Foreign issuers on Luxembourg Stock Exchange must now provide LEI codes
The Luxembourg Stock Exchange now requires all domestic and foreign issuers operating on the regulated market, the Bourse de Luxembourg, or its Euro MTF multilateral trading facility, to provide the exchange with their legal entity identifier codes. The exchange has called on foreign issuers to check the ongoing validity of their LEI codes with local …
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New Tax Procedures Law in the UAE
On 31 July 2017, the President of the United Arab Emirates (the “UAE”) issued the new Tax Procedures Law (the “Law”). This Law contributes to build the UAE’s tax system, to regulate the administration and collection of taxes and most importantly, to clarify the respective rights and obligations between the Federal Tax Authority (the “FTA”) …
Confirmation of the end of the VAT exemption regime for financial IGPs
Following the Luxembourg case C-274/15, the series of cases relating to the scope of the cost-sharing VAT exemption also referred to as “Independent Group of Persons” (“IGP”) continues with the release today of three judgements by the Court of Justice of the EU (“CJUE”): Aviva (C-605/15), DNB Banka (C-326/15) and European Commission v Federal Republic …
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CPO: “Philippines: To Be or Not To Be a Data Protection Officer (DPO)”
Chief Privacy Officer (CPO) Magazine, an online publication owned by Data Privacy Asia, featured an article by SyCipLaw partner Rose Marie M. King-Dominguez. Entitled “Philippines: To Be or Not To Be a Data Protection Officer (DPO)”, the article discusses the qualifications and responsibilities of a DPO as outlined in the Philippine Data Privacy Act of …
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Deductibility of guaranteed amounts by fund sponsors
3 Oct 2017 at 04:00 / NEWSPAPER SECTION: BUSINESS Deductibility of guaranteed amounts by fund sponsors Property funds have long been popular with investors in Thailand, where the mutual-fund structure is being phased out and funds are being converted to real estate investment trusts or REITs. Raising funds from investors through such vehicles often involves a …
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Amendments Of Period Of Appeals Of Turkish Court Decision Incivil And Criminal Justice Systems
Regional Courts of Appeals started to operate as from July 20, 2016 and the Turkish Legal System adopted one more instance to its two (2) instance system, being transformed to a three (3) stage system. In the new system, Regional Courts of Appeals operates as second instance and the Supreme Court of Appeals is the …
Arbitration Article Series V: Challenging an Arbitration
In this case the losing party will file an annulment case. However, it may be possible to argue that the parties have accepted the tribunal’s jurisdiction, or have waived any right to object, or have lost that right by not objecting at the first opportunity.
Investors win Dh84m claim against developer in Dubai
A Dubai developer has been ordered to pay three men Dh84m after they failed to deliver villas the men had purchased from a housing project near Dubai Land.
Luxembourg law on the exploration and use of space resources entered into force
The Luxembourg law on the exploration and use of space resources of 20 July 2017 entered into force on 2 August 2017 and placed Luxembourg among the most innovative space-oriented nations in the world.
UAE domestic VAT law released!
On 27 August 2017, the United Arab Emirates (the "UAE") published the text of its domestic Value Added Tax (the "VAT") Law, shortly after releasing the text of its Excise Tax Law last week, and the Federal Tax Procedures Law earlier this month. It will be followed by implementing regulations, which will provide more detail …