The COVID-19 pandemic has not gone away and the prolonged business issues will continue to affect various market players in the short and long-term. As anticipated, this has resulted to a rise in increasingly complex disputes across all industries in the Middle East and North Africa (MENA) region as well…
In brief The Advocacy and Competition Law Secretariat of the Ministry of Economy (SEAE) published last Wednesday Public…
The Russian Federal Tax Service (the “FTS”) has issued a letter clarifying the provisions of Article 54.1 of the Russian Tax Code on tax avoidance, outlining a methodology for tax inspectorates on how to identify misrepresentations of business operations, check material facts and intent to use sham or “fly-by-night” companies. It also provides taxpayers with criteria for counterparty due diligence, which should eliminate the possibility of their subsequent tax liability.
In addition, the FTS has finally admitted the need for so-called “full tax reconstruction” (a comprehensive reclassification of transactions previously applied only by the courts) and the ability to deduct actual expenses for corporate profits tax purposes and to offset input VAT on transactions with sham companies. However, this is possible only if a taxpayer discloses the actual suppliers and financial terms in such transactions.
In brief In December 2019, the Whistleblowing Directive1 came into force (see our Client Alert). Under the Directive, whistleblowers who disclose grievances in companies or public authorities are to be comprehensively protected throughout the Union. The EU member states are required to implement the Whistleblowing Directive into national law by 17 December…
In brief In a recent article for Compliance & Risk Journal, we explore the issues involved with investigating…
Click here to watch the video. The PRC Civil Code (1,260 articles in total), together with the PRC…
ASIC has released a new immunity policy setting out the process and conditions for whistleblowers to obtain immunity from certain civil penalty or criminal proceedings (Immunity Policy). The Immunity Policy extends the types of protection available to a whistleblower beyond those which became available under the Treasury Laws Amendment (Enhancing Whistleblower Protections) Act 2019 (Cth) (Whistleblowing Legislation) which came into force in 2019. As a result there is an increased risk that employees may elect to go direct to ASIC rather than raising an issue internally.
In this publication, our lawyers from different practice groups discuss the trends in compliance and investigations of 2020 in Germany. We take a look at the most important developments and court decisions of2020. Discussing these trends will help companies doing business in Germany to grasp the developments in the area of compliance and investigations in the future. After providing a general overview and presenting the highlights of the developments in the last year, each practice group will outline the developments in their respective practice areas in greater depth.
In a recent action brought before the Singapore High Court, the summary dismissal of Wong Sung Boon by Fuji Xerox Singapore Pte Ltd (“FXS”) was found to be without basis and unlawful, and FXS was ordered to pay damages of SGD 1.4 million. In assessing the quantum of damages, the High Court re-affirmed the minimum obligation rule. This case illustrates the importance of ensuring that summary dismissals are carried out in accordance with the law and the decision to summarily dismiss an employee must be taken with due care.
The EAT has given some further guidance on when a disclosure can reasonably be viewed as made in the public interest for the purposes of qualifying for whistleblower protection. In this case, an allegation that a solicitors firm had overcharged a single client was capable of being in the public interest.