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Nick Rucker of Lawrence Graham LLP explores planning and structural issues for ultra-high-net-worth families and individuals

Merger control in Macedonia is regulated by the Law on Protection of Competition (LPC). Its purpose is to ensure free competition on the domestic market in order to encourage economic efficiency and consumer welfare.

On June 18 2008, the Amendment to the Act on Specified Commercial Transactions and Installment Sales Act came into force. In Japan, the problem of fraudulent door-to-door sales is a serious social issue. In addition, there have been many problems stemming from internet advertising including unsolicited commercial email (spam), leaking confidential personal information and difficulties with returns and refunds. The amendment revises the laws to cope with these issues and enhance consumer protection. This amendment introduces several new regulations including: (1) a ban against re-soliciting business from customers who have already declined a door-to-door sale; (2) provisions allowing customers to cancel sales involving excessive quantities of products; (3) the strengthening of regulations and supervision of credit providers; and, (4) a ban against the sending of spam.

To allow better capital flow, there must be a harmonisation of market regulations across the Middle East, says Federico Salinas of Dewey & LeBoeuf

Generally, under US federal income tax law, a foreign person's gain from the disposition of an interest in US real property is deemed to be effectively connected with a US trade or business. As a result, any such gain is subject to income tax at rates up to a maximum of 35% in the same manner as a US taxpayer. For this purpose, an interest in US real property includes any direct or indirect right to share in the appreciation in the value of real property. In addition, US source income received by a foreign person and not effectively connected with a US trade or business is generally subject to a flat 30% tax, although this rate may be decreased or eliminated by an applicable tax treaty or an exception under domestic US tax law. In contrast, non-US-source income received by a foreign person (such as income derived in respect of most swaps) is generally exempt from US federal income tax. Until recently, it was unclear whether income derived in respect of a swap on US real estate interests should be exempt from US tax.

Three takes on China's rather confusing law

On June 27 2008 Government Ordinance 85/2008 concerning incentives granted to investors by the Romanian authorities came into force, being published in the Romanian Official Gazette and replacing Law 332/2001, which previously governed investments with a large effect on the national economy.

How the association is trying to get changes made to insolvency legislation in the UK

The vagaries of the new law will mean big delays for competition enforcement

Codes in Denmark, Sweden and the UK show that different approaches are needed in different countries. Is the EC watching?