What does this new landmark law mean for service providers? The Digital Services Act (DSA) establishes a framework for an unprecedented level of transparency, accountability and fairness for digital services in the EU. It imposes obligations in a cascading fashion, with a base level of universal obligations and more onerous obligations applying to three specific categories of service provider. The DSA applies where recipients of a service are based in the EU, regardless of the service provider’s place of establishment....

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The Internal Revenue Service is ready, willing and able to help authorities worldwide with tax enforcement – especially with the sharing of taxpayers’ information. In Zhang v. United States, taxpayers recently appealed a decision from the U.S. District Court for the Northern District of California that denied their petition against an IRS summons for information. The summons was at the request of the Canadian tax authority; the U.S. and Canada have a bilateral tax treaty. The Ninth Circuit Court sided with the...

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The monthly newsletter gives you an overview of recent notable changes in Canadian and American immigration. Here is an overview of the most recent news as of January 31th, 2023. CANADA Prohibition on the Purchase of Residential Property by Non-Canadians Regulations As announced at the end of last year, the Act prohibiting the purchase of residential immovables by non-Canadians came into force on January 1, 2023, and so for the next 2 years. This Act is the result of collaborative work between...

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Key insights Understanding the basic framework of check-the-box regulations can help buyers and sellers identify potential U.S. income tax and reporting risks. A thorough understanding of a U.S. target’s global tax structure can allow buyers to plan for postacquisition restructuring. Accurate reporting of a U.S. target’s global tax structure can allow both buyers and sellers to negotiate tax-efficient deal structuring. Understanding the basic framework of tax classification regulations can help buyers and sellers identify potential U.S. income tax and reporting...

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The EIB is continuing to spearhead market developments in the digitalisation of capital markets with a fully digitally native bond issuance in pound sterling. The £50 million digital bonds, which bear a floating rate of interest, are registered in a private blockchain that ensures privacy and efficiency, while a public blockchain mirror record provides increased transparency on an anonymised basis. The EIB has appointed BNP Paribas, HSBC and RBC Capital Markets as joint lead managers. The digital bonds will...

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The “move fast and break things” mantra, once the loudest guest at tech events in Silicon Valley in California to Dublin’s Silicon Docks is ever closer to being shown the exit. It would seem that EU regulators are relishing their role as the polite but stern doorman. The EU is on a roll these last few years and has been dialling up the regulatory pressure on tech companies of all shapes and sizes. We’ve had updated medical device legislation, the...

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