What are the consequences of a settlement procedure where all the companies reach agreement with the authority conducting the investigation phase except one? Could the latter be harmed by not reaching an agreement? How does the principle of presumption of innocence apply given that the other participants in the infringement have already admitted to the facts? In this article, we identify the risks and disadvantages created by the so-called hybrid process and we will see that these can hardly be fully mitigated.
On March 12 2022 the Act on aid to citizens of Ukraine in connection with armed conflict on the territory of this country came into force. The special purpose act, in addition to regulating a number of issues related to the refugee’s stay in Poland, allows for favorable tax treatment of humanitarian aid expenditures incurred by corporations. At the same time, tax deductions that had already existed before the special purpose act came into force are still available for the taxpayers. The possibility of benefiting from both tax preferences for the same expenditures simultaneously remains an open question.
Since the start of the invasion of Ukraine, many companies have been making donations to support relief efforts following the invasion. In this commentary we review the main corporate income tax implications of these donations for Spanish or Polish resident donor legal entities.
Poland has plans to build the largest infrastructure project in the EU connecting Europe and Asia and making the country a passenger and cargo hub. This initiative, expected to mobilize over €30,000 billion, presents an opportunity for Spanish companies, not only in construction but also in other sectors connected to the rail sector.
2021 has proven to be an interesting year for arbitration. Among some of the most important and commented news of the past year, we highlight the Spanish Constitutional Court judgements limiting the scope of the “public order” concept as a cause for annulment of awards, the on going renewable energy dispute saga in Spain, the protectionist drift some countries and regions are experiencing in their investment and arbitration legislation, the return of Ecuador to the international investment dispute resolution system through its re-accession to the ICSID convention. We can also highlight the European Court of Justice´s 'Komstroy' decision effectively forbidding intra-EU arbitration under the Energy Charter Treaty (ECT), as well as the publication of the 2020 IBA Rules on the Taking of Evidence in International Arbitration.
These proposals, presented on December 22, 2021, have their respective origins in the work of the OECD and G20, for the implementation of a global minimum tax rate (known as Pillar 2) and in the communication on business taxation for the 21st century (revision of the ATAD Directive to include measures to counter shell companies).
Morocco has proposed a bill that would amend its current arbitration regulations, which were posing an obstacle to promoting this alternative method for resolving disputes in the country. The aim of the bill is to help convert the country into a leading financial center. We analyze below the key features of the bill that may be adopted in the coming weeks.