Lawyers hit with extra tax burden
Some lawyers working for firms in India are facing an additional tax burden after the government made some changes in its 2016 budget. These include removing tax exemptions and proposing a 14 per cent tax on a senior advocates providing services to advocate or partnership firms.
The India Times reports that critics say the changes are contrary to the opening up of India’s legal market to foreign firms. "This sort of taxation will discourage the PM's dream to make India an arbitration hub in line with Singapore and London,” Lalit Bhasin, president of the Society of Indian Law Firms told the paper.
Delhi High Court Bar Association President Rajiv Khosla added: "The government has tried to divide the legal fraternity on the basis of law firms and litigating advocates.”
Corrs appoints sixth new partner of 2016
Aussie law firm Corrs Chambers Westgarth has hired its sixth new partner of the year with prominent litigation and commercial disputes lawyer Simon Johnson joining from Norton Rose Fulbright. His practice is focused on technology and financial services sectors. He is based in the firm’s Sydney office.
High profile hire for Skadden in Hong Kong
Steve Kwok has joined Skadden, Arps, Slate, Meagher & Flom in Hong Kong as a partner. Kwok will focus on matters relating to US firms including litigation and regulatory compliance having previously been an advisor to the US Department of Justice at the US Embassy in Beijing. Kwok is a former assistant US attorney and came to the Asia Pacific region two years ago as an attaché.
Eight new partners at Latham Watkins
International law firm Latham Watkins has promoted eight counsel to its partnership including two in Hong Kong. Capital markets lawyer Benjamin J. Carale and project development and finance lawyer Sungjin Kang are the two new partners in the region. The other six are from Europe, the Middle East and the US.