Purpose The Global Minimum Tax Act has come up with the global minimum tax (minimum top-up tax) under Pillar Two as developed by the Organisation for Economic Co-operation and Development (OECD)/G20 Inclusive Framework on Base Erosion and Profit Shifting. It was agreed by over 135 member jurisdictions of the OECD/G20 in October 2021, the two-pillar […]
Read More →S.N. Nature of Compliance Compliance Title Legal Provision Exemption Frequency Due Date 1. Registration Registration of Limited Liability Company Article 233 of Law No. 11 of 2015 (Commercial Companies Law):- The chairman of the company shall apply for registering the company in the commercial registry. The application shall be accompanied by the memorandum of association […]
Read More →Entitlement: As per Article 62 of Labour Law of China read with Article 7 of Special Provisions on the Labor Protection of Female Employees, a female employee (including foreign employee) is entitled to 98 days of maternity leave (of which 15 days can be taken before delivery and 83 days after birth) Provided the maternity […]
Read More →Introduction After a long wait, Corporate Transparency Act has finally came into force w.e.f. 1st Jan, 2024. This is a law to ensure that persons who form corporations or limited liability companies in the United States disclose the beneficial owners of those corporations or limited liability companies, in order to prevent wrongdoers from exploiting […]
Read More →There are various laws in China which put restrictions on cross-border data transfer. Cyber Security Law of the People’s Republic of China (CSL) and Personal Information Protection Law of the People’s Republic of China (PIPL) are the main laws which mandate to store personal and critical information within the territory China. Requirement of data localization […]
Read More →Introduction:- In exercise of powers conferred by Section 3 read with Sections 5 and 9 of the Foreign Trade (D&R) Act, 1992 read with paragraphs 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, the Central Government with a view to promote ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives has amended the import policy from […]
Read More →To deal with the issue of unemployment Haryana notified Haryana State Employment of Local Candidates Act, 2020 w.e.f. 15th January, 2022. The said law was introduced with a view to reserve 75% of private sector jobs for residents of the state. Faridabad Industries Association & ANR. moved to Punjab and Haryana High Court stating that […]
Read More →Haryana has finally notified the Haryana State Employment of Local Candidates Act, 2020 and Haryana State Employment of Local Candidates Rules, 2021 to tackle the issue of unemployment in the State. Laws have come into force throughout the State of Haryana w.e.f. 15th January, 2022. Following points summarize the laws:- Act applies to all the […]
Read More →Government of India is working on overhauling of the existing labour laws to bring them in sync with the current era of business landscape. Labour laws not only impact workers but also Industries at large. All the four labour codes have been finalised by GoI to replace the existing labour laws and all that is […]
Read More →Registers to be maintained under Wage Code Form no. I – Register of Wages, Overtime, Fine, Deduction for damage and Loss As per Section 50 of the Code, every employer of an establishment to which this Code applies shall maintain a register containing the details with regard to the following in Form no. – I […]
Read More →