08 Sep
Member News

GOP | Italian Tax Authorities clarify the tax treatment of perpetual, subordinated and equity-accounted bonds

With Ruling no. 291 of 31 August 2020 (“Ruling”), the Italian Tax Authorities (“ITA”) confirm  that perpetual, equity-accounted and subordinated bonds qualify as debentures similar to bonds (titoli similari alle obbligazioni) for Italian tax purposes. The Ruling concerns financial instruments with the following features: they are perpetual instruments, as the issuer shall reimburse the capital only in the event of the winding-up (or other similar events) of the issuer; the early repayment may be made by the issuer at its...

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08 Sep
Member News

Faegre Drinker | Business Email Compromise Scams: What You Should Know and What You Can Do To Be Prepared

Business Email Compromise (BEC) scams have become increasingly commonplace and financially destructive. According to the Federal Bureau of Investigation (FBI), 2019 was the worst year on record for BEC scams — both in terms of the number of attacks and the financial losses incurred because of the scams. 2020 figures to be even worse, as businesses have increasingly been victimized by attackers seeking to exploit companies whose employees are working remotely due to the COVID-19 pandemic. As the risk...

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08 Sep
Member News

MHC | Working From Home – Tax and Employment Law Implications

The COVID-19 crisis has had a profound impact on the way we live, interact and work. As government policy over the last number of months has advised (1) working from home where possible and (2) against non-essential local and international travel, working from home (WFH) has become the norm for many employees. For most employees, WFH has meant confining themselves to the desk or kitchen table from their house/apartment/flat-share a few miles from the office, always on the basis that...

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08 Sep
Chapter News

State aid: EU Commission invites comments on State aid rules for the deployment of broadband networks

The European Commission has launched a public consultation inviting Member States and other stakeholders to provide their views and comments on the existing EU State aid rules on public support for the deployment of broadband networks. The public consultation is part of an overall evaluation by the Commission of the relevant rules with a view to assess whether they are still fit purpose or whether they will need to be updated in light of recent technological and market developments. All interested...

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08 Sep
Chapter News, Trade & TTIP Related

EU Commission adopts proposal to make EU-U.S. agreement on tariffs effective

The European Commission today published a proposal for a Council and European Parliament regulation to scrap duties on certain imports to the EU. In return, the United States will reduce its duties on certain EU exports to the U.S. market. This will put into effect the agreement announced by the EU and the U.S. on 21 August 2020. These tariff reductions between the EU and the U.S. will increase access to both EU and U.S. markets by around €200 million per...

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08 Sep
Chapter News

Integrating migrants and refugees into the labour market: EU Commission and social and economic partners relaunch cooperation

September 07, the Commission, trade unions, chambers of commerce and employers' organisations are renewing their cooperation to enhance the integration of migrants and refugees into the labour market. In a joint statement released today, they highlight areas for future focus, and express interest in cooperating further in the area of labour migration under the European Partnership on Integration launched in 2017. The signatories reaffirm the importance of a multi-stakeholder approach for early integration into the labour market benefitting both refugees and the...

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08 Sep
Brexit News, Chapter News

John Bruton | We need a full strength team on the pitch as Brexit reaches the endgame

It is increasingly likely that, unless things change, on 1 January 2021, we will have a no deal Brexit. The only agreement between the EU and the UK would then be the already ratified Withdrawal Agreement. There are only 50 working days left in which to make a broader agreement. The consequences of a failure to do so for Ireland will be as profound, and even as  long lasting, that those of Covid 19. A failure to reach an EU/UK Agreement...

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08 Sep
Member News

Vulcan Insight | Mairead McGuinness nominated as European Commissioner for Financial Services

European Commission President Ursula von der Leyen this morning confirmed her intention to nominate Irish MEP Mairead McGuinness for the Financial Services, Stability and Capital Markets portfolio in a small reshuffle of the Commission’s political leadership. In the reshuffle announced today, Commission Executive Vice-President Valdis Dombrovskis, currently in charge of the financial services portfolio will take over as EU Trade Commissioner. The position was vacated when Phil Hogan resigned on 26 August over a political scandal in Ireland over his...

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04 Sep
Chapter News

European Green Deal: EU Commission prepares new initiatives to boost the organic farming sector

The European Commission has today launched a public consultation on its future Action Plan on Organic Farming. This sector will play an important role in achieving the European Green Deal ambition, and reaching the objectives set out in the Farm to Fork and Biodiversity Strategies. It is a priority for the Commission to ensure that the organic farming sector has the right tools in place as well as a well-functioning and consensual legal framework which is key to achieving the objective...

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04 Sep
Chapter News

Coronavirus: EU Commission proposes more clarity and predictability of any measures restricting free movement in the European Union

The Commission has today adopted a proposal for a Council Recommendation to ensure that any measures taken by Member States that restrict free movement due to the coronavirus pandemic are coordinated and clearly communicated at the EU level. The Commission's proposal sets out four key areas where Member States should work closer together: Common criteria and thresholds for Member States when deciding whether to introduce travel restrictions; Mapping of common criteria using an agreed colour code; A common framework for measures applied to travellers...

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