
Publication
Calming the storm after the SVB collapse: Prudential policy the key to stability
The collapse of Silicon Valley Bank, Signature Bank and Silvergate Bank in the last week has caused turmoil in global financial market.
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Global | Publication | February 2017
On January 18, 2017, an official notice was published in Official Gazette No. 41,085 announcing that Decree No. 2,680,1 which granted an income tax exemption on net income of Venezuelan source obtained by resident individuals up to an amount equivalent to 6,000 tax units (TU), was amended.
The amendment consists of the inclusion of a new provision into Decree No. 2,680 that expressly repeals Decree No. 2,266 issued by the president of the republic in March 2016,2 which granted an income tax exemption of 3,000 TU on territorial revenue derived by resident individuals in fiscal year 2016.
Therefore, the only income tax exemption in force for Venezuelan resident individuals with respect to fiscal year 2016 is the one set forth in Decree No. 2,680 of 6,000 TU.
1 Published in Official Gazette No. 41,077, dated January 18, 2017
2 Published in Official Gazette No. 40,864, dated March 9, 2016.
Publication
The collapse of Silicon Valley Bank, Signature Bank and Silvergate Bank in the last week has caused turmoil in global financial market.
Publication
The European Union’s Foreign Subsidies Regulation (the FSR) entered into force on 12 January 2023 and creates a new regime aimed at combating distortions of competition on the EU internal market caused by foreign subsidies. It imposes mandatory notification and approval requirements for acquisitions of significant EU businesses and large EU public tenders, and gives the European Commission (EC) extensive powers to launch ex officio investigations. The notification requirements go live on 12 October 2023.
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