Monthly Archives: September 2014

ILN Today Post

WILL THE OECD BE ABLE TO ”RINGFENCE” TAXATION OF E-COMMERCE?

As most of the readers know, the OECD administers the Base Erosion & Profit Shifting Project (the “BEPS Program”) and its fifteen action plans. Below are some comments regarding action plan no. 1 – which is focused on the digital economy and the challenges it may create from a tax point of view. In this context, it is important to bear in mind that the end result of the BEPS Program is not to introduce proposals for new legislation in the member countries. On the contrary, but the BEPS Program modifies the OECD Guidelines, which means that the final changes effectively will become “applicable rules” by the tax authorities.  The benefit – as seen by the politicians – is that this means that the changes will not need to be passed by the parliaments and legislative bodies of the different countries. More…

Read full article
ILN Today Post

Client Alert – Recent Rejection of Sunshine Act Data Submissions Pushes Back Deadlines

Implementation of the Sunshine Act continues to encounter stumbling blocks. On August 15, 2014 the Centers for Medicare and Medicaid Services (“CMS”) announced that it would be withholding one-third of the records it received from drug and medical device manufacturers under the Sunshine Act due to data inconsistencies. CMS indicated that the flawed submissions will not be published in the Open Payments System database that is scheduled to go public on September 30, 2014. Rather, CMS will be returning the flawed data to manufacturers and group purchasing organizations (“GPOs”) to be corrected and resubmitted. The resubmitted data will not be published until June 2015.  More…

Read full article
ILN Today Post

California Ruling On Medical Privacy Law Should Please Big Hospitals But Not Specialty Healthcare Providers

Narrow judicial interpretations of compliance obligations are usually cause for relief among those bearing compliance costs and the risks of non-compliance.  Then there’s the recent decision on the scope of what constitutes patient “medical information” requiring protection under California’s Confidentiality of Medical Information Act (“CMIA”) in Eisenhower Medical Center v. Superior Court, May 21, 2014 Opinion, California Court of Appeal, Case No. E058378. More…

Read full article

Legal Alert, September 2014

Have you considered investing in Latvia? Then you should know that recently substantial amendments have been introduced to the laws of Latvia in relation to investments in real estate and purpose investments related to obtaining temporary residence permit.

With respect to that, the summary prepared by TARK GRUNTE SUTKIENE is aimed at drawing your attention to the amendments to the Immigration Law that enhance requirements for candidates desiring to obtain temporary residence permits in Latvia, and amendments to the Law on Land Privatisation in Rural Areas, which significantly change the terms and conditions for transactions with rural land, especially agricultural land. 

Read full article

Multiemployer Pension Plan: Serious challenges Multiemployer Pension Plans in 2014

Multiemployer pension plans which are the product of the collective-bargaining process, offer employers, especially small businesses, the opportunity to provide retirement benefits to their workers without the administrative expenses and burdens of sponsoring a separate company retirement plan. The Employee Retirement Income Security Act (ERISA), enacted in 1974, established a pension plan termination insurance program whereby the Pension Benefit Guaranty Corporation (PBGC), a wholly-owned U.S. Government corporation, administered an insurance program for participants in both single-employer and multiemployer pension plans. Prior to the enactment of ERISA, multiemployer plans had broad discretion to modify provisions of the plan that, after adoption, were found to be unaffordable over time. Prior to the passage of the Multiemployer Pension Plan Amendment Act of 1980 (“MPPAA”), a company with union employees participating in a multiemployer plan could simply walk away from the multiemployer plan to which it had previously contributed and leave the remaining participants liable to fund past service liabilities, plus the costs of current and future service liabilities. The MPPAA created the concept of multiemployer plan withdrawal liability under which employers who left multiemployer plans with unfunded vested benefits were assessed a withdrawal fee based on their proportionate share of such underfunding.

Read full article

Multiemployer Pension Plan: Serious challenges Multiemployer Pension Plans in 2014

Multiemployer pension plans which are the product of the collective-bargaining process, offer employers, especially small businesses, the opportunity to provide retirement benefits to their workers without the administrative expenses and burdens of sponsoring a separate company retirement plan. The Employee Retirement Income Security Act (ERISA), enacted in 1974, established a pension plan termination insurance program whereby the Pension Benefit Guaranty Corporation (PBGC), a wholly-owned U.S. Government corporation, administered an insurance program for participants in both single-employer and multiemployer pension plans. Prior to the enactment of ERISA, multiemployer plans had broad discretion to modify provisions of the plan that, after adoption, were found to be unaffordable over time. Prior to the passage of the Multiemployer Pension Plan Amendment Act of 1980 (“MPPAA”), a company with union employees participating in a multiemployer plan could simply walk away from the multiemployer plan to which it had previously contributed and leave the remaining participants liable to fund past service liabilities, plus the costs of current and future service liabilities. The MPPAA created the concept of multiemployer plan withdrawal liability under which employers who left multiemployer plans with unfunded vested benefits were assessed a withdrawal fee based on their proportionate share of such underfunding.

Read full article