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26 Jul 2016 at 04:00 / NEWSPAPER SECTION: BUSINESS
Complications Arising from New Stamp Duty Rules
While stamp duty is a type of nuisance tax that tends to be forgotten, failing to comply with its requirements could have distressing consequences. An instrument that is not properly affixed with stamp duty may be subject to surcharges that could climb as high as 600% of the original duty. As well, it could be prohibited from being used as evidence in a court of law.
[Ministry of Strategy and Finance Issues Notice of a New Filing Requirement, and Those Companies Subject to the Comprehensive Report on International Transactions]
Under the amendments to Article 11 of the International Tax Coordination Law (“ITCL”) and Article 21-2 of the Presidential Decree of the ITCL, taxpayers are required to submit an Individual Company Report, and a Comprehensive Report on International Transactions (“Comprehensive Report”) if their annual sales amount exceeds KRW 100 billion (approx. USD 83 million) and annual cross-border intercompany transactions exceeds KRW 50 billion (approx. USD 42 billion).
On December 31, 2015, the Amendment to the Guidelines on the Review of Unfair Trade Practices (“Amendment” and “Guidelines,” respectively) came into effect. The Guidelines are intended to provide guidance to companies about when their unilateral conduct may be considered an “unfair trade practice.”
[Government to Strengthen Investigation of Environmental Crimes through a Newly Established Task Force]
In an effort to strengthen its ability to better enforce major criminal violations of environmental regulations, the Ministry of Environment (the “MOE”) newly established the “Central Environmental Crime Investigation Task Force” (“the Task Force”).
Competition Law Quarterly Update Q2/2016
4 Jul 2016
In this issue, the Drew & Napier Competition & Regulatory Practice Group round up some of the major developments in the competition law world from the first quarter of 2016.
Managaing Intellectual property has come up with its IP Stars 2016 guide on Patents and Trademarks & Copyright and has recozined its senior practitioners under the following categories:
- IP Star Patents; Mr. Pravin Anand
- IP Star Patents; Ms. Archana Shanker
- IP Star Trademarks & Copyright; Mr. Safir Anand
Anand and Anand has been recognized amongst the FT25 Asia Pacific Headquartered law firms in the FT Asia-Pacific Innovative Lawyers 2016 Report.
We are humbled to be the only Asia head-quartered firm to feature in the list of innovators in the category of “Business of Law – Technology”.
ANAND AND ANAND convened a meeting with the ICC and BASCAP officials on 17th May 2016 for assessing the BASCAP 25 Best Practices vis-a-vis the level of copyright and trademark enforcement and protection in India. The discussion panel involved representatives from leading brands and Mr. Pravin Anand who suggested inputs to the proposed document. The document will be submitted to the Indian Government ahead of the BRICS Summit in October 2016.
Yuliya Chumachenko, Partner, AEQUITAS Law Firm
LEASED LABOR  IN KAZAKHSTAN: HAS THE NEW LABOR CODE LEGALIZED IT?
"Legislative activity is like old age – it moves slowly and looks suspiciously at everything." - [A. F. Koni]
As business globalizes, different forms of the leased or so-called atypical labor are going increasingly popular, which cannot be neglected. Whilst not disapproving of this phenomenon in principle, Kazakhstan's labor law, unfortunately, does not always flexibly respond to messages from economy. This is normal athough, as any law is essentially conservative.
There exist several different options of leased labor: outstaffing, outsourcing, etc. The most popular type of leased labor is the so-called secondment – temporary transfer of employees by an employer to another employer.
 In Russian "zayomnyi trud" also translated as "outsourced employment" or "agency employment."
On 1 January 2015 the act to amend regulations for partnerships, as defined under the Austrian Civil Code (GesbR-Reformgesetz – GesbR-RG, BGBl I 83/2014), entered into force. read more...