The Voluntary Leave Program as an alternative solution to the collective redundancy procedure
Employers who hire at least 20 employees and, due to the difficult economic situation, intend to terminate employment agreements with a considerable group of employees, are obliged to carry out a collective redundancy procedure.Pursuant to the applicable provisions of the act on collective redundancies (Act of 13 March 2003 on the Specific Principles for Terminating …
Verdict of the CJEU as a chance to recover VAT for bad debt relief
On 15 October 2020, the Court of Justice of the European Union (hereinafter: CJEU) give their verdict regarding a Polish company: E. sp. z o.o. sp.k. against the Polish Minister of Finance (case no. C-335/19), regarding the compliance of Polish provisions within the scope of bad debt relief in VAT with EU regulations.
CIT 2021: Key changes for the real estate sector
We would like to draw your attention to the revolutionary changes in taxation of business entities, which are included in the government’s bill amending the Act on Personal Income Tax, the Act on Corporate Income Tax, the Act on Lump Sum Income Tax on Certain Incomes Earned by Natural Persons and certain other acts (print …
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200% Tax Deduction in Thailand for Investment in Automation System
On 21 September 2020, the Ministry of Finance has announced a tax incentive to promote investment, improve industrial capacity, enhance global competitiveness, and encourage relocation of a production facility. The incentive is on a tax exemption measure allowing 100% additional tax deduction for the purchase of (1) machinery; and (2) software for its automation system.On 21 …
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COVID-19: Don’t Get Infected and Suffered for Free. Sue the Infector and Claim Your Damages!
Introduction Malaysians were frustrated about the news on several individuals’ failure to disclose vital information related to COVID-19 to the relevant authorities during medical examinations.
COVID-19 and Operational and Supply Chain Disruptions: Navigating the Legal Risk
The IHS Markit Malaysia Manufacturing Purchasing Managers’ Index – a performance indicator of the manufacturing sector – dropped to 48.4 in March 2020 from 48.5 in February 2020, reflecting a decline in the performance of Malaysia’s manufacturing sector.1 The COVID-19 global pandemic has placed companies in the manufacturing industry in a precarious position, with government restrictions …
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Combating COVID-19: Legal Requirements and Procedures for the Importation of Vaccine into Malaysia
Introduction On 11 March 2020, the World Health Organization (“WHO”) declared the COVID-19 outbreak as a pandemic. Until today, COVID-19 has affected 203 countries and territories around the world and 2 international conveyances (Diamond Princess cruise ship and MS Zaandam cruise ship). In order to stop the spread of COVID-19 virus, a nationwide movement control …
COVID-19: Impact on Entering Into and/or Completing of Mergers & Acquisitions (M&A) Transactions
The world is reeling from the on-going effects of the COVID-19 pandemic with the consequential effects of lockdowns and restricted movements choking businesses and economic activities. All of these are likely to have a major impact on target companies and their businesses with more counterparties to the target companies looking to suspend, terminate or even …
COVID-19: Impact on Mergers and Acquisitions in Malaysia
In October 2019, research and consultancy firm Oxford Economics expected the number of mergers and acquisitions (M&A) transactions in Malaysia to increase up to 221 deals in 2020, from an expected 218 deals in 2019. It was also observed and anticipated that Malaysia may be a beneficiary of the change in supply chains arising from …
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COVID-19: The Effects on the Malaysian Capital Market
Introduction: On 16 March 2020, the Prime Minister of Malaysia, had announced the imposition of a fourteen (14) days movement control order (“MCO“) from 18 March to 31 March 2020 nationwide to curb the spread of the COVID-19 infection in Malaysia.1 Subsequently on 25 March 2020, the Prime Minister further announced that the MCO is to …
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