By Mathieu Aimlon,  Principal | AIMLON CPA P.C.   Abstract: If you are a citizen of the United States of America or a citizen of another country but a U.S. resident for tax purposes and you prepare and file U.S. individual income tax returns, you are generally allowed, under the Internal Revenue Code Section 901, to claim a foreign tax credit for income taxes that you paid or accrued during the taxable year to any foreign country. The trouble is that sometime...

Read more

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 a selection of brief reports from articles contained in IPTI Xtracts which can be found on its website (www.ipti.org).   USA California: County Assessors Are Wary of Proposed Prop. 13 Overhaul Thousands of property appraisers who work for county assessors across the state are about to retire. That...

Read more

The EU has introduced a new Work-life Balance Directive. The Directive aims to improve access to family leave and flexible work arrangements in all EU Member States. Specifically, the new legislation intends to accomplish the following: Support better work-life balance for parents and carers Encourage a more equal sharing of parental leave between men and women Address women’s underrepresentation in the labour market Measures under the Directive include: Paternity leave According to the Directive, new fathers are entitled to ten days’ of...

Read more

EIB President Werner Hoyer addressed the Economic and Financial Affairs Council (ECOFIN), composed of the economics and finance ministers from all member states, following the conclusions of the Wise Persons Group assessment on current European financial architecture for development. President Hoyer explained the key role that the EIB can play to address global challenges and strengthen Europe’s development finance efficiency. He acknowledged the call from the Wise Persons Group to better organise and streamline EU development financing. As a response to...

Read more

Scrolling through your social media feeds, you likely noticed the surge of friends and public figures sharing posts of their future selves using the widely popular FaceApp. However, like most things, the devil is in the details. It’s only after combing through the Russian-affiliated application that cybersecurity experts began to question its user data privacy and practices—raising larger questions about user security regarding social media applications. We sat with CyZen’s Will Mendez about the mounting concerns about user data privacy...

Read more

On October 3, 2019, the Italian Government enacted a Legislative Decree (“Law”) aimed at implementing the EU Directive 2018/843 regarding anti-money laundering matters in EU state members. While the content of the Law is still unknown, the Law should introduce the following changes to the current Italian anti-money laundering framework. In particular, in accordance to the press release published on the website of the Italian Government, the Law aims at:  defining some categories of entities covered by the Law, including...

Read more