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: NYC Advisory Commission on Property Tax Reform Releases Final Report Report recommends the most significant changes to New York City’s property tax system in 40 years The...

Read more

In this week’s Roar, we’ve got the latest on predictions for more ocean volatility, supply chains in the news for the wrong reason (again), the importance of empty containers, the year in review for U.K. shipping, and the state of air cargo. But first, we’re fearing our hopes of an improved supply chain in 2022 may have been dashed. While there’s one ray of light—thanks to shippers sourcing increased capacity, containers are moving in and out of China much faster—but,...

Read more

Your startup may be eligible for a $100,000 tax credit that can be used to offset your payroll taxes. The Employee Retention Tax Credit (ERTC) program is ever-changing since creation of the credit under the Coronavirus Aid, Relief and Economic Security (CARES) Act in April 2020.  It has been extended and expanded, changing the ERTC program’s end date several times under the American Rescue Plan Act and the Consolidated Appropriations Act, 2021. With the signing of the Infrastructure Investment and Jobs...

Read more

The International Monetary Fund (IMF) raised concerns in a blog post on Tuesday of this week about the increased usage of cryptocurrencies beyond just a fringe group and the subsequent implications for financial stability. The IMF is particularly concerned about the connection between crypto assets and the financial markets, stating that virtual currencies pose a threat to financial stability, given their “volatile price movements, astronomic valuations, and coupling with mainstream investment markets”. It appears that at the start of the...

Read more

Being Prepared for a Winter Driving Emergency Are You Prepared for a Winter Driving Emergency? You may have plans to drive to Vermont for a ski weekend. The temperatures are way below freezing and there is snow in the forecast. You are all packed and ready to go. But are you ready if you get in a driving accident or your car breaks down on the way? Don’t forget to make your own winter car survival kit so you don't get stranded...

Read more

On the heels of Gov. Kathy Hochul’s State of the State address, in which she endorsed a suite of progressive environmental policies including product stewardship laws governing the paper and packaging industry, the New York Legislature has introduced a bill targeting environmental sustainability disclosures in the fashion and apparel industry. The Fashion Sustainability and Social Accountability Act (A.8352/S.7428) would require fashion retailers and manufacturers to disclose environmental and social due diligence policies and allows citizen lawsuits to enforce the...

Read more

CISA Director Jen Easterly on Log4j: “These vulnerabilities are the most severe that I’ve seen in my career.”1 On December 11, 2021, the Cybersecurity and Infrastructure Security Agency (CISA), in partnership with the FBI and NSA, announced a critical remote code execution vulnerability had been identified in the Apache Log4j software library. This vulnerability allowed a successful threat actor to take control of a network system and cause a variety of damage, including the ability to launch ransomware, steal and...

Read more

Investment in Europe: An unprecedented shock and a fast investment rebound backed by public intervention Support targeted the short-term liquidity needs created by the crisis, but not “zombie” firms that were already financially weak Policy support was a springboard for transformation — firms reactivated their investment plans, started to digitalise and are getting ready to invest in greentech However, the COVID-19 economic shock amplified existing geographical and social inequalities The COVID-19 shock demonstrated the power of policy....

Read more

On November 1, the President’s Working Group on Financial Markets (PWG), along with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, issued a “Report on Stablecoins” (Report) that provided background on stablecoins, identified regulatory gaps related to such digital assets, and offered recommendations for addressing those gaps. After outlining the risks and deficiencies in the current regulatory landscape as it relates to stablecoins, the Report recommended that Congress enact legislation requiring that stablecoins...

Read more

The holiday period that has just ended, which marked a record increase in the number of COVID-19 infections, was characterized by the adoption of emergency measures of significant impact on daily life and business activities. Law Decree no. 221 of December 24, 2021 (“LD 221/2021”) has further extended the state of emergency until March 31, 2022. Such an extension has entailed, for private employers, among others, the extension of certain emergency measures, including the possibility of implementing the Smart Working...

Read more