14 Jul
Chapter News, COVID-19 News

State Aid: EU Commission recommends not granting financial support to companies with links to tax havens

The European Commission has today recommended that Member States do not grant financial support to companies with links to countries that are on the EU's list of non-cooperative tax jurisdictions. Restrictions should also apply to companies that have been convicted of serious financial crimes, including, among others, financial fraud, corruption, non-payment of tax and social security obligations. The aim of today's recommendation is to provide guidance to Member States on how to set conditions to financial support that prevent the...

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14 Jul
Member News

Grassi | Managing Your Trust & Estate Strategies During the COVID-19 Crisis

Q&A with Lisa Rispoli, Trust & Estate Services Leader As you respond to the immediate impact of the COVID-19 pandemic on your business and finances, your trust and estate plans may be the farthest thing from your mind. Lisa Rispoli, CPA, AEP, TEP, Grassi's Trust & Estate Services Leader, explains why this economic environment may actually be the best time for you to execute gifting strategies to achieve greater tax savings and preserve more wealth for your loved ones. Q. Is...

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14 Jul
Member News, Trade & TTIP Related

GDLSK | Additional 25% Section 301 Duties on French Handbags and Cosmetics in Retaliation for Digital Services Tax

On July 10, 2020, the Office of the United States Trade Representative (“USTR”) announced an additional 25% Section 301 duties on various handbag and cosmetic products from France effective January 6, 2021. These retaliatory duties will be imposed in response to France’s planned Digital Services Tax (“DST”), which the USTR determined is discriminatory and unreasonably burdens U.S. technology companies. Implementation of the additional duties will be delayed for 180 days to allow for further negotiations between the two countries that may resolve this...

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13 Jul
Chapter News

European Council President Charles Michel presents his proposal for the MFF and the recovery package

Statement by President Charles Michel | Brussels One week from today, the 27 Leaders will come together here in Brussels.  It will be our first physical meeting since the beginning of the crisis. As you know, last May, on the request of the European Council, the Commission presented a package that combines the MFF and the recovery instrument Next Generation EU. On June 19th, leaders had a first discussion on this proposal. These discussions revealed strong opposition to the package. As a...

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13 Jul
Chapter News

ESMA issues second report on sanctions under MiFID II

The European Securities and Markets Authority (ESMA), the EU’s securities markets’ regulator, has published today its second report on sanctions and measures imposed under the Markets in Financial Instruments Directive (MiFID II) by National Competent Authorities (NCAs). Overall, in 15 (out of 30) EEA Member States, NCAs imposed a total of 371 sanctions and measures in 2019 of an aggregated value of about €1.8 million. The Report provides an overview of the applicable legal framework and the sanctions and measures imposed by NCAs under...

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13 Jul
Member News

Littler | New York Agencies Issue Guidance on COVID-19 Sick Leave for Health Care Workers

On June 25, 2020, the New York Department of Health (NY DOH) and the New York Department of Labor (NY DOL) issued new guidance, titled New York State Department of Health and New York State Department of Labor Guidance on Use of COVID-19 Sick Leave for Health Care Employers (the “Guidance”). The Guidance is intended to supplement earlier guidance the NY DOH and NY DOL issued governing when health care employees are automatically deemed to be subject to a mandatory or precautionary order...

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13 Jul
Chapter News

Urgent action needed to stop jobs crisis becoming a social crisis

Watch the webcast of the press conference | The Covid-19 pandemic is turning into a jobs crisis far worse than the 2008 crisis. Women, young people and workers on low incomes are being hit hardest, according to a new OECD report and unemployment statistics released today. The OECD unemployment rate edged down to 8.4% in May 2020, after an unprecedented increase of 3.0 percentage points in April, to 8.5%, the highest unemployment rate in a decade. In February 2020, it was at...

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13 Jul
Member News

FTI Consulting | 4 Simple Steps to Determine Cybersecurity Gaps in the Work-From-Home Era

Millions of workers around the world have shifted from offices to working from home since the COVID-19 outbreak. Here, Joshua Burch, FTI’s Head of Cybersecurity in EMEA, offers timely advice for businesses to help mitigate the increased risk of a cyber breach that comes with that shift. The sudden surge in remote working, while a practical solution to the acute circumstances caused by the COVID-19 pandemic, is causing challenges for information security teams. The flood of employees logging in to...

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10 Jul
Chapter News

Statement from the OECD Secretary-General

10/07/2020 - OECD Secretary-General Angel Gurría announced today to the OECD Council that he will not be seeking an additional mandate to lead the Organisation. He has issued the following statement: “During the 14 years that I have been leading the OECD, I have strived to make it more visible, more relevant, more impactful, more efficient. All to better serve our Members, first and foremost, as well as our Partner countries. In the context of the worst pandemic since the ‘Spanish flu’...

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10 Jul
COVID-19 News, Member News

Portolano Cavallo | Decreto Rilancio: Overview of the main measures to support business and companies in Italy

The Italian government has approved Law Decree No. 34 of May 19, 2020 (“Decreto Rilancio”), which includes several measures aimed at providing additional support to businesses impacted by the COVID-19 emergency. Below is an overview of said measures. A. Reduction of IRAP (Regional Tax on Production Activities) Section 24 of the Decreto Rilancio sets forth an exemption for companies and self-employed workers with revenues not exceeding EUR250 million in the last financial year from payment of (1) the balance of IRAP for the current tax period until December...

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