On 20 June 2016, Ecofin reached political agreement on the Anti Tax Avoidance Directive (“ATAD”). The rules included in the ATAD will have an impact on the corporate income tax position of companies operating in the European Union (“EU”), including the Netherlands. Unlike the earlier drafts of the ATAD, the final draft ATAD dated 17 June 2016 no longer includes the switch-over clause. The switch-over clause could have adversely affected the Dutch participation exemption regime.The ATAD is aimed at...

Read more

Houlihan Lokey is pleased to announce that Iovate Health Sciences International, Inc. has agreed to be acquired by Xiwang Foodstuffs Co., Ltd. The transaction was signed on June 12, 2016. Founded in 1995 and based in Oakville, Canada, Iovate is a dynamic, leading-edge nutritional company that delivers some of the highest quality, most innovative, and effective active nutrition products in the world. With brand innovations like MuscleTech, Six Star Pro Nutrition, Purely Inspired, and Hydroxycut, the company is committed to being the...

Read more

In the early morning hours of June 12, 2016, 49 innocent people lost their lives in a mass shooting in the Pulse nightclub in Orlando, Florida. This mass shooting, the deadliest in U.S. history, has left the City of Orlando shaken, particularly members of the lesbian, gay, bisexual, transgender, and queer (LGBTQ), and Latino/a communities. This Insight aims to provide a guide to employers on ways they can support their employees whose lives were touched by this tragedy.  Its basic...

Read more

Many companies seek Prestige Capital’s services during times of change in their company…as a bridge to various types of financing. With no monthly minimums, and contracts that can be as short as 3 months in certain circumstances, Prestige is poised to assist a client with immediate liquidity when needed. When the client accomplishes their intended goal, they can “graduate” from our program. GRADUATES…STEP UP FOR YOUR DIPLOMAS! After 13 months a Pickle Company is graduating to a strategic partnership with one...

Read more

According to The Real Deal, Big Four accounting firm Ernst & Young is considering various locations in lower Manhattan and New Jersey to replace its current location at Five Times Square in Manhattan. The firm occupies nearly one million square feet with a lease that is to end in mid-2022. The 1.1 million square-foot office backs the $1.072 billion Five Times Square loan. Half of the loan is part of the collateral pool for WBCMT 2007-C31. The $536 million slice makes...

Read more

Louisiana is giving away an average of $1.6 billion annually in tax breaks to large manufacturers with little oversight and little return, according to a new study released Monday. Together Louisiana, a statewide association of clergy and public interest groups that favors higher taxes on big corporations and the wealthy, reports Louisiana has the most generous industrial tax exemption in the country, allowing companies to avoid paying their property taxes to local schools, sheriffs and fire departments for 10...

Read more

Changes to ISF Enforcement On June 17, 2016, Customs announced that for shipments that are on the water on or before June 30, 2016, CBP ports will no longer be required to send requests for liquidated damages claims to Headquarters for review, and the “three-strikes” approach to liquidated damages claims against importers’ bonds will also end.  There is no change to cargo holds for ISF non-compliance.  Ports have the authority to both hold cargo and initiate liquidated damages claims. We would...

Read more

Jeroen Bakhuizen, Regional Head of International Subsidiary Banking, Europe shares his views on investment trends and how HSBC can support companies’ growth plans in the region. Businesses today are operating in a relatively uncertain global environment with slowing growth the norm for a lot of countries and even markets like China not achieving the amazing growth levels we became accustomed to. Yet, despite the global growth slowdown, foreign direct investment into Europe hit a new record high in 2014, with US$305bn...

Read more

On June 16, 2016, new Rules issued by the New York City Department of Finance (the Department) regarding the correction of errors concerning the assessment of real property taxes go into effect. Title 19 of the Rules of the City of New York was amended to add a new Chapter 53 authorizing the Commissioner of the Department of Finance to correct certain errors in any assessment or tax and to provide a procedure to apply for the correction. The statutory basis for...

Read more

Pak Rat Mini Storage owner B.F. "Dutch" van Rijn was running out of units to rent at his North Bonneville, Washington, facility. He bought an adjacent parcel of land and was considering building more permanent units. Dutch analyzed his options, however, and decided to purchase BOS Quick Build containers from BOS Container USA, award-winning producer of portable steel storage containers. “I was impressed by the quality of the units,” says Dutch, who had done his due diligence by travelling to...

Read more