Baker McKenzie’s Sanctions Blog published the alert titled OFAC Designates Major Russian Financial Institutions and Issues New and Amended Russia-Related General Licenses; New FAQs on 20 December 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On 8 December 2022, the United States and Croatia signed their first convention for the avoidance of double taxation and the prevention of tax evasion with respect to taxes on income. With this development, Croatia becomes the latest, and the only remaining, European Union member state to sign its first tax convention with the US.
On 26 September 2022, the US Court of Appeals for the Eleventh Circuit, issued an opinion in United States v. Meyer, 50 F.4th 23 (11th Cir. 2022), holding that the Anti-Injunction Act, codified in Code Section 7421, did not bar a defendant taxpayer from seeking a protective order in a closed suit to restrain the government from using his admissions when assessing a tax penalty in a separate administrative proceeding.
In its press release published on 26 October 2022, The Financial Crimes and Enforcement Network announced that its Acting Director renewed and expanded its Geographic Targeting Orders beginning on 27 October 2022 and ending on 24 April 2023 (with certain exceptions).
On 5 December 2022, the US Department of State’s Directorate of Defense Trade Controls (DDTC) issued the International Traffic in Arms Regulations (ITAR) Compliance Program Guidelines. The ITAR Guidelines set out DDTC’s expectations for an effective ITAR Compliance Program and an introduction to controls contained in the Arms Export Control Act and ITAR.
On 7 December 2022, Minister François-Philippe Champagne, Minister of Innovation, Science and Industry, announced the Canadian government introduced legislation to amend the Investment Canada Act, known as the National Security Review of Investments Modernization Act. While the proposed amendments at first appear to be a dramatic overhaul of the existing national security review framework for foreign investment in Canada, they are generally consistent with other recent legislative amendments and policy developments related to Canada’s national security, and with trends in other jurisdictions. The proposed changes heighten the importance of proactive planning to address national security risks arising in commercial transactions and other forms of foreign investment.
As we head into 2023, all eyes are on salary and pay range requirements in US job postings — where these laws apply, what they require, and when they come into effect. In this latest video, our Labor & Employment lawyers explain what employers need to know about US laws requiring salary and pay range disclosures in job postings including important differences from location to location, questions and concerns, and practical takeaways.
On 30 November 2022, Treasury and the IRS published Notice 2022-61, which provides much-awaited guidance on the application of “prevailing wage” and “apprenticeship” requirements relevant to determining the amount of several renewable energy and other clean technology tax credits that were enacted, extended or modified by the Inflation Reduction Act. The guidance provided by the Notice is fairly scant and leaves a number of issues unaddressed. It seems that the issuance of the Notice was rushed in order to start the 60-day period after which taxpayers will need to satisfy the “prevailing wage” and “apprenticeship” requirements, to the extent applicable, to claim the maximum tax benefit for projects (i.e., projects the construction of which begins on or after 29 January 2023).
Between maintaining business continuity and keeping your workforce safe, we know there’s been little time to track the rapidly changing employment, compensation and mobility law landscape — in Illinois, across the US, and globally. This webinar, co-hosted by the Association of Corporate Counsel – Chicago Chapter on 12 January 2023, is designed to ensure that Midwest in-house counsel are up to speed on the top developments of 2022 and are prepared for what’s on the horizon in 2023.
Baker McKenzie’s Sanctions Blog published the alert titled G7 Sets Price Cap for Russian Oil at USD 60 Per Barrel on 9 December 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.