26 Jun
Member News

Ready for real-time invoice data reporting in Hungary?

By Sandor Karai | Head of Accounting | TMF Hungary Time is running out for VAT-registered companies in Hungary to set up and test their systems ahead of the July deadline. From 1 July 2018, all VAT-registered companies in Hungary are required to report their sales invoice data to the local tax authority in real-time. The reporting will be carried out automatically, via the Hungarian tax authority’s online invoicing portal. Are your reporting systems compatible? What do you need to do to prepare...

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25 Jun
Member News

EU Prolongs Sectoral Sanctions targeting Crimea and Sevastopol

By John Forrest, Jeroen Jansen, Valerijus Ostrovskis , Daniel Jones, Matthias Vangenechten | DLA PIPER On 18 June 2018, the Council of the European Union (EU) adopted Council Decision (CFSP) 2018/880, extending the restrictive measures introduced by the EU in response to the annexation of Crimea and Sevastopol by the Russian Federation in 2014. The restrictive measures targeting Crimea and Sevastopol will remain in place until at least 23 June 2019. Council Decision (CFSP) 2018/880 extends the measures as established by Council Decision 2014/386/CFSP and in...

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25 Jun
Chapter News

European Innovation Scoreboard 2018: Europe must deepen its innovation edge

The Commission's 2018 European Innovation Scoreboard published today shows that the EU's innovation performance continues to improve, but further efforts are needed to ensure Europe's global competitiveness. Every year, the Commission publishes a comparative assessment of the innovation performance of Member States and benchmarks it with international competitors. The data helps Member States, and the EU as a whole, assess in which areas efforts need to be focused. Elżbieta Bieńkowska, Commissioner for Internal Market, Industry, Entrepreneurship and SMEs, said: "The 2018 Scoreboard shows...

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25 Jun
Member News

Stormy weather

By William Rhodes Don’t be fooled. The high levels of volatility in emerging markets and sharp, sporadic pressures on a range of currencies, including those of Argentina, Mexico and Turkey, which holds elections on Sunday, are the opening salvos in a new period of mounting risks and uncertainties. The tensions and challenges in developing economies that will come into ever-clearer focus in coming weeks and months are not being sufficiently recognized to provide assurances that crises will be handled well – or...

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22 Jun
Member News

Update on Property Tax Issues: June 2018

The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep members up to date with the latest developments in property taxes both in the USA and Europe. IPTI has put together a selection of brief reports from articles contained in IPTI Xtracts which can be found on its website (www.ipti.org). As far as Europe is concerned, this month’s report includes articles on Germany, Greece, Ireland, and the United Kingdom. There is a separate IPTI report on the...

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22 Jun
Member News

Clubfoot to Climate Change: InterExchange Awards $20,000 to Young Americans Making a Difference

By Mark Overmann | Vice President of External Affairs | InterExchange InterExchange is excited to announce our most recent cohort of Christianson Grant recipients!  Beatriz, Helen, Luke, and William -- inspirational young Americans out to make a difference -- are volunteering abroad in the fields of public health, education, and the environment. The InterExchange Foundation awarded these grantees a total of $20,000 to pursue their service projects abroad. Find out more about their projects and the impact they're making: Clubfoot to Climate Change: These Christianson Grantees...

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22 Jun
Member News

The weekly Vulcan View for the 17th to the 22nd of June featuring analysis of the latest EU developments

VULCAN VIEWKEY EVENTS THIS WEEK: GREECE ‘Historic’ deal reached to end Greece's eight-year bailout programme Eurozone finance ministers met in Luxembourg last night to approve a historic debt-relief package for Greece which will allow it to exit its third bailout scheme next August and bring to a conclusion the eight-year bailout programme. After six hours of last-minute talks, ministers from the Eurogroup thrashed out the final points of the package that will involve a 10-year debt maturity and debt repayment extensions on some...

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21 Jun
Member News

Potential Antitrust Issues Lurking in Blockchain Technology

By Howard Ullman | Orrick  Blockchain technology has burst onto the scene and into the public consciousness over the last few years. While the securities and privacy law questions surrounding blockchain technology have received much attention, perhaps less obvious are the potential antitrust issues raised by the technology. Although these issues are nascent, they are not wholly theoretical. For example, on March 16 the FTC announced that it is creating a Blockchain Working Group to look at, inter alia, competition policy. “Cryptocurrency and blockchain...

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21 Jun
Chapter News

EU and New Zealand launch trade negotiations

Today, in the capital of New Zealand, Wellington, Commissioner for Trade Cecilia Malmström and New Zealand's Minister for Trade David Parker officially launched talks for a comprehensive and ambitious trade agreement. The negotiations will aim at removing barriers to trade in goods and services, as well as developing trade rules to make trade easier and more sustainable. Today's announcement follows on the footsteps of the launch of negotiations with Australia earlier this week. It also comes soon after the conclusion of...

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20 Jun
Member News

Tax Flash: Implementation of EU Anti-Tax Avoidance Directive and Ratification of Multilateral Instrument in Luxembourg

By Loyens and Loeff The bill of law to implement the provisions of the EU Directive 2016/1164 on anti-tax avoidance (ATAD) in Luxembourg law was made available on 20 June 2018. Subject to parliamentary approval, Luxembourg will introduce controlled foreign corporation (CFC), interest deduction limitation and anti-hybrid rules. It will also modify its existing general anti-abuse rule and, exit tax provisions. Additionally, Luxembourg will change its interpretation of the permanent establishment concept to avoid mismatches and will abrogate the existing roll-over...

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