24 Apr
Member News

‘A WAVE OF CHANGE’ – The Toy Association Responds to Evolving Member Needs with New Strategy, New Name, & Major Rebrand, Driving Change Across the Organization

The Toy Association – the largest trade association of its kind in the world – today unveiled a new mission statement, new name, and major re-brand driven by an innovative strategic plan. Formerly called the Toy Industry Association, The Toy Association supports a diverse membership whose global reach is revolutionizing the face of toys and play. The organization’s member-focused programs, products, trade shows, and consumer events promote international business growth for all members. Its new tagline, “Inspiring Generations of...

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24 Apr
Member News

IPTI News, May 2017: Update on Property Tax Issues in the U.S.

The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep members up to date with the latest developments in property taxes both in the USA and Europe. New York City and State – POPULAR TAX INCENTIVE RETURNS (BUT PERHAPS IN NAME ONLY): The 421-a program was established in 1971 as a property tax incentive intended to spur residential development in New York City.  Its proponents viewed it as a means to generate affordable apartments and thereby curb...

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24 Apr
Chapter News

Communiqué of the Thirty-Fifth Meeting of the IMFC

Global economy The global economic recovery is gaining momentum, commodity prices have firmed up, and deflation risks are receding. While the outlook is improving, growth is still modest and subject to heightened political and policy uncertainties. Crisis legacies, high debt levels, weak productivity growth, and demographic trends remain challenging headwinds in advanced economies; while domestic imbalances, sharper-than-expected financial tightening, and negative spillovers from global uncertainty pose challenges for some emerging market and developing countries. Trade, financial integration, and technological innovation have...

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24 Apr
Chapter News

Euro Area and EU28 Government Deficit at 1.5% and 1.7% of GDP Respectively

In 2016, the government deficit and debt of both the euro area (EA19) and the EU28 decreased in relative terms compared with 2015. In the euro area the government deficit to GDP ratio fell from 2.1% in 2015 to 1.5% in 2016, and in the EU28 from 2.4% to 1.7%. In the euro area the government debt to GDP ratio declined from 90.3% at the end of 2015 to 89.2% at the end of 2016, and in the EU28 from...

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21 Apr
Member News

James Bacchus: Border Tax Would Smack U.S. Economy with Higher Prices, Fewer Jobs

Speaker Paul Ryan and other leading House Republicans are pushing a tax plan that would exempt income from exports from U.S. corporate taxes while denying tax deductions for the costs of imported inputs of goods and services into U.S. production. This proposed “border adjusted tax” could cause cascading harm to U.S. consumers, workers, manufacturers, retailers and, indeed, the entire U.S. economy. In effect, this so­-called BAT would tax imports and subsidize exports. It would discriminate against imported products by denying them...

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21 Apr
Member News, Uncategorized

The Foundations of our Freedom: How global institutions uphold our international order

  By Sally A. Painter As the European Union celebrates the 60th anniversary of the Treaty of Rome, it is impossible to ignore that the fate of international institutions in the West is in question. Whether in the form of Brexit, Trump, governments in Hungary and Poland, or populist candidates across Europe, antipathy and distrust towards international institutions and multilateral arrangements has brought new calls for the re-nationalization of state authority, sovereignty, and local identity. How did we get here? International institutions and...

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21 Apr
Member News

Informal tax practice regarding stock options and personal service companies now prohibited, but tolerated for the past

On 13 April, a circular letter (Dutch/French) was issued by the Belgian General Tax Administration that puts an end to a discussion that had been going on for some time with respect to the reduced valuation of stock options or warrants granted to persons who use a personal service company to deliver services. While the informal practice of applying the lower of two valuation methods for the benefit in kind is now outlawed, the Minister of Finance implicitly tolerates the...

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20 Apr
Chapter News, Uncategorized

Current Challenges to the Euro Area: A German Perspective

Speech by Dr Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank, Columbia University, New York: Ladies and gentlemen, It is a great pleasure to be here at Columbia University today. It is an excellent occasion to cherish the transatlantic exchange of ideas – something that has accompanied me throughout my entire career and from which I personally have always benefited. For the next half an hour, I am going to talk about the current challenges in the euro area. I...

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20 Apr
Chapter News

Results of the March 2017 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets (SESFOD)

Less favourable non-price terms for secured funding and for non-cleared OTC derivatives Worsened market liquidity for underlying collateral Less favourable credit terms than one year ago for most counterparty types Survey respondents reported that credit terms offered to counterparties, both in the provision of finance collateralised by euro-denominated securities and in OTC derivatives markets, tightened for all counterparty types when comparing the three-month reference period from December 2016 to February 2017 with the previous three months. By and large,...

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20 Apr
Chapter News

Fuel Efficiency Improvements of New Cars in Europe Slowed in 2016

The fuel efficiency of new cars sold in the European Union (EU) continued to improve last year but at a slower rate. In fact, the 1.4 grammes (g) of carbon dioxide (CO2) per kilometre (km) reduction compared to 2015 constitutes the smallest annual improvement recorded over the last decade, according to provisional data published today by the European Environment Agency (EEA).  Image © Ben McLeod Average CO2 emissions of a new car sold in 2016 were 118.1 g CO2/km. This represents...

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