 | INTERNET LAW - Looming US tax Deadline to Catch Australians Unaware |
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| | Arriarne Kemp-Bishop, Freehills, arriarne.kemp-bishop@freehills.com
Wednesday, October 22, 2008
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| | Many Australian companies and individuals may not be aware of a 31 December 2008 deadline for compliance with a new United States tax provision, according to law firm Freehills. Section 409A of the United States Internal Revenue Code applies to companies which have a listing of any kind in the United States, as well as to US citizens or tax residents working abroad who are taxed on their worldwide income, and to non-residents working in the United States and subject to US tax. Peggy Haines, corporate partner with Freehills in Melbourne, says documents need to be amended and updated by 31 December, when the transitional period for section 409A compliances ends, so that penalty tax does not apply to an individual's remuneration.
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| INTERNET LAW - Legal Overview on Franchise Regulations in Indonesia |
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| | IBLS Contributor: Bambang Pram Said, Said, Sudiro & Partners Indonesia, mail@ssplegal.com
Wednesday, October 15, 2008
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| | The term “franchise” was introduced by Isaac Singer in 1851. In general, franchise refers to an approval by the owner of particular products or services (the “Franchisor”) granting rights to another party to use or to market such products or services under a certain terms and conditions.
The Franchisor utilizes the franchise system as an alternate scheme to expand a business rapidly. The Franchisor does not have to provide huge amount of capital to operate in the new market areas. The capital will be derived from the party granted the right to use or to market the products or services (the “Franchisee”). Furthermore, the Franchisor can be less concerned about the management of the branches, as the management will be taken care by the Franchisee.
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| INTERNET LAW - Internet Economy Surges Despite Global Slowdown |
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| | IBLS Editor
Monday, May 12, 2008
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| | Despite repeated reports of bad economic news in many sectors, the Internet continues its global expansion, giving great comfort to those still trying to understand what a world marketplace with a dwindling oil supply will look like. While some segments of the U.S. economy are slowing, online sales are growing, and recent figures show that e-commerce transactions are growing four or five times faster than traditional retail, according to Rob Atkinson, president of the Information Technology and Innovation Foundation. Atkinson made his comments at a recent forum on the state of the Internet economy at Google's brand new Washington D.C. office.
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| INTERNET LAW - The Internet Creates Job Opportunities for Particular Members of Society |
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| | IBLS Editorial Department
Monday, February 25, 2008
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| | Social studies report that a small group of individuals have become Internet addicts and this addiction isolates them from family and society. Yet, internet addicts are a very small group of society and their addition may be linked to individual characteristics more than to the Internet itself. Instead, more common sociological effects of the Internet use show that it creates corporate efficiency and services, keeps employees and employers communicated, provides an additional communication source for family members, opens the door for unlimited information and resources, and more importantly, provides job opportunities and new and simpler ways of doing business for individuals in certain sectors of society: retired, housewives, students, disabled, among others. This article informs on how Internet is helping some specific sectors of our society in finding jobs and new working opportunities.
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| INTERNET LAW - Colombia Cross-border Distribution Activities |
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| | IBLS Contributor: By Laura Cecilia Ramírez Bogota, Colombia
Wednesday, December 12, 2007
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| | Non-domiciled entities are subject to income tax on their Colombian-source income, which originates in the exploitation of tangible and intangible goods within Colombian territory; in the transfer of assets that are located in our country when the transfer takes place; and in the provision of services within Colombian territory.
(ii) As a rule, considerations paid for activities performed in Colombia by foreign non-domiciled entities are subject a 34% (FY 2007) (33% (FY2008 and following years) income tax withholding.Non-domiciled foreign entities are not required to file income tax returns in Colombia, provided that their Colombian-source income was entirely subject to the tax withholdings described in articles 407 to 411 of the Tax Code (i.e., income derived fromdividends, financial earnings, fees, royalties, leases, technical assistance, technical services, and exploitation of intangibles and software).
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| INTERNET LAW - Work Permits in Turkey |
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| | IBLS Charter Partner: Eda Kilic Esq., Just & Fair law Firm, www.justandfair.com
Wednesday, September 19, 2007
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| | Foreign nationals working in Turkey need to obtain a work permit, working visa and a residence permit in order to be eligible to work and reside in Turkey, unless exempted from such requirements by special provisions in the legislation.
Turkey law #4817, Concerning the Work Permits Issued to Foreigners (Official Gazette 6 March 2003/25040), is the national law regarding employment of foreign workers and came into effect in September 2003. This new law has eliminated the scattered and the multi- faceted structure of previous foreign workers laws in Turkey, and it has unified the national law in this matter. One of the most important features of law 4817 is the issuance of work permits from a single Turkish authority.
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| INTERNET LAW - New Zealand Economic Growth According to an OECD Report |
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| | Organization of Economic Co-operation and Development, www.oecd.com
Monday, September 17, 2007
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| | OECD Review of Innovation Policy reviews the strengths and weaknesses of New Zealand's innovation system and recommends steps the government could take to increase the impact of innovation on the country's future prosperity and social well-being.
Two decades of economic reform have laid the foundations for entrepreneurship and innovation, the report notes. Product markets work well, the labour market is flexible and the economy is open. Public research organisations are world-class in many areas, notably in agriculture and health.
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| INTERNET LAW - China-Australia Parliamentary Ties Hailed |
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| | China.org.cn
Monday, September 10, 2007
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| | Visiting Chinese President Hu Jintao Wednesday said that exchanges between Chinese and Australian legislatures have contributed to the comprehensive cooperation between both countries. With the development of bilateral ties, the two countries have enhanced their political mutual trust and made remarkable progress in economic and trade cooperation, said the Chinese president. [More...] |
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| INTERNET LAW - LG Electronics aims to post over $10 bil. in European sales in 2010 |
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| | Korea Government Official Site
Wednesday, September 05, 2007
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| | Korea's LG Electronics Inc. will post more than $10 billion in sales from the European market in 2010, thanks to increasing demand for its premium products such as mobile phones and flat-panel TVs, a top executive said Thursday (Aug. 30).
"Sales from the European market are expected to grow more than 20 percent this year to $7 billion and the figure will jump to $12 billion in 2010," James Kim, head of LG Electronics' European business, told reporters in a press conference here.
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| INTERNET LAW - The Enlarged Meeting of the Andean Council of Foreign Ministers and the Commission of the Andean Community |
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| | The Andean Community, www.comunidadandina.org
Wednesday, August 15, 2007
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| | The Andean Community recognizes the existence of different levels of development and economic approaches among the Member Countries, which shall be taken into account in the joint negotiation of an Association Agreement between the Andean Community and the European Union and of the right to express the differences and to negotiate different levels of coverage and depth, as the case may be, of the subjects and commitments of that Agreement.
The existing asymmetries between the Andean Community and the European Union and within the Andean Community shall be recognized and reflected in the commitments assumed by the Parties, while ensuring Special and Differentiated Treatment for Bolivia and Ecuador.
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| INTERNET LAW - Indian Economy Enters Sustained Boom Periods as Investors Rally |
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| | IBLS Editorial Department
Wednesday, August 15, 2007
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| | When it comes to giant markets that are expanding with almost reckless abandon, India has lately entered the same league as eastern neighbor China. With growth at almost 10% in 2006, India continues to surge forward with little sign of a slowdown, as expansion has averaged almost 9% the last half decade. The world has rarely seen such growth, with so much more potential to expand from such a large economy, as investors are still trying to understand China's colossal feats of economics.
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| INTERNET LAW - OECD removes the Marshall Islands from its List of Unco-operative Tax Havens |
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| | Organization of Economic Co-operation and Development, www.oecd.com
Monday, August 13, 2007
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| | The OECD is pleased to announce that the Republic of the Marshall Islands has made a commitment to implement a programme to improve transparency and to establish effective exchange of information in tax matters.
As a result of this commitment, the Marshall Islands becomes the second country in the past month, following Liberia, to be removed from the OECD's list of unco-operative tax havens. Only 3 countries remain on the OECD"s list of unco-operative tax havens: Andorra, Liechtenstein and Monaco.
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| INTERNET LAW - Consular Information Sheet |
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| | By U.S. Department of State, Bureau of Consular Affairs,
Wednesday, July 25, 2007
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| | A valid passport is required (passports must be valid for the intended period of stay in Japan). For tourist/business stays up to 90 days a visa is not required; however, an onward/return ticket is required. Americans cannot work on a 90-day "visa free" entry. U.S. citizens entering or transiting Japan should ensure that their passports and visas are up to date before leaving the United States. Airlines have mistakenly boarded U.S. citizens coming to Japan, even though their passports had already expired. The U.S. Embassy or our consulates cannot "vouch for" a U.S. citizen without a valid passport, and passport services are not available at the airport. In some instances, travelers have been returned immediately to the U.S., while in other cases, they have been issued 24-hour "shore passes" and were required to return the next day to Japanese Immigration for lengthy processing.
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| INTERNET LAW - China’s Black Gold and Global Warming |
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| | Council of Foreign Relations, Toni Johnson, www.cfr.org
Wednesday, July 11, 2007
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| | In China, where breakneck economic growth is the norm and energy consumption rises every passing day, coal is king (Bloomberg). Every week or so, a coal plant goes online somewhere in the country. According to Technology Review, China holds about 13 percent of the world's coal reserves and roughly two thirds of electric-power generation in the country is derived from coal (PDF). The New York Times calls coal "China"s double-edged sword—the new economy’s black gold and the fragile environment’s dark cloud.” In the face of the daunting challenge to control the toxic local pollution that has ensued, CFR’s Elizabeth C. Economy writes that “even the burgeoning environmental nongovernmental sector in China discusses climate change only as an afterthought.”
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| INTERNET LAW - The NASABA Convention Crosses the 100 Attorney Mark |
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| | IBLS Contributor: The North American South Asian Bar Association, Shirish Gupta, president@southasianbar.org, www.nasabaconvention.org,
Monday, June 11, 2007
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| | SAN FRANCISCO, April 18, 2007 - The North American South Asian Bar Association (NASABA) announces that over 100 attorneys from the U.S., Canada and India have already registered for the 2007 NASABA Convention on June 28-30, 2007 in San Francisco. The Convention is being jointly organized by NASABA and its largest chapter, the South Asian Bar Assoc. of No. Cal.
"We are on pace to exceed our 500 attendee target,” said Shirish Gupta, the Convention Co-Chair. “We are amazed at the excitement generated by the Convention, particularly from attorneys who did not attend the three prior NASABA Conventions. This will be by far, the biggest and best NASABA Convention ever. We will have 25 panels with over 120 speakers.”
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| INTERNET LAW - China Enjoys Risky Double Digit Expansion |
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| | IBLS Editorial Staff
Monday, May 14, 2007
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| | After a long run of economic success without much downside, China just released its first quarter numbers for 2007, and growth is near 11% over the previous year, but inflation is also starting to creep up. This concerns economists who believe the potential for a meltdown from too much expansion is increasing, and now China has a slippery road to travel to meet all its goals without allowing the economy to reach the status of a runaway train. Also, in Beijing’s maturation into a world-class economy, are there ethical standards they should be held to? This article will discuss these questions: How Big is the Chinese Economy? What Will Beijing do with its Money? Is China’s Overseas Oil Policy Dangerous to the West? Do China’s Oil Companies Have an Ethical Duty in Darfur?
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| INTERNET LAW - New South Wales Supreme Court confirms implied duties of good faith and mutual trust and confidence |
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| | IBLS Contributor: Chris Barton & Amy Murrel, Freehills Law Firm, Australia, www.freehills.com
Wednesday, April 11, 2007
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| | A decision handed down on Monday 19 February by Justice Rothman of the Supreme Court of New South Wales has confirmed that a duty of good faith and a duty of mutual trust and confidence will be implied into contracts of employment. Although this is a New South Wales decision it has implications for employers throughout Australia.
This is the first time that a superior court has found that there is an implied duty of good faith and an implied duty of mutual trust and confidence. While the decision is not binding, it could be followed by other courts, both in New South Wales and throughout Australia.
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| INTERNET LAW - Electronic Commerce: Selling Internationally – Completing Good Transactions |
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| | IBLS Editorial Staff
Thursday, March 08, 2007
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| | The U.S. has been working with other countries within the Organization for Economic Cooperation and Development (OECD) to provide e-businesses with good practice guidelines.
The Internet provides businesses with the opportunity to reach billions of customers in every country of the world. That presents new challenges to sellers who have never shipped overseas and may have little experience with the taxes, duties and customs laws involved. This is the reason why the U.S. has been working together with other countries members of the OECD to provide e-businesses with guidelines. These guidelines include some useful information, such as information on how to disclose the terms, conditions and costs of the transaction, ensure that consumers know they are making a commitment to buy before closing the deal, ensure safe transactions, and protect consumer privacy during electronic commerce transactions.
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| INTERNET LAW - Latvia expands broadband and possibilities in rural areas |
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| | Editor, Maricelle Ruiz, IBLS Director -- Europe
Wednesday, June 21, 2006
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| | The European Union has endorsed and will co-finance a project to bring broadband communications to under-served regions in Latvia. The precise amount of money to be invested in this project was not immediately disclosed. But its importance is already being expounded by EU and Latvian officials. A faster broadband Internet connection will not only allow citizens in remote locations to download large amounts of data immediately, according to the EU, but it will also enable them to benefit from the use of e-government, e-health and e-learning services, therefore improving the quality of their lives. [More...] |
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| INTERNET LAW - Exports of Information Technology Goods: China the World's Leader and Exceeding US |
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| | Martha L. Arias, LL.B., J.D., LL.M.
Wednesday, May 31, 2006
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| | China overtook the United States as the World's leading exporter on Information and Communications Technology (ICT) for the year 2004. [More...] |
