The EACC in New York is pleased to share the following fintech news on Lithuania. Europe’s first international Blockchain Centre launched its operations in Vilnius – the capital of Lithuania.  The launch attracted entrepreneurs, investors, key decision-makers and experts from around the world.  It is the first facility of its kind on the continent.  The global network of Blockchain Centres includes Melbourne, Shanghai, and now, Vilnius.  It is a not-for-profit knowledge-hub, co-working space and incubator for blockchain technology companies. The official...

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The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep members up to date with the latest developments in property taxes both 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). As far as Europe is concerned, this month’s report includes articles on Greece, Ireland, England, Scotland and Wales. There is a separate IPTI report on the United...

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CMS - CMS just released a comprehensive overview of the upcoming changes to the EU General Data Protection Regulation, which will be applicable as of 25 May 2018. As of that date breaches of European data protection rules will carry fines of up to EUR 20 million or 4% of the annual group turnover, whichever is higher. This is reason enough to take a closer look at the subject as soon as possible. Read the report here. Compliments of CMS - a...

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Wilson Sonsini Goodrich & Rosati -   Wilson Sonsini Goodrich & Rosati is pleased to present the latest edition of The Entrepreneurs Report. In this issue, the firm compiled a range of data on venture financing transactions in which it was involved in 2017, with the objective of identifying relevant trends in activity and valuation levels for the U.S. venture capital industry in general. The firm also provides data on bridge loans. Read the report here.   Wilson Sonsini Goodrich & Rosati's position as...

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Stephenson Harwood - As anyone who is active in the blockchain space is very well aware, 2017 saw an enormous increase in the number of "Initial Coin Offerings" (ICOs) that have been arranged. Over US$5.68 billion was said to have been raised in 2017, with over 1.4 billion in December 2017 alone, for example. The key advantages of ICOs for fund raisings have been: speed; lack of bureaucratic "red tape"; interest generated by offerings; and/or low cost of the process. In recent...

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Stibbe -  Tax Alert February 2018 In this Tax Alert Stibbe addresses the anxiously awaited ruling of the European Court of Justice ("ECJ") on the joined cases C-398/16 and C-399/16. This judgement deals with the question whether EU law obliges the Netherlands to let taxpayers cherry pick benefits from the fiscal unity regime. Stibbe also mentions the announcement of the Dutch Ministry of Finance to improve the rules for obtaining tax rulings in the Netherlands. Furthermore, the firm is proud to...

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Loyens and Loeff - On 14 February 2018, the European Systemic Risk Board (ESRB) published a Recommendation addressed to the European Securities and Markets Authority (ESMA) and the EU Commission on actions to address systemic risks related to liquidity mismatches and the use of leverage in investment funds. It focuses on the following five areas: Additional liquidity management tools for redemption; Additional provisions to reduce the likelihood of excessive liquidity mismatches; Stress testing for individual AIFs and UCITS; Harmonised UCITS reporting;...

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Ernst & Young - Many governments around the world are introducing reforms to make sure their indirect tax systems are fit for the internet age. Over recent decades, indirect taxation has become increasingly appealing to governments. The “tax of the moment” keeps evolving to keep pace with technological innovation, global tax reform, shifting trade patterns and policies, and new governmental priorities for health and the environment. Businesses need to pay attention — this tax has staying power. Going global — general consumption...

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Ernst & Young -  How and why is technology changing the way we work? As the world adjusts to the digital age, workers will increasingly be freed up from repetitive tasks and can explore the attributes that make us human. These human attributes, including lateral thinking, creativity, decision-making, innovation, intuition and empathy, will become more important as the balance of machines and humans in the workplace shift. As this shift occurs, whereby machines take on more, we should also see the...

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Ogletree Deakins - Harold P. Coxson (Washington DC) On February 12, 2018, the White House released its fiscal year 2019 (FY 2019) budget plan and sent it to Capitol Hill just a week after signing a two-year budget deal lifting the spending caps for 2018 and reopening the federal government, which had been temporarily shut down. For that reason, the budget cuts in the FY 2019 proposal have little chance of enactment by Congress which is loath to give back money already...

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