Working Arrangements for Non-Resident Foreign Companies’ Turkey Operations
Working Arrangements for Non-Resident Foreign Companies' Turkey Operations Conducted through Local Individuals Introduction In our globalized world where trade has no borders, it is a usual practice for companies to conduct operations in different countries, including Turkey. Some foreign companies prefer having an establishment in Turkey, such as a local subsidiary company, while conducting their …
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Initial Coin Offering (ICO) through Cyprus The Tax & VAT aspect
ICOs have recently exploded and become an increasingly popular method of fundraising for start – ups and other companies with the intention to fund innovative projects based on the Blockchain technology.
Egypt’s New Bankruptcy Law
On 19 February 2018, a new law no. 11/2018 was issued regulating the restructuring, preventive reconciliation and bankruptcy in Egypt (the" Bankruptcy Law"). The law entered into force as of 22 March 2018. The law introduces for the first time an out-of-court restructuring system which helps troubled companies reorganize their business. In the meant time, courts …
The African Continental Free Trade Area: Towards Increasing Intra-African Trade
Introduction According to the Organisation for Economic Co-operation and Development (OECD), a free trade area (FTA) is a grouping of countries within which tariffs and non-tariff trade barriers between the members are generally abolished but with no common trade policy toward non-members. The World Trade Organisation (WTO) describes it as thus: ‘trade within the group …
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Land Information Management System (LIMS)
The Ministry of Lands is mandated to administer land through efficient administration, equitable access, secure tenure and sustainable management of land resources.
Creating a Bigger Pie or Golden Handcuffs? Employee Share Ownership Plans in Kenya
Tips to Consider When Setting Up an Employee Share Ownership Plan A substantial number of companies have recently installed employee share ownership plans (ESOP). Little is known, however, about how such arrangements work.
Free movement of workers: new provisions on equal treatment and minimum pay for highly qualified wor
Equal treatment The Law of November 7 2017, which came into force on January 1 2018, partially transposed EU Directive 2014/54/EU on measures facilitating the exercise of rights conferred on workers in the context of freedom of movement for workers into Luxembourg law.
Free movement of workers: new provisions on equal treatment and minimum pay for highly qualified wor
Equal treatment The Law of November 7 2017, which came into force on January 1 2018, partially transposed EU Directive 2014/54/EU on measures facilitating the exercise of rights conferred on workers in the context of freedom of movement for workers into Luxembourg law.
Philippines: Department of Finance Revenue Regulations No. 7-2018 (RR No. 7-2018)
On January 31, 2018, Finance Secretary Carlos G. Dominguez issued RR No. 7-2018 which restored the provision on Notice of Informal Conference as a due process requirement in the issuance of a deficiency tax assessment. RR No. 7-2018 was published in the Manila Bulletin on February 1, 2018 and took effect on February 16, 2018. The Notice …
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Philippines: Department of Finance Revenue Regulations No. 6-2018 RR No. 6-2018
On January 19, 2018, Department of Finance (“DOF”) Secretary Carlos G. Dominguez issued Revenue Regulations (“RR”) No. 6-2018 which revoked RR No. 12-2013 and reinstated Section 2.58.5 of RR No. 2-1998, as amended by RR Nos. 14-2002 and 17-2003. Section 2.58.5 of RR No. 2-1998 implements the requirement of withholding of income tax for deductibility …
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