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Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Legal Developments Worldwide

Solidarity contributions on company cars

July 2014 - Employment. Legal Developments by Claeys & Engels law firm.

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The NOSS makes a distinction between utility vehicles and other vehicles with respect to the notion of ‘home-to-work travel'.

In its latest version of its instructions for employers, the NOSS states that home-to-work travel undertaken using a utility vehicle cannot be considered as "home-to-work travel" for the purposes of the solidarity contribution on company cars. A utility vehicle is a vehicle which is, from a fiscal point of view, a light-duty vehicle.

 

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More favourable tax regime for night and shift premiums

July 2014 - Employment. Legal Developments by Claeys & Engels law firm.

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In the framework of the Recovery Act of 15 May 2014, tax measures were foreseen amongst other things to increase the competitivity of undertakings.

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Restructuring under the single employment status

July 2014 - Employment. Legal Developments by Claeys & Engels law firm.

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Outstanding issues concerning the shortening of notice periods in the context of the unemployment with company allowance system and the reimbursement of the activation indemnity have finally been resolved

 

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Civil Aviation in Turkey: A Fine Balance Between Growth and Regulatory Tendencies

July 2014 - Transport. Legal Developments by HERDEM Attorneys At Law.

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General Framework

Global civil aviation industry is expected to register a 5% passenger growth for the next two decades. The growth in the industry is mainly generated by the growing number of passengers in Asia and the Middle East.  Such a geographical concentration is no surprise given the fact that the global economic balances have been shifting towards the Asia-Pacific region and the emerging markets are behind the economic growth in many business sectors around the world. As the emerging economies are lifting up hundreds of millions people from poverty to join the bourgeoning middle class, the number of passengers grow and the civil aviation industry benefits from this transformation like the remaining sectors of the transportation industry.

Strong Regulatory Base of the Turkish Banking Sector Amid Mixed Signals

July 2014 - Finance. Legal Developments by HERDEM Attorneys At Law.

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Mixed signals are recently coming from the Turkish Banking sector. The industry, on the one hand, has recently seen an unprecedented levels of volume which is estimated to be USD$ 855 billion to dwarf the economic might of 22 of the 28 EU member states and on the other hand has been witnessing a reduction in the credit volume that went down to 1.130 trillion Turkish liras as of the July 2014. It is not easy to comprehend the meaning of such conflicting signals emanating from the Turkish banking industry. In order to make sense of the current shape that the Turkish banking industry takes, it is better to see the bigger picture in Turkey which has been leading the Turkish authorities to regulate the industry in increasing frequency.

Bitcoin – rebellion against the banking system

July 2014 - Finance. Legal Developments by Kancelaria Prawna Skarbiec.

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Creation of something out of nothing, based on nothing, guaranteed by no one, persuading people that this something is worth anything - we wonder how much longer it will last and how many people will be worse off because of it.

 

The view reflected above is one of many comments coming up within the framework of discussions about bitcoin - i.e. a digital system with payment functions, created between 2008-2009, continuously gaining popularity. The above opinions are not isolated, yet it does not change the fact that there has been a steady increase of the number of bitcoin users amounting to several millions. As noticed by the Ministry of Finance - bitcoin constitutes an agreed payment means for a specific social group, dealing with which is not in conflict with Polish law.

Let us be clear - the criticism indicated at the beginning does not fully reflect the truth. Let's risk a thesis - virtual coins have no value; if they did they may only have re-acquired it. The greatness of - including the value of - bitcoin is the goal constituting basis for its creation, which effectively concentrates its biggest assets - its liberty and political independence.

 

European Directive on intra-corporate transfers to the EU

July 2014 - Employment. Legal Developments by Claeys & Engels law firm.

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Combined residence and work permit to be available for executives, specialists and trainees who are temporarily being transferred from outside of the EU to a European entity of their employer's group

On 15 May 2014 Directive 2014/66/EU was adopted. This Directive obliges EU Member States (excluding the United Kingdom, Ireland and Denmark) to provide a combined residence and work permit for intra-group transfers by the end of 2016. This is the first work permit that will allow its holders under certain conditions to work in multiple Member States for entities belonging to the same group and located in different EU Member States.

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Act of 25 April 2014 on the status and supervision of credit institutions

July 2014 - Employment. Legal Developments by Claeys & Engels law firm.

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A stricter regulation of the remuneration policy of credit institutions

For those credit institutions falling within its scope, the new Law imposes strict obligations for their remuneration policies.

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Compensation employees' professional mileage: the maximum amount of compensation has changed

July 2014 - Employment. Legal Developments by Claeys & Engels law firm.

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As from 1 July 2014, the maximum amount of the fixed mileage compensation is set at 0.3468 EUR per kilometer.


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A practical guide to re-domiciliation: Relocating from Greece to Cyprus

July 2014 - Corporate & Commercial. Legal Developments by Drakopoulos Law Firm.

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In the wake of the fallout from the global financial crisis and subsequent recession, businesses start reassessing their corporate affairs and company re-domiciliation comes as a trend amid escalating corporate tax rates and sweeping regulatory changes. Opting for its re-domiciliation, a company may shift its domicile from one jurisdiction to another by changing the country under whose laws it is registered, without losing its corporate identity.