On 20th –
24th September 2021 KIELTYKA GLADKOWSKI KG LEGAL is taking part in London Tech
Week that gathers the world’s most inspirational founders, global leaders,
senior investors and rising stars to collaborate and discuss the vital role of
technology in society. This year’s edition will be divided into thematic
sections, including, inter alia, 5G World, Climate Tech 2021, HealthTech
Summit, Reimagining Healthcare through AI, AI Summit, Global Leaders Innovation
Summit, the Quantum Computing Science.
Plural
form of this phrase suggests that there is a set of various services, actions
that provide a financial (payment to be more precise) services to the merchant.
Merchant services are situated between the merchant and the costumer during the
commercial transaction, because the money should move through the merchant
services provider’s system. Merchant services are provided via credit cards,
debit cards, electronic payments methods. Typically the banks, credit card
companies or other businesses are providers of such services.
In
the cryptocurrency sector merchant services encompass cryptocurrency payment
services.
How
merchant services work?
Merchant
services receives cryptocurrency payment from a customer on behalf of the
merchant. A merchant will receive funds via immediate settlement to their bank
account, or may choose to settle in cryptocurrency.
Cryptocurrency
can now be accepted online and in person, for online transactions you will
require a payment gateway which will accept cryptocurrency. The most common way
is through bitcoin online payments; however, solutions are available for most
mainstream providers.
The Wall Street Journal recently described quirks in the U.S. Tax Treaty with Malta that became a popular topic in the legal advice sector.[1] In the said article, WSJ describes an offshore tax shelter (a tax regulation in Malta) which promises rich Americans they can avoid lots of capital-gains taxes by setting up pensions in Malta. This issue is not only American struggle with tax abuse. For instance, Poland has also signed an international tax treaty with Malta (Agreement between the Government of the Republic of Poland and the Government of Malta for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income signed in La Valetta on 7 January 1994)[2] and in 2020 the Treaty was amended due to the necessity of closing loopholes in the international (bilateral) tax system[3]. Moreover as a restoration of the Polish industry after COVID-19 pandemic, the Polish Government and the Ministry of Finance prepared the new Tax Act which shall prevent the change of the entity’s tax residence to the offshore tax shelter [4].
Before
we move to the tax abuse based on the U.S. bilateral tax treaty with Malta it
is advisable to start with Treaty’s provisions treatment.
U.S.
– MALTA TAX TREATY
The Treaty was done in 8 August 2008 and came into force in late 2010. As Jeffrey L. Rubinger wrote The Treaty contains very favorable provisions that can result in significant tax benefits to U.S. members of a Maltese pension. In order for such U.S. members to take advantage of these benefits, the pension must qualify as a resident of Malta under the Treaty and also satisfy the limitation on benefits (LOB) article of the Treaty. [5]In his article Rubinger enumerates the Treaty’s provisions that could become a victim of the interpretation tax abuse.
On 7 September 2021 KIELTYKA GLADKOWSKI will take part in the Webinar Analysing the Role of Telemedicine in Post-Pandemic Careorganised by Reuters Events in conjunction with the Digital Health division of the World Health Organisation which provides opportunities to accelerate progress in attaining health and well-being related Sustainable Development Goal (SDGs), especially SDG 3, and achieving triple billion targets for 2023 as articulated in its Thirteenth General Programme of Work (GPW13).
The webinar will focus on the growing
importance of remote telemedicine, its aspects and opportunities. The speakers
will include:
– Peter Thomas, CCIO and Director of
Digital Medicine at Moorfields Eye Hospital
– Toralf Schnell, Chief Digital Officer and
Head of the Digitization Unit at University Medicine Greifswald
– Dr. Evgeny Zheleznyakov, Technical
Officer, WHO European Centre for Primary Health Care.
Telemedicine and digital health remains in
the core specialisation of lifescience and healthcare expertise of KIELTYKA
GLADKOWSKI, having vast experience in handling projects at the intersection of
new technologies and healthcare, including data protection, regulatory and
transactional aspects.
On 2 to 4 November 2021 KIELTYKA GLADKOWSKI KG LEGAL will take part in the virtual SPG 2021 Forum organised by R3 (Association of Business Recovery Professionals) SPG Forum (link) is a conference for trustees, restructuring experts and their employees.
During this 3-day event, our lawyers will have the opportunity to discuss the
practical issues, participate in workshops and network with peers.
Some of the topics discussed will be the current regulatory framework for
insolvency practitioners, key legal changes affecting the insolvency and
restructuring of people and companies, and the exclusion of directors, the FCA’s
guidelines for managers appointed or intended to be appointed by regulated
firms; panel sessions with representatives of the financial industry discussing
their experiences with the pandemic, recovery and new market trends; workshops,
during which it will be possible to look at issues related to the insolvency of
a real estate enterprise; workshop sessions during which the investigation and
prosecution of claims in insolvent real estate will be discussed in-depth; interactive
workshops, entirely devoted to the possibilities of the hotel business dealing
with the challenges of the pandemic.
