By Loyens & Loeff On 20 December 2017, the Dutch government submitted the bill for ratification of the Multilateral Instrument (“MLI”) to parliament. The bill contains a summary of the various BEPS measures to be implemented by the MLI, without giving much guidance for interpretation. The positions taken on the MLI do not deviate from the provisional list of choices and reservations notified by the Netherlands to the OECD in June 2017. Background The Netherlands signed the MLI in June 2017. The...

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By Richard J. Silpe |Co-Chair, Tax| (215) 665-2704 | rsilpecozen.com | Cozen O'Connor On December 20, 2017, both houses of Congress passed H.R. 1, a comprehensive tax reform bill commonly known as the “Tax Cuts and Jobs Act,” (the Act) and was signed into law by President Trump on December 21, 2017. The Act makes major changes to federal income and estate tax law, including, among other things, numerous changes affecting businesses, individuals, tax-exempt organizations, the taxation of compensation arrangements, and fundamental aspects of...

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By Catherine Alvino | Marketing Coordinator | DS-Concept Factoring, Inc. DS-Concept closed a 250 million HUF credit facility for a Hungarian trading company that sells household appliances and kitchenware domestically to big multinational corporations. Under the arrangement, the company plans to use the provided liquidity to accommodate the 60-90-day payment terms of its buyers and reach its ten-figure annual turnover goal. The client sought out DS-Concept when a former business connection pointed them in their direction. As a new trading...

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By Wilson Sonsini Goodrich & Rosati Wilson Sonsini Goodrich & Rosati is pleased to present its 2017 Antitrust Year in Review, which examines the most important antitrust matters and developments from the past year. Among other topics, the report discusses how U.S. agencies have transitioned with the Trump administration, and describes new trends in U.S. and international merger enforcement and civil investigations, global cartel investigations, and complex civil antitrust litigation. The report includes highlights from technology, pharmaceutical, and other industries...

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By Ogletree Deakins Ogletree Deakins, one of the largest labor and employment law firms representing management, announced today that the firm has elevated 11 attorneys to the shareholder position. The newly-elected shareholders represent the full breadth of Ogletree Deakins’ practice and service offerings, including class action, data privacy, employee benefits and executive compensation, employment law, higher education, international employment law, litigation, traditional labor law, and wage and hour. Named by Law360 as one of “The 100 Best Law Firms For Female Attorneys,”...

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By Revinax The Revinax team has achieved a worldwide breakthrough by introducing mixed reality during live surgery. The surgical procedure was performed successfully on November 7th, 2017 under the guidance of Dr Lonjon, a neurosurgeon from the Montpellier University Hospital in France. During the procedure, the surgical team was equipped with HoloLens glasses which provided extra information throughout the surgery. The Revinax team has just added a worldwide first to their track record. They’ve combined their real-life virtual reality tools with the...

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By Sven Stumbauer | Managing Director |  New York | +1 (212) 845-4044 |  AlixPartners AlixPartners 2017 global anti-money laundering and sanctions compliance survey explores how financial institutions are managing their compliance programs amid growing risk and heightened regulatory expectations. At a glance Although we may assume boards stay engaged, 20% of respondents do not provide training to their board or are unaware whether the board is being briefed. Thirty-two percent consider their AML and sanctions compliance budget inadequate—or severely inadequate. ...

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By Loyens & Loeff On 20 December 2017, the Court of Justice of the European Union (CJEU) issued its judgment in joined cases Deister Holding AG (C-504/16) and Juhler Holding A/S (C-613/16) v Bundeszentralamt für Steuern. In this ground breaking judgment, the CJEU confirmed that the German anti-abuse provision for withholding tax relief for dividends paid by a German company to certain parent companies resident in another EU member state is too general. Therefore that provision is incompatible with the EU...

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By David M. Kaplan | Partner| 215.981.4620 | Pepper Hamilton The Tax Cuts and Jobs Act (TCJA) will make major changes to the $1 million limit on deductible compensation contained in Section 162(m) of the Internal Revenue Code. Section 162(m) limits the tax deduction available to public companies for compensation paid to top executives to $1 million per year, per executive. However, the law contains significant exemptions, including exemptions for compensation that is performance-based or paid after termination. These exemptions...

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