On 12 October 2020, the OECD released for public consultation updated reports on its two-pillar proposal to address the tax challenges of the digitalisation of the economy. The Pillar One proposal focuses on new nexus and profit allocation rules for certain business models, whereas the Pillar Two proposal pursues more broadly a global minimum effective taxation. The reports identify key issues, both political and technical, where divergences remain to be solved. The goal is to reach consensus amongst the 137 participating jurisdictions by mid-2021....

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On 12 October 2020, the OECD released for public consultation updated reports on its two-pillar proposal to address the tax challenges of the digitalisation of the economy. The Pillar One proposal focuses on new nexus and profit allocation rules for certain business models, whereas the Pillar Two proposal pursues more broadly a global minimum effective taxation. The reports identify key issues, both political and technical, where divergences remain to be solved. The goal is to reach consensus amongst the 137 participating jurisdictions by mid-2021....

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Amid the Covid-19 pandemic, the European Investment Bank (EIB) makes lending more flexible and faster for cities and regions in order to meet urgent financing needs New financing support to regions and cities announced for health sector, infrastructure, urban regeneration, SMEs and climate action and more to come In response to the coronavirus pandemic, the EIB quickly deployed a support plan to support the European economy and help meet the most urgent financing needs of regions and municipalities. Recognizing...

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On Wednesday, the European Parliament voted to raise the EU’s CO2 emissions reduction targets from the original 40% to 60% by 2030, as part of a EU Climate Law package, a series of laws to help Europe achieve the climate targets set out in the 2016 Paris Climate Agreement – which aims to limit global warming to well below 2°C. Despite the opposition from conservative (EPP) and right-wing groups (ECR and ID), the Parliament successfully adopted its position, led by...

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Below includes an overview of MJV Technology & Innovation's "New Normal Under Construction" research. For more information, be sure to check out the following article published in Thrive Global that mentions more on the New Normal - it includes an interview with Mauricio Vianna, CEO of MJV Technology & Innovation: How Do I Grow My Business In The New Normal? MJV research brings four scenarios for the future of the pandemic These are times of uncertainty. So far, society has not...

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Who Needs to Know SBA employees and Paycheck Protection Program (PPP) lenders/borrowers on the “changes of ownership” procedures. Why It Matters On October 2, the Small Business Administration (SBA) issued a Procedural Notice to provide guidance to SBA employees and Paycheck Protection Program (PPP) lenders on the required “changes of ownership” procedures for an entity receiving a PPP loan (PPP borrower). This notice addresses the uncertainty and inconsistency in how PPP lenders view various equity raising, reorganization, and sale of business transactions...

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On October 1, 2020, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory to companies that pay a ransom in the wake of a cyberattack. Specifically, the advisory warned that ransomware attack victims and third-parties who assist these victims could be in violation of federal law if they pay or facilitate the payment of a ransom to a sanctioned individual or entity — intentionally or otherwise. In light of dramatic increases in both the...

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