Member News

Luxembourg 2017 budget presented: main tax-related provisions

On 12 October 2016, the Luxembourg Finance Minister presented the budget law for 2017 to the Parliament (Chambre des Députés). The main tax-related provisions of the Bill of Law N° 7050 (the “Bill”) may be summarised as follows: Luxembourg’s transfer pricing legislation has to date been limited to a general provision enacted under article 56 of the Luxembourg Income Tax Law (“ITL”) which (following article 9.1. of the OECD Model Tax Convention) basically states that if associated enterprises deal with...

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Chapter News

President Tusk and the European Committee of the Regions join forces to restore trust and build a Europe closer to citizens

The President of the European Council, Donald Tusk, has said that he is counting on regions and cities to help the European Union listen to and address citizens' real concerns. His comment came in a meeting on 11 October with political leaders of the European Committee of the Regions. The meeting between President Tusk, and the leaders of the CoR – its President and First Vice-President and the presidents of the CoR's five political groups – came a week before...

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Chapter News

European Citizen’s Prize: celebrating people’s commitment to Europe

People and organisations from across Europe came to Parliament in Brussels on 12 October for the European Citizens’ Prize award ceremony that sought to highlight their contributions to Europe. Parliament Vice-President Sylvie Guillaume, who chairs the jury, said: “Europe is going through particularly hard times and it sometimes seems to be disintegrating before our eyes. Yet European citizens show us that Europe is alive and they put European values into practice every day." A total of 50 individuals and associations...

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Member News

Will This Big Law Firm’s ‘Innovation’ Strategy Have Legs?

It’s a word that gets thrown around a lot: innovation. In the legal industry, its use is often followed by a fair degree of skepticism. As Matthew Fawcett, general counsel of NetApp, told me last week: “I can’t see anything interesting developmentally that’s happening out there.” With sarcasm, he recalled how more than 15 years ago law firms launched Y2K practices in hopes to land business, noting that he didn’t necessarily blame them for trying. “I feel that world is almost remote...

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Chapter News, Trade & TTIP Related

Opening Remarks by U.S. and EU Chief Negotiators for the Transatlantic Trade and Investment Partnership (T-TIP) Round 15 Press Conference

Chief Negotiator for the United States Dan Mullaney: We were very pleased to host our EU colleagues for the 15th Round of T-TIP negotiations here in New York City, which, as the location of some of the world’s busiest air and seaports, is a living testament to the importance of trade, especially across the Atlantic. We have heard some skeptical voices about T-TIP lately, but I want to emphasize that the United States remains fully engaged in these negotiations and...

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Chapter News

European Agenda on Security: First report on progress towards an effective and sustainable Security Union

Today the European Commission is presenting the first in a series of monthly reports on progress made towards an effective and sustainable Security Union. The report outlines the Commission's efforts in the fight against terrorism, organised crime and cybercrime and the work undertaken to strengthen the EU's resilience against these threats. It also highlights the priority areas where more work is needed and sets out concrete operational measures for the months to come. Commissioner for Migration, Home Affairs and Citizenship, Dimitris...

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Chapter News

Cities and regions welcome modernisation and simplification of VAT rules

Fraud, fragmentation and the complexity of the VAT system are a major challenge especially for border regions and small and medium-sized enterprises (SMEs). Therefore the members of the European Committee of the Regions (CoR) broadly support the European Commission's move to modernise VAT in the EU through an opinion prepared by Dainis Turlais (LV/ALDE) and adopted during the October plenary. The action plan on VAT was published by the European Commission in April 2016 and is the first step towards a...

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Chapter News

New Knowledge Centre for Territorial Policies: Smart scientific support for EU regions and cities

Scientific support in Europe's regions and cities will finally come to fruition thanks to the new Knowledge Centre for Territorial Policies, said Markku Markkula, President of the European Committee of the Regions (CoR), at the Annual Conference of the European Commission's Joint Research Centre on 11 October. He warmly welcomed the initiative, which provides scientific support to EU regions and cities, based on their specific needs, diversity and growth potential. Opening the Annual Conference of the Joint Research Centre (JRC),...

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Member News

How to Avoid Director Pay Litigation

In the last few years, Delaware courts have issued several rulings in lawsuits involving complaints of excessive compensation to non-employee directors . The takeaways from these cases can be summarized as follows: Decisions by directors about their own compensation will be reviewed by Delaware courts as a self-dealing transaction under the entire fairness standard, but such decisions can gain the protection of the business judgment rule if such decisions are made pursuant to a director pay limit or proposal that is...

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Member News

Customer Relationship and the digital media era

Barriers have fallen: empowered by social media, consumers are becoming the new “bosses” of corporations and a powerful source of feedback. Thus companies must learn to effectively engage them, to reward them and to positively respond to online criticism, says customer relationship management guru Paul Greenberg. He is the author of 'CRM at the Speed of Light – Essential Customer Strategies for the 21st Century', the first major customer relationship management manual of the 2.0 age, when the relationship between...

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