Publication
What M&A trends will transform the 2024 insurance landscape?
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
Global | Publication | September 2018
On August 17, 2018, the National Constituent Assembly issued a Constituent Decree setting out a Temporary Regime for Advanced Payment of the Value Added Tax and of the Income Tax for Passive Subjects Qualified as Special (the Decree), which was published in the Official Gazette of the Bolivarian Republic of Venezuela, Special Issue N° 6.396, dated August 21, 2018.
The purpose of this Decree is to create a temporary regime to change the frequency of value added tax (VAT) payments and implement advanced income tax and VAT payments applicable to passive subjects qualifying as special taxpayers performing activities other than mining and hydrocarbons exploitation and related activities, and who do not receive royalties from such activities.
Advanced income tax payments shall be calculated based on gross revenues obtained during the preceding term in the national territory, and for financial institutions, advances shall be calculated based on gross revenues during the immediately preceding day, times the relevant percentage. The advance can be between a minimum limit of 0.5 per cent and a maximum limit of 2 per cent of the gross income for the relevant term, and the National Executive Government can set it within such limits. For such purpose, the percentages for advanced payments are as follows
The Decree entered into force on September 1, 2018.
Publication
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
Publication
The ongoing conflicts and further geopolitical tensions in Eastern Europe and the Middle East, coupled with upcoming elections in a number of key countries including the US and the UK, make 2024 challenging to predict what impact this will have on the insurance sector.
Publication
On 6 September 2022, the European Commission (EC) prohibited Illumina’s acquisition of Grail, bringing to an end the administrative stage of a legal saga that has attracted interest beyond competition law specialists.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023