EU lawmakers are preparing a new Artificial Intelligence Act (AIA). Timing for adoption remains unclear, but once the AIA enters into force, it will impose strict obligations on providers and users of AI systems. In the meantime, EU regulators have started issuing fines against companies using AI systems on the basis of the EU General Data Protection Regulation (GDPR). For example, the Hungarian privacy regulator recently issued a fine of approximately $680,000 against a bank for non-compliance with GDPR...

Stout's Royalty Audit Guide explains the rationale for and execution of a royalty audit. We discuss the various reasons for conducting such an audit, how to perform it — from selecting a royalty auditor to performing a site visit — and the nuanced contract provisions that make it possible. Over the last several years, brands and licensors, focused on identifying new and cost-effective revenue streams, have found innovative licensing opportunities. In particular, with the continual proliferation of video streaming, online...

Flen Health's leadership team will be hosting an Advisory Board Roundtable in Boston on the 13th of July, from 5:00 pm to 9:00 pm at The Westin Copley Place. This roundtable coincides with the Advanced Wound Care Summit, which will also take place in Boston during the same week. The discussion will focus on the nonclinical, clinical, regulatory, and reimbursement aspects of bringing Flaminal® through a drug or biological development pathway to the United States. The panel will feature high-level experts...

Growth of eCommerce As has been widely reported, eCommerce sales have risen dramatically in recent years1. COVID clearly accelerated this trend, but consumers increasingly prefer direct-to-consumer and eCommerce purchasing channels. This growing trend places strain not only on companies managing the transactions, but also on regulatory agencies responsible for enforcing international transaction regulations, primarily Customs and Border Protection (CBP) in the U.S. eCommerce fulfillment relies heavily on a U.S. Importation procedure known as “de minimis,” which many eCommerce companies are increasingly...

The new edition of the EU Tax Alert is available. With this publication we would like to keep you informed about the latest developments on EU tax law. We have summarised the highlights of this edition below. CJ’s judgment on whether Belgian legislation requiring digital platforms to provide relevant information on tourists accommodation establishments is in line with EU law (Airbnb Ireland v Région de Bruxelles-Capitale, C-674/20) On 27 April 2022, the CJ published its judgment in the Airbnb case (C-674/20)...

As the multifamily sector continues to grow, investors have Gen Z’s preferences in mind. With multifamily sales comprising 42% of all CRE transaction activity since the start of the pandemic, it’s no wonder multifamily has recently been dubbed “the darling” of real estate investors Generation Z is the first digitally native generation, so it's not surprising that they value high-speed internet not only more than any other amenity, but more than an any other cohort Generation Z—those born between 1997 and 2012—is...

The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep its members up to date with the latest developments in property taxes in the USA and Europe. IPTI has put together below a selection of articles from IPTI Xtracts; more articles can be found on its website (www.ipti.org). United States New York: City Council considers fat tax cut on hotels The hotel industry is still struggling to recover from the effects of the pandemic, and its lobbying group...

On 11 May 2022, the European Commission published a Directive proposal to tackle the tax bias in favour of debt funding. The proposal includes both a notional deduction on growth in equity and an additional limitation on interest deduction for corporate income tax (CIT) purposes – “DEBRA proposal”. The DEBRA proposal applies to all taxpayers, which are subject to CIT in one or more member states, save for certain financial undertakings. The proposed date of entry into effect is 1...