With the explosive growth of e-commerce, there has been a move to adapt the VAT system, initially built for offline transactions. A VAT e-commerce package for business-to-consumer (B2C) transactions came into force as from 1 July 2021. It has several objectives: to facilitate online sales within the EU market by easing the VAT compliance burden; to achieve equal treatment of EU and non-EU operators selling goods on the European market; to move towards implementing the principle of taxation in the...

While there has been a great deal of press in the last year about the Employee Retention Credit and other payroll assistance provisions included in the economic recovery legislation, we want to remind you of an important employee related credit that is not new and is ongoing through at least 2025. Work Opportunity Tax Credit When you hire people from targeted categories and employ them for at least 120 hours, you can reduce your federal tax liability by up to $9,600...

On Tuesday, the European Commission presented its Sustainable Finance Strategy to make the financial system more sustainable. At the same time, the Commission also proposed a new European Green Bond Standard to “create a high-quality voluntary standard for bonds financing sustainable investment.” According to Commissioner in charge of Financial Services, Financial Stability, and Capital Markets Union, Mairead McGuinness, the new strategy will significantly contribute “investment to green the economy and create a more inclusive society.” The Sustainable Finance Strategy comes a week before the...

A Data Mosaic approach to risk management can help identify emerging topics and narratives often missed by traditional approaches. Sentiment data, along with other alternative datasets, is commonly used by asset managers to achieve market-beating returns, yet it remains widely underutilized within risk management. In this paper, we examine several examples of topical events that have impacted markets globally, and how news data can be incorporated within business practices to prevent and mitigate risk in real-time. Specifically, we will unpack the...

Welcome to the 2021 report on our Spotlight on Women program and Diversity, Equity & Inclusion Initiative. This year’s theme is “Momentum,” a fitting choice given the progress we made during an extraordinarily difficult year. In these pages you’ll read about the concrete steps the firm has taken to promote diversity and advance equity and inclusion. We’re proud of Thompson Hine’s accomplishments and we invite you to celebrate with us as we reflect on our successes and plan for...

In the latest issue of The Weekly Roar, HMM spends $1.57B on 12 new container ships, port congestion causes detention and demurrage fees to spike, Hapag-Lloyd makes the first digitally-controlled port arrival, JFK plans to develop a new airfreight handling facility, and the air cargo sector predicts a healthy peak season. After signing newbuild contracts with two different manufacturers in South Korea, HMM announced that it expects all 12 vessels — each capable of carrying 13,000 TEUs — to arrive...