Mercados de capital de deuda

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Artículos Recientes

  •  
    13.06.2023
    Middle East

    UAE Corporate Tax Law: When does a non-resident juridical person have a UAE Nexus?

    BackgroundThe UAE enacted its Corporate Tax Law (the “CTL”) in December 2022 (Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses). The CTL came into force on 1 June 2023. The main corporate tax rate of 9% applies on income exceeding AED 375,000 (roughly USD 102,000). The CLT provides that the rate of corporate tax which applies to “Qualifying Free Zone Persons” is 0% with respect to qualifying income and 9% on non-qualifying revenue.Under Article 11 of the CTL, a taxable person includes a non-resident person which has a UAE nexus.Cabinet Decision...
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  •  
    05.06.2023
    Middle East

    UAE Corporate Tax Law: What Constitutes Qualifying Income for Free Zone Persons?

    BackgroundThe UAE enacted its Corporate Tax Law (the “CTL”) in December 2022 (Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses). The CTL came into force on 1 June 2023. The main corporate tax rate of 9% applies on income exceeding AED 375,000 (roughly USD 102,000). The CLT provides that the rate of corporate tax which applies to “Qualifying Free Zone Persons” (“QFZP”) is 0% with respect to qualifying income (“Qualifying Income”) and 9% on non-qualifying revenue (“Non-Qualifying Revenue”).After much anticipation,...
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  •  
    25.04.2023
    Middle East

    Corporate Tax Thought Leadership Series: Anti-Abuse Rules for Small Business Relief

    BackgroundThe UAE enacted its Corporate Tax Law in December 2022 (Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses). The Corporate Tax Law applies with effect from 1 June 2023. A 9% tax rate will apply on income exceeding AED 375,000 (approx. US$102k). Despite its name, the Corporate Tax Law treats a natural person conducting business in the UAE as a “Resident Person”. Such a person’s business income would be subject to corporate tax in the UAE. Should the legislation not have extended the scope of the Corporate Tax Law to natural persons...
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  •  
    17.04.2023
    Middle East

    The legal framework for sustainable family businesses in the Kingdom

    BackgroundThe new Saudi Companies Law issued through Cabinet Decision No 678/1443 is a landmark legislation that has sown the seeds for a sustainable family business ecosystem. The provisions regarding family businesses introduced by the Companies Law are in pursuance of the economic objectives underpinned in the country’s landmark Vision 2030.Family CharterMost importantly, the Companies Law has introduced an institutional legal cover to family businesses. The founders, partners and shareholders of family-owned enterprises can now conclude a “family charter” (or a family constitution)...
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  •  
    04.04.2023
    United Kingdom

    Convertible bonds

    In the current challenging market conditions, companies considering options for financing their businesses may be contemplating or may have proposed to them an issue of convertible bonds. Convertible bonds allow bondholders to convert the bonds into other securities of the issuer, customarily shares, at a conversion price set at a premium to the current share price and tend to carry a lower rate of interest than a straight bond because of the perceived value of the conversion right. As convertible bonds combine a debt instrument with a fixed income coupon and an embedded equity call option, they...
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  •  
    19.01.2023
    Reino Unido

    ABT Auto Investments Ltd v Aapico Investment Pte Ltd – importance of agreeing commercially reasonable valuation methods

    In this Law-Now we discuss the recent case of ABT Auto Investments Ltd v Aapico Investment Pte Ltd [2022] EWHC 2839 (Comm) which involved the remedy of appropriation, an enforcement option available under the Financial Collateral Arrangements Regulations (“FCARs”). Appropriation may be used where security is created or arises under a security financial collateral arrangement and this is agreed between the parties. The FCARs were introduced in the UK to implement EU directives, the purpose of which was to simplify the process of taking security over financial collateral across the...
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