Our Global PIPE Guide sets out a comparison of the key features and requirements applicable to PIPE deals in a number of jurisdictions around the globe. In this guide, our transactional lawyers share their insight and knowledge on PIPE deals including the key advantages of using PIPEs, why and how…
On 24 June 2020, the China Banking and Insurance Regulatory Commission (CBIRC) issued a circular on Carrying out the Follow-up Checks for the Rectification of Market Problems in the Banking and Insurance Sectors (the “Circular”). The CBIRC proposes to launch follow-up checks to review the steps taken to correct industry problems identified in the past three years following some high-profile cases, particularly in the areas of corporate governance, risk management and repeated violations of several laws and regulations.
Our alert sets out a brief summary of key “follow-up” checks outlined in the Circular and provides some practical tips that we have developed from our own experience on how companies can ensure their compliance programs satisfy the guidelines. More information can be found in our guide on 5 Essential Elements Of Corporate Compliance.
The Minister of Finance has issued Minister of Finance Regulation Number 67/PMK.03/2020 (‘MoF 67/2020’) on the Provisions of Value Added Tax Or Value Added Tax And Sales Tax on Luxury Goods, as well as Land And Building Tax Facilities In Upstream Oil And Gas Business Activities Under Gross Split Production Sharing Contract.
MoF67/2020 provides tax facilities during the exploration and exploitation phases until the commencement of Commercial Production, in the form of:
Value Added Tax (‘VAT’) or VAT and Sales Tax on Luxury Goods payable are not levied.
Land and Building Tax is reduced up to 100%.
MoF 67/2020, which was published on 15 June 2020 and effectively came into force by 15 July 2020, also regulates the procedures to obtain the facilities.
What has happened? This July, the German Federal Council approved, with changes, an amendment to the German Batteries Act (Batteriegesetz, “BattG”) suggested by the German cabinet. The bill became necessary, as the current German system of battery take-back was no longer sustainable. The legal structure imposed an unfair burden upon GRS Batterien, Europe’s largest collection scheme, which became increasingly financially unattractive and was therefore abandoned by many battery manufacturers who set up their own take-back schemes.
The new Batteries Act aims to set a level playing field. In addition, it introduces a registration obligation for anyone placing batteries on the German market and it transposes certain new requirements under the amended Waste Framework Directive into German law.
One of the common questions that we find employers asking is whether an ex-gratia payment made to an employee upon his or her termination will be subject to personal income tax.
What measures have EMEA governments taken in the life sciences sector to fight COVID-19?
As COVID-19 rapidly spreads to every corner of the globe and is officially declared a pandemic, governments across the world are adopting emergency measures to fight against this extraordinary situation. Ultimately, all these measures are aimed at protecting the health and wellbeing of citizens. However, on the healthcare and life sciences front in particular, such measures range from intervention powers to guarantee adequate supplies of treatment and medical equipment, to the relaxation of deadlines and regulatory requirements to simplify administrative procedures wherever possible, so that competent authorities, manufacturers and other actors can focus on urgent priorities related to the COVID-19 crisis.
Welcome to Baker McKenzie’s Labor and Employment video chat series! In these quick and bite-sized video chats, our employment partners team up with practitioners in various areas of law to discuss the most pressing issues for employers navigating the return to work. This series builds on our recent client alert…
As part of our continued efforts to guide clients through these challenging times, the Asia Pacific Employment &…
If Africa can address its power crisis through the widespread use of renewable energy solutions and smart power…
The Hong Kong National Security Law took effect on 30 June 2020. The 66-article law criminalizes four types of acts: secession, subversion of State power, terrorist activities, and collusion with foreign or external forces to endanger national security. It also stipulates the corresponding penalties, which in the most serious cases,…