Earlier this year I wrote about a court challenge being made by the rewilding charity Trees for Life against NatureScot, challenging the issue of licences to kill beavers. This followed the release of information by NatureScot reporting that, during 2019, 87 beavers were killed and 15 were live trapped under licences that it had issued to farmers and landowners ...
“Belarus will become the first government in the world that opens wide opportunities for the use of blockchain technology”, said in a statement on the official website of the President of Belarus. Alexander Lukashenko, who signed the new law of the land, believes that his county “has every chance of becoming a regional center in this area.” The Presidential Decree of the Republic of Belarus No ...
One of the main action items identified by South Africa’s National Treasury in its summary of the country’s position on the G20/Organisation for Economic Co-operation and Development (“OECD”) action plan on base erosion and profit shifting (“BEPS”), is the requirement for the South African Revenue Service (“SARS”) to update the Transfer Pricing Practice Note in line with the OECD Transfer Pricing Guidelines to include new guidance on the ar
In a Pre-Budget Report (PBR) announced to Parliament last week, the Government has set out its priorities for next year's budget. These include proposals to increase revenues via significant changes to the current employment tax regime. Perhaps the most headline-grabbing aspect of these potential reforms is the proposal to increase the employer portion of payroll tax for exempted companies, from 10.25% to 10.75% ...
Annex II is a list of cooperative jurisdictions maintained by the EU that reflects ongoing cooperation between the EU and its international partners and the commitments of these countries to reform their legislation to adhere to agreed tax good governance standards. Its purpose is to recognise ongoing constructive work in the field of taxation, and to encourage the positive approach taken by cooperative jurisdictions to implement tax good governance principles ...
Proposition 19, which was marketed as a provision to benefit homeowners who are over 55, the disabled, and wildfire/disaster victims, actually contained major property tax increases. The increased property taxes will be paid by children and grandchildren that receive California real estate (primary residences and all other properties) from their parents and grandparents ...
According to the bill, online purchases will also be taxed Recently, the government announced the submission of the latest tax reform to the Legislative Assembly, which is called the Public Finance Enhancement Plan. This new tax package is the merging of four projects that have been floating around the Legislative Assembly for a few months now ...
On January 25, 2021, President Biden signed the Ensuring the Future Is Made in All of America by All of America’s Workers (Made in America) Executive Order, which not only directs that federal government purchases and procurement go to American businesses and workers, but also calls out the Jones Act for specifically endorsing the nation’s vessels, ports, and merchant crews ...
On May 28, the Treasury Department released the General Explanations of the Administration's Fiscal Year 2022 Revenue Proposals, known as the "Green Book," detailing the Biden administration's proposed changes to the Internal Revenue Code (IRC). For startup founders and early investors, the Green Book provides welcome relief ...
OBVIOUSLY, AS REGARDS THE MINING INDUSTRY, QUÉBEC WILL NOT BE THE ONLY JURISDICTION IN WHICH ACTION IS EXPECTED AFTER THE SUMMER BREAK. WHILE THE PARLIAMENTARY COMMISSION CONTINUES REVIEWING BILL 79 AMENDING THE MINING ACT (QUÉBEC)(1), OTTAWA IS NOT OUTDONE AS THE HOUSE OF COMONS MUST PROCEED WITH THE THIRD READING OF BILL C-300 (THE “BILL”) ENTITLED: CORPORATE ACCOUNTABILITY OF MINING, OIL AND GAS CORPORATIONS IN DEVELOPING COUNTRIES ACT ...
Incoming Call ChargesIn February 2003 the Ukrainian Parliament overruled President Kuchma's December 2002 veto against an amendment to Article 12 of the Communications Law 1995. The amendment prohibits all telecommunications operators from charging their customers for incoming calls. On March 13 2003 the president duly signed the amendment, which will come into effect six months after its official publication (ie, on September 18 2003) ...
The new biodiversity net gain (BNG) requirements are set to come into force from November 2023. This will legally mandate securing a minimum 10 per cent biodiversity net gain from new commercial and residential developments in England, with a few exceptions. While the requirements - part of the Environment Act 2021 – will have financial and operational implications, the real estate industry has had several years to prepare for BNG ...
Former Secretary of Finance Cesar Purisima issued Revenue Regulation ("RR") No. 3-2016 prescribing the policies and guidelines on the adoption of credit, debit, and prepaid cards as an additional mode of payment for internal revenue taxes. Credit, debit, and prepaid cards were made available as an additional mode of payment in order to ease the burden to taxpayers in the payment of their taxes ...
Introduction Prior to the implementation of the Corporate Recovery and Tax Incentives for Enterprises Act (the CREATE Act), the Philippines adhered to the "cross-border doctrine", under which ecozones and freeport zones were considered foreign territories, even if they were situated within the Philippines ...
The Philippines is party to double taxation agreements (DTAs) with 43 countries. These DTAs contain exchange of information (EOI) provisions, which oblige contracting parties to exchange details that are needed to carry out the provisions of the DTAs or the domestic laws that concern the taxes applicable to the DTAs. To this end, the Bureau of Internal Revenue (BIR) consistently develops its EOI programme and has, in the past decade, circulated administrative issuances to facilitate EOI ...
The government has confirmed its intention to establish eight new Freeports in Solent, East Midlands Airport, Felixstowe & Harwich, Humber, Liverpool City Region, Plymouth & South Devon, Teesside and Thames. In our latest Freeport bitesize briefing, we look at some of the potential commercial contracts and supply chain opportunities for businesses looking to operate in these Freeports. There are generous customs and taxation benefits within Freeport sites ...
On August 29, 2017, the Mexican Ministry of Finance and Public Credit (Secretaría de Hacienda y Crédito Público) grantedCentral de Corretajes(“CENCOR”) a new concession to operate a new stock exchange in Mexico. This new stock exchange will be calledBolsa Institucional de Valores(“BIVA”). It is anticipated that BIVA will initiate operations in early 2018 ...
Blockchain is a distributed ledger of data entries. The entries are processed and managed by a series of different computers, or ‘nodes’, which can be running on different servers. Every computer connected to the system keeps a copy of this ledger, meaning that different parties can view and manage the same information in real time. It also makes it exceptionally safe and secure. The energy sector has been relatively slow to adopt blockchain technology ...
As CIT finalization approaches, we highlight the existing Transfer Pricing compliance requirements for Vietnam taxpayers, under Decrees 132 and 126, and Law No. 38: When does Transfer Pricing (TP) apply? When a Vietnam company or local subsidiary of a foreign company has intra-group transactions (goods, services, loans or royalty transactions) with its related parties ...
Due to the public health crisis caused by the Coronavirus, the Mayor's Office of Bogotá issued Decree 093 on March 25, 2020, to modify the dates to pay 2020 Property Tax and Vehicles Tax. The Property Tax for residential and non-residential properties will be due on June 5, 2020 (prior date was April 3rd, 2020) with a 10% discount or shall be paid in full by June 26, 2020 (prior date, June 19th, 2020) ...
Reprinted with permission of Texas Lawyer
Brazil has a very small Muslim community. In any event, this is a country which, despite economic and/or political crises, foreign investors are always looking at. At this moment, one can see foreign investors acquiring assets in Brazil because of their low prices ...
1. Interest on Equity and Dividends: the Brazilian Perspective Brazilian companies have two main instruments for remunerating shareholders for the capital invested in companies: dividends and interest on net equity (“Juros sobre o capital própio”, referred to as “IoNE” in this article). Both instruments can be used at the same time, but their tax treatment will depend on the particular characteristics of each case ...
The Brazilian Ministry for Mines and Energy has issued Ordinance No. 653, which outlines the procedures for the A-5 Power Bid to be held on April 30, 2015. The bid will auction Regulated Market Energy Commercialization Contracts (CCEAR) to be negotiated on two fronts: (i) Quantity for hydroelectric power plants, and (ii) Availability for coal-fired plants, natural gas-fired combined cycle plants and biomass ...
