On 10 November 2023, the Luxembourg Constitutional Court concluded_ that §8(2) a) of the law on net wealth tax was contrary to the constitutional principle of equality. Pending legislative reform, the taxpayers concerned will be subject to the minimum net wealth tax of EUR 1,605 when their total balance sheet is between EUR 350,000 and EUR 2,000,000, instead of the minimum net wealth tax of EUR 4,815.   Background Luxembourg imposes net wealth tax (NWT) on Luxembourg companies based on their unitary value,...

European Parliament supports new emissions rules for HGVs This week, the European Parliament adopted a negotiating position that supports rules to reduce air pollution from trucks and buses. The position was adopted with 445 votes in favor, 152 against, and 30 abstentions, showing a large majority of the Parliament is on board with the EU's objectives regarding emissions and the green transition overall. It also indicates Parliament is responding to citizens by fulfilling expectations to combat pollution, promote electric vehicles, and invest...

The rapid advancement of technology is pushing the world into an unexplored digital age where the variety of devices and applications provides both businesses and consumers with a plethora of advantages as they go about their days. There are, however, two sides to the metaphorical coin of digital transformation, a.k.a. the consequences that arise from the swift onset of technology along the way. The most notable of these consequences currently observable has been a significant increase in energy demand...

iLOQ is a technology disruptor that has transformed mechanical locking into highly functional, secure and sustainable digital access management. Our battery-free smart locks and keyless cellphone-based solutions provide benefits for building owners, property managers and residents alike by maximizing security, minimizing maintenance, administration and lifecycle costs, and creating smart living in multifamily properties. This year, we are celebrating our 20th anniversary. That’s two decades of innovating battery-free solutions that have completely revolutionized the landscape of the locking industry. What better...

On August 28, 2023, the Commerce Department’s Bureau of Industry and Security (BIS) released a proposed rule (https://www.regulations.gov/document/BIS-2023-0021-0001) that would revise the existing Section 232 exclusion process for steel and aluminum. If finalized, this would mark the sixth change (https://www.bis.doc.gov/index.php/232-steel) (https://www.bis.doc.gov/index.php/232-aluminum) to the exclusion process since its start in 2018. BIS could finalize the rule as well as changes to the process this winter. The changes could impact importers and users of steel and aluminum. Over the past five years,...

Overview: The dollar remains offered and our ideas about it stalling as central banks push against the timing and extent of the easing the market is anticipating are being challenged. The Governor of the Reserve Bank of Australia and the Bank of England both warned higher rates may still be needed. Still, the momentum may be slowing. Meanwhile, the short squeeze continues to lift the Japanese yen, which is trading at its best level in two months. The PBOC has...

Firm’s new AI+ Digital Transformation Strategy to Advance CRE, Enabling AI at Scale while Furthering Operations, Client Delivery and Data Stewardship CHICAGO (November 20, 2023) – Cushman & Wakefield (NYSE: CWK), a leading global commercial real estate (CRE) services firm, today announced it intends to embed Artificial Intelligence (AI) across its commercial real estate transaction lifecycle, to enhance client and employee outcomes. As part of AI+ – the firm’s new, exclusive digital transformation strategy, powered by AI and underpinned by proprietary...

Welcome to our little Swiss Dish. Where we give you insights of Switzerland’s economy in a cheesy way. Wear your safety vest and sunscreen, as in this publication we travel on water. Travelling by boat: Switzerland’s infrastructure offers many varieties to travel to work or for leisure. Did you know that many Swiss citizens take the fairy to cross from one end of the lake to the other to commute to work? Many use the opportunity to avoid the rush...