06 Feb
Brexit News, Member News

What are the tax implications of Brexit?

If the UK does not end up remaining in the customs union or in the EU VAT area under a no-deal Brexit scenario, firms can expect an increase in processing time and costs. When assessing the tax impact of no-deal Brexit you have to look at the rules which are directly derived from the EU legal framework and those which are indirectly impacted. VAT, Customs Duties, State Aid and to some extent withholding tax (WHT) are the primary ones affected,...

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06 Feb
Brexit News, Chapter News, News

Joint statement by President Jean-Claude Juncker and Taoiseach Leo Varadkar

Brussels, 6 February 2019 The Withdrawal Agreement and the Political Declaration have been negotiated in good faith and have been agreed by all 27 Leaders of the European Union Member States as well as by the United Kingdom Government. As we have said on many occasions, the Withdrawal Agreement is the best and only deal possible. It is not open for renegotiation. The backstop is an integral part of the Withdrawal Agreement. While we hope the backstop will not need to be...

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05 Feb
Chapter News, News

Security Union: Commission recommends negotiating international rules for obtaining electronic evidence

5 February 2019. Brussels, Belgium   The European Commission recommends engaging in two international negotiations on cross-border rules to obtain electronic evidence. With the majority of criminal investigations requiring access to evidence based online and often outside the EU, there is an urgent need to equip police and judicial authorities with quick and efficient tools fit for modern reality. Following up on the European Council Conclusions from October 2018, the Commission presented two negotiating mandates, one for negotiations with the United States and one...

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04 Feb
Brexit News, Member News

Brexit VAT notice issued by the Luxembourg authorities

By Bruno Gasparotto, Sophie Weyten, Nicolas Conrad, Claire Schmitt The Luxembourg VAT authorities (AED) have published a short preparedness notice about the VAT related consequences of a British exit from the European Union (EU) without a withdrawal agreement as from 29 March 2019. Concerning supplies of goods between EU Member States and the United Kingdom (UK), the intracommunity rules for cross-border supplies and movements within the EU will no longer apply to the UK as from 29 March 2019. Supplies and movements of goods...

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04 Feb
Member News

Loyens & Loeff boosts Swiss capacity by attracting two new local partners

Loyens & Loeff, a leading international law & tax firm, has attracted two new local partners in its Zurich office. Andreas Hinsen will further strengthen the Corporate / M&A practice group and focus mainly on private equity. Robin Moser will set up the Litigation & Risk Management practice in Zurich. Marco Toni, Partner Loyens & Loeff: “We are delighted to have Andreas and Robin joining the team here and further bolster our strong footprint in Zurich. Whereas Andreas’ practice is a perfect fit...

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04 Feb
Member News

DSM announces agreement to increase its shareholding in Andre Pectin from 29% to 75%

Royal DSM, a global science-based company in Nutrion, Health and Sustainable Living informs its stakeholders that it agreed to increase its shareholding in Yantai Andre Pectin Co. Ltd. (Andre Pectin) to 75%. Andre Pectin is a leading specialty food ingredient producer. DSM acquired a 29% stake in Andre Pectin in 2013. After settling a shareholders dispute, DSM has now agreed with the other shareholders to purchase an additional 46% stake in Andre Pectin for a consideration of about €150 million. This...

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04 Feb
Brexit News, Chapter News, News, Uncategorized

Brexit pushes UK business confidence to its lowest level in nearly a decade

By Hadas Gold, CNN Business February 4, 2019 London (CNN Business)- Companies in the United Kingdom are spending less and scaling back plans because of Brexit fears that have pushed business confidence to its lowest level in a decade. The dire outlook was revealed Monday in surveys published by Deloitte and the Institute of Chartered Accountants in England and Wales. Deloitte found that chief financial officers have adopted their "most defensive strategy stance in nine years." Revenue growth expectations have dropped to their lowest level...

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01 Feb
Member News

Bannockburn Global Forex February Update: Is the Dollar Range Bound or is it Trending?

The new month is beginning with the US dollar at the lower end of its recent ranges against several of the major currencies, and at a couple month lows against the dollar-bloc currencies.  The key question is whether the dollar is truly breaking lower, perhaps encouraged by the Federal Reserve's pivot to a neutral stance.   On balance, we expect the dollar to remain range-bound until later in the crosscurrents of trade, the federal government's fiscal issues of both spending...

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01 Feb
Member News

Draft bill Collective Damages Claims approved by the House of Representatives

By Albert Knigge & Huib Lebbing | Houthoff Today, the Dutch House of Representatives approved the draft bill on Redress of Mass Damages in a Collective Action. With this bill, the options for starting collective actions will be broadened. The bill will allow claim vehicles to seek damages in a collective action. Currently, Dutch collective actions can only be used as a stepping stone towards obtaining financial compensation. Damages cannot be claimed. The draft bill also introduces a number of safeguards to...

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01 Feb
Brexit News, Chapter News, News

EU markets watchdog approves Brexit agreement with Britain

LONDON (Reuters) - The European Union’s markets watchdog said it has approved an agreement on supervisory cooperation with Britain after Brexit to avoid disruption to cross-border financial services like asset management. “The board agreed in substance the Memorandum of Understanding and will provide more detail shortly,” a spokesman for the European Securities and Markets Authority (ESMA) said on Thursday. The MoU was negotiated with Britain’s Financial Conduct Authority (FCA) to ensure that regulators in the bloc and London agree to exchange...

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