Member News
Member News
17
Jul
Meeting the global challenge of evolving corporate compliance. Compliance is becoming more important as a variable that senior decision-makers must consider when choosing international expansion locations. At the same time, legal and tax teams need to know what jurisdictions are complex for handling compliance issues.
The TMF Group Compliance Complexity Index gives a detailed understanding of the changing picture for corporate compliance in 84 jurisdictions, as well as across continents and globally. It takes the pulse of a sector that is...
16
Jul
By Rachit Agarwal | Randall Fox | Joel Cooper
On 3 July 2018, the Organisation for Economic Co-operation and Development (OECD) published the much anticipated discussion draft on financial transactions (discussion draft) for public comment. Even though this discussion draft is a non-consensus document, it provides useful commentary and guidance on the application of arm's length principle to a broad range of intragroup transactions where international guidelines have been largely non-existent in the past.
The discussion draft also provides a peek into OECD's thinking...
13
Jul
By Max Welbes, Lea Hungerbühler
On 12 July 2018, the European Commission adopted two delegated regulations supplementing the Alternative Investment Fund Managers Directive (AIFMD) and the Undertaking for Collective Investment in Transferable Securities Directive (UCITS) on the safekeeping of assets by depositaries and their delegates.
Their main purpose is to eliminate discrepancies among different national regulations.
The following aspects will be amended:
Introduction of additional factors to determine the required frequency of reconciliation of accounts and records between the depository and the third parties...
13
Jul
By Darrel H. Pearson, Sabrina A. Bandali, and Jessica B. Horwitz | Bennett Jones
The Government of Canada has released its updated list of U.S. products that will be subject to a surtax when imported into Canada as of July 1, 2018. The final list targets approximately $16.6-billion worth of goods as a response to the U.S. section 232 tariffs imposed on Canadian steel and aluminum products. A 25% surtax applies to imports of listed steel products and a 10% surtax applies...
13
Jul
VULCAN VIEW - KEY EVENTS THIS WEEK:
BREXIT Theresa May’s softer Brexit plans thrown into disarray by prominent resignations.Theresa May’s conservative government encountered a wave of resignations this week in the aftermath of her cabinet showdown at Chequers last Friday. Brexit secretary David Davis was the first to resign. He announced his resignation, accompanied by his junior minister Steve Baker, on Sunday, in a bluntly critical letter which stated he would not be a “reluctant conscript” to proposals which would give no...
12
Jul
By Torsdon Poon, Petter Wendel, Gerald Whelan | EY
In the first quarter of 2018, private equity deal activity was up 60% over the same period in 2017, making it the most active first quarter for PE in more than a decade. That activity level is an indirect result of the Tax Cuts and Jobs Act, says Torsdon Poon, EY Americas Transaction Tax Leader.
“The fact that corporate tax rate reductions are helping to create more stability in the market is beneficial,” says Poon....
12
Jul
Join us on the High Line on Saturday, July 14th for a free community program featuring honey tastings, live beehives, and much more
Friends of the High Line and TD Bank, America's Most Convenient Bank®, and the Presenting Green Sponsor of the High Line, today announce the return of the High Line Honey program, which culminates this year with a summer harvest event on the High Line on Saturday, July 14th. Organizers expect to produce between 100 to 150 pounds of...
12
Jul
By Dr Raimund Behnes | DLA Piper
Following its recent joint decision on Deister Holding (C-507/16) and Juhler Holding (C-613/16) on the former version of the German anti-treaty shopping rule (see earlier insights), the European Court of Justice (ECJ) has now decided that the current version of Germany's anti-treaty shopping rule, as widely expected, is also incompatible with the EU Parent-Subsidiary Directive and infringes the EU freedom of establishment (ECJ decision C-440/17). This outcome renders the German anti-treaty shopping framework in its current form invalid and...