By EDUARDO BRAVO LOSADA, CPA
At a recent conference, Securities and Exchange Commission (SEC) Chairman Mary Schapiro and senior enforcement officials vowed to increase investor protection through the SEC's expanded authority under the Dodd-Frank Act and initiatives designed to help the SEC enforcement staff to detect proactively and prevent securities law violations.
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By EDUARDO BRAVO LOSADA, CPA
The minister of citizenship, immigration and multiculturalism has announced additional measures to discourage marriage fraud. Under the new proposal, conditional permanent resident status would apply to all spouses in relationships of two years or less who have no children with their sponsor at the time of the sponsorship application.
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By EDUARDO BRAVO LOSADA, CPA
The Migration Advisory Committee has launched a call for evidence to enable it to review various issues around the Tier 2 Codes of Practice and report back to the government. The call for evidence covers a number of topics, including the updating of the list of occupations skilled to National Qualifications Framework 6 to reflect the new Standard Occupational Classification 2010.
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By EDUARDO BRAVO LOSADA, CPA
The partial revision of the Federal Act Against Unfair Competition attempts to revive Article 8, particularly by removing the element of deception. Article 8 will clearly influence the drafting and use of general conditions of contract in future, although only to the extent that consumer contracts in the mass-market sector are concerned. Sellers and suppliers should consider reviewing any general contractual conditions in use in this sector.
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By EDUARDO BRAVO LOSADA, CPA
The Northern District of Florida recently granted a nationwide preliminary injunction against implementation of the new H-2B programme. The injunction was issued in a case brought on the grounds that the Department of Labour had overstepped its authority by requiring companies to provide immigrant workers hired for low-skilled jobs with wage guarantees and travel reimbursements.
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By EDUARDO BRAVO LOSADA, CPA
A position letter from the Ministry of Finance at the end of 2011, setting out its view on beneficial ownership and the taxation of interest on Eurobonds, cast doubt on the tax status of a commonly used structure for Russian companies. After much debate, a draft law appears to have addressed the immediate concerns of investors, but identifying beneficial ownership remains as big an issue for the authorities as for taxpayers.
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By EDUARDO BRAVO LOSADA, CPA
The British Virgin Islands Partnership Act 1996 reflects many recent developments in partnership law and codifies the law for general partnerships, local limited partnerships and international limited partnerships into one piece of legislation.
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By EDUARDO BRAVO LOSADA, CPA
In a recent ruling the Northern Norrland Court of Appeal had to consider two questions regarding commercial agents. First, what type of commercial relationship falls within the Commercial Agents Act's definition? Second, can the act's mandatory provisions regarding severance compensation be applied by analogy in a case where the act does not directly apply?
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By EDUARDO BRAVO LOSADA, CPA
A new decree states that foreign nationals who wish to obtain work permits must pass an examination that covers the Russian language, Russian history and basic knowledge of Russian laws. Highly qualified specialists are exempt, but the requirement will particularly affect the representative offices of foreign companies, as they are ineligible to employ highly qualified specialists.
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By EDUARDO BRAVO LOSADA, CPA
The Delhi High Court recently ruled that a royalty/brand fee was tax deductible, despite continuous losses. This case is typical of the tax authorities' habit of making transfer pricing adjustments by denying contractually valid payments against the background of continuous losses, without delving into the economic rationale, the business requirements or the reality of the situation on the ground.
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