SyCipLaw TMT Bulletin: Philippine Central Bank Issues New FinTech Rules
The Bangko Sentral ng Pilipinas (BSP) (the Philippine Central Bank) has issued two new circulars that will be of interest to companies engaged in remittance services, e-money, digital currency, and other fintech businesses. Both circulars amend portions of the BSP Manual of Regulations for Non-Bank Financial Institutions.
IFLR: “Philippines: Foreign equity ownership decision”
The March issue of the International Financial Law Review (IFLR) includes an international briefing article by SyCipLaw partner Jose Florante M. Pamfilo entitled “Philippines: Foreign equity ownership decision”. The article discusses the Philippine Supreme Court decision on the case of Roy v. Herbosa (GR no. 207246) to invalidate the Securities and Exchange Commission (SEC) Memorandum Circular no. …
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Recent Court Order On Google Related To Protecting Information Rights
Korean appeals court orders Google to disclose to Korean users what personal information Google passed to U.S. government. A Korean appellate court has ordered Google Korea along with its U.S. parent Google Inc. (together, “Google”) to disclose to users of the Google search service, when they so request, the scope and status of the users’ …
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Ecj Case C-28/26 – Recoverability Of Input Vat Of A Holding Company
Case C-28/26 – Examines the right of a holding company to deduct input VAT on services acquired in the interest of its subsidiaries where those services are offered to its subsidiaries with no consideration. On 12 January 2017, the European Court of Justice delivered its judgment in the case of MVM (C-28/16), concerning the right …
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European Commission proposes new VAT rules to support e-commerce and online businesses in the EU
On 1 December 2016, the European Commission has published proposals to improve the Value Added Tax (VAT) environment for e-commerce businesses in the EU. Particularly, the proposed changes, aiming to allow start-ups and SMEs, to buy and sell goods and services more easily online.
Legislative vacuum filled: Czech Republic introduces comprehensive new national legislation on e-cig
New legislation regulating e-cigarettes in the Czech Republic entered into force on 1 March 2017, introducing specific safety and quality requirements on e-cigarettes in the country for the first time. read more…
Investing in Malta- A Property Almanac
Malta has long gained a reputation for a high standard of living with a Mediterranean flair. With the introduction of various programmes related to the attainment of citizenship or residency, many foreign investors have eyed the island as an ideal European solution for immigration purposes with vast potential for stable investment in real estate. In …
EU VAT on Yacht solutions
The yachting industry sails across a dynamic regulatory environment, increasingly leading to more paperwork, administration, checks and procedures. In this context, and considering that yachts are generally a leisure escape, yacht owners are constantly looking for straight forward solutions that allow them to sail their yachts worry-free. Malta has been at the forefront in providing …
NAIF – an AIFMD-Compliant Fund with quick access to the market
Since the advent of the Alternative Investment Fund Managers Directive (‘AIFMD’), fund managers have been facing a double regulatory burden as a result of having both fund managers and funds subject to prudential regulation which led to overlapping and possibly inconsistent regulatory requirements affecting funds.
Doing Business 2017: Equal Opportunity for All
The World Bank Group has released its Doing Business 2017: Equal Opportunity for All report. This is the 14th in an annual series of reports providing objective measures of business regulations and their enforcement in 190 economies. The report focuses on measuring regulations affecting 11 areas: starting a business, dealing with construction permits, getting electricity, …
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