Sultani Decrees
Sultani Decree No. 1/2017 Ratifying the General Budget of State for Fiscal Year 2017 Enacted on 1 January 2017. Effective from 1 January 2017
Ministerial Decisions
Diwani Decision No. 39/2016 Naming members of the Municipal Council, Muscat Governorate, for the second term. Issued on 28 December 2016
Ministerial Decision No. 165/2016 Publishing the Final Account of the State for Fiscal Year 2015. Issued on 21 December 2016
Sultani Decrees
Sultani Decree No. 19/2012
Appoints HE Liyutha bint Sultan bin Ahmed Al Mughairi – the Omani delegate at the United Nations in New York – as non-residential ambassador to the Republic of Cuba and the Republic of Venezuela.
Promulgated on 31 March 2012.
Effective on promulgation.
Sultani Decree No. 20/2012
Promotes Salim bin Said bin Salim Al Rahbi to the position of Supreme Court judge.
Promulgated on 31 March 2012.
Effective on promulgation.
Sultani Decrees
Sultani Decree No. 37/2012
Appoints the new Board of Governors of the Central Bank of Oman, naming Dr Ali bin Mohammed bin Moosa as Deputy Chairman.
Promulgated on 18 June 2012. Effective from 11 June 2012.
Sultani Decree No. 38/2012
Grants Omani citizenship to the named individuals.
Promulgated on 18 June 2012. Effective on promulgation.
Ruling description
In its judgment of January 15, 2014, the Provincial Administrative Court (WSA) in Warsaw (case no. III SA/Wa 1928/13) ruled that a bankruptcy receiver was not required to correct input tax under the procedure set forth in Art. 89b (1) of the VAT Act (in the version which took effect on January 1, 2013) if the creditor cannot correct output tax under the “bad debt relief” procedure due to the debtor being bankrupt.
Ruling description
In the judgment of August 18, 2015 (case no. II FSK 2510/13) the Supreme Administrative Court confirmed that a registered partnership is excluded from the scope of application of the Capital Duties Directive (69/335/ EEC). Therefore, Restructuring activities in such a company are subject to civil law transactions tax (PCC).
New Federal Law No. 266-FZ dated 29 July 2017 (the Amendment Law) introduces notable changes to Russia’s insolvency rules. Importantly, the law does away with the original provisions on vicarious liability of controlling persons in RF Law No. 127-FZ on Insolvency of 26 October 2002 (the Insolvency Law). The Amendment Law expands this concept in a series of new clauses. The rules came into force 30 July 2017.
In early 2015, credit institutions gained the right to initiate the bankruptcy of their debtors according to a simplified procedure – i.e., without a court decision ordering the recovery of debt.
In October 2016, the Chamber for Commercial Disputes at the Supreme Court of the Russian Federation considered the cassation appeal of Eurasian Trading Company LLC (hereinafter – the Trading Company) in Case № А57-16992/2015 against the court’s refusal to introduce monitoring procedures with respect to RBP JSC (hereinafter – the Debtor) and decision to dismiss the application by the Trading Company without consideration.
The new personal bankruptcy law enters into force on 1 October 2015
The new personal bankruptcy law enters into force on 1 October 2015. Individuals will now be allowed to go bankrupt while creditors are left to struggle. The rules have caused much apprehension and it remains to be seen how business will operate in the new environment.
1. Adoption and entry into force of the Russian Federation Code of Administrative Procedure dated March 8, 2015, No. 21-FZ