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”) …
[SOUTH KOREA] KFTC Announces Standard Distribution Agreement for F&B Businesses
On February 15, 2017, the Korea Fair Trade Commission (“KFTC”) announced the Standard Distribution Agreement for transactions between suppliers and distributors in the food & beverage (“F&B”) industry.
[SOUTH KOREA] Supreme Court Rules that Distributor’s Sales Agents Are Distributor’s Employees …
Supreme Court Rules that Distributor's Sales Agents Are Distributor's Employees, Entitling Them to Severance Payment from the Distributor In a recent decision, the Supreme Court held that although a company (the "Distributor") executed service agreements with its sales agents (the "Sales Agents") who worked in the Distributor's retail space at a department store, the Sales …
[SOUTH KOREA] MOE Moves to Further Stringently Regulate Hazardous Chemical Substances
The Amendment to the Chemicals Control Act (“CCA”), as proposed by the MOE and promulgated on December 27, 2016, is scheduled to take effect on December 28, 2017 (the “Amendment”).
Thailand’s accession to the Madrid Protocol: what does it change for brand owners?
The Madrid Protocol is an international treaty establishing a system for the registration of international trademarks. Thailand finally joined the other ASEAN countries Brunei, Cambodia, Laos, Philippines, Singapore and Vietnam on August 7th, 2017 by becoming the 99th member of the Madrid System. The Protocol will enter into force in Thailand on November 7th, 2017. …
Determination of Section 40(8) income
22 Aug 2017 at 04:00 / NEWSPAPER SECTION: BUSINESS Determination of Section 40(8) income The government recently introduced a tax incentive programme to encourage individuals, including ordinary partnerships and groups of persons, to reorganise their businesses and operate them in the form of a company limited or a juristic partnership. This would make it easier …
The Serious Fraud Office: Ways To Deal With It
Aziz Rahman explains how to respond to a Serious Fraud Office (SFO) investigation in order to secure the best outcome.
Making Sure You Do Enough To Prevent Money Laundering
With money laundering coming under ever-closer scrutiny, Aziz Rahman explains why you need to make sure your preventative measures are good enough.
Emissions Testing And Fraud
Porsche is the latest car maker to be investigated over emissions test fraud. Syedur Rahman and Nicola Sharp explain the wide-ranging effects of workplace fraud and the way to eradicate it.
New requirement for all issuers operating on the Luxembourg Stock Exchange
On 10 August 2017 the Luxembourg Stock Exchange announced that all domestic and foreign issuers operating on the regulated market (Bourse de Luxembourg) or on the multilateral trading facility (Euro MTF) of the Luxembourg Stock Exchange must provide their legal entity identifier (“LEI”) codes to the Luxembourg Stock Exchange before 15 September 2017.