Voxius’ Post

𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 𝗮𝗻𝗱 𝗳𝗶𝗻𝗮𝗻𝗰𝗲 𝗹𝗮𝘄 𝗶𝗻 𝘁𝗵𝗲 𝗗𝘂𝘁𝗰𝗵 𝗖𝗮𝗿𝗶𝗯𝗯𝗲𝗮𝗻 𝗮𝗻𝗱 𝗦𝘂𝗿𝗶𝗻𝗮𝗺𝗲 Dutch legislation as regards, among other things, the law of legal entities (corporate law) and financial law has become extremely complex in recent years. This is partly due to the flood of European directives that EU member states must implement in their own legislation. The law of legal entities and financial law in the Caribbean parts of the Kingdom looks a lot simpler. And that legislation is also simpler. This also applies to the Republic of Suriname. With the introduction of a new Civil Code in Suriname, that country's legislation will be even more comparable to that of the Caribbean countries and islands of the Kingdom of the Netherlands. The advantage is that in this way a larger “legal community” is created in which knowledge and experience can be exchanged in terms of (scientific) literature and case law, among other things. As a result, fundamental questions can also be raised in a wider circle, especially if they are related to local culture or geographical location. For example, questions of customary law that do not arise in the Netherlands (Europe) may be raised. One point to note is that there are differences between the various laws, both between the respective Dutch Caribbean codes and in relation to Suriname. Such differences may be apparent from the legal text itself, but also from the application or from provisions of other laws of the relevant jurisdiction. Therefore, an advisor with multiple jurisdictions “under his belt” must always go the extra mile to be sure about the advice to be given. https://lnkd.in/e5Cg5cQK .

Just in: DIFC Seeks to Solidify Legal Framework with Proposed Amendments: Dubai International Financial Centre (DIFC),the leading financial hub in the Middle East,Africa and South Asia (MEASA),is proposing amendments to its law on the application of civil and commercial laws.This move aims to provide greater clarity and certainty regarding the source and interpretation of DIFC's legal system. Jacques Visser,Chief Legal Officer at DIFC Authority,highlights the importance of common law in DIFC's success."DIFC Laws are supplemented with reference to English Common Law and interpreted in accordance with both English Common Law and the Laws of other established Common Law Jurisdictions," he explains.The proposed amendments aim to solidify this approach by offering statutory confirmation for legal practitioners and courts. Addressing the Source of Law Previously,DIFC law was understood to be "backstopped" by English Common Law.The amendments seek to formally establish this by adding a new article to the Law of Application.This article clarifies that DIFC statutes are the primary source of law.However,if a specific legal concept is not explicitly addressed in DIFC statutes,English Common Law can be used to fill the gap.DIFC courts,however,are required to ensure such applications are appropriate and consider any necessary modifications for the specific circumstances.Additionally,the amendments prevent courts from relying on English Common Law principles that contradict existing DIFC statutes. Ensuring Continued Relevance of Common Law Another new article clarifies the interpretation of DIFC statutes.The amendments allow DIFC courts to consider legal principles developed in established common law jurisdictions for analogous situations.Furthermore,if a DIFC statute is based on an international model law,interpretations from international jurisprudence and relevant commentary can be used as guidance. These amendments aim to ensure that while English Common Law remains a cornerstone of DIFC's legal system,the Centre can also leverage best practices from a wider range of established common law jurisdictions.This approach is expected to foster a dynamic and adaptable legal framework that supports the continued growth of DIFC as a global financial hub. For a detailed explanation of the proposed amendments,please refer to Consultation Paper No.1 of 2024,available on the DIFC website.The public consultation period for the amendments concludes on June 1,2024.

Andersen Global strengthens its presence in Asia Pacific through a Collaboration Agreement with leading commercial law firm Howards Lawyers in Fiji.

Andersen Global strengthens its presence in Asia Pacific through a Collaboration Agreement with leading commercial law firm Howards Lawyers in Fiji.

⚖️ Lawyers’ professional secrecy case 🖋 On September 26, 2024, the ECJ issued its judgment in the case C-432/23 (Ordre des avocats du Barreau de Luxembourg). 💡 Decision: "Article 7 of the Charter of Fundamental Rights of the European Union should be interpreted as meaning that a legal consultation by a lawyer in matters of company law falls within the scope of the enhanced protection of communications between a lawyer and his client, guaranteed by that article, so that a decision ordering a lawyer to provide the administration of the requested Member State, for the purposes of an exchange of information on request provided for by Council Directive 2011/16/EU of 15 February 2011 on administrative cooperation in the field of taxation and repealing Directive 77/799/EEC, with all the documentation and information relating to his relations with his client, relating to such a consultation, constitutes an interference with the right to respect for communication between a lawyer and his client, guaranteed by that article." 🇪🇺 #taxlaw #caselaw #ecj #charter #lawyers #confidentiality #fundamentalrights #luxembourg #legalnews

⚖ Professional secrecy of a lawyer - Court of Justice of the European Union 🗃 In a recent opinion, Advocate General Kokott clarifies the extent of legal professional privilege protection under the exchange of information mechanism. 💡 On 30 May 2024, Advocate General Kokott delivered her opinion in case C-432/23, involving the Luxembourg Bar (ORDRE DES AVOCATS DU BARREAU DU LUXEMBOURG), concerning a request for a preliminary ruling, raising the question as to whether and, if so, under what conditions, a tax administration may seek disclosure from a lawyer in the context of an exchange of information foreseen by the Council Directive 2011/16/EU on administrative cooperation in the field of direct taxation (“DAC”). 🔇 The conclusions (proposals for the Court´s answers) are the following: 📌 Legal advice provided by a law firm, even on matters of company law – for example on setting up a corporate investment structure – falls within the scope of the protection afforded by legal professional privilege as guaranteed by Article 7 of the Charter of Fundamental Rights of the European Union. 📌 A decision of the competent tax authority ordering a law firm to disclose information in the context of an exchange of information on request whereby that authority, broadly speaking, calls for the production of all documentation relating to certain transactions and its involvement in those transactions constitutes interference with the right to respect for communications between lawyers and their clients that is guaranteed by Article 7 of the Charter. 📌 Council Directive 2011/16/EU (DAC) is compatible with Article 7 and Article 52(1) of the Charter, in so far as it does not include, beyond Article 17(4), any provision which formally permits interference with the confidentiality of exchanges between lawyers and their clients in the context of the system of exchange of information on request and which itself defines the scope of the limitation on the exercise of the right in question. This is because Article 17(4) of Directive 2011/16 gives the Member States sufficient discretion to fulfil the requirements of Article 7 of the Charter. 📌 The national legislation of each Member State can and must stipulate the conditions, the scope and the limits of the duty to cooperate incumbent on lawyers, as information holders, in the context of the exchange of information on request under Directive 2011/16. In so doing, national law must, in particular, enable the competent authority to strike a balance on a case-by-case basis between the objectives in the general interest, on the one hand, and the protection afforded by legal professional privilege, on the other. Since Luxembourg law does not allow for such a balance to be struck in matters of tax law, Article 7 of the Charter precludes the application of the national law to that extent. #caselaw #cjeu #advocategeneral #opinion #professionalsecrecy #lpp #legalprivilege #tax #eulaw #taxlaw #court

Our article was published under the title "Valuation of Intangible Assets from the Perspective of Iran, China and South Korea Legal Systems". Today, the competitive advantages of individuals, especially commercial enterprises, have undergone a revolutionary transformation from the traditional, tangible formats, and now intangible assets stand out more than tangible assets in the assets of individuals, it is not possible to ignore these assets, and when we recognize financial issues Its value and valuation is also raised, especially since the most important feature of these properties is their intangible nature, so the process of valuing them will be a special and special process that is different from tangible properties. It is important that the legal system itself is ready to govern this process. Importantly, it is not possible unless with strict legislation and supervision of the implementation of a certain and expert executive of this special operation, China and South Korea were closely examined as the pioneers of this operation in the East of the world, and the result showed the severe gaps in the legal system of our beloved country. Our legal system does not have the process of valuation of non-state intangible property, a precise law, a comprehensive regulation, and a special expert institution. The government has sometimes concluded a memorandum of understanding and sometimes created a special institution to meet its needs, and the investigation of the research revealed the gaps in the same measures. In line with the inherent tasks of the research, we made low-cost and effective suggestions based on the research in the legal systems of the countries under review and their successful experiences It is possible that by implementing reforms in the structural system or the limits of qualifications and regulations, the preparations for creating a platform for specialized work will be provided. Then, solutions have been presented regarding the training of specialized personnel and the recruitment and training of specialized personnel in order to eliminate the gaps as much as possible and to get out of the confusion of opinions.

Kiyran Legal Consultants, It is an international law firm, founded by lawyer Mustafa Kiyran, based in "Istanbul" ... We have been pleased to provide a wide range of legal services and consultations to many institutions and individuals at inside and outside "İstanbul", in various fields and different languages, through our team of expert legal professionals. * By the help of a large team of university academics represented in 'Kiyran Advocates and Legal Consultants' such as customs brokers and consultants, social security experts, financial advisors, with whom we cooperate in some cases that require expertise - we provide distinguished services; By establishing sustainable relationships with its clients within a framework of mutual trust and respect, which enables us to meet the needs of our clients. At Kiyran Law & Legal Consultation, we focus on providing our clients with innovative and impressive solutions. In addition, we provide many other services in various fields through our team in these aspects, including; Legal advice in relation to the *KVKK* _Personal Data Protection Law_ " , Energy and Infrastructure, Mining and Maritime Trade Law, Logistics Law, Yachting and Luxury Ship Finance, Banking, Finance, Mergers, Capital Markets Law, Corporate Law, Corporate Governance, International Law, Commercial Contract Law and Competition Law Trademark and patent law, intellectual and industrial property, real estate and construction law, civil aviation law, pharmaceutical and medical devices, health law, sports law, information technology, communication and entertainment law, personal data protection, information technology crimes, customs law, enforcement and bankruptcy law, insurance law, administrative law, inheritance law, tax law, criminal law and litigation Investment funds, dispute settlement, family law, labor law, issues of expropriation, expropriation without expropriation and abolition of ownership... All of these services we provide to our clients on solid legal foundations to seize opportunities and make the best use of them in the way of commercial success and in all fields of life. #KiyranLaw&Consulting

Just completed the Legalese - Legal English course in Contract and Tax Law. ⚖️ #Legalese #LegalEnglish #ContractLaw #TaxLaw

Read on if you need to know about international tax and inheritance planning.