18 Nov
Chapter News

ECB | From “orderly transition” to “hot house world” – how climate scenarios can facilitate action

A shared understanding of how climate change affects the economy can be the basis for global action. To help inform and guide policy across the globe central bankers and supervisors have developed climate scenarios. This is the final post in a series on the occasion of COP27. Climate change is happening right now, and is already having an impact on us all, though not everywhere in the same way. But do we share a common understanding of how climate change...

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17 Nov
Chapter News

New OECD data highlight multinational tax avoidance risks and the need for swift implementation of international reform

New data released today highlight continuing base erosion and profit shifting (BEPS) risks and the need to implement the two-pillar solution to ensure that large multinational enterprises (MNEs) pay a fair share of tax wherever they operate and earn their profits. The OECD’s latest annual Corporate Tax Statistics, covering over 160 countries and jurisdictions, includes new aggregated Country-by-Country Report (CbCR) data on the activities of almost 7,000 MNEs, representing a major boost in tax transparency efforts. The new CbCR data show that the...

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17 Nov
Member News

WRRGA | Decline of globalisation will make our planet less prosperous and more unliveable

Initially published in the South China Morning Post | The unfolding trade, tech and cold wars between the US, China and their allies risk eroding the international rules-based architecture Without a system for connection and exchange, economies will shrink, cooperation will wither and global crises will mount When world powers and their economies clash, driven by national ideological differences and geopolitical goals, cooperation and coordination withers and trade – reliant on common norms, openness and engagement – shrinks. Economies shrink too, as...

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16 Nov
Chapter News

Speech by EU Commissioner Simson for the Opening of the EU Energy Day at COP27

"Check against delivery" Good morning, ladies and gentlemen, and welcome to the EU pavilion here at COP27, to open our energy day. We meet here after a difficult year. Climate change has left its mark on the world with wildfires and droughts, freak storms and floods. Russia has attacked a peaceful neighbour and made energy into a political weapon. And we are facing a truly global energy crisis, triggered by Russia's actions. For Europe in particular, the latter has meant drastically smaller...

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16 Nov
Chapter News

Statement by President von der Leyen at the COP27 plenary meeting

In February, in the same week that Russia invaded Ukraine, the IPCC issued a stark warning to the global community. Its message could not have been clearer: the climate is changing faster than our capacity to adapt. So the world must deliver better and faster. The global fossil fuel crisis must be a game changer. And my friends, let us not take the highway to hell; let us earn the clean ticket to heaven. That is our responsibility. For Europe,...

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16 Nov
Chapter News

EU Commission proposes stable and predictable support package for Ukraine for 2023 of up to €18 billion

Following the European Council meeting of 20-21 October 2022, the Commission has today proposed an unprecedented support package for Ukraine of up to €18 billion for 2023. This will come in the form of highly concessional loans, disbursed in regular installments as of 2023. This stable, regular and predictable financial assistance – averaging €1.5 billion per month – will help cover a significant part of Ukraine's short-term funding needs for 2023, which the Ukrainian authorities and the International Monetary Fund...

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16 Nov
Member News

IWTA | FinCEN’s New CTA Rule Creates a Roadmap for Domestic and Foreign Entity Tax Penalty Avoidance

Part one of a two-part series Since the Corporate Transparency Act (CTA) was enacted in January 2021, there have been many questions about what kinds of companies will have to report under the law and how beneficial ownership will be defined. On September 30, 2022, after months of development, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued the final rule for beneficial ownership reporting under the Corporate Transparency Act. The final rule, which will ease compliance burdens on companies,...

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15 Nov
Member News

Troutman Pepper | ‘More Privacy, Please’ November 2022 Edition

Editor's Note: The California Privacy Protection Agency released amendments to its draft regulations, and the Consumer Finance Protection Bureau contemplates rulemaking on sharing financial data. In U.S. litigation, the first Illinois Biometric Information Privacy Act jury trial took place, and the Third Circuit provided further guidance on data breach litigation. In international news, the French Data Protection Authority fined Clearview AI for personal information collection violations. US Laws and Regulation CPPA Publishes Updates to Draft Regulations. On November 3, the...

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15 Nov
Member News

IPTI | Update on U.S. & EU Property Tax Issues: November 2022

The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep its members up to date with the latest developments in property taxes in the USA and Europe. IPTI has put together below a selection of articles from IPTI Xtracts; more articles can be found on its website (www.ipti.org). United States New York: Real Estate Makes Up Larger Share Of NYC's Tax Revenue Even Amid Value Reset Real estate taxes have steadily become a larger and larger part of...

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15 Nov
Chapter News

ECB | Can Europe be a green innovation leader?

Europe is punching below its weight in the climate-technology competition. The continent needs to facilitate risk capital markets and to invest more in research and development. This is the 4th post in a series of climate-related entries on the occasion of COP27. Virtually non-existent half a century ago, nowadays climate-friendly technologies and products like the electric car, the solar panel and the heat pump are all around us. This often creates the wrong impression that timely green transition is just...

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