15 Jul
Member News

Vulcan Insight | The future of EU corporation tax is uncertain as ECJ rules in favour of Apple & Ireland

In a landmark ruling the General Court of the European Union has annulled the European Commission’s 2016 decision to order the Irish Government to recoup €13.1 billion in back taxes from Apple. In an unprecedented move at the time the European Commissioner for Competition, Margrethe Vestager, ordered the Irish Government to recoup the money from the US tech giant, over what it alleged were two special rulings made for Apple. The rulings allowed Apple to pay “substantially and artificially” lower...

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15 Jul
Member News

Tradewind | When PPP and Bank Loans Fall Short, Trade Finance Provides Flexibility and Fast Funding to Ease Economic Effects of Coronavirus

On Thursday, May 28th, Tradewind Finance, EACC-NY, Pepper Hamilton (now Troutman Pepper), and CLA Connect jointly conducted a webinar titled “How to Navigate the After Effects of the U.S. Stimulus Packages". The webinar included discussions on the Paycheck Protection Program and how it differs with offerings by the EU, as well as other available programs for funding to combat the economic effects and supply chain disruptions that have resulted from Covid-19. During the webinar, Tradewind’s William Avedon narrowed in on...

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15 Jul
COVID-19 News, Member News

Andersen | To Help Businesses Survive the COVID-19 Pandemic, States and Cities Are Offering New Incentives and Relief Programs

Several states and cities are offering loans, grants and other incentives to help businesses weather the harsh economic environment created by COVID-19. At the same time, states struggling to contain budget deficits, such as California, are moving to scale back an important business deduction and impose a limit on the amount of credits that may be claimed. The COVID-19 global pandemic has severely impacted the global economy. To help keep businesses afloat, many state governments have created programs that offer...

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15 Jul
Member News

RK&O | Compliance in Focus: Responding to Remote Interview Requests in White Collar and Regulatory Investigations

Without a nationwide resolution to the COVID-19 pandemic in immediate sight, remote interviews are likely to become an increasing part of government investigations in the near term.  Previously, remote testimony likely meant only that the investigators and interviewee were in separate locations; counsel had the opportunity to be together with the client for the testimony.  But under the current circumstances, remote testimony requires all parties—including a lawyer and her client—to participate from separate locations. Defense counsel will need to adapt her practice...

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15 Jul
Chapter News

Fair and Simple Taxation: EU Commission proposes new package of measures to contribute to Europe’s recovery and growth

The European Commission has today adopted an ambitious new Tax Package to ensure that EU tax policy supports Europe's economic recovery and long-term growth. The Package is built on the twin pillars of fairness and simplicity. Fair taxation remains a top priority for the European Commission, as a means of protecting public revenues, which will play an important role for the EU's economic recovery in the short-run and prosperity in the long-run. Today's Package seeks to boost tax fairness, by intensifying the...

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15 Jul
Chapter News

ECB’s July 2020 Euro Area Bank Lending Survey Results

Credit standards for loans to firms remain favourable, supported by fiscal and monetary measures Surge in firms’ demand for loans continues to reflect emergency liquidity needs Credit standards for loans to households tighten further Credit standards – i.e. banks’ internal guidelines or loan approval criteria – remained broadly unchanged for loans to enterprises (see Chart 1), while tightening further for loans to households for house purchase, consumer credit and other lending to households in the second quarter of 2020, according to the July 2020...

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14 Jul
Member News

Troutman Pepper | Revised Summary of CARES Act and FFCRA Tax Credit and Payroll Tax Relief

This is an update to our “Summary of CARES Act and FFCRA Tax Credit and Payroll Tax Relief” chart published on May 21, 2020, that summarizes the payroll and tax credit programs under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Families First Coronavirus Response Act (FFCRA). Subsequent to the publication, the President signed into law the Paycheck Protection Program Flexibility Act of 2020, and government agencies have continued issuing guidance on program eligibility and...

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14 Jul
Chapter News

EACCNY #COVID19 Impact Stories from Our Members – Global Commerce Education

Together with our members we are creating a Video series of first-hand accounts of the Pandemic’s impact, both personally & professionally. We invite you to join us today for a first-hand look at the impact of the global shutdown following the Coronavirus (COVID-19) outbreak – Today we are featuring Sophie Lechner, Founder & CEO of Global Commerce Education a Member of the EACCNY. The questions we asked our members for this series are: 1) What are some challenges you, personally and...

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14 Jul
Member News

MHC | Platform to Business Regulation Comes into Effect – But What Does it Mean for eCommerce?

The Platform to Business Regulation (2019/1150) (‘P2B Regulation’) addresses the perceived imbalance between online platform providers and traders, as well as between online search engines and corporate websites by promoting fairness and transparency for business users. This new regulation came into effect on 12 July 2020. Platform providers and search engines must now comply with the new P2B Regulation obligations, and traders should check out how the Regulation will benefit them in their dealings with platforms and search engines. Which...

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14 Jul
Chapter News, COVID-19 News

Coronavirus Response: EU Commission welcomes ‘Best Practices’ to provide relief for consumers and businesses

The European Commission has welcomed a list of ‘best practices' agreed by the financial sector, and consumer and business organisations, to help further mitigate the impact of the coronavirus pandemic. It sets out concretely how different market participants can support citizens and businesses throughout the crisis. Today's ‘best practices' cover several issues, including: Payment moratoria for consumer and business loans, and for insurance contributions: these measures can help those facing financial difficulties by deferring payments; Enabling safer cashless payments while ensuring cash...

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