28 Jun
Member News

Tradewind Closes Post Shipment Finance Facility for U.S. Subsidiary of German Sensor Manufacturer

Tradewind has provided a $1 million post shipment finance facility to a manufacturer of sensory technology headquartered in Germany. Tradewind funded the US subsidiary who is using the facility to alleviate financial pressure on the parent company so it can invest in R&D and boost production. The company sells to Europe, the US, and across East Asia. The manufacturer decided to pursue financing as it began to grow and cash flow became tight. Products are made in Europe, shipped abroad...

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27 Jun
Member News

European Union and Turkey Announce Tariffs on Certain U.S. Products

By TH International Trade In March 2018, President Trump announced that under Section 232 of the Trade Expansion Act of 1962, the United States would increase tariffs on imports of certain steel products by 25 percent and imports on certain aluminum products by 10 percent on countries worldwide, including imports from the members of the European Union (EU) and Turkey. Although the EU was initially exempted from the imposition of tariffs, these tariffs came into place pursuant to two Presidential Proclamationsissued on May 31, 2018....

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27 Jun
Member News

Jason Thacker, Senior Vice President, Head of Consumer Deposits and Payments at TD, has been named one of Canada’s Top 40 Under 40® for 2018.

By CHERRY HILL Thacker was selected from a pool of more than 800 nominees by an independent advisory board comprised of more than 20 business leaders across Canada, based on four criteria: Vision & Innovation; Leadership; Impact & Influence; and Social Responsibility. "It is an honor to represent TD as a recipient of Canada's Top 40 Under 40 for 2018," said Thacker. "I am proud to stand alongside such accomplished Canadian business leaders. I share this recognition with my fellow TD colleagues and am grateful to the...

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26 Jun
Chapter News

The Commission eliminated in 2017 the highest number ever of trade barriers faced by EU companies doing business abroad 

The Commission eliminated in 2017 the highest number ever of trade barriers faced by EU companies doing business abroad  The annual report on Trade and Investment Barriers, released today, shows that the European Commission has eliminated the highest number ever of trade barriers faced by EU companies doing business abroad. European exporters reported a major increase in protectionism in 2017. The report highlights that thanks to the EU's enhanced Market Access Strategy, 45 obstacles were lifted fully or in part in 2017...

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26 Jun
Member News

Recent Developments in EU and UK Procurement: Competition Requirements, Organizational Conflicts of Interest and Subcontracting Rules

By Louise Huson, Dr Sharon Fitzgerald | DLA Piper In the aftermath of the potential De la Rue challenge to the Home Office’s award of passport delivery services to Gemalto, we look at the EU Commission’s challenge to the Austrian State’s decision to award similar services directly to an Austrian national. As contracting authorities build capacity for “front-ending” projects, the potential for conflict of interest between consultants advising on early scoping issues and subsequently bidding in the project’s procurement has to be managed...

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26 Jun
Member News

Ready for real-time invoice data reporting in Hungary?

By Sandor Karai | Head of Accounting | TMF Hungary Time is running out for VAT-registered companies in Hungary to set up and test their systems ahead of the July deadline. From 1 July 2018, all VAT-registered companies in Hungary are required to report their sales invoice data to the local tax authority in real-time. The reporting will be carried out automatically, via the Hungarian tax authority’s online invoicing portal. Are your reporting systems compatible? What do you need to do to prepare...

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25 Jun
Member News

EU Prolongs Sectoral Sanctions targeting Crimea and Sevastopol

By John Forrest, Jeroen Jansen, Valerijus Ostrovskis , Daniel Jones, Matthias Vangenechten | DLA PIPER On 18 June 2018, the Council of the European Union (EU) adopted Council Decision (CFSP) 2018/880, extending the restrictive measures introduced by the EU in response to the annexation of Crimea and Sevastopol by the Russian Federation in 2014. The restrictive measures targeting Crimea and Sevastopol will remain in place until at least 23 June 2019. Council Decision (CFSP) 2018/880 extends the measures as established by Council Decision 2014/386/CFSP and in...

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25 Jun
Chapter News

European Innovation Scoreboard 2018: Europe must deepen its innovation edge

The Commission's 2018 European Innovation Scoreboard published today shows that the EU's innovation performance continues to improve, but further efforts are needed to ensure Europe's global competitiveness. Every year, the Commission publishes a comparative assessment of the innovation performance of Member States and benchmarks it with international competitors. The data helps Member States, and the EU as a whole, assess in which areas efforts need to be focused. Elżbieta Bieńkowska, Commissioner for Internal Market, Industry, Entrepreneurship and SMEs, said: "The 2018 Scoreboard shows...

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25 Jun
Member News

Stormy weather

By William Rhodes Don’t be fooled. The high levels of volatility in emerging markets and sharp, sporadic pressures on a range of currencies, including those of Argentina, Mexico and Turkey, which holds elections on Sunday, are the opening salvos in a new period of mounting risks and uncertainties. The tensions and challenges in developing economies that will come into ever-clearer focus in coming weeks and months are not being sufficiently recognized to provide assurances that crises will be handled well – or...

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22 Jun
Member News

Update on Property Tax Issues: June 2018

The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep members up to date with the latest developments in property taxes both in the USA and Europe. IPTI has put together a selection of brief reports from articles contained in IPTI Xtracts which can be found on its website (www.ipti.org). As far as Europe is concerned, this month’s report includes articles on Germany, Greece, Ireland, and the United Kingdom. There is a separate IPTI report on the...

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