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Business Without Borders

May 09, 2017

IRS Announces Tax Treaties Resulted in Low Withholding Rates to Foreign Individuals and Entities

In the 2017 Statistics of Income Bulletin, the IRS reported that foreign recipients of U.S. source income from treaty countries had an average withholding rate of 13.9% compared to 25.6% for payments made to residents of non-treaty countries.   Absent certain exceptions and/or exemptions, a foreign person, including a foreign entity, is generally subject to tax at a flat 30% rate on U.S.» Read More

Apr 03, 2017

The Plastic Bag Ban: How Does Rapidly Changing Environmental Regulation Impact Your Business’s Expansion?

“Disposable” plastic bags have become a ubiquitous element of retail shopping over the past several decades, with most consumers barely thinking about the volume or impact of their use and disposal.  Thin plastic bags have become so inexpensive, that virtually all retail businesses offer them free of charge – at least where they are still permitted to do so.

Over the past decade, governments around the world have moved towards requiring businesses to participate in pollution-reduction efforts. » Read More

Mar 31, 2017

The Hague Securities Convention – IV. What effect does the Hague Securities Convention have on perfection by filing?

What effect does the Hague Securities Convention have on perfection by filing?

— Part Four of Four —

The Convention does not affect perfection of a lien by taking physical possession of the securities.  However, the Convention may affect perfection of a lien by filing, including the place where the security interest or other lien implementation document must be filed.  Under the relevant provision of the UCC (§ 9-305) the jurisdiction of the intermediary, NOT the borrower determines the effect of perfection and the priority of the security interest (a lien). » Read More

Mar 30, 2017

The Hague Securities Convention – III. What is required to be a governing law?

What is required to be a governing law?

                — Part Three of Four —

Two things are required.  First, the choice should be expressly made.  If an express choice is not made, there are a series of fallback rules under the Convention, but clearly the far better approach is to make an express choice.

Second, the jurisdiction whose law is chosen must be a jurisdiction (i.e.» Read More

Mar 29, 2017

BREXIT – IT’S REALLY HAPPENING – From Parliament in London

Co-Written by John Gabrielski

Barely thirty minutes after Prime Minister Theresa May commenced her address to Parliament at noon today, Tim Barrow, the UK’s representative to the EU, hand delivered its Article 50 Notice to Donald Trusk, the President of the European Counsel , in Brussels.  The speculation is over – the UK is formally withdrawing from the EU.

Prime Minister May told Parliament that “[t]oday, the government acted on the democratic will of the British people, and it acts too on the clear and convincing position of this house.» Read More


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