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BLOG: Full steam ahead for the UK’s implementation of the global minimum tax rules When is the best time to consult on the UK’s implementation of the OECD/IF GloBE model rules published on 20 December 2021 with the aim of requiring large multinational groups to pay a minimum 15% level of tax in each jurisdiction in which they...
Pensions Bulletin - December 2021 DC charge cap; DB superfunds; investment oversight duties; Private Members’ Bill on GMP conversion; consultation on Collective Money Purchase Schemes Regulations; recovery method for overpayments In this month’s Pensions Bulletin we...
Overseas Issuer Listing Regime Update A summary of the key changes under the new HKEX regime for overseas issuers intended to streamline the regulations and facilitate listing by overseas issuers on HKEX. The new regime came into effect in January 2022. On 19 November 2021, The Stock...
Insurance Outlook 2022 In this Insurance Outlook we look ahead to legal and regulatory developments likely to be of interest to insurers over the next 12 months, focussing on; changes to the prudential regime, recovery and resolution, climate change, the new consumer duty of...
Right to terminate without cause prevails over the implied duty of mutual trust and confidence between employer and employee In Lam Siu Wai v Equal Opportunities Commission, the Court of First Instance affirmed that the common law implied duty of mutual trust and confidence (Duty) was concerned with the preservation of the continued relationship between employer and employee,...
A year of new frontiers: The 6th year of antitrust enforcement in Hong Kong Despite the continued challenges posed by the COVID-19 pandemic, the past year has been a year of progress and robust competition enforcement in Hong Kong. We saw developments across the board, including the first abuse of substantial market power case, a...
Competition & Regulatory Newsletter (8 - 21 December 2021) In December 2021 the Competition and Markets Authority published two updated procedural guidance documents. The revisions alter the CMA’s penalty calculation methodology and remove the ability of settling parties to appeal against an...
The boundaries of indirect enforcement of foreign revenue law Autonomous non-commercial organization "Organizing Committee of XXII Olympic Winter Games and XI Paralympic Winter Games of 2014 in Sochi" v Pico Projects (International) Ltd [2021] HKCA 1798. We examine the application of the rule...
BLOG: Global minimum tax model rules The model rules for Global Anti-Base Erosion (GloBE) (a.k.a. Pillar Two of international tax reform) set a template for a jurisdictional-level corporate minimum tax system applying a minimum effective rate of tax (ETR) of 15%. This is expected...
International accords on tax, but what will happen next The BEPS project has made significant progress internationally and in domestic implementation in many countries – but in recent times its objectives have been forced to change and there is uncertainty as to whether or not the initial aspirations...