CHANGES TO THE ROMANIAN PHARMACY LAW
Introduction Pharmacy Law no. 266/2008 (the “Pharmacy Law”) was recently amended by Law no. 243/2020 approving the Government Ordinance no. 4/2018 amending and supplementing the Pharmacy Law no. 266/2008 which was published in the Official Gazette of Romania no. 1042 (“Law no. 243/2020”). The new amendments entered into force on November 9, 2020.
Impact of COVID-19 pandemic on Shipping
The COVID-19 pandemic still rages unabated in April 2020, ravaging and affecting lives, businesses, individuals and industries worldwide in many ways that will change the world forever1. The International Labour Organization predicts that as many as 25 million jobs worldwide could be wiped out by a worldwide recession brought about by the pandemic2. In many …
COVID-19: The Threat to Insolvency – Options to SMEs
Introduction The COVID-19 pandemic is creating significant health, social and economic challenges worldwide. The impact of this outbreak has raised many concerns in Malaysia especially for Small and Medium-sized Enterprises (“SMEs“) as there is a real risk of insolvency since business is limited due to the closure of premises during the Movement Control Order imposed …
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COVID-19: The impact of extraordinary circumstances on contractual performance
Due to the ongoing pandemic, we would like to present some of the provisions of the Polish legal system allowing to modify agreements or enabling exemption from liability for their non-performance or improper performance due to changes in widely understood social and economic relations, and the so-called force majeure. However, in order to assess the …
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Removal of Three Restricted Businesses under Thailand’s Foreign Business Act
The MOC has finalized the draft ministerial regulation that will classify each of the following businesses as an Exempted Business (the “Draft Regulation”):
Taxing Bossku: The Legal Issues Arising from Dato’ Seri Najib Razak’s Tax Case
1. Introduction 1.1 While the verdict of Dato’ Seri Najib Razak’s (“DSNR”) criminal trial on various charges relating to SRC International was handed down in the last week of July 2020, tax professionals are looking at the tax recovery action against the former Malaysian Premier.
DAC6 – Mandatory disclosure of reportable cross-border arrangements
Introduction On 25 May 2018, the EU Council issued Directive 2018/822/EU, which amends Directive 2011/16/EU on mandatory automatic exchange of information, in relation to reportable cross-border arrangements. Commonly known as DAC6, its purpose is to facilitate the obtaining and the automatic exchange of comprehensive and relevant information between the tax authorities of Member States about …
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The Voluntary Leave Program as an alternative solution to the collective redundancy procedure
Employers who hire at least 20 employees and, due to the difficult economic situation, intend to terminate employment agreements with a considerable group of employees, are obliged to carry out a collective redundancy procedure.Pursuant to the applicable provisions of the act on collective redundancies (Act of 13 March 2003 on the Specific Principles for Terminating …
Verdict of the CJEU as a chance to recover VAT for bad debt relief
On 15 October 2020, the Court of Justice of the European Union (hereinafter: CJEU) give their verdict regarding a Polish company: E. sp. z o.o. sp.k. against the Polish Minister of Finance (case no. C-335/19), regarding the compliance of Polish provisions within the scope of bad debt relief in VAT with EU regulations.
CIT 2021: Key changes for the real estate sector
We would like to draw your attention to the revolutionary changes in taxation of business entities, which are included in the government’s bill amending the Act on Personal Income Tax, the Act on Corporate Income Tax, the Act on Lump Sum Income Tax on Certain Incomes Earned by Natural Persons and certain other acts (print …
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