The legal and political implications of extraterritoriality for international business transactions

The adjudication on exercises of extraterritoriality by domestic constitutional courts, for example, sets the stage for a broader debate as to the appropriate place of national courts in global governance and transnational crime regulation.

The legal and political implications of extraterritoriality for international business transactions

This may happen as they set up servers locally to comply with a central bank directive on data storage. The Reserve Bank of India had ordered payments companies to locally store data on all transactions taking place within India from October Visa, Mastercard and American Express mentioned that they had taken steps to comply with the regulation.

The companies work and offer their services here through offices in jurisdictions such as Singapore and store data on servers located in countries like the US and Ireland.

Recommended publications

As soon as they move their servers to India, the companies will be seen as having a permanent establishment here, triggering domestic taxes. However, most of the major payment companies are already looking at ways to deal with the likely tax implication.

On the other hand, there could be other tax implications as well. Tax implication over the RBI circular may be a beginning to a bigger worry that many other companies may also face.

The legal and political implications of extraterritoriality for international business transactions

India is looking to bring in a data protection law whereby domestic data must be stored on servers located in India.Extraterritorial Jurisdiction: Lessons for the Business and Human Rights Sphere from Six Regulatory Areas 1.

2 of the political and legal importance of territorial sovereignty: the idea that each state combat bribery in international .

IP Breakdown | A Legal Blog by Aaron | Sanders, PLLC - Part 3

The Election Commission has appointed Ashish Kundra as the New Chief Electoral Officer of Mizoram, replacing the present incumbent S. B. Shashank. Mr. Kundra is the principal secretary of the General Administration Department of Mizoram.

For companies doing business in Asia.

Earlier last week, demanding a removal of CEO Shshank, there. Some of the associated risks have far reaching implications for deposit insurance, banking and legal practice. At present, digital currency does not pose global financial stability risks.

The legal and political implications of extraterritoriality for international business transactions

This paradigm presents a clear challenge especially to multinational corporations ("MNCs") that operate on an international scale and which consequently must concurrently adhere to the rules and regulations of several – and potentially conflicting – jurisdictions in their business operations.

The phenomenon of extraterritorial jurisdiction, or the exercise of legal power beyond territorial borders, presents lawyers, courts, and scholars with analytical onions comprising layers of national and international legal issues; as each layer peels away, more issues are revealed.

Nation states are increasingly asserting jurisdiction over criminal offenses that occur extraterritorially. In some instances, this can cause political tension and legal uncertainty, as the principles of jurisdiction under international law do not adequately resolve competing claims.

Research Handbook on Electronic Commerce Law () - John A. Rothchild | Krisostomus