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Member News
Member News
08
Jan
On January 7, 2021, the United States Trade Representative (USTR) announced that new tariffs on certain French products are indefinitely suspended. According to USTR, the duties — which resulted from a Section 301 investigation of France’s Digital Services Tax (DST) and were set to take effect on January 6, 2021 — are being set aside as a means of “promot a coordinated response” to other DSTs that have been proposed or adopted in the European Union (EU) and multiple countries.
Background
On July...
08
Jan
On January 6, 2021, the U.S. Department of Labor (DOL) finalized its highly anticipated independent contractor rule. The rule delivers on the DOL’s promise to simplify, clarify and harmonize the factors for determining when a worker is an independent contractor versus an employee under the Fair Labor Standards Act (FLSA). It is meant to be the sole and authoritative interpretation for this analysis. Although the rule is slated to take effect March 8, 2021, the new administration is expected to...
08
Jan
The post-Brexit trade and cooperation agreement reached in the hours before Christmas between the UK and the EU is one of the most important trade deals in history. It is also the first to disintegrate a trading partnership, constructing, rather than removing barriers to trade.
After 47 years of EU membership, British Prime Minister Boris Johnson welcomed in the New Year telling Britons that “we have our freedom in our hands and it is up to us to make the...
07
Jan
Who Needs to Know
All parties interested in participating in the PPP.
Why It Matters
In addition to allocating $284.45 billion in new funding, this package of laws include significant clarifications and modifications to the PPP that are important to borrowers and lenders.
On December 27, 2020, the President signed into law the Consolidated Appropriations Act, 2021, which included the Economic Aid to Hard-Hit Small Businesses, Non-profits, and Venues Act (the Act), the COVID-Related Tax Relief Act of 2020, and the Taxpayer Certainty...
07
Jan
On December 31, 2020, the Trump administration issued a presidential proclamation extending the ban of entry for certain nonimmigrant and immigrant visas as outlined in its April 22, 2020, and June 22, 2020, proclamations. The ban includes certain applications for H-1B, H-2B, J-1, and L-1 visas for persons who were not present in the United States as of the effective date of the proclamation, as well as all applications for immigrant visa holders. The bans were set to expire on December 31,...
07
Jan
The Portuguese government decided to remove Andorra from the list of countries and territories that Portugal classifies as tax havens.
Andorra was removed from the list of countries and territories that Portugal classifies as tax havens at the beginning of this year, according to an order published in the country’s state journal on the last day of 2020.
The Portuguese government’s decision came after it received a formal request from the Principality to revise its place on the list and was...
06
Jan
As part of its leading role in providing global relief to address the COVID-19 crisis, the World Bank has committed significant financing to its member countries to respond to the pandemic and support economic growth. Recognizing the urgent need for these resources, the World Bank is relying on emergency guidelines that relax and expedite its traditional procurement oversight. However, companies interested in bidding in World Bank-financed projects should still expect the World Bank’s standards of conduct to apply, and...
06
Jan
Key insights
If you believe you may be eligible for the next round of PPP, begin preparing now.
Take a fresh look at the employee retention credit: it’s been expanded.
Consider whether a retroactive capture of WOTC applies to your organization.
The newly passed COVID-19 relief bill is packed full of changes to 2020 economic relief legislation, new benefit options, and more. Most of our clients are asking, “Where should I begin?”
The five highlights below can help you get started:
1. The Paycheck...
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