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China: Regulators Ban Companies from Raising Money Through Virtual Currencies

(Oct. 19, 2017) On September 4, 2017, seven government administrations in China – the People’s Bank of China, the Office of the Central Leading Group for Cyberspace Affairs, the Ministry of Industry and Information Technology, the State Administration for Industry and Commerce, the China Banking Regulatory Commission, the China Securities Regulatory Commission, and the China […]

Japan: Reporting Requirements for Adviser/Consultant Positions for Retired CEOs

(Oct. 17, 2017) In August 2017 the Tokyo Stock Exchange revised its instructions for the Report on Corporate Governance that it requires listed companies to prepare. The revised instructions have a section on the status of former chief executive officers (CEOs).  If some of them retain positions in the company, such as advisor or consultant, […]

China: New Rules on Overseas Investment Released

(Sept. 7, 2017) On August 18, 2017, China’s State Council released a set of new rules directing Chinese companies’ overseas investment. According to the Opinions on Further Guiding and Regulating the Direction of Overseas Investment (Guiding Opinions), investments in the real estate, hotel, cinema, entertainment industry, and sports club sectors will be subject to government […]

Luxembourg: Law on Use of Resources in Space Adopted

(Aug. 22, 2017) The Luxembourg Chamber of Deputies adopted a law on the exploration of space and the use of space resources on July 13, 2017; the Grand Duke signed the law on July 20, 2017. (Loi du 20 juillet 2017 sur l’exploration et l’utilisation des ressources de l’espace [Law of 20 July 2017 on the […]

Vietnam: Support for Small- and Medium-Sized Enterprises

(July 18, 2017) Vietnam’s National Assembly passed the Law on Support for Small- and Medium-Sized Enterprises (SME Law) on June 12, 2017; it will enter into force on January 1, 2018. (Angela Koo, Vietnam: Law on Support for Small and Medium-Sized Enterprises (SMEs), TAX NEWS SERVICE (June 28, 2017), International Bureau of Fiscal Documentation online […]

Thailand: New Law on Competitiveness in Targeted Industries

(Mar. 1, 2017) On February 13, 2017, the King of Thailand announced the adoption of the National Competitive Enhancement Act for Targeted Industries, BE 2560 (2017), in the country’s Royal Gazette. (Thailand Waives Corporate Tax in Targeted Industries, THAI LAW FORUM (Feb. 22, 2017); Act to Enhance the Competitiveness of Targeted Industries B.E. 2560, 134:19 RATCHAKITCHANUBEKSA […]

Italy: Law on Public Participation Companies

(Dec. 23, 2016) On September 23, 2016, new legislation establishing the consolidated text of the Public Participation Companies Law entered into effect in Italy. (Law No. 210 of August 19, 2016, Public Participation Companies Law (Law No. 210), GAZETTA UFFICIALE, No. 210 (Sept. 8, 2016), NORMATTIVA (in Italian).)  The purpose of the new legislation is to […]

Curaçao: Tax Reform Measures

(Oct. 18, 2016) It was reported on October 7, 2016, that the Curaçao government had introduced a number of major tax reform measures, with retroactive effect for some provisions from January 1, 2016; other provisions enter into force on January 1, 2017. (Alfred Krieger, Curaçao: Tax Reform: Main Legislative Changes with Retroactive Effect as per 1 […]

Jordan: Investment Fund Law Enacted

(June 29, 2016) Jordan recently enacted the Jordanian Investment Fund Law, to establish a fund (the Fund) as a legal entity endowed with administrative and financial independence and authorized to own movable and immovable properties. (Law No. 16 of 2016, AL-JARIDAH AL-RASMIEH [OFFICIAL GAZETTE] No. 5399 (May 26, 2016) , art. 3(a) (in Arabic) (showing […]

Indonesia: Capital Requirement for Starting a Business Reduced

(Apr. 8, 2016) On March 21, 2016, Indonesia’s President, Joko Widodo, signed into effect a regulation changing the requirement for starting a business in the country. The previous requirement that any new limited liability company have initial capital of at least RP50 million (about US$3,780), with at least 25% of that already in hand, has […]