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Overview (January 2021)
Kozusko Harris Duncan
  • Private Client & Offshore Services
  • USA
  • 28 January 2021

A new administration at the federal government level may mean tax law changes during 2021. Although unlikely to apply retroactively, advisers to international families should keep an eye on US tax developments, including increased information reporting. This overview provides a summary of the general framework for US gift, estate and generation-skipping transfer taxes and describes some of the many income tax and reporting obligations imposed on both US and non-US persons.

What is capital gains tax?
Forsters LLP
  • Private Client & Offshore Services
  • United Kingdom
  • 28 January 2021

Capital gains tax (CGT) is a tax on the gain in value made when an individual disposes of a capital asset such as a residential property. Most people's homes are exempted from the charge due to principal private residence relief (PPR), which relieves any charge on an individual's only or main residence. However, individuals must be wary of unexpected CGT bills on their main home. The most likely cause of this is the property not being the main residence for a period, meaning that PPR has to be pro-rated.

Conventional wisdom in arbitral proceedings
Obeid Law Firm
  • Arbitration & ADR
  • International
  • 28 January 2021

This article analyses the role of conventional wisdom in the promotion of efficient arbitration proceedings. It identifies numerous ideas and principles which are generally accepted and ensure the functioning of the arbitration process. However, questioning the meaning of conventional wisdom and identifying the principles which constitute it first requires an examination of the foundations of international arbitration.

Determining arbitrability of disputes is courts' prerogative
Khaitan & Co
  • Arbitration & ADR
  • India
  • 28 January 2021

The Delhi High Court recently granted an anti-arbitration injunction in relation to an arbitration invoked in accordance with the terms of a family trust deed, which provided for arbitration to be governed under the aegis of the International Chamber of Commerce, by holding that disputes in relation to trusts are non-arbitrable. The court ruled that it is the prerogative of the courts (and not arbitral tribunals) to determine the arbitrability of a dispute, notwithstanding the competence-competence principle.

CEZ's acquisition approved after reassessment of prohibition
Schoenherr
  • Competition & Antitrust
  • Bulgaria
  • 28 January 2021

In August 2020 the Commission for the Protection of Competition (CPC) reopened its in-depth review of the sale of CEZ's Bulgarian assets to Eurohold. Based on the collected data in the course of the investigation, the CPC concluded that the merging of two large economic groups operating in the electricity and insurance sectors did not create or strengthen a dominant position of the affected markets in which the parties operate. The CPC unconditionally cleared the transaction.

Spar will create opportunities for local small producers as redress for abuse of significant market power
Schoenherr
  • Competition & Antitrust
  • Hungary
  • 28 January 2021

The Hungarian Competition Authority's (HCA's) recent decision in an abuse of significant market power case against Spar has created a forward-looking solution which is unprecedented in such cases. As a proactive reparation for the competition infringement and in order to avoid an HCA fine, the supermarket chain will develop a new regional supply system. The programme will have a budget of HUF1.7 billion and will not only improve small producers' sales opportunities, but also create new jobs.

Role of digital yuan in gaming industry
Rato, Ling, Lei & Cortés Advogados
  • Private Client & Offshore Services
  • Macau
  • 28 January 2021

Although the Macau regulator has reported that the potential use of a digital yuan in Macau's casinos is 'fake news', this new form of currency could jeopardise the gaming promotion activity that has underpinned the entire industry since the 1980s. A centralised, trackable and seizable digital currency would provide never-before-seen visibility over clash flows to the city cages. This could singlehandedly cut off the shadow banking and money laundering activities that have plagued economies worldwide.

Anticipating NTSB investigations – how best to prepare
Wilson Elser
  • Shipping & Transport
  • USA
  • 27 January 2021

The National Transportation Safety Board (NTSB) investigates aviation, railroad, highway, marine and pipeline accidents to determine their probable cause and issues safety recommendations to reduce the risk of future accidents. This article provides companies with an overview of how they can best prepare for NTSB investigations into transport accidents.

Dawning of a new age: proposed legislation shapes future of aviation
HarleyJames
  • Aviation
  • Bahamas
  • 27 January 2021

The introduction of three new bills will herald the dawning of a new age in aviation in The Bahamas and position the jurisdiction to attain the international recognition that it deserves. These bills – the Civil Aviation Bill, the Civil Aviation Authority Bill and the Air Navigation Services Authority Bill – address the issues arising from, and remedy the defects found in, the 2017 International Civil Aviation Organisation audit, the current Civil Aviation Act and the Civil Aviation (General) Regulations.

Skilled Worker visa provides new options for foreign workers
Lewis Silkin
  • Employment & Immigration
  • United Kingdom
  • 27 January 2021

Under the new immigration system launched on 1 December 2020, the skilled worker route has replaced Tier 2 (General). Benefits for employers include the fact that there are fewer restrictions on switching to the Skilled Worker visa from within the United Kingdom, the skills threshold has been lowered to Regulated Qualifications Framework Level 3, the salary thresholds have been reduced and the resident labour market test has been removed.

Counting the cost – Court of Appeal rules that budget considerations can justify indirect discrimination
Lewis Silkin
  • Employment & Immigration
  • United Kingdom
  • 27 January 2021

In a recent case, the Court of Appeal revisited the so-called 'costs-plus' rule and considered the extent to which employers can rely on cost and budget considerations when justifying policies that may disadvantage some protected groups. If employers have a policy which is indirectly discriminatory and their aim is no more than to save money, the Court of Appeal has ruled that this cannot justify the discrimination. However, needing to balance the books can be a valid justification for indirect discrimination.

Termination ban, unilateral unpaid leave and short-time working allowance extended again
Gün + Partners
  • Employment & Immigration
  • Turkey
  • 27 January 2021

Pursuant to three presidential decrees recently published in the Official Gazette, the termination ban and unilateral unpaid leave, which were due to expire by 17 January 2021, have been extended until 17 March 2021. Further, the short-time working allowance granted to workplaces which had applied until 31 December 2020 has been extended until 28 February 2021. Similarly, the application deadline for the short-time working allowance has been extended until 31 January 2021.

COVID-19-tested flights: an extra weapon in the fight against the pandemic
Studio Pierallini
  • Aviation
  • Italy
  • 27 January 2021

Rome Fiumicino Airport is the first Italian airport, and one of the first worldwide, to have implemented a protocol to operate COVID-19-tested flights. Pursuant to the applicable ministerial decree, in order to be exempt from mandatory quarantine on arrival in Italy, passengers must show a certificate proving a negative molecular COVID-19 test or an antigen rapid test, carried out within 48 hours before the flight. Otherwise, they must undergo an antigen rapid test at the departure airport directly before boarding.

Making Remote Work – the government's National Remote Work Strategy
Lewis Silkin
  • Employment & Immigration
  • Ireland
  • 27 January 2021

The government has launched the 'Making Remote Work' National Remote Work Strategy, which aims to ensure that remote working "is a permanent feature in the Irish workplace that maximises economic, social and environmental benefits". Under the strategy, the government promises to, among other things, mandate that remote work be the norm for 20% of public sector employees and develop a code of practice for the right to disconnect.

Hello 2021, goodbye COVID-19? Navigating employment risks in a post-2020 world
Pinsent Masons
  • Employment & Immigration
  • United Arab Emirates
  • 27 January 2021

Many businesses appear to be more optimistic about the economic opportunities ahead in 2021. However, with news of a more virulent COVID-19 strain spreading internationally and a continuing impact on business travel, client meetings and office attendance, companies and HR managers must continue to be proactive, mindful and practical in relation to their workforce management. This article discusses five key areas of concern for businesses and the associated practical considerations.

Court rules that parking of goods trailer on lit roadside constitutes gross negligence
WSCO Advokatpartnerselskab
  • Shipping & Transport
  • Denmark
  • 27 January 2021

The Maritime and Commercial Court recently determined whether a Danish carrier was liable for the theft of €172,000 worth of toys which had been stolen from a subcarrier's trailer while it was parked at night. In its decision, the court considered whether the parking spot complied with the safety arrangements set out in the transport agreement.

Withdrawal of wreck removal order following consideration of proportionality
Wikborg Rein
  • Shipping & Transport
  • Norway
  • 27 January 2021

In a recent administrative appeal decision, the Norwegian Coastal Administration (NCA) Head Office reversed the wreck removal order issued by the NCA Emergency Response Centre in respect of a cargo ship which sank in northern Norway in 2017. The decision confirms that the pollution authorities will consider the proportionality of the measures ordered when exercising their administrative discretion.

Navigating floating LNG projects – hints and tips for owners
Wikborg Rein
  • Shipping & Transport
  • International
  • 27 January 2021

Often the procurement of a floating asset will be on a public or private competitive procurement basis and vessel owners will be asked to compete with others in the market. This article explores some of the key issues facing vessel owners when bidding for and negotiating floating liquefied natural gas projects, whether for floating liquefaction or floating storage and regasification units.

The new normal? COVID-19 legislation: travel restrictions
Augusta Abogados
  • Aviation
  • Spain
  • 27 January 2021

Since the World Health Organisation declared the COVID-19 outbreak a pandemic on 11 March 2020, governments worldwide have made significant efforts to cope with this unforeseen situation and control the spread of the virus. A complex maze of laws, regulations, directives, recommendations and instructions has made it difficult to identify the obligations of air passengers. This article looks at the various travel restrictions which have been introduced in Spain to help combat the spread of COVID-19.

Can interveners apply to set aside a warrant of arrest of a vessel on non-traditional grounds?
Shearn Delamore & Co
  • Shipping & Transport
  • Malaysia
  • 27 January 2021

In a recent case, the Admiralty Court considered whether, in an admiralty action, an intervener (ie, a party other than the proper defendant) can apply to set aside a warrant of arrest of a vessel on non-traditional grounds. The court's decision shows that it has the inherent power to lift, discontinue or set aside a warrant of arrest on account of the arresting party's failure to comply with an order of the court.

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