Earnouts are often presented as a solution that can help get a deal across the finish line. If a buyer and seller disagree on valuation, an earnout can help bridge that gap by tying a portion of the purchase price to the future performance of the company post-closing. It’s a simple concept in theory. If the company performs as expected, the seller will receive additional payments. If the company does not meet the established metrics, the buyer pays less. However, in practice, earnouts can introduce a...

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Following the publication of the “Digital Omnibus” on 19 November 2025, the political promise of easing regulatory burdens and moving towards simplification was initially welcomed by the market. However, nearly a year on, the effects have yet to be felt by stakeholders, and may be further contained now that both the European Parliament and the Council have taken positions on the text. In an urgent drive to relaunch the European economy, ease the regulatory burden on businesses, and compete with...

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Key Tax and Business Information for 160 Countries in One Comprehensive Resource We are pleased to offer you complimentary access to our Worldwide Tax Guide 2026/27, providing you with key information about the tax regimes in 160 countries around the world. Over 270 local tax specialists from PKF member firms across the globe have contributed their knowledge and insight to this guide. Designed for clients who already conduct business globally or are now looking to expand, the guide gives you a first...

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The deadline for European Union member states to implement new pay transparency rules was June 7, 2026, but not all of them have completed the process yet. Quick Hits To date, only five countries in the EU have fully implemented the rules outlined in the EU’s pay transparency directive. The remaining EU countries are working toward implementing the directive, but have not done so yet, although the deadline for implementation has passed. The deadline for member states to transpose EU Pay Transparency...

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Spain continues to attract people from around the world, whether they are relocating for work, retirement, study, entrepreneurship, or family reunification. According to Spain’s National Statistics Institute (INE), the number of foreign nationals increased by 94,182 during the first quarter of 2026, bringing the total foreign population to 7.35 million residents. As immigration pathways evolve and application volumes remain high, one requirement has remained constant: the need for accurate, officially recognized document translations. One of the most significant trends we are...

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The Tecfidera case and provisional pharma reform agreement put regulatory exclusivity and patent protection in focus At a glance The EU General Court annulled a Commission decision granting Biogen extra market protection for Tecfidera, confirming that regulatory deadlines allow for no discretion. The decision echoes the "Pharma Package" reform reshaping the regulatory exclusivity framework and broadening the Bolar exemptions. Three years on, the UPC leads on life science preliminary injunction disputes, with evolving case law on "imminent infringement". The European lifecycle...

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Artificial intelligence (AI) is everywhere these days – and not just in equity markets. The fiscal consequences of AI are a completely neglected dimension so far. Artificial intelligence (AI) is everywhere these days – and not just in equity markets. Most recently, an OpenAI application caused a stir by hacking its way into another company’s system on its own. The lack of control raises uncomfortable questions and inevitably calls to mind HAL 9000, the computer in Stanley Kubrick’s film “2001: A...

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