Employee Share Schemes

Recent Articles

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  15.03.2023

  United Kingdom

  Spring Budget 2023 – key tax policy an­nounce­ments

  Today’s Spring Budget speech focused on moving the UK economy into growth mode. With the increase in the main rate of corporation tax to 25% on the horizon and fast-approaching, the Chancellor turned to reliefs rather than rate cuts to demonstrate his commitment to incentivising investment in the UK. For most businesses, the “headline” announcement in this area will have been the introduction of a generous full-expensing regime for capital allowances, but other important measures include the permanent increase to the Annual Investment Allowance, reforms to Research & Development...

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  17.11.2022

  United Kingdom

  Au­tumn State­ment 2022 – Key tax high­lights

  Today’s Autumn Statement was aimed at tackling the cost of living crisis and rebuilding the economy, in the context of an acknowledgment by the Chancellor that the UK is in recession. Clearly, the tax policies announced stand in stark contrast to September’s tax cutting mini budget – the majority of which (as explained below) has now been abandoned. Although the Chancellor reiterated that he was behind his predecessor’s commitment to growth, this was only one among three key pillars of equal importance: growth, stability and innovation. The tax policies announced today appear...

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  31.08.2022

  United Kingdom

  Ex­ec­ut­ive re­mu­ner­a­tion and ESG

  Environmental, social and governance (ESG) considerations are top of the agenda for many companies today. While ESG seeps into all aspects of business, executive remuneration is one of the areas that is beginning to address ESG concerns. Recent research found that three in five FTSE 100 executive bonus plans now have an ESG component, and with the adoption of ‘E’ and ‘S’ metrics in executive pay decisions globally doubling in recent years, the drive towards integrating ESG issues within executive remuneration is certainly not going to slow down any time soon. This Law-Now...

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  22.04.2022

  China

  Do Chinese sub­si­di­ar­ies of EU share­hold­ers and EU na­tion­als in China have to com­ply with EU sanc­tions on Rus­sia?

  Recently the EU imposed additional sanctions on Russia and Russian companies and individuals. For foreign invested enterprises with EU shareholders and EU nationals in China, the questions arises whether they must comply with these regulations when doing business with Russian business partners from China. According to the answers provided by the EU Commission in their FAQs, the following applies: In principle, EU sanctions do not apply extra-territorially. In accordance with Article 13 of COUNCIL REGULATION (EU) No 833/2014 (the "Regulation"), the Regulation applies: within the territory of the...

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  28.03.2022

  Italy

  Itali­an court re­cog­nises ret­ro­act­ive ex­emp­tion on di­vidends to for­eign in­vest­ment funds

  In judgment No. 49/2022, the first instance Court of Pescara recognised that distribution of dividends from a resident company to a non-resident fund must be granted with an exemption regime from the Italian taxation authority. In particular, the decision of the Tax Court is based on recognition that in the years 2014, 2015 and 2016, subject to judgment, the Italian taxation regime for foreign funds was in contrast with the principles of free movement of capital (provided for by articles 63 and 49 of the TFEU), chiefly because exemption was granted only for receiving resident funds. On 1 January...

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  22.03.2022

  China

  SPC Is­sues Ju­di­cial In­ter­pret­a­tion on Sev­er­al Is­sues Con­cern­ing the Ap­plic­a­tion of the Gen­er­al Part of the PRC Civil Code

  On 24 February 2022, the Supreme People's Court (“SPC”) of the People’s Republic of China (“PRC”) promulgated the Interpretation on Several Issues Concerning the Application of the General Part of the PRC Civil Code (the “Interpretation”). The Interpretation entered into effect on 1 March 2022, and consists of 9 parts and 39 Articles in total. The Interpretation contains interpretations and explanations of the SPC on Book One, i.e. General Part, of the PRC Civil Code, which is the first combined codification of the civil law in the PRC, and which had entered...

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