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Indonesia: Capital Requirement for Starting a Business Reduced

(Apr. 8, 2016) On March 21, 2016, Indonesia’s President, Joko Widodo, signed into effect a regulation changing the requirement for starting a business in the country. The previous requirement that any new limited liability company have initial capital of at least RP50 million (about US$3,780), with at least 25% of that already in hand, has […]

Vietnam: Reduction in State Holdings of Businesses Being Considered

(Mar. 22, 2016) Vietnam’s Ministry of Planning and Investment (MPI) is considering issuing a decision that would change the status of some state-owned enterprises (SOEs) and open some industrial sectors to more non-state investment. The decision would divide SOEs into three categories: those that are wholly state-owned, those with at least 65% state holdings, and […]

Ukraine: New Law on TV Ownership

(Oct. 7, 2015) On September 3, 2015, the Verkhovna Rada (legislature) of Ukraine passed a Law that introduces detailed definitions of ownership and interest in television and other broadcast companies, provides for new rules on television station ownership, and establishes new financial disclosure requirements for owners. (Law No. 674-VIII on Amending the Legislative Acts of […]

Ireland: New Companies Act Takes Effect

(June 19, 2015) On June 1, 2015, the Companies Act 2014 took effect in Ireland. (Companies Act 2014, No. 38/2014, IRISH STATUTE BOOK.) This is the largest piece of legislation ever enacted in Ireland, comprising a total of 25 Parts (1448 sections) and 17 Schedules. The Act consolidates 16 existing Companies Acts – dating from […]

OHADA: Revised Uniform Act on Companies

(Mar. 14, 2014) The Council of Ministers of the Organization for Business Law Harmonization in Africa (Organisation pour l’Harmonisation en Afrique du Droit des Affaires, OHADA) adopted a “significantly revised” Uniform Act on Commercial Companies and Economic Interest Groups on January 30, 2014; the original Act was adopted on April 17, 1997. The new Act […]

China: Company Law Revised to Remove Registered Capital Requirements

(Mar. 12, 2014) On December 28, 2013, the Sixth Session of the 12th Standing Committee of the National People’s Congress of China made a decision to revise the Company Law of the People’s Republic of China. The revised law came into force on March 1, 2014. (Decision of the Standing Committee of the National People’s […]

Poland: Corporate Taxation Changes

(Nov. 25, 2013) Poland’s Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena van Doom-Olejnicka, Poland: Partnerships Become Corporate Entities – Parliament Passes Amendments to Corporate Income Tax Law, […]