All You Need to Know About Law Updates On Using Drones in The UAE
The Ministry of Interior (MOI) of the United Arab Emirates has recently introduced a complete ban on the use of drones and light sports aircraft in the UAE. The ban applies to owners, practitioners as well enthusiasts of drones and applies to both air and sailing spots. The new rules have been introduced in coordination …
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Turkey: Independent Board Members
Authors: Gönenç Gürkaynak, Esq., Nazlı Nil Yukaruç and Işıl Ertekin Çokça, ELIG Gürkaynak Attorneys-at-Law
PORTUGAL | The Basics of Decree-Law 109-D/2021
Decree-Law 109-D/2021, of 9 December 2021 (DL 109-D/2021) partially transposes EU Directive 2019/1151 of the European Parliament and of the Council, of 20 June 2019 (“Directive 2019/1151″) to the domestic legal order, whose purpose is to enable the use of digital tools and processes across a broad range companies law areas to set up companies …
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PORTUGAL | EU Directive proposal to prevent the misuse of shell entities for tax purposes
On December 22, 2021, the European Union (“EU”) Commission released the proposal for a Directive to prevent the misuse of shell entities for tax purposes and amending the Directive on Administrative Cooperation in the field of taxation (“DAC”).
BUDGET 2022 HIGHLIGHT: TAXATION ON CRYPTOCURRENCY, A POSITIVE STEP IN AID OF TECHNOLOGY
Introduction On 1st of February 2022, Finance Minister of India, Nirmala Sitharaman, while announcing taxation on Cryptocurrency, in her Annual Budget Speech, projected the positive mindset of policy framers in adopting to changing technological advancements in and around the world. It is said that early bird gets the worm, while, around the world, uncertainty looms …
DAC6 and Hallmark E1 Use of unilateral safe harbour rules in Cyprus
The purpose of this tax bulletin is to shed some light on the use of unilateral safe harbour rules in Cyprus and specifically as to when an arrangement becomes reportable for DAC6 purposes for meeting the requirements of Hallmark E1.
ESG REPORTING AND ITS FRAMEWORK IN INDIA
INTRODUCTION With aggregate ESG assets expected to exceed USD 50 trillion by 2025 (representing more than one-third of the aggregate projected global assets under management (AUM))[1] together with the backing of prominent investors, such as BlackRock and Brookfield[2], ESG investing can hardly be described as merely an investing trend. In India, for example, the AUM …
TO BE OR NOT TO BE: An Assessment of a Pathological Arbitration Clause
The Hon’ble High Court of Delhi, placing reliance on a catena of judgments, has reiterated that the main attribute of an arbitration agreement is consensus ad idem to refer the disputes to arbitration. In the matter of “Sapna Gupta v. Ajay Kumar Gupta & Ors[1].”, it has been held that in case the same is …
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New Directives on Securitisation of Standard Assets – Revamping the Securitisation Landscape?
The Reserve Bank of India (“RBI”) on 24th September 2021, issued the Reserve Bank of India (Securitisation of Standard Assets) Directions, 2021 (“Master Directions”). These Master Directions repeal the existing RBI guidelines on securitisation of standard assets. The Master Directions apply to the following entities:
What are the conditions for engaging joint liability of the administrator/ director/ management bodies of a Romanian company?
One of the problems that the administrators/directors or the management bodies of a Romanian company may face is engaging joint liability for the outstanding payment obligations of the debtor company declared insolvent by tax inspection bodies which are part of National Authority of Fiscal Administration (ANAF).