Member News | European American Chamber of Commerce New York [EACCNY] | Your Partner for Transatlantic Business Resources

16 Jul

New Treasury Regulations Revise Taxation of U.S. Persons Owning Foreign Corporations

Posted by EACCNY
July 16, 2019

By Alan Winston Granwell, William M. Sharp, Robert G. Lorndale, Christopher Fiore Marotta | Holland & Knight In an unanticipated development, the U.S. Department of the Treasury (Treasury) and Internal Revenue Service (IRS) recently issued regulations (New Guidance) that significantly modifies the taxation of U.S. persons owning stock of foreign corporations through domestic partnerships. The New Guidance will impact planning and 2018 compliance/reporting decisions. For domestic partnerships and limited liability companies (LLCs) with minority U.S. partners, including private equity...

16 Jul

Member News

Tradewind Announces $2.5 Million Credit Facility for Sustainable Homewares Company based in China and the USA

Posted by EACCNY
July 16, 2019

Tradewind has closed a $2.5 million trade finance facility for a company based in China and the USA that sells sustainable, ecologically sourced and manufactured homewares. The company exports to major retailers in the US including Amazon, Target, Kroger, and the Container Store as well as to distributors in key international markets globally. It is using the accelerated cash flow for working capital to increase production volumes, expand into new distribution channels, and initiate diversified brand marketing. Selling to Tier...

12 Jul

Vulcan News – Insights on Brexit and the latest EU Developments – 8 July – 12 July 2019

Posted by EACCNY
July 12, 2019

Vulcan Insight - Analysis of the latest EU Developments - 8 July - 12 July 2019 Key Events This Week Von der Leyen charm offensive begins in earnest European Commission President nominee Ursula von der Leyen continued her charm offensive in Brussels this week. The German nominee must impress the European Parliament Political Groups to make her way to the 13th floor of the Berlaymont. MEPs posed questions related to Brexit, climate change, rule of law and the institutional structures of the EU during the...

12 Jul

Member News, News

Dutch implementation of the EU Directive on Tax Dispute Resolution

Posted by EACCNY
July 12, 2019

On 9 July 2019, the Senate approved the bill on tax arbitration which implements the EU Directive on tax dispute resolution mechanisms in the European Union ("EU Directive on Tax Dispute Resolution") into Dutch national legislation. The bill will be published in the Dutch Gazette as soon as possible, after which the law will take effect as from the following day. The bill results in the new Dutch Tax Arbitration Act ("TAA"). The TAA contains the procedural rules concerning (EU-)...

11 Jul

Member News, News

Tradewind Renews Partnership with Leading Denim Organization

Posted by EACCNY
July 11, 2019

Tradewind is pleased to renew its partnership with Denim City, an Amsterdam-based innovation center that advocates for sustainability and unity in the denim industry. The organization, composed of several subdivisions and driven by a mission to raise awareness of cleaner, smarter denim practices, boasts a workshop for sample making, an R&D lab for testing, an academy offering training courses, and an archive showcase of over 500 iconic jean garments. Denim City is founded on a groundwork of collaborators from the...

11 Jul

Member News, News

Shareholders rights: new developments

Posted by EACCNY
July 11, 2019

Increased shareholder rights equals additional obligations for asset managers and intermediaries. On 10 July 2019, the Luxembourg parliament adopted the final text of the bill of law (the “New Law”) implementing into Luxembourg domestic law the provisions of Directive (EU) 2017/828 amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement (the “SRD II”) and amending the Luxembourg law of 24 May 2011 on the exercise of certain rights of shareholders in listed companies (the “Shareholders Rights Law”). Whereas...

10 Jul

Member News, News

Taking security over assets in Europe: Some practical considerations

Posted by EACCNY
July 10, 2019

With corporations having increasingly extensive global footprints, a US-based investor, bank or alternative lender looking to reduce or manage risk by taking security over a company’s assets located outside of the US may find themselves unexpectedly navigating different legal systems and processes. In this article we look at some of the practical considerations and formalities for US lenders to be aware, with a focus on some of the cost implications and formalities that apply in relation to England and...

08 Jul

Member News, News

After Three-Year Wait, Court Allows First Amendment Challenge to Copyright Law to Proceed

Posted by EACCNY
July 8, 2019

On July 21, 2016, WSGR partnered with the Electronic Frontier Foundation (EFF), a leading digital rights nonprofit, to file a lawsuit pro bono challenging the constitutionality of the anti-circumvention provisions of the Digital Millennium Copyright Act (DMCA): Green v. DOJ.1 Nearly three years later, on June 27, 2019, the District Court for the District of Columbia issued a decision allowing portions of the lawsuit to proceed, an important first step in a case that seeks to help security researchers,...

08 Jul

Member News, News

Tax Alert Legislative proposal on Dutch implementation of ATAD 2 (anti-hybrid rules)

Posted by EACCNY
July 8, 2019

On 2 July 2019, the Dutch State Secretary of Finance has published a legislative proposal to implement the EU Anti-Tax Avoidance Directive 2 ("ATAD 2") into Dutch domestic legislation (the "Bill"). ATAD 2 provides for minimum standards to neutralize hybrid mismatches and was adopted on 29 May 2017 (see also our Tax Alert of 1 March 2017). ATAD 2 should be implemented by all EU member states into domestic law no later than 31 December 2019 (thus becoming effective as...

08 Jul

Member News, News

The technology imperative: Shifting to disruption speed

Posted by EACCNY
July 8, 2019

Is the Corporate Services industry ready for digital disruption? Our latest Vistra 2020 study suggests not. In Vistra's research, almost eight in 10 (78%) respondents indicated that disruption would be a largely positive development for their business, while one in three thought it would only have a minimal impact on the industry. When we asked which technologies they were experimenting with, one of the top responses was “none of the above”. Some might argue that Polaroid, Blockbuster and Kodak were also...

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