PM Modi launches ‘Transparent taxation – Honoring the honest’
By: Faranaaz Karbhari, Counsel & Mahafrin Mehta, Associate On August 13, 2020, PM Narendra Modi launched ‘Transparent Taxation – Honoring the honest’, a new platform to encourage sincere taxpayers. This platform recognizes the need of creating a modern taxation system and introduces major reforms like Faceless Assessment, Faceless Appeal and Taxpayers Charter.
TO CONDONE DELAY OR NOT: A SHAKESPEAREAN DILEMMA FOR THE INDIAN WRIT COURTS
INTRODUCTION The Division bench of the Hon’ble Supreme Court of India (“SC” / “Supreme Court”) comprising of Hon’ble Justice Mr. A.M. Khanwilkar and Hon’ble Justice Mr. Dinesh Maheshwari, in Assistant Commissioner (CT) LTU, Kakinada & Ors. v. M/s Glaxo Smith Kline Consumer Health Care Limited[1] vide judgment dated May 6, 2020, decided as to whether …
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The KFTC rules that the Practice of Tying Patented LNG Technology with Engineering Assistance Services is Illegal
On November 25, 2020, the Korea Fair Trade Commission (the “KFTC”) imposed a fine of USD 11 million on Gaztransport & Technigaz (“GTT”), a multinational engineering company headquartered in France, for abusing its market dominance in liquefied natural gas (LNG) container tank technologies (the “LNG Technology”). Although GTT argued that the tying of its patented …
Bill to Amend the Monopoly Regulation and Fair Trade Act Passed by the National Assembly
In August 2018, the Korea Fair Trade Commission (the KFTC) drafted a bill to substantially amend the Monopoly Regulation and Fair Trade Act (the MRFTA) and submitted the amendment bill to the National Assembly in November 2018. However, only certain portions of the amendment bill which dealt with procedural regulations were passed by the National …
ROMANIA IS ENACTING THE SECONDARY LEGISLATION PERTAINING TO CYBERSECURITY IN AN EFFORT TO AVOID EUROPEAN SANCTIONS
Background On October 30, 2020, the European Commission sent a reasoned opinion[1] regarding Romania’s failure to notify the national measures allowing for the identification of operators, the number of operators of essential services and the thresholds used in the identification process. The notification process is part of the implementation process of the Directive (EU) 2016/1148 …
Covid-19 and Supply Chain Breach of Contracts. Who is accountable?
Who will be considered accountable for the losses, in the cases where suppliers are not able to meet customers’ order and delivery obligations, due to COVID-19 outburst?
Obligation to inform ZUS about the concluded contracts for performance of a specific task
Starting from 1 January 2021, a payer of contributions or a person commissioning performmance of a specyfic task will be obliged to inform the Social Insurance Institution (ZUS) about every contract for performance of a specific task.Registration will not be necessery only in cases where the contract for performance of a specific task is concluded …
Ukrainian banks vs unfair corporate debtors: the recent context
Non-performing loans (NPL) are one of the most popular types of credit contract breaches that substantially distorts the economy of any country and damages the health of the banking system as a whole. In Ukraine, the issue is especially acute: nearly a half the of credit portfolio of Ukrainian banks is non-performing.
REGULATION ON AMENDING THE REGULATION ON TRADE OF SECOND HAND MOTOR LAND VEHICLES
Within the scope of the Regulation on the Trade of Second Hand Motor Vehicles, Article 2/1;
Obligations Introduced by the Law No. 5651 Law on Amendment the Law About Regulation of Publications
The Law No. 5651 on the Amendment of the Law on the Regulation of Publications Made on the Internet and Fight Against Crimes Committed Through These Publications (“Internet Law”) was published in the Official Gazette No. 31202 on 31/7/2020. With the amendments that have occurred, large-scale regulations have been made and sanctions have been imposed, …