In late 2020, the OECD released guidance on the transfer pricing implications caused the pandemic. The advice came at an opportune time, providing much needed clarification for taxpayers as they sought to evaluate the application of transfer pricing rules during the pandemic and avoid triggering risks that could lead to audits and adjustments. This article explores the key points featured within the guidance, categorising them under four specific areas. Comparability analysis The OECD recognises that due to the significant impact of...

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Lisbon has been voted as one of the 21 places of the future worldwide, standing out thanks to the quality of universities, infrastructures and security. According to a study by the American company Cognizant: “Lisbon was chosen from more than 150 cities around the world, as one of the 21 places of the future”, positioning itself as one of the three European cities that make up the final list.The evaluation concluded that Lisbon is a “sophisticated city”, which stands out for...

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Economic Calendar April 6 - Reserve Bank of Australia meeting April 7 - Reserve Bank of India meeting April 13 - Reserve Bank of New Zealand meeting, US March CPI April 15 - Turkey Central Bank meeting, China’s Q1 GDP April 21 - Bank of Canada meeting April 22 - ECB meeting April 23 - Russia central bank meeting April 27 - Bank of Japan meeting April 28 - Federal Reserve meeting April 29 - US Q1 GDP Four major forces shaped the investment climate in the first quarter: the...

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The European Commission (“Commission”) is expanding its jurisdiction over transactions by encouraging national competition authorities (“NCAs”) of the EU Member States to ‘refer’ certain transactions to it that fall below the thresholds for mandatory notification at the EU and the national level. On 26 March 2021, the Commission published guidance (“Guidance”) setting out referrals that are ‘encouraged’ and how and when it will accept such referrals. This development has not required legislative changes (which would have taken some time...

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From 10 March 2021, credit institutions and investments firms providing portfolio management services or investment advice, terms defined by MIFID II, must comply with Level 1 transparency obligations regarding the impact of ESG factors on their activities and products, as set out in the Disclosure Regulation (EU) 2019/2088 ("SFDR "). The insurance and pension sector is also affected, depending on activities and products offered. Level 2 obligations will become binding only in 2022. Additional legislative work at EU level is underway...

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Innovation has long ceased to be an option for companies. “Innovation” used to mean the difference between dictating trends in your sector or following the trail of your competition’s success, but today the term refers to a fundamental condition of existence for businesses in the volatile and demanding Digital Age. But why are we starting a blog post about process consulting by talking about innovation? Because good process management is directly linked to how you promote innovation in your company. Do you...

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The current Dutch tax classification rules for Dutch and foreign entities (such as partnerships) are quite unique and therefore deviate from international standards. In particular, this has caused ‘hybrid entity mismatches’ in an international context. For this reason, the Dutch government has (finally) proposed to overhaul these rules with certain legislative proposals. These proposals are open for consultation until 26 April 2021. The new rules, if enacted, should enter into force as per 1 January 2022. Current entity classification rules To...

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For the first time in the world, a new car fits tyres with sensors that can talk to a car as standard. This world premiere when it comes to original equipment is thanks to Pirelli’s Cyber Tyre system, made up of a sensor in each tyre that gathers vital data for safe driving, linked to software integrated into the car’s onboard computer. The car in question is the McLaren Artura complete with sensor-equipped tyres: a hybrid supercar packed with...

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