The EU Decision

The EU Commission has held on January 26, 2011 that the so called restructuring privilege offered by German corporate tax law, which allows corporations in a distressed financial situation to continue to set off tax loss carry forwards against future profits even if their shareholder structure has substantially changed, is incompatible with EU State Aid provisions.

The recipients, which have applied the restructuring privilege, are now threatened with the reclaim of the tax benefits.

Since gaining its independence in 1993, the Slovak Republic has adopted new laws at a rapid pace. As a country in transition, its legal system continues to develop.

Welcome to the fifth edition of Baker & McKenzie's quarterly Asia Pacific Financial Services & Regulatory Newsletter.

Doing Business in Russia 2015 Doing Business in Russia 2015 Baker & McKenzie - CIS, Limited Moscow Office White Gardens, 10th Floor 9 Lesnaya Street Moscow 125047, Russia Telephone: +7 495 787 27 00 Fax: +7 495 787 27 01 [email protected] St. Petersburg Office BolloevCenter, 2nd Floor 4A Grivtsova Lane St.

The Judicial Committee of the Supreme People’s Court has passed a notice regarding overdue fines on unpaid taxes of a bankrupt enterprise. This came into effect on 12 July 2012.

Since the adoption of the 2011 Finance Act, the scope of application for thin capitalization rules, provided for in article 212 of the French Tax Code, was extended to all loans, including bank loans, backed by security interest or a guarantee, granted by a company belonging to the borrower's group or by a company with a guaranteed undertaking secured by a company related to the borrower.

Conducting Business in Ukraine 2016 Conducting Business in Ukraine 2016 Conducting Business in Ukraine 2016 Baker & McKenzie Renaissance Business Center 24 Bulvarno-Kudriavska (Vorovskoho) St.

Doing Business in the Slovak Republic 2016 Doing Business in the Slovak Republic 2016 Preface Since gaining its independence in 1993, the Slovak Republic has been adopting new laws at a rapid pace. As a country in transition, its legal system continues to develop. Therefore, the Prague office of Baker & McKenzie and its Slovak counsel Marek & Partners have prepared the document Doing Business in the Slovak Republic as a general guide for any company or individual considering an investment in the Slovak Republic.

High Court says "Yes"

Need to know

In a win for creditors of insolvent companies, on 10 December 2015 the High Court determined that the obligation of a liquidator under section 254(1)(d) of the Income Tax Assessment Act 1936 (Cth) (1936 Act) to retain sufficient funds to pay tax on assets realised during the winding up only arises after a tax assessment has been made. If the funds are distributed prior to a tax assessment being made, then the obligation does not arise.

Baker & McKenzie Alert Client Alert 28 SEPTEMBER 2015 Download Forward Contact Us Visit Our Website Providing the Commissioner of Taxation with access to records - even liquidators cannot escape Need to know The Federal Court has recently determined that when the Commissioner of Taxation is a creditor of a company in liquidation, he or she is not required to obtain a court order under section 486 of the Corporations Act 2001 (Cth) (Corporations Act), unlike all other creditors, before requiring the Liquidator to make available the company's records for inspection.