The Texas Supreme Court recently declined to reach a question of significant interest to energy companies and landowners—whether deep subsurface wastewater migration can give rise to trespass liability when the wastewater crosses lease lines. See Envt’l Processing Sys., L.C. v. FPL Farming Ltd., No. 12-0905 (Tex. Feb. 6, 2015) ...
The Texas Supreme Court has held that a mineral lessee enjoys surface rights over a pooled tract even if that tract is not producing oil or gas. Key Operating & Equip., Inc. v. Hegar, No. 01-10-00350-CV, 2014 WL 2789933 (Tex. Jun. 20, 2014). Mineral lessee Key pooled part of a 191-acre tract (the Curbo tract) with an adjoining tract (the Richardson tract) to form a single unit. Key used a road across the Curbo tract to reach oil and gas operations on the Richardson tract ...
On June 22, 2018, in a 5-4 decision, the Supreme Court of Texas settled a conflict in appellate court rulings by holding there is no cause of action in Texas for intentional interference with inheritance ...
The Thai cabinet has recently approved the draft Royal Decree issued under the Revenue Code regarding income tax exemption on investment in Thai startups (the “Draft Royal Decree”), in cases where the funding for the startups is provided directly or indirectly through Venture Capital (VC), Corporate Venture Capital (CVC), or private equity trust (PE Trust). This Draft Royal Decree aims to unlock capital gains tax on investment in startups under the Royal Decree No ...
According to an anonymous source, a ‘Centre for Economic Situation Administration’ (“CESA”) meeting chaired by Prime Minister Gen Prayut Chan-o-cha was held on Friday 4 June that approved (in-principle) a set of proposed stimulus measures aimed at encouraging wealthy expatriates to Thailand ...
On March 31 of this year, Thailand submitted to the Organization for Economic Cooperation and Development (“OECD“) its notification of ratification of the Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (Convention or MLI) ...
1. LAND AND BUILDING TAX On 26th January, the Cabinet approved legislation with measures to reduce the tax on land and buildings, and land registration fees for residential housing as a means of alleviating the ongoing impact of the COVID-19 situation in Thailand. The new measures include: A 90% reduction of the land and building tax for 2021 that will be implemented through the enactment of a royal decree pursuant to Section 55 of the Land and Building Tax Act 2019 (the “Act”) ...
Over the past few years, the South African Revenue Service (“SARS”) appears to have created a new category of doubtful debts allowances which they have termed a “specific” doubtful debts allowance, as distinct from the “ordinary” doubtful debts allowance to which a taxpayer is entitled under section 11(j) of the Income Tax Act, 1962 (the “Act”) in the ordinary course in respect of its doubtful debts ...
Towards the end of 2018, the South African Minister of Mineral Resources, Gwede Mantashe (the “Minister”), published the Broad-Based Socio-Economic Empowerment Charter for the South African Mining and Minerals Industry, 2018 (the “2018 Mining Charter”). It is indicated that “implementation guidelines” are to be published in the near future. What follows is a summary of a few of the salient features of the 2018 Mining Charter ...
The Chancellor announced the first eight Freeport locations: Solent, East Midlands Airport, Felixstowe & Harwich, Humber, Liverpool City Region, Plymouth and South Devon, Teesside and Thames ...
On March 31, 2021, the Biden Administration released a Fact Sheet for its proposed American Jobs Plan (the “AJP”). The full text of the AJP can be found here. Although the AJP is primarily a proposal for rebuilding our country’s infrastructure, positioning the U.S. to compete with China and creating millions of jobs, it also proposes important corporate tax changes necessary to fund the AJP ...
The American Rescue Plan Act of 2021, Pub. L. No. 117-2 (the “ARPA”), signed into law on March 11, 2021, by President Biden, contains a few unexpected tax surprises ...
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% ...
The Benefits of Using a an Unlimited Liability Company (1) Introduction Unlimited Liability Companies (“ULC”) have become useful vehicles for the acquisition of a Canadian business by a U.S. investor. This paper summarizes the advantages of using a ULC, the treatment of a ULC in Canada and in the U.S. and the use of a ULC in a factual setting involving the acquisition of a Canadian business. Until recently, only Nova Scotia offered the possibility of incorporating a ULC ...
On April 4, 2012 the British COlumbia Supreme Court rendered its decision in the case NESKONLITH INDIAN BAND V. SALMON ARM (CITY)1 and the therein confirmed that municipals have no duty to consult and accommodate aboriginal peoples. The Court based its decision on the Supreme Court judgments in Haida2 and Rio Tinto3 as well as decisions of the British Columbia courts and established three main principles ...
On October 15, 2010, the Bureau of Ocean Energy Management, Regulation and Enforcement (“BOEMRE”) issued a final rule that makes mandatory and expands API RP 75, a voluntary industry standard initially promulgated in the 1990s, that addresses the management of safety and environmental risks associated with Outer Continental Shelf (“OCS”) operations and facilities ...
Is the Marcellus shale that underlies a significant part of western and central Pennsylvania itself a “mineral”? Is Marcellus shale gas the type of natural gas contemplated in prior Pennsylvania case law, or something different? Is the Marcellus shale similar to coal, so that whoever owns the shale owns the gas that is embedded in that shale? In reversing and remanding the decision by the Susquehanna County Court of Common Pleas, a three judge panel of the P
The economic substance requirements in the Cayman Islands, introduced by the International Tax Co-operation (Economic Substance) Act (as revised) (the “ES Act”) (Economic substance requirements in the Cayman Islands), have been extended to partnerships pursuant to the International Tax Co-operation (Economic Substance) (Amendment of Schedule) Regulations 2021, which came into force on 30 June 2021 ...
On Friday, June 30, the U.S. Supreme Court issued its opinion in West Virginia v. EPA resolving the seven-year debate over the Environmental Protection Agency’s statutory authority to promulgate the President Obama-era Clean Power Plan (“CPP”). In 2015, the Obama administration promulgated the CPP regulations under the Clean Air Act § 111(d), imposing standards of operation that require a reduction of carbon dioxide from existing coal power plants ...
Currently, 33% of Ireland's Greenhouse Gas emissions are produced as a result of agricultural activities. In order to reduce emissions there must be a change in farming methods; opportunities are also present in the areas of forestry, bioenergy and land-use practices. While reducing emissions, policy in this area must also aim to: Maintain the "green" brand image of Irish food exports abroad ("Origin Green" etc.). Maintain good prices for producers ...
