Hamburg, Germany

Amendments to the German Money Laundering Act

By Dirk Kohlenberg, nbs partners

With the implementation of the 4th EU Money Laundering Directive (RL [EU] 2015/849) in the German Money Laundering Act (Geldwäschegesetz, “GWG”), a transparency register was established in Germany on 01 October 2017.

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Jakarta, Indonesia


By Jimmy Budhi, KAP Jimmy Budhi & Rekan

Indonesia entered into an international tax treaty taxation which required the country to participate in the implementation of the Automatic Exchange of Financial Account Information and established legal legislation concerning access to financial information for tax purposes prior to 30 June 2017.

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US passport

While Relinquishing One’s US Citizenship Can Mitigate Estate and Gift Tax Obligations

By Ladidas Lumpkins, Prager Metis International LLC

Relinquishing one’s US citizenship can mitigate an individual’s estate and gift tax obligations, but a “Covered Expatriate”* should plan carefully when disposing of assets. Internal Revenue Code Section 2801 imposes a tax on US citizens or residents who receive certain gifts or bequests from Covered Expatriates (CEs). Even if the property is non-US-situs property, all of it is subject to the 2801 taxing regime.

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Mumbai, India


By Ashishkumar Bairagra, M L BHUWANIA AND CO LLP

In dia is known for its strict international tax compliance applicable to residents as well as non-residents who are liable to file their tax returns in India. Landmark judgements include the case of Vodafone (on indirect purchase), Asia Satellite (on satellite charges), Formula One (on permanent establishment [PE]), Morgan Stanley (on dependent agent PE) and the most recent case of Master Card (on service PE).

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Raleigh (NC), USA

New Paid-Leave Laws Require Employers to Change Practices

By D. Beth Langley and Sarah M. Saint, Brooks, Pierce, McLendon, Humphrey & Leonard, LLP

Since there is no federal paid sick leave law in the US, employers’ mandates and employees’ rights vary from state to state and locality to locality. In recent years, thirteen states, Washington, DC, and several localities, have mandated paid sick leave for employees. Further, Maine recently passed a law requiring employers to provide paid leave for employees regardless of reason.

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GGI Geneva Group
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