The European Parliament has now formally adopted the Pay Transparency Directive having reached political agreement on its provisions with the Council of the EU at the end of 2022. Its provisions are likely to enter into force in most EU member states in 2026. The measures in the Directive are significant and touch on many aspects of the employment lifecycle.
Baker McKenzie’s Sanctions Blog published the alert titled Canada Imposes Additional Sanctions Against Russia: 14 Individuals and 34 Entities Targeted on 13 April 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Welcome to our April 2023 edition of the Funds Tax Bites, where we provide a “bite size” overview of the key recent and anticipated tax developments globally that we expect to be of interest to those operating in the investment funds industry.
Join us for a four-part webinar series as our US moderators welcome colleagues from around the globe to share the latest labor and employment law updates and trends. US-based multinational employers with business operations in Asia Pacific, Europe, the Middle East and Africa, and the Americas regions will hear directly from local practitioners on the major developments they need to know, and come away with practical tips and takeaways to implement.
On 9 March 2023, the Luxembourg Parliament adopted a law introducing a new legal framework into the Labor code to fight against moral harassment during employment. On 5 April 2023, the New Law was published in the Luxembourg official gazette and entered into force on 9 April 2023.
On 28 March, the Brazilian Secretariat of Foreign Trade, through Ordinance No. 10 dated 27 March 2023, opened a sunset review concerning the antidumping duty in force on Brazilian imports of metallic magnesium from Russia. At the end of the review, the current antidumping duty may have its term extended for another five years.
On 30 March 2023, Members of the European Parliament endorsed proposed reforms to the General Product Safety Directive (GPSD) in the form of a Regulation, intended to safeguard consumers. This new Regulation looks set to be one of the most significant updates to the EU’s product regulatory landscape in modern history – making substantial amendments to the GPSD, which has been in force for more than two decades.
During the Council of Ministers of 28 March 2023 the Government adopted a Law Decree on “Urgent measures to support families and companies in the purchase of electricity and natural gas, as well as on health and tax compliance”, which has not yet been published in the Official Gazette, introducing new measures on the payback for medical devices.
In its white paper published last month, the UK Government set out its principles-based, adaptive approach to regulating AI. The UK approach stands in stark contrast to the more static and prescriptive approach of the EU AI Act. Instead of assigning responsibility for AI governance to a new single regulator, the UK Government is empowering existing regulators to come up with tailored approaches for specific sectors. The aim is to ensure that the UK remains a flexible and innovation-friendly jurisdiction for AI developers. The flipside is that the UK approach may leave gaps between regulators, by failing to take a more holistic approach along the lines of the EU.
In a circular letter sent to the Regional and Autonomous Provinces Health Departments on 27 March 2023, the Ministry of Health clarified that the marketing authorizations holders directly engaged in the distribution of their medicinal products are required to obtain a distribution license under Article 100 of Legislative Decree 219/2006.