Member News

Shaping the future EU/UK relationship

The United Kingdom voted by referendum to leave the European Union. The turmoil resulting from this historical news will most likely lead to uncertainty for the years to come.Luxembourg, as a founding member of the EU, will closely contribute to the upcoming discussions on the future of the UK/EU relationship and we, at Arendt, have looked at the various options that could shape the future of this key relationship.Standstill period leading to withdrawal The UK will not leave the EU...

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Chapter News

VAT rules on vouchers approved by Council

On 27 June 2016, the Council adopted a directive aimed at increasing legal certainty for transactions involving vouchers by harmonising national VAT rules in this area.  The directive sets out to reduce the risk of mismatches in national tax rules leading to double taxation, non-taxation or other undesired consequences. This can happen where a voucher is issued in one member state and used in another, and particularly where vouchers are traded. Vouchers are used increasingly and come in many forms. They include...

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Member News

ITC Decision Bans Imports of Counterfeit Shoes

The U.S. International Trade Commission (“ITC”) issued a broad Exclusion Order upholding trademark protection of the diamond-patterned outsole portion of the shoe company’s famous Chuck Taylor sneaker.  The Exclusion Order has the effect of barring imports of sneakers that infringe on the Converse diamond-patterned outsole. The decision is considered a partial victory for defendants Walmart, Sketchers and New Balance, which were accused of infringing the trademark of the midsole – which consists of a rubber band around the front of...

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Chapter News

Statement on the Decision of Commissioner Lord Hill to resign from the European Commission and on the transfer of the Financial Services portfolio to Vice-President Valdis Dombrovskis

Commissioner Lord Hill, responsible for Financial Stability, Financial Services and the Capital Markets Union, has informed European Commission President Juncker of his decision to resign from his post as European Commissioner. President Jean-Claude Juncker said: "It is with great regret that I have accepted Lord Hill's decision to resign from the European Commission. Lord Hill is an experienced politician for whom I have great respect and I want to sincerely thank him for his loyal and professional work as a...

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Chapter News

Merkel zum Brexit: EU ist stark genug für die richtigen Antworten

Der heutige Tag ist ein Einschnitt für Europa, er ist Einschnitt für den europäischen Einigungsprozess", so Bundeskanzlerin Merkel in Berlin zum Brexit-Votum der Briten. Die Schlussfolgerungen aus dem Referendum in Großbritannien seien aber mit historischem Bewusstsein zu ziehen. Großbritannien hat mehrheitlich für einen EU-Austritt gestimmt. Foto: picture-alliance/Ohlenschläger Bundeskanzlerin Angela Merkel bezeichnete das Ergebnis des Referendums in Großbritannien als einen Einschnitt für Europa und für den europäischen Einigungsprozess. Mit Ruhe und Besonnenheit solle jetzt die Lage analysiert werden. "Die Europäische Union ist...

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Member News, New York Related News

Update on Property Tax Issues in Europe

Update on Property Tax Issues in Europe: IPTI  The EACC in partnership with the International Property Tax Institute (IPTI) wants to keep our members up to date with the latest developments in property taxes both in the USA and Europe. IPTI has put together a selection of reports from articles contained in IPTI Xtracts. The reports cover Italy, Spain, Germany, Ukraine, Greece, Cyprus, Croatia, United Kingdom, the United States and New York. Italy: IMF Looks for 'Modern Real Estate Tax' International Monetary Fund...

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Chapter News

The day after Brexit: what do we know?

Article 50 of the Treaty of the European Union (December 2009) sets out the procedural requirements for a member state to terminate its membership. Legal withdrawal would mean that EU Treaties and their Protocols would no longer apply, and EU financial programmes would be phased out. If the UK votes to leave the EU on Thursday, the result will not immediately have a binding legal effect. The UK government would need to launch a proposal to activate Article 50, and hold a...

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Chapter News

European Investment Bank statement following UK referendum on EU membership

Statement by Werner Hoyer, President of the EIB: “Today is a very sad day for Europe. As President of the European Investment Bank, I take note of the UK vote with the deepest regret, although of course the Bank will work with Member States and other EU institutions to assure an orderly transition to a new negotiated arrangement according to the Treaty. For the first time since the beginning of European integration after the war a country decided to reverse its...

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Member News

Brexit Checklists: What you need to know

Below a few checklists cover a broad range of industry areas to guide you through what a Brexit could really mean for your business. EACCNY Member CMS will continue to provide you with insight and information on key areas such as financial services, energy and corporate as well as competition. Please visit the Brexit Special Section back to find updated content as developments emerge. Please use the navigation to view our full collection of checklists. All checklists as PDF Banking Employment IPF Real Estate Competition Energy Lifesciences Taxation Construction Financial Services Pensions Energy in CEE Corporate Health...

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Chapter News

Statement by Prime Minister David Cameron on the outcome of the referendum on the UK’s membership of the European Union.

The country has just taken part in a giant democratic exercise – perhaps the biggest in our history. Over 33 million people – from England, Scotland, Wales, Northern Ireland and Gibraltar – have all had their say. We should be proud of the fact that in these islands we trust the people with these big decisions. We not only have a parliamentary democracy, but on questions about the arrangements for how we are governed, there are times when it is right...

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