06 Aug
Chapter News

OECD updates transfer pricing country profiles to include new fields on financial transactions and permanent establishments

The OECD has published updated transfer pricing country profiles, reflecting the current transfer pricing legislation and practices of 20 jurisdictions. These updated profiles also contain new information on countries' legislation and practices regarding the transfer pricing treatment of financial transactions and the application of the Authorised OECD Approach (AOA) to attribute profits to permanent establishments. The transfer pricing country profiles focus on countries' domestic legislation regarding key transfer pricing aspects, including the arm's length principle, methods, comparability analysis, intangible property, intra-group services,...

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06 Aug
Member News

Vulcan Insight | Weather extremes highlight need for rapid action on “Fit for 55”

As record fires, floods and temperatures continue to hit countries across Europe, the recent adverse weather events highlight the urgent need for EU legislators to act on the European Commission’s recent “Fit for 55” climate and energy package.  Just as European Commission President Ursula von der Leyen, flanked by her climate czar, Frans Timmermans and other Commissioners, large swaths of Western Germany, Belgium and the Netherlands experienced the most devastating floods in recent memory killing dozens. Two weeks later, as...

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05 Aug
Member News

Stibbe | Are your distribution contracts ready for the revised VBER?

On 9 July 2021, the Commission published its draft revised Vertical Block Exemption Regulation (VBER) and the accompanying Vertical Guidelines. One of the key points of the revision was to make the VBER fit for the digital age and adapt the rules to the strong growth of e-commerce. The revised VBER is tough on agreements that can hamper online competition. Suppliers are not allowed to de facto restrict online sales or advertising. Price parity clauses will also partially lose their current ‘unproblematic’ status. The...

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05 Aug
Member News

Marks Paneth | Crypto and Digital Asset Reporting in Proposed Legislation

In the released draft of the Infrastructure Bipartisan Proposal on Monday, August 2, 2021, a last-minute digital asset tax reporting regime was added.1 This provision in the draft legislation, under Division H – Revenue Provisions, Title VI, Section 80603, may very well change in text over the next week and possibly sustain further changes as the legislation evolves, if it even passes. From the tax perspective, digital assets really have two dimensions: (1) reporting – meaning who must disclose what to...

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05 Aug
Chapter News

EIB supports Fagor Arrasate’s innovation and digitalisation strategy

The EU bank funds will help to increase the competitiveness of the Spanish company by boosting its investments from 2021 to 2024, focusing on digitalisation and the improvement of facilities. The EIB-financed project will enable Fagor Arrasate to develop machinery for the production of lighter, more environmentally friendly vehicles, as well as components for electric vehicles. The agreement is supported by the European Fund for Strategic Investments (EFSI). The European Investment Bank (EIB) and Fagor Arrasate (a cooperative and...

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04 Aug
Chapter News, COVID-19 News

Coronavirus: EU Commission approves new contract for a potential COVID-19 vaccine with Novavax

Today, the European Commission has approved its seventh Advanced Purchase Agreement (APA) with a pharmaceutical company to ensure access to a potential vaccine against COVID-19 in Q4 of 2021 and in 2022. Under this contract, Member States will be able to purchase up to 100 million doses of the Novavax vaccine, with an option for 100 million additional doses over the course of 2021, 2022, and 2023, once reviewed and approved by EMA as safe and effective. Member States will...

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04 Aug
Member News

Troutman Pepper | ‘More Privacy Please’ August Edition

Do you want a simple way to keep current on important privacy changes? Avoid sleepless nights wondering whether you missed a privacy speed bump or pothole between annual updates? Worry no longer. Troutman Pepper is pleased to offer More Privacy Please, a monthly newsletter recapping significant industry and legal developments, as well as trends in the areas of cybersecurity, information governance, and privacy. U.S. LAWS AND REGULATION Connecticut Passes Stronger Data Breach Notification and Cybersecurity. The Connecticut legislature recently enacted a...

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04 Aug
Member News

Noerr | EU Market Surveillance Regulation reshapes European product legislation – turning point for industry

As of 16 July 2021, market surveillance by authorities for non-food products will be fully harmonised in Europe. The new European Market Surveillance Regulation (EU) 2019/1020 (“MSR”) comprehensively regulates the procedure of Member State authorities for enforcing harmonised European product legislation for almost all non-food products in Europe. With the modern legislative instrument of the European regulation and broad scope covering more than 70 product-related harmonisation acts, the European legislator has eliminated previously existing national discretion in the structuring of market...

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04 Aug
Chapter News

Businesses: Phishing scheme targets unemployment benefits, PII

Have you or one of your employees received an alarming text message about unemployment insurance benefits from what seems to be your state workforce agency? You’re not alone. Identity thieves are targeting millions of people nationwide with scam phishing texts aimed at stealing personal information, unemployment benefits, or both. The phishing texts try to dupe the recipient to click a link to “make necessary corrections” to their unemployment insurance (UI) claim, “verify” their personal information, or “reactivate” their UI benefits account. The...

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03 Aug
Member News

Rand Insurance | 7 Top Risk Exposures When Entering the US Commercial Market

When creating the game plan to enter the US marketplace, governmental regulation, contractual compliance and managing risk need to be included in the strategic planning process.  The focus on regulation, compliance and risk primarily deals with mitigating exposure to lawsuits. The following are 7 top liability exposures when marketing and selling products and services to US and Canadian businesses and consumers. 1. General Liability The business owners package insurance policy is the cornerstone of most commercial insurance portfolios. It contains general...

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