05 Apr
Chapter News

European Commission invests over €7.5 million for sustainable growth and jobs in the marine and maritime sectors

Commission invests over €7.5 million under the European Maritime and Fisheries Fund to boost innovation, growth and jobs in the marine and maritime sectors. The European Commission is investing over €7.5 million to boost innovation and create jobs in the marine and maritime sectors. The money is available under the European Maritime and Fisheries Fund and divided in calls for proposal focusing on the key areas where the European Union can have the biggest impact: skills, creativity and technology. Innovation in...

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04 Apr
Chapter News

Piketty in FP: How to Save Europe From Itself

At the heart of the continent’s numerous crises is a broken democracy. Here’s how to fix it. By Thomas Piketty, Jeremy Adelman, Anne-Laure Delatte | April 4, 2016   The old world is in trouble. A prolonged economic slump, a debt crisis it can’t shake, malaise in the face of the humanitarian catastrophe generated by waves of asylum-seekers from the Middle East and North Africa, and security institutions seemingly incapable of keeping citizens safe — together, they have revealed the crippled state of...

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04 Apr
Chapter News

IMF Managing Director Christine Lagarde Letter to Greece Prime Minister Alexis Tsipras

April 3, 2016 His Excellency Mr. Alexis Tsipras Prime Minister of the Hellenic Republic Athens, Greece Dear Prime Minister, Thank you for your letter of April 2, in which you ask about the IMF’s position regarding the program negotiations with Greece. My view of the ongoing negotiations is that we are still a good distance away from having a coherent program that I can present to our Executive Board. I have on many occasions stressed that we can only support a program that is credible...

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04 Apr
Member News

World Trade Centers Association Welcomes Two New Members

The World Trade Centers Associate would like to congratulate and welcome their newest Members: • World Trade Center Aruba, Aruba • World Trade Center Merida, Mexico The Applicant Groups presented a comprehensive plan for developing iconic World Trade Center Facilities with international trade services component. WTCA EXTEND A WARM WELCOME AND CONGRATULATIONS TO WORLD TRADE CENTER ARUBA AND WORLD TRADE CENTER MERIDA! They look forward to continuing to build and strengthen the global WTCA network and to working in partnership with all their members to...

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04 Apr
Chapter News

U.S. Trade Representative Announces New Obama Administration Accomplishments in Reducing Barriers to American Exports

2016 National Trade Estimate Illustrates the Office of the U.S. Trade Representative’s Efforts to Remove Obstacles to Made-in-America Exports and Increase Economic Opportunity Abroad for American Workers, Farmers, and Businesses Washington, D.C. – American exports are a critical source of economic growth, prosperity, and jobs in every state. Central to President Obama’s commitment to doing trade right is applying all of the resources available to the U.S. Trade Representative (USTR) toward opening important markets to American exports, and leveling the playing...

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04 Apr
Chapter News

The ECB’s fight against low inflation: reasons and consequences

Speech by Peter Praet, Member of the Executive Board of the ECB, at Luiss School of European Political Economy, Rome, 4 April 2016 In the last half century central banks have come a long way in how they approach their macro-stabilisation functions. As recently as the late 1970s, views still diverged across advanced economy central banks as to the efficacy of monetary policy in delivering price stability. Some, such as the Bundesbank and the Swiss National Bank, were already committed...

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01 Apr
Member News

New York State Takes on Carried Interest Reform

Carried interest has been at the forefront of tax reform proposals in recent years. Carried interest refers to the share of profits that many fund managers receive from managing fund capital. Typically, funds pay investment managers (or their affiliates) a management fee and a share of fund profits (often referred to as “carried interest”). Generally, the management fee is taxed as ordinary income, while income from carried interest is often taxed as capital gains. Since 2007, there have been various...

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01 Apr
Chapter News

Labour costs in the EU

Hourly labour costs ranged from €4.1 to €41.3 across the EU Member States in 2015-Lowest in Bulgaria and Romania, highest in Denmark and Belgium In 2015, average hourly labour costs in the whole economy (excluding agriculture and public administration) were estimated to be €25.0 in the European Union (EU) and €29.5 in the euro area. However, this average masks significant gaps between EU Member States, with the lowest hourly labour costs recorded in Bulgaria (€4.1), Romania (€5.0), Lithuania (€6.8), Latvia...

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01 Apr
Member News

Stibbe Tax team contributes Netherlands chapter to The Inward Investment and International Taxation Review

The Netherlands has since long been a jurisdiction of choice for the establishment of international holding companies. Generally recognised benefits of using a Dutch (holding) company include an attractive participation exemption regime, extensive investment protection and tax treaty networks, no withholding taxes on interest and royalties and the cooperative approach of the Dutch tax authorities. The Stibbe Tax team has considerable knowledge of and experience in domestic and international matters such as mergers and acquisitions, private equity, finance structures, capital...

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01 Apr
Member News

Appellate Division holds that Town may be third-party beneficiary of a provision limiting the generator’s right to appeal property tax assessments

Appellate Division holds that Town may be third-party beneficiary of a provision limiting the generator’s right to appeal property tax assessments in a supply agreement between an energy generating company and a power authority. In June 1997, Long Island Lighting Company entered into a “Power Supply Agreement” with Long Island Power Authority, whereby the Company agreed to sell and deliver to the Authority energy produced from its power generating facilities in Nassau and Suffolk Counties, including certain facilities located in...

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