On 5 October 2015, the OECD issued final reports for the 15 BEPS (Base Erosion and Profit Shifting) actions that are fundamentally changing the course of corporate international taxation. Businesses with international operations must address these challenges head-on and act quickly to ensure they are not caught out by new rules coming into effect from 2017. To help businesses, BDO has developed a range of innovative tools to help clients through every step of the new corporate international tax landscape. In our...

Read more

Bank share prices rose for the week as a second round of bank earnings reports lifted investors’ spirits. Bank of America is among the banks that boosted attitudes, with non-interest income bolstering total revenues. Shares of regional banks led the way, rising 4.1% for the week. Share prices of the largest banks also increased, gaining 2.1% for the week. The gains came as the broader market rose by a more modest 0.4% and surprisingly, bond yields fell slightly as the yield...

Read more

On October 13, 2016, the Commodity Futures Trading Commission (the “CFTC”) approved an Order delaying for one year the reduction of the threshold for determining whether an entity constitutes a “swap dealer” for purposes of the U.S. Commodity Exchange Act.  Currently, persons are not considered to be swap dealers unless their swap dealing activity in aggregate gross notional amount measured over the prior 12-month period exceeds a de minimis threshold of $8 billion.  This threshold had been scheduled to...

Read more

A&L Goodbody has become the first Irish law firm to be awarded the Business Working Responsibly certification (The Mark) for responsible and sustainable business practices, such as its approach to supporting the community, energy and environment management, workplace policies and its relationships with clients and suppliers. The Mark, which was awarded by An Tánaiste at a CEO Breakfast Forum in Dublin Castle, recognised the Firm's approach to Corporate Responsibility centering on A&L Goodbody's leadership, policies, practices, performance and impact. The...

Read more

The European Securities and Markets Authority (ESMA) has issued guidelines on Alternative Performance Measures (APMs) for issuers whose securities are listed on a regulated market in the European Economic Area. The guidelines set out a common approach towards the use of APMs, and aims to promote the usefulness and transparency of APMs included in prospectuses, financial reports and market disclosures, which qualify as regulated information. The guidelines apply to APMs disclosed in regulated information on or after 3 July...

Read more

On October 14, New Jersey Governor Chris Christie signed into law important new tax legislation. The new law increases the gas tax in New Jersey by 23 cents per gallon. While the gas tax hike aims to increase the revenue paid to the state, the law also includes provisions that are designed to reduce taxes for New Jersey residents. Those who live in New Jersey are likely aware that the state is currently one of only two states  that still...

Read more

Houlihan Lokey's Consumer, Food & Retail Group is pleased to announce that David Michael & Co., Inc. has been acquired by International Flavors & Fragrances Inc. (NYSE: IFF). Financial terms of the transaction were not disclosed. The transaction closed on October 7, 2016. Founded in 1896 and headquartered in Philadelphia, Pa., David Michael is a leading developer and manufacturer of customized flavor solutions. David Michael maintains deep relationships with widely recognized and innovative food and beverage companies in North America and...

Read more

The EACC in partnership with the International Property Tax Institute (IPTI) wants to keep our members up to date with the latest developments in property taxes both in the USA and Europe. IPTI has put together a selection of reports from articles contained in IPTI Xtracts. The reports cover France, Germany, Greece, Portugal, Ukraine, the United Kingdom, and the United States with a focus on New York. France: Don't miss your upcoming tax deadlines in France The deadline for paying your income...

Read more

Sports equipment chain Golfsmith International has shared the fate of many others in today’s retail landscape: a bankruptcy filing and a list of closings. In what Time Magazine has dubbed the “age of Amazon,” some of the biggest names in retail have suffered from sinking sales and have shuttered a large number of stores in recent years. E-commerce giant Amazon has established their presence on every corner of the market, as it offers discounts and prompt shipping for a seemingly endless...

Read more

Portugal builds airplanes. Yes, planes. And automobiles as well. Portugal builds construction works which leave a mark. Bridges, highways, ports airports, sports stadiums, schools, hospitals and palaces. The Portuguese ability to build masterpieces is present worldwide. Surprised? Our history is made of discoveries, entrepreneurship, creativity and permanent innovation. We are a modern and sophisticated country that will surprise you. Our country develops medicine: Zebinix in the treatment of epilepsy, Opicapone in the treatment of the Parkinson disease. Two medicines developed...

Read more