A judgment of the Court of Justice of the European Union (ECJ) confirms the possibility of replacing an unfair early termination clause in a loan agreement by the application of article 693.2 of the Spanish Civil Procedure Rules (LEC), declaring valid and not unfair to start mortgage foreclosure in the event of default of at least three monthly instalments.
Ruling no. 30211, of 15 March, was disclosed by the Portuguese Tax Authorities, clarifying the extension of some amendments introduced in the Portuguese VAT Code by the Decree-Law no. 28/2019, of 15 February, under the SIMPLEX + Program.
In Colombian public limited companies and simplified joint stock companies, inspection rights are subject to a series of rules regarding the documents and content that can be inspected. We recommend preparing regulations setting out how shareholders can exercise their rights in these cases. To that end, key points to be borne in mind are set out below.
In response to the digital transformation of services for the storage, processing and use of data, and to promote the use of cloud computing for the provision of financial services, the Colombian Finance Authority (Superintendencia Financiera de Colombia or “SFC”) has issued External Circular no. 005- 2019, in which it sets out instructions relating to the use of cloud computing services.
The deadline to deliver the special payment on account (“PEC”) regarding fiscal year 2019 ends on 31 March for taxable persons resident within the Portuguese territory engaged primarily in a commercial, industrial or agricultural activity and non-residents with a permanent establishment herein which have adopted a fiscal year that coincide with the calendar year, in cases the waiver of such payment is not applicable. The PEC might be delivered in a single installment, during March, or in two installments, in March and October of the corresponding fiscal year, or in the 3rd and 10th month of the fiscal year, if not coincident with the calendar year.
Decree-Law no. 28/2019, of 15 February, was officially published, within the framework of the SIMPLEX + program, in order to promote the dematerialisation and reduce over-bureaucratisation in the emission and archiving of invoices, namely, consolidating and revising some provisions scattered through the legislation.
Royal Decree-Law 5/2019, of March 1, 2019, adopts a number of contingency measures in light of a potential no-deal regarding the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union on March 30, 2019, including labor and social security measures.
Law no. 17/2019, was officially published, which approves the Regime of Communication of Financial Information, amending the Decree-law no. 64/2016, of 11 of October, and the Decree-Law no. 61/2013, related with the mandatory automatic exchange of information in tax matters and with the obligation to comply with the communication rules and due diligence related with the bank accounts qualified as “subjected to communication” of holders and beneficiaries residing in other Member States of the European Union or in other participant jurisdictions, such as the United States of America.