The Mumbai Tax Tribunal recently ruled in a case concerning the threshold for determining whether a taxpayer has a service permanent establishment in India, finding that the multiple counting of employees on a particular day is prohibited under the India-UK tax treaty. Further, the tribunal held that since the employee in question had been on leave and no other employee of the taxpayer had rendered services in India, the employee's leave period had to be excluded from the threshold calculation.
Senate Bill 220 was recently signed into law, making Nevada the first state to join California in granting consumers the right to opt out of the sale of their personal information. However, the new privacy law is significantly narrower than the California Consumer Privacy Act (CCPA). For example, it applies only to online activities, defines 'consumer' and 'sale' more narrowly than the CCPA and includes broad exceptions for financial institutions subject to the Gramm-Leach-Bliley Act.
In light of the continuous developments and ambiguity surrounding the Brexit negotiations, as well as the uncertainty facing British citizens who currently reside in EU member states, the Maltese government recently propagated regulations concerning the residence and employment rights which will be upheld for British citizens who already reside and work in Malta. The regulations are set to come into force in the event of a no-deal Brexit.
The Bahamas has an unregistered land system that is based on the conveyancing laws of England and Wales issued before 1925. Therefore, deeds and documents should be recorded in the Registry of Records in The Bahamas as soon as possible in order to notify the international community as to the existence of ownership and interests in a property and secure priority against the subsequent recording of any mortgage, charge or agreement in the registry which can potentially affect title to a property.
The Committee on Foreign Investment in the United States (CFIUS) is drafting the implementing regulations for the Foreign Investment Risk Review Modernisation Act. Foreign investors are closely following how CFIUS will decide to exercise its new 'country specification' authority – specifically, whether CFIUS will create either a negative or positive list of specific countries whose transactions are, respectively, either required to undergo CFIUS review or exempt from CFIUS review.
The Bahamas has an unregistered land system that is based on the conveyancing laws of England and Wales issued before 1925. Therefore, deeds and documents should be recorded in the Registry of Records in The Bahamas as soon as possible. Priority becomes particularly important in high-net-worth commercial and condominium development transactions.
In a recent case, the Supreme Court delivered an important judgment in which it exercised its inherent supervisory powers over trusts to appoint protectors. The court also reaffirmed the wide breadth of its jurisdiction under Section 47 of the Trustee Act 1975 to grant trustees power to vary trusts when it is satisfied that it is expedient to do so.
When one or both parties to a marriage have a connection with another country in addition to England and Wales, there are international considerations and implications to take into account when considering a nuptial agreement. This could be because of where they live, their domicile or nationality or where their assets are based. Among other things, couples should consider where an agreement should be drawn up and whether an English nuptial agreement will be upheld abroad.
The International Chamber of Commerce Commission recently published an update to its report on construction industry arbitration, focusing on recommended tools and techniques for effective management. The report is a helpful reminder for practitioners and arbitrators of the procedural mechanisms available which are particularly relevant to the conduct of arbitration in the construction sector.
The question of whether a contract can be amended retroactively was raised in the arbitration proceedings between Ssangyong and the National Highways Authority of India. The Supreme Court's ruling on the case is a welcome exposition on the contours of Section 34 of the Arbitration and Conciliation Act, especially in relation to challenges on grounds of violations of principles of natural justice.
Increasingly stark and startling messages relating to the environment and climate change are now commonplace in the media. That is why it is so refreshing to know that Guernsey is taking a leading role on the world stage and using its strengths to produce a significant positive impact, including through the implementation of the Guernsey Green Fund.
The Taxation Law 2019 has introduced new economic substance requirements which apply to certain Jersey tax-resident companies. The requirements were passed to comply with the EU Code of Conduct Group on Business Taxation for the purpose of demonstrating that the profits generated by Jersey companies which carry on certain specified geographically mobile activities are commensurate with their economic activities and substantial economic presence in Jersey.
The European Commission's report 'Competition policy for the digital era' is its most substantial step yet towards crystallising the dialogue on the question of how competition law could or should adapt to the rapidly changing technological landscape and the growing role of the digital economy. However, while the report touches on a wide range of ideas and proposals, it openly notes that not all of these are developed in detail or go beyond "very preliminary" conclusions.
The Competition Commission of India (CCI) recently imposed a penalty on Italian company Esaote SpA – a world leader in dedicated magnetic resonance imaging (MRI) – and its Indian subsidiary. According to the CCI's order, the Esaote group had abused its dominant position in the market through its sale of dedicated standing/tilting MRI machines to the informant. However, the CCI chair disagreed with the relevant market adopted by the majority of the commission.
Non-compete restrictions are the tool most commonly used by employers to protect their proprietary interests following the end of an employment relationship, particularly in the case of C-suite employees. However, non-compete restrictions which apply beyond the term of an employment relationship are generally unenforceable in India. That said, this does not mean that employers have no recourse whatsoever.
The perennial conversations around restrictive covenants in employment contracts and service contracts of a similar nature are familiar. Employers want maximum restriction on employees who leave but must be careful not to overstep the mark as covenants which are unduly restrictive risk being struck out by the courts.
The Bahamas' flight information region airspace comprises tens of thousands of miles and is subject to significant overflight activity. Moreover, it is one of the most important airspaces and is worth millions in revenue. To further enhance the civil aviation sector, the government is seeking to create a self-funded and sustainable management programme in order to collect overflight fees, while paying the US Federal Aviation Administration a fee for the management of its airspace.
The Federal Department of Foreign Affairs (FDFA) recently opened a consultation procedure on the Strasbourg Convention on the Limitation of Liability in Inland Navigation 2012 and its implementation (ie, an amendment to the Swiss Maritime Navigation Act). The FDFA's proposal has been welcomed and is considered a necessary step towards Switzerland ensuring a level playing field for the inland navigation industry.
The Commodity Futures Trading Commission (CFTC) has proposed the first instalment of a series of amendments to its rules relating to swap data repositories and the reporting of swap data. The proposed amendments, which would affect Parts 23, 43, 45 and 49 of the CFTC's regulations, implement the CFTC's Roadmap to Achieve High Quality Swaps Data and are intended to improve the quality and accuracy of data available to the CFTC and the public and to streamline data reporting.
The Civil Aviation (Security) Regulations 2019 (Security Regulations) recently entered into force. Among other things, the regulations have established new aviation security authorities, implemented national security programmes and introduced new security and screening controls. Passengers, operators (including aerodrome operators), ground handlers and other persons who fail to comply with the Security Regulations could face a fine of up to RM200,000 or up to five years' imprisonment (or both).