We acted as legal advisor when the shareholders of Oy Basso Media Ltd. sold all shares of Oy Basso Media Ltd. to Bauer Media Holding Oy. Other financial arrangements were also carried out in connection with the transaction. Basso Media will continue...

In connection with the spread of Covid-19, extensive crisis measures have been announced in the Czech Republic with a major impact on all business activities nationwide. Below we provide answers to frequently asked questions, especially in the area ...

We are continually updating this guide in response to the gradual publication of official information by public authorities. Latest update: 5 May 2020, 17:00 (Restrictions on movement of persons, Mandatory quarantine when crossing borders, Children&...

Welcome to this special COVID-19 edition of our quarterly Global Employment and Labor Law Update which you can find HERE Please do not hesitate to contact us if you wish to find out more....

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Businesses across the world are suffering a variety of different losses as a result of the spread of, and public reaction to, coronavirus.  The answer to the question of whether these losses will be covered by your insurance policies is, as wit...

The UK has suffered widespread damage as a result of recent flooding over the winter of 2019/20, with anticipated losses in excess of £400m. If flood-related interruption to a business is significant, property and business interruption (“BI”) polici...

Summary In this case certain E&Y entities based in London were ordered to pay USD10.8 million for loss of earnings to a whistleblowing former auditor employed by an E&Y entity that was not based in the UK and not party to the proceedings. Th...

As part of the State opening of Parliament, the Queen today set out the government’s plans for legislation over the course of the new parliamentary session.  Disappointingly, however, the Queen’s Speech contained...

By Fan Lulu and Boy Luethje HONOLULU (July 31, 2019)—With more than 800 million Internet users, China has become the global leader in e-commerce—the buying and selling of products and services online. Taobao (roughly “treasure hunt” in English) is the leading Chinese online shopping and e-commerce website, founded by the Alibaba Group. As of 2018, more than 580 million active users visited Taobao and its sister website Tmall every month.

This is a summary only. Click the title for the full article, or visit www.EastWestCenter.org/Research-Wire for more.

By Marcus Noland HONOLULU (August 23, 2019)—For three generations, the United States championed a rules-based multilateral trading system. That stance was overturned by the election of an avowed protectionist, Donald Trump, as president. It would be understandable for Asians to wonder if this shift amounts to a permanent change in U.S. trade policy, and if so, how to proceed. Trump’s presidential campaign was notable in that it emphasized two issues—immigration and trade—that had seldom been in the forefront of U.S. presidential campaigns. But public opinion polls revealed that these issues were of growing importance to a sizeable number of voters whose preferences mirrored Trump’s protectionist positions.

This is a summary only. Click the title for the full article, or visit www.EastWestCenter.org/Research-Wire for more.

By Sherry P. Broder HONOLULU (August 28, 2019)—Since the 1950s when plastics were first produced, more than 150 million tons of plastic debris have accumulated in the world’s oceans. Marine plastic litter includes large items, such as nets, floats, and other fishing debris, plus tiny microplastic particles that are pervasive and practically invisible to the naked eye—but equally harmful. The International Union for Conservation of Nature (IUCN) estimates that more than 35 percent of all the primary plastics that end up in the oceans are microplastics and that most of these tiny particles originate from textiles. Ingestion of plastic particles by fish, bivalves, and other seafood is particularly concerning for humans, in part because little is known about the pesticides that are...

This is a summary only. Click the title for the full article, or visit www.EastWestCenter.org/Research-Wire for more.

By Anu Anwar HONOLULU (November 1, 2019)—Originally announced by Chairman Xi Jinping in 2013, the Belt and Road Initiative (BRI) aims to bolster China’s connectivity with the world. While the name Belt and Road Initiative implies two routes—a maritime road through the Indian Ocean and a land belt across Central Asia—in reality, BRI projects encompass multiple, interconnected global networks. The BRI combines old and new projects, covers an extended geographic region, and includes efforts to strengthen infrastructure development, investment, and cultural ties.

This is a summary only. Click the title for the full article, or visit www.EastWestCenter.org/Research-Wire for more.

A close look at the evidence suggests that China has not been engaged in “debt-trap diplomacy” in the Pacific, at least not so far. Nonetheless, if future Chinese lending continues on a business-as-usual basis, serious problems of debt sustainability will arise, and concerns about quality and corruption are valid. By Jonathan Pryke HONOLULU (March 2, 2020)—In an atmosphere of heightened geostrategic competition, China’s Belt and Road Initiative (BRI) has raised questions about the risk of debt problems in less-developed countries. Such risks are especially worrying for the small and fragile economies of the Pacific.

This is a summary only. Click the title for the full article, or visit www.EastWestCenter.org/Research-Wire for more.

By East-West Center HONOLULU (March 27, 2020)—Population aging is affecting countries all across Asia. This ongoing demographic transition will leave many of the region’s economies increasingly dependent on an aging, and eventually a shrinking, workforce. Economists disagree, however, on whether population aging will necessarily lead to a slowdown in economic growth.

This is a summary only. Click the title for the full article, or visit www.EastWestCenter.org/Research-Wire for more.

By James H. Spencer, Sumeet Saksena, and Jefferson Fox HONOLULU (1 April 2020)—The current COVID-19 pandemic, which started in Wuhan, China, underscores what the public health community has warned about for more than two decades—the risk of viral diseases capable of spreading from animal to human hosts. The first outbreaks of “bird flu” (highly pathogenic avian influenza―HPAI, subtype H5N1) raised similar concerns 20 years ago―concerns that have persisted with the outbreak of SARS in 2002–2004 and COVID-19 today. New outbreaks of avian influenza are also still occurring in poultry and humans, primarily in Asia but also in other parts of the world.

This is a summary only. Click the title for the full article, or visit www.EastWestCenter.org/Research-Wire for more.

In Brief: According to the 2020 budget draft law n°7500, published on 14 October 2019 (the “Bill”), the validity of advance tax agreements (“ATAs”) granted prior to 1 January 2015 should now be limited to five years. Sinc...

  1. Brexit Implications for Social Security Contributions 1.1 If the UK leaves the EU there may be social security implications for UK employers who have employees working in the EU, EEA or Switzerland. If there is a no deal Brexit then action...

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With the delivery of the Medium Term Budget Policy Statement on 30 October 2019, updated and amended draft tax bills have been released highlighting the latest proposed amendments to the relevant tax acts.  The amended bills contain the le...

  Summary On 1 November HMRC published its much anticipated guidance on the taxation of cryptoassets for businesses. The guidance sets out HMRC’s view on the taxation of transactions involving cryptoasset exchange tokens (such as Bitcoin)...

  What’s new? On 20 December 2019, HMRC published an updated version of its guidance on the taxation of cryptoassets for individuals. The guidance was updated to include a new section in respect of the location (situs) of exchange tokens ...

In a difficult economic climate, Minister Tito Mboweni delivered a budget speech, which on the face of it appears to provide a number of positive outcomes, including the provision of personal income tax relief through an above inflation increase in ...

On 18 February 2020, the Council of the EU added the Cayman Islands, along with Palau, Panama and Seychelles to its list of non-cooperative jurisdictions for tax purposes. These territories join eight other jurisdictions (namely, Fiji, Oman, Samoa,...

Given the development of the COVID-19 situation, it was anticipated that the UK government Budget would have a very different focus than originally expected. Trailed as the showcase fiscal policy event of the new Conservative government, it was alw...

The UK government announced at the March Budget that they intend to introduce a requirement for large businesses to notify HMRC where they adopt an “uncertain tax treatment”.  The proposal is designed to improve HMRC’s ability...

  On 26 March 2020, the Chancellor Rishi Sunak proposed a package of tax measures relevant to UK businesses, large and small to help ease the pressures we face from the impact of COVID-19.  One of the measures in force, is the deferral of ...

The main support measures proposed by the government that affect the payment of taxes, fines and penalties On March 31, 2020, the State Duma and the Federation Council of the Russian Federation approved the Draft of Federal Law No. 862653-7, which i...

In the midst of the current COVID-19 pandemic, businesses have been faced with a series of international tax questions on residence, permanent establishments and taxing rights of employee income. The general ambiguity of some of these tests does not...

Where do I lay my hat? Tax residence and permanent establishments in the time of Covid-19 Read the article here > This article was first published in Taxation on 9 April 2020....

German-Luxembourg cross-border commuters Luxembourg and Germany have concluded a mutual agreement (Verständigungsvereinbarung) for Covid 19 related home office activities (für Corona bedingte Home Office Tätigkeiten) on 3 April 2020,...

What you need to know As part of the response to COVID-19 the Government has delayed the introduction of the new IR35 rules (which extend the current IR35 rules that apply to public sector bodies to medium and large private sector organisations) unt...

Retroactive reduction of advance tax payments for 2019 ... Due to the coronavirus crisis, many taxpayers can expect their income to collapse considerably in 2020, leading to losses that can be offset against tax payments. Such losses can be off...

Authorities across the globe are rapidly employing short-term protective measures against the economic impacts of COVID-19. The efforts include measures support businesses and their employees. Our team of tax lawyers is actively monitoring global r...

This edition of our quarterly labour law update contains the following content: News number of days lost to strikes in 2007, the highest in five years trade union membership falls in 2007 <...

The European Parliament agreed to a new 'recast' version of the European Works Council (EWC) Directive on Monday 15 December and this was confirmed when MEPs voted in favour on Tuesday 16 December. The recast EWC Directive is now expected to be...

This edition of our quarterly labour law update contains the following content: News ACAS consults over amended time–off Code of Practice Redundancy and key labour law pointers The outlook for industrial unrest Last minute t...