Philippines Chapter in The Tax Disputes and Litigation Review – Edition 5
The Philippines section of The Tax Disputes and Litigation Review – Edition 5 contains information on commencing disputes, including national and local taxes; courts and tribunals; penalties and remedies; tax claims, including recovering overpaid taxes, challenging administrative decisions, and claimants; costs; alternative dispute resolution; anti-avoidance; double taxation treaties; areas of focus; and outlook and conclusions. …
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IFLR: “Philippines: Acquiring insurance brokers”
The April issue of the International Financial Law Review (IFLR) includes an international briefing article by SyCipLaw partner Hiyasmin H. Lapitan entitled “Philippines: Acquiring insurance brokers”. The article discusses the new requirement by the Philippine Insurance Commission (IC) for advance approval to acquire a stake in a Philippine corporation that is licensed as an insurance broker or …
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Korean tax authorities impose KRW 300 billion of withholding taxes on software license fees, looking
Deeming Oracle US the beneficial owner, the Tax Tribunal upheld assessments against Oracle Korea on license fees paid to Ireland affiliate going back to 2008. Tax judgment is now on appeal by Oracle to the administrative law court. The Korean Tax Tribunal has affirmed National Tax Service (NTS) assessments totaling some KRW 300 billion (approx. …
When Paid Leave and Sick Leave Collide
As stated by the European Court of Justice (“ECJ”), the right of employees to paid annual leave is a “particularly important principle of the European Union social law” which cannot be derogated from the competent local authorities or practices, such as collective agreements, and whose implementation by the said authorities or practices must not fall …
[SOUTH KOREA] Korean Supreme Court Issues Several Rulings on Whether a Foreign Company Doing …
Korean Supreme Court Issues Several Rulings on Whether a Foreign Company Doing Business in Korea May Be Found to Have a Permanent Establishment In 2016, the Korean Supreme Court issued several rulings shedding light on its approach when analyzing whether a foreign company conducting business in Korea may be found to have a permanent establishment …
[SOUTH KOREA] KFTC Announces Its Enforcement Plan Detailing Its Focus Areas for 2017
On January 5, 2017, the Korea Fair Trade Commission ("KFTC") announced its enforcement plan for 2017 (the "Plan"), and set out detailed policies to: (i) monitor and remedy anti-competitive structure and behavior; (ii) establish a healthy business system among large conglomerates and small and medium-sized enterprises (“SMEs”); and (iii) build a consumer-friendly environment promoting consumers’ …
[SOUTH KOREA] Ministry of Environment (i) Strengthens Safety/Labeling Standards for …
Ministry of Environment (i) Strengthens Safety/Labeling Standards for Potentially Risky Products and (ii) Introduces Biocides Act Modeled After EU’s Similar Regulation On December 30, 2016, Korea’s Ministry of Environment (“MOE”) announced an amendment to the “Potentially Risky Product Designation & Safety/Labeling Standards” (“MOE’s Notice”), which strengthens the safety and labeling standards relating to potentially risky …
Turkey Introduces a New Regulation on Packaging in line with EU Directives
Turkey Introduces a New Regulation on Packaging, Inserts and Tracking of Pharmaceuticals, in line with EU Directives I – Introduction On April 25th, 2017, the Ministry of Health ("Ministry") has published the Regulation on Packaging Information, Inserts and Tracking of Medicinal Products for Human Use ("Regulation") on the Official Gazette. Upon publication of the Regulation, …
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When the spirit of the law shines
2 May 2017 at 04:00 NEWSPAPER SECTION: BUSINESS When the spirit of the law shines The current government has been trying very hard to make Thailand a jurisdiction that places more emphasis on substance and less on surface appearances. This is evident in recent legal reforms, but the attitudes of state authorities remain problematic. Many …
Hungary: New Arbitration Legislation?
The Ministry of Justice has circulated its initiative for improving the legal environment with the aim of increasing Hungary's competitiveness by amending certain regulations and institutions. Among other things, the initiative concerns cross-border mergers and operation of trustees, and generally aims to lighten administrative burdens. Most notably, if adopted in its current form, it will …