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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04 Sep
Member News

Loyens & Loeff | Belgium: Return to the usual rules concerning temporary unemployment

As of 1 September 2020, the usual rules for temporary unemployment due to force majeure or for economic reasons will apply again, with the exception of the following nuances and deviations: Application of transitional measures until 31 December 2020 if the temporary unemployment regime for economic reasons is invoked; Keeping the simplified procedure for temporary unemployment due to force majeure (corona) for sectors or companies that have been particularly affected by the crisis. Keeping of the simplified procedure for sectors...

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04 Sep
Member News

BBGFX | September 2020 FX Outlook

The US dollar's rally in the initial phases of the pandemic has been unwound, and sentiment appears to be the most negative since the Great Financial Crisis.  New lows for the year against the euro, Swiss franc, the British pound, Swedish krona, and the Australian dollar were recorded in recent weeks. The Dollar Index (DXY), which is heavily weighted toward Europe, fell by over 4% in July, the largest monthly decline in a decade, and another 1.25% in August. ...

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04 Sep
Brexit News, Member News

Vulcan Insight | UK Failure to Engage makes Agreement Unattainable, Barnier Says

The UK can’t have its cake and eat it too, so warned the EU’s chief negotiator Michel Barnier during his address to the Institute of International and European Affairs (IIEA) in Dublin on Tuesday. In his latest comments on the UK’s lack of engagement in negotiations over its future relationship with the European Union, Barnier stuck to the mantra that an EU-UK partnership was possible, “provided the conditions were right”. Frustration with the UK remains over its reluctance to guarantee...

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03 Sep
Member News

CLA | What Businesses Need to Know About Payroll Tax Deferral

Key insights The deferral does not appear to be mandatory. The employer is ultimately responsible for withholding and depositing the deferred tax. Employees will see higher wages paid throughout the end of the year, but there may be challenges in administering the deferral. On August 8, 2020, President Trump issued a presidential memorandum directing the secretary of the treasury to defer the withholding, deposit, and payment of certain payroll tax obligations. Employees can defer paying their share of Social Security tax on...

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03 Sep
Member News

Stibbe | COVID-19 impacts level and payment of antitrust fines

As well as granting companies leeway on certain COVID-19 initiated collaborations (see our May 2020 newsletter), the coronavirus outbreak has also led competition authorities to take a more lenient stance towards fine calculations and payments. The European Commission has extended the due date for fine payments by an additional three months in response to potential short-term liquidity issues brought about by the pandemic. Similar reasons led the Dutch Trade and Industry Appeal Tribunal to reduce a EUR 1 million cartel fine...

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03 Sep
Chapter News, COVID-19 News

OECD | Countries have responded decisively to the COVID-19 crisis, but face significant fiscal challenges ahead

Governments have taken unprecedented fiscal action in response to the COVID-19 crisis, but countries will need to support economic recovery in the face of significantly increasing fiscal challenges, according a new OECD report. Tax Policy Reforms 2020 describes the latest tax reforms across OECD countries, as well as in Argentina, China, Indonesia and South Africa. The report identifies major tax policy trends adopted before the COVID-19 crisis and takes stock of the tax and broader fiscal measures introduced by countries...

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03 Sep
Member News

Enterprise Ireland | How the Pandemic Has Pushed the Pace of Change

Accelerating Business Development in a Post-Pandemic Environment | 1. Introduction: How the world has changed It’s possible that business and business practices may have changed more in the past five months than in the previous five years. From logistics to supply chain, finance, HR, communications, and sales and marketing, few areas have been untouched. Businesses have had to pivot and pivot, and then pivot again. What started as a contingency strategy, has become a rolling strategy to address the shifting business...

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