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Brazil: General Data Protection Law is effective as of 27 August 2020

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The Brazilian General Data Protection Law (Law # 13,709/18 – LGPD) will be effective as of August 27, 2020*. Today, August 26, the Brazilian Senate rejected the House of Representative’s proposal to extend the LGPD’s effective date to December 31, 2020. The House of Representative’s proposal was included in the Bill of Law that resulted from Provisional Measure # 959/2020 issued by the Brazilian President in April 2020, which originally extended the LGPD’s effective date to May 3, 2021.

Colombia: Police plans to procure cyber intelligence system to monitor social media and instant...

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On 10 July 2020, the Colombia National Police Intelligence Directorate (DIPOL) initiated a public bidding process for the procurement of an AI based cyber-intelligence system for DIPOL. Such system would provide the police with access to social media accounts and instant messaging services.

EMEA: COVID-19 Life Sciences Survey (Updated)

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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.

United States: This Week in Government Enforcement

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Please join us for a new weekly video series, hosted by Baker McKenzie's North America Government Enforcement partners Tom Firestone and Jerome Tomas.This weekly briefing is available on demand and will cover hot topics and current enforcement actions related to white collar crime and criminal investigations in the US and abroad to arm you with the information you need to start your business week.As one of the largest global law firms, we will call upon our exceptionally deep and broad bench of white collar experts throughout the world and particularly in the commercial hubs of Europe, Asia, Africa and Latin America to join our weekly discussion series.

Malaysia: Extra Territorial Effect of New Corporate Liability for Corruption Offences

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The new corporate liability provision under Section 17A of the Malaysian Anti-Corruption Commission Act 2009 ("Section 17A") has come into force on 1 June 2020. As highlighted in our earlier client alert (see Link), a company may be held criminally liable under this new provision for acts of bribery committed by its directors, employees or other associated persons.  The only defence available is for the company to prove that it has put in place adequate procedures designed to prevent these corrupt acts.This new corporate liability provision applies not only to Malaysian companies, but also to foreign companies with businesses in Malaysia.

South Africa: Contract Miners Beware – Proposed Tax Amendments to Have Far-reaching Impact on...

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At the end of July 2020, the National Treasury in South Africa released the Draft Taxation Laws Amendment Bill for comment. The Bill includes proposed amendments to both section 15 and section 36 of the Income Tax Act, effectively noting that capital expenditure allowances are only available to taxpayers that hold the relevant mineral rights. The proposed amendment, if passed in its current form, means that contract miners will not be entitled to claim any accelerated capital expenditure allowances, and will have to claim allowances for capital expenditure in terms of other provisions in the Income Tax Act. Denny Da Silva, Senior Tax Advisor at Baker McKenzie in Johannesburg, explains how this will impact contract miners.

International: Digital Tax Services in Latin America

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Baker McKenzie's VAT/Indirect Tax Practice presented 'Digital Services in Latin America,' on 12 August 2020. This was the second presentation in the International VAT Conference Webinar Series, a global webinar series designed for VAT specialists from all industry sectors that aims to discuss the latest developing trends and hot topics in the VAT/GST and customs arena.

Philippines: Amending the rules on determining the fair market value of shares of stock

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The Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 20-2020 dated 3 August 2020, amending RR No. 06-2013 in relation to RR No. 06-2008, governing the imposition of tax on the sale, barter, exchange or other disposition of shares of stock not traded through the local stock exchange. 

United States: Final and Proposed Regulations Issued for GILTI and Subpart F High-Taxed Income...

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On 23 July 2020, the Treasury Department (“Treasury”) and the Internal Revenue Service (“IRS”) published final regulations under Section 951A providing guidance with respect to the high-tax exception, which excepts certain ‘high-taxed’ income from being otherwise taxed as “Global Intangible Low-Tax Income” (“GILTI”). The final regulations maintain the same foreign tax rate threshold to be eligible for a high-taxed income exclusion while simultaneously modifying operational rules that may affect a U.S. individual's decision to pursue the exclusion. In conjunction with these final regulations, Treasury and the IRS issued new proposed regulations conforming aspects of the Subpart F high-tax exception with the newly finalized GILTI high-tax exception, and providing for a single high-tax exception election under Section 954(b)(4). 

United Arab Emirates: Dr. Habib Al Mulla writes to CNN on maritime fraud –...

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The horrific explosion that recently took place at the port of the city of  Beirut is a tragedy for its people. The possible casues of the explosion has brought to mind the cases of maritime fraud that many observers overlook. In recent years, the shipping and maritime trade industry has witnessed a sharp increase not only in the number of fraud cases but also in the diversity and sophistication of fraud. Fraudsters are becoming more creative in laying out and executing their plans, including using modern technology such as computer hacking while also preserving some tried and tested traditional methods, such as document fraud. Ship owners are also finding themselves under pressure to earn new business and, to that end, many of them ignore exercising due diligence when dealing with new business partners. While ports are adopting new technologies this too has the potential to enable new certain types of fraud (such as automating container operations).
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