Competition Amendment Act, 2023
On 11th April 2023 the President of India gave her assent to the Competition Amendment Bill, 2023 (Amendment Act) which substantially overhauls the existing Competition Act, 2002 (Competition Act). Notably, the ground-work to revamp the Competition Act began in 2018 with the formation of the Competition Law Review Committee which was set up to recommend changes …
UAE Introduces Corporate Tax Relief to Support Small Businesses.
The United Arab Emirates will soon be introducing Corporate Tax, effective for financial years starting on or after 1 June 2023, applicable on the net profit of companies or other businesses in accordance with Federal Law No.47 of 2022 on Taxation of Corporations and Businesses. This move aligns the UAE with other countries implementing Corporate …
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Another positive step in making Dubai a safe place to do business.
Ten banks and financial institutions have formed strategic partnerships with the General Department of Dubai Police to combat financial and economic crimes and improve security. The MoUs signed between the parties aim to facilitate the exchange of knowledge and experience in areas of mutual interest and promote joint efforts to investigate and anticipate economic crimes.
Key UK inheritance tax considerations in relation to gifting
Giving, or ‘gifting’ occurs all the time and over the years we have assisted many UK resident individuals and families with regard to tax efficient gifting.
LEGAL CHALLENGES OF AI BIAS IN INDIA: ADDRESSING THE ISSUE OF FAIRNESS AND DISCRIMINATION
Artificial Intelligence (“AI”) is becoming a prevalent technology in India with widespread application in industries such as healthcare, banking, transportation, etc. However, as AI is increasingly used in decision-making, the possibility of AI bias is a growing concern. This transpires when AI algorithms produce systematically biased findings towards specific groups or individuals, potentially impacting fairness …
What is the procedure for restructuring a company in Romania? What entails the reorganization of a company in Romania? Differences between restructuring and reorganization, the procedure that you can follow, guidance / recommendations from a lawyer
Romanian Law Firm Pavel, Mărgărit and Associates would like to provide you information on restructuring and reorganization of a company in Romania, what is the procedure that you can follow in such cases, what are the differences between the two procedures and what recommendations a lawyer specialized in insolvency, restructuring and bankruptcy in Romania and …
What is Transfer Pricing?
The pricing of transactions between associated enterprises located in various states could potentially affect the amount of taxes collected by each state involved. To protect their tax bases, tax administrations around the world turn their attention to transfer pricing policies of multinational enterprises. Transfer pricing in a nutshell The pricing of transactions between associated enterprises …
Interim protective measures granted by Romanian Courts during a procedure for recognition and enforcement of a foreign arbitral award
The scope of interim protective measures established during a procedure for recognition and enforcement of a foreign arbitral award The scope of interim protective measures is to ensure the effectiveness of a foreign arbitral award and also the effectiveness of the recognition and enforcement decision issued by Romanian Courts at the end of the …
Turkish Competition Authority Publishes the Final Report on Fast Moving Consumer Goods Retailing Sector Inquiry
The Turkish Competition Authority (“Authority”) has published its Final Report (“Final Report”) on fast moving consumer goods (“FMCG”) retailing sector inquiry (“Sector Inquiry”)[1] on March 30, 2021, two years after the release of its Preliminary Report[2]. This is the second sector inquiry report on FMCG retailing since the release of the 2012 Final Report on …
What is the spin-off procedure for a company in Romania?
According to the Romanian Law 31/1990 on companies, when a company creates a new independent company by selling or distributing new shares of its existing business, this is called a spin-off procedure in Romania. A spin-off procedure in Romania is realized when the assets are transferred in totally or in part to a new or …
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