Latest updates

Russia ratifies MLI
Gorodissky & Partners
  • Corporate Tax
  • Russia
  • 19 July 2019

Federal Law 79-FZ on the Ratification of the Multilateral Convention to Implement Tax Treaty-Related Measures to Prevent Base Erosion and Profit Shifting recently entered into force. Once the ratification procedure has been completed, the convention will enter into force in Russia, introducing changes to the taxation procedure for transactions with counterparties from a large number of countries that have concluded double tax avoidance agreements with Russia.

Cashless money transactions – Mexico's new payment method
Hogan Lovells BSTL SC
  • Banking
  • Mexico
  • 19 July 2019

Digital collection (CoDi) is the latest electronic payment method developed by the Mexican Central Bank, designed to reduce the use of cash and promote competition, while incorporating larger sections of the population into the formal financial sector. It seems that Mexico is moving forward in financial technologies, such as CoDi, and using these developments to promote larger inclusion, competition and transparency for every sector in the country.

Wills, probate and inheritance
Allgemeines Treuunternehmen (ATU)
  • Private Client & Offshore Services
  • Liechtenstein
  • 18 July 2019

This article addresses the rules and procedures governing wills, probate and inheritance in Liechtenstein. For example, a distinction is made between testate and intestate succession. The rules on intestate succession apply when a person dies without leaving a will, whereas testate succession is determined based on a will to which Liechtenstein applies the right to a compulsory portion.

New tax reforms in effect
Lennox Paton
  • Private Client & Offshore Services
  • Bahamas
  • 18 July 2019

In the 2019/2020 Budget Communication the government announced various tax reforms which came into effect on 1 July 2019. Among other things, the cap on owner-occupied property has increased from B$50,000 to B$60,000 per year and stamp duty on real property has been replaced by value added tax (VAT) at the same rates. Further, any party that is required to become a VAT registrant must have a business licence.

Tax benefits for foreign nationals
A G Paphitis & Co
  • Private Client & Offshore Services
  • Cyprus
  • 18 July 2019

Cyprus offers a number of tax incentives to high-net-worth individuals. For example, foreign nationals who earn €100,000 per annum from employment in Cyprus are eligible for a 50% tax exemption on their income irrespective of the status of their tax residency or domicile. Further, Cyprus is party to more than 65 tax treaties, which allows it to charge zero or minimal withholding tax rates on incomes such as pensions, royalties, dividends and interest received from abroad.

Supreme Court evaluates hybrid arbitration agreement
Graf & Pitkowitz Rechtsanwalte GmbH
  • Arbitration & ADR
  • Austria
  • 18 July 2019

The Supreme Court recently considered the validity of a hybrid arbitration agreement which provided for the formation of a tribunal under the International Chamber of Commerce Rules of Arbitration to arbitrate at the Vienna International Arbitral Centre. In this context, the court also considered the consequences of violating procedural rules agreed by the parties and the tribunal's failure to issue a reasoned award.

Regulation in Guernsey – what happens when it goes wrong
Ogier
  • Private Client & Offshore Services
  • Guernsey
  • 18 July 2019

In a 2018 decision, the Royal Court showed how far reaching penalties and sanctions can be when an individual working in a regulated industry fails to put the right procedures in place or is unaware of a rule or requirement. The implications can include significant financial penalties, a public statement and, at worse, a loss of livelihood.

Competition Board fines fertiliser company for hindering on-site inspection
ELIG Gürkaynak Attorneys-at-Law
  • Competition & Antitrust
  • Turkey
  • 18 July 2019

The Competition Board recently fined a fertiliser company for hindering an on-site inspection. The matter concerned whether company officials had been correct in preventing the case handlers from accessing personal email correspondence found in a corporate email account during the on-site inspection which implied that another company had been willing to revise its prices.

CCI holds that neither Flipkart nor Amazon is dominant in online marketplace
Vaish Associates Advocates
  • Competition & Antitrust
  • India
  • 18 July 2019

The Competition Commission of India has dismissed allegations that Flipkart India Private Limited and Flipkart Internet Private Limited abused their dominant position. Interestingly, although information was filed against the Flipkart entities, the commission held a preliminary conference with Amazon and concluded that no one player in the market could be said to have a dominant position at this stage of the market's evolution.

2018 DIS Arbitration Rules – one year on
Skadden Arps Slate Meagher & Flom LLP
  • Arbitration & ADR
  • Germany
  • 18 July 2019

In March 2018 the German Arbitration Institute's (DIS's) new arbitration rules came into force. The new rules are a good choice in almost every setting, offering competitive fees for arbitrators and institutions and providing a modern and efficient arbitration framework that preserves and expands on the distinctive features of the previous DIS rules. These unique factors are particularly appealing to in-house counsel.

Appellate court rules that subrogated insurers assume same rights and limitations as assureds
Kincaid | Mendes Vianna Advogados
  • Shipping & Transport
  • Brazil
  • 17 July 2019

A recent Sao Paulo State Appellate Court case concerned a carriage of goods by sea from Port Everglades (United States) to the port of Rio de Janeiro (Brazil). The court's decision sets an important precedent in recognising that subrogation cannot be used to reinstate a right that no longer applies where a rights holder fails to observe a legal requirement. Therefore, subrogated insurers assume the same rights and limitations as assureds.

Federal Court upholds PMPRB's pricing decision regarding Alexion's Soliris
Smart & Biggar/Fetherstonhaugh
  • Healthcare & Life Sciences
  • Canada
  • 17 July 2019

The Federal Court recently dismissed Alexion's application for judicial review of a Patented Medicines Price Review Board (PMPRB) panel's decision that Soliris (eculizumab) had been sold at an excessive price and its order fixing the amount of the payment to offset excess revenues (C$4.2 million). The application was dismissed on the grounds that, among other things, the PMPRB had not been unreasonable in ordering payment of excess revenues based on the highest international price comparison.

Voluntary overtime must be included in holiday pay if sufficiently regular and settled
Lewis Silkin
  • Employment & Benefits
  • United Kingdom
  • 17 July 2019

The Court of Appeal recently confirmed that the EU Working Time Directive requires voluntary overtime to be included in holiday pay if it is sufficiently regular and settled to amount to normal remuneration. This ruling is in line with other recent cases which have covered what should be considered when calculating holiday pay. It provides clear authority that employers should include sufficiently regular and settled voluntary overtime in their holiday pay calculations.

The bunker balance – owners consider liquefied natural gas in advance of 2020
Wikborg Rein
  • Shipping & Transport
  • International
  • 17 July 2019

Using liquefied natural gas (LNG) rather than fuel oil is one of a range of options available to owners seeking to comply with the International Maritime Organisation's 2020 regulations. Given that shipbrokers have long predicted the emergence of a two-tier shipping market with 'greener' ships commanding a premium over older, less eco-friendly vessels, what is the future for LNG bunkering and what challenges does it present?

National pharmacare update: publication of advisory council's final report
Smart & Biggar/Fetherstonhaugh
  • Healthcare & Life Sciences
  • Canada
  • 17 July 2019

The minister of health recently published the final report from the Advisory Council on the Implementation of National Pharmacare. The council has recommended that Canada implement universal, single-payer, public pharmacare by enacting new legislation and proceeding in a stepwise approach to implementation.

Legal aspects of organised labour
Fischer Behar Chen Well Orion & Co
  • Employment & Benefits
  • Israel
  • 17 July 2019

Collective labour law in Israel is a dynamic and constantly evolving field. In the past decade, many important changes have taken place with respect to collective labour law which have greatly influenced the scope of organised labour. This article examines the legal aspects of organised labour, the protection of the right to organise and the support granted by the labour courts to organisers and the definition of collective bargaining units and workers' organisations.

GDPR: one year on
Castegnaro
  • Employment & Benefits
  • Luxembourg
  • 17 July 2019

Luxembourg implemented the EU General Data Protection Regulation through the Law on the Organisation of Luxembourg's National Commission for Data Protection and the General System for Protecting Data. The law made a number of changes to the Labour Code, including extending the circumstances in which employers can process personal data to monitor their employees. Further, employers no longer have to obtain prior authorisation to monitor employees.

New DIFC Employment Law – everything you need to know
Pinsent Masons
  • Employment & Benefits
  • United Arab Emirates
  • 17 July 2019

The new Dubai International Financial Centre (DIFC) Employment Law has now been published and will come into force on 28 August 2019. This article discusses what this means for employers in the DIFC and the impact of the key changes being introduced. DIFC employers should familiarise themselves with the new law and ensure that their employment contracts, policies and business practices are in line with the new regime.

British Columbia Court of Appeal confirms stringent test for family status discrimination
Fasken
  • Employment & Benefits
  • Canada
  • 17 July 2019

Family status discrimination continues to be an area in which the law differs across Canada. In British Columbia, the test for family status discrimination has been more stringent than in other parts of the country for the past 15 years. A recent case involving a project manager who was assigned to work in another province for eight to 10 weeks a few months after the birth of his first child confirms that a personal preference to provide childcare, without additional factors, does not trigger a duty to accommodate based on family status.

EU Medical Devices Regulation to apply from May 2020 – preparations underway
Eversheds Sutherland (Germany) LLP
  • Healthcare & Life Sciences
  • European Union
  • 17 July 2019

The existing EU legislation regulating medical devices will be replaced by the Medical Devices Regulation. The new regulation changes the European legal framework for medical devices, broadens the scope of the products and operators covered under this legislation and provides for increased responsibilities and obligations for manufacturers and notified bodies. It entered into force in May 2017 and will fully apply from 26 May 2020.

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