33100500_1 4 Belgium v Spain (Barcelona Traction) ICJ 1970 Belgian shareholders in Canadian company with investment in Spain. After Spanish courts/ authorities seized assets, Belgium sought to assert right to espouse diplomatic protection on behalf of shareholders.
Understanding the Best Interest Contract (BIC) Exemption Initially a more controversial part of the initial DOL proposal, the final rule includes a Best Interest Contract exemption that allows a financial institution to receive variable compensation.
A personal exemption (not to be confused with the Health Care penalty exemption) is tax-free money you get to deduct from your income for every taxpayer and dependent claimed on your return. For 2016, the exemption is $4,050 per person, which means a jointly-filing couple with 2 dependents get an exemption of $16,200 (4 people x $4,050). This amount is subject to a phaseout, or reduction, once you go above a certain AGI level (for example, on joint returns the phaseout kicks in at $311,300).