only time will tell, but when it comes to employment law things are a little clearer. Employment Bill Perhaps unsurprisingly, the long-awaited Employment Bill did not progress in 2021 ...
If 2020 marked the beginning of the pandemic, 2021 was the year it became fully imbedded in our personal and working lives. What does 2022 have in store? For the pandemic, only time will tell, but when it comes to employment law things are a little clearer. Employment Bill Perhaps unsurprisingly, the long-awaited Employment Bill did not progress in 2021 ...
The persisting spectre of the pandemic continues to create uncertainty in the market. Over the last 18 months, insolvency figures remained consistently low due to the government support which has been in place. With the prospect of that support coming to an end there is likely to be a reckoning, but when that will begin is unclear. Overall, this next year is likely to be one of resolving loose ends and tidying up before the economy can take off afresh ...
The 2022 tax assessment of real and personal property have been determined by the local Assessor and a Notice of Assessment was issued and mailed to property owners. Property owners should make sure to check the mail for a copy of the Notice in order to determine whether an appeal of their taxable value should be filed ...
On November 17, 2023, New York State Governor Kathy Hochul signed into law Senate Bill 4516, amending General Obligation Law Section 5-336 (GOL 5-336). As set forth in our earlier alert from when the law was first enacted, Section 5-336 limited employers’ use of nondisclosure provisions in agreements releasing claims involving sexual harassment ...
With the 2022 year quickly coming to an end, we take this opportunity to remind our clients and readers of the annual compliance obligations for enterprises in Cambodia. With each year that passes there seem to be more compliance obligations, and the latest 2023 compliance requirements continue this trend. With that in mind, we have provided below what we believe are the most important annual compliance requirements that enterprises in Cambodia should be aware of ...
The Internal Revenue Service and Social Security Administration have announced the various retirement plan benefit and employment tax limits for 2023. Certain limitations will not change for 2023 because they are not subject to annual adjustments. However, limits tied a cost of living index have increased. The limits for 2023, as compared to those in effect for 2022, are set forth below ...
With the war, supply chain issues, rising energy costs and skills shortages, many employers will want to put 2022 firmly behind them. What does 2023 have in store? For the economy only time will tell, but for employment law things are a little clearer. Employment Bill The long-awaited Employment Bill is still to appear in draft form and it is doubtful this will materialise in 2023, at least in the early stages ...
The retail industry has faced numerous challenges over the last year including recovering from the COVID-19 pandemic, responding and adapting to inflation as well as supply and distribution issues as a result of the war in Ukraine. Throughout these disruptions, the retail industry has also benefited from the growth of digitalisation and technology, and we explore the opportunities, threats and trends that will continue to emerge in 2023 ...
With the new year in full swing, we look at what we can expect in the employee incentives space in 2023. Board discretion for enterprise management incentive (‘EMI’) options: A key development last year was the arrival of the long-awaited HMRC guidance on the use of board discretion in the context of EMI options in October 2022. The uncertainty around HMRC practice had been causing hesitation in advice and delays on corporate transactions ...
