by Jyotsna Bucktowar | Sep 13, 2024
The burden of the recordkeeping requirement imposed by this rule is minimal because the records required to be maintained are likely maintained under standard business practice. The recent increase in the recordkeeping period to 10 years from five years could impose a...
by Jyotsna Bucktowar | Jan 15, 2024
President Biden signed into law the Foreign Extortion Prevention Act (FEPA), criminalising the demand-side bribery by foreign officials. This includes the demand or acceptance of a bribe from a U.S. citizen, company, or issuer, or anyone located within the territory...
by Jyotsna Bucktowar | Jan 11, 2024
President Biden signed the NDAA for Fiscal Year 2024 on December 22, 2023, affecting US export controls, sanctions, and supply chains. The legislation strengthens the AUKUS partnership and imposes sanctions for corruption while introducing procurement restrictions...
by AdrianaAMLP | Jan 1, 2024
The new rules will provide tax administration of the EU Member States with payment information allowing them to detect VAT fraud more easily, with a particular focus on e-commerce which is particularly prone to VAT non-compliance and fraud. This in turn creates holes...
by Jyotsna Bucktowar | Dec 11, 2023
The 2023 amendment to money laundering regulations mandates reduced enhanced due diligence for domestic politically exposed persons (PEPs) compared to foreign PEPs, aligning with the Financial Services and Markets Act 2023.
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