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 a selection of brief reports from articles contained in IPTI Xtracts which can be found on its website (www.ipti.org).   USA California: Protect Prop 13 protections for property owners In November 2020, California voters and taxpayers will have the opportunity to weigh in on one of the most...

On May 13, 2019, the U.S. Trade Representative (“USTR”) issued a proposed List 4 which threatens to impose additional tariffs of up to 25% on “essentially all” Chinese products imported into the U.S. that were not covered by previous section 301 pronouncements. Pharmaceuticals, certain chemicals made into prescription pharmaceuticals, rare earth minerals and critical minerals are excluded from this latest action. The remaining product categories cover 3,805 full and partial tariff subheadings. The list includes toys, apparel, shoes, food and...

Key Events This Week Polls predict decimation of Tories in European elections Latest polling puts Nigel Farage’s Brexit Party ahead of the pack in the race for the European elections. Polls suggest that the Brexit Party commands between 30% and 34% of the prospective vote for the upcoming European elections, taking place on 23 May. Polls show the Labour party holding 21% of the prospective vote and the Conservatives languishing on just 12%. This would mean the Conservatives would fall to their...

On February 25, 2019, the European Banking Authority (EBA) published its final Guidelines on outsourcing (Guidelines) to ensure that sound risk management measures are adopted by banking, financial, and payment institutions (Institutions). These Guidelines will become effective September 30, 2019 and specifically highlight FinTech and data protection issues. This not only reveals some potential regulatory challenges that EU players will have to face going forward, but also relates to the broader interest in IT outsourcing also echoed by US regulators. Outsourcing...

The Toy Association – the not-for-profit trade association representing the toy, game, and youth entertainment product businesses that drive the annual $28 billion American toy market and are leaders around the world – announced today that the Trump administration’s proposed 25 percent tariffs on $300 billion in Chinese imports, including children’s toys, would irreparably harm American families, jobs, and businesses. "The return of a dark tariff cloud threatening the toy and retail communities would sharply increase the cost of toys...

By Dr. Max Helleberg & Dr. Bärbel Sachs | Noerr LLP As previously reported, the European Union has adopted a framework regulation for the screening of foreign direct investments into the Union. It entered into force on 11 April 2019. However, the Regulation will not apply until 11 October 2020. Unusually for an EU Regulation, it merely provides a legal framework to be completed by the Member States. The decision on whether to set up a screening mechanism or to...

Pursuant to the Law No. 155 of October 19, 2017 delegating the Italian government to reform state provisions governing business crisis and insolvency, the Legislative Decree No. 14 was enacted last January 12, 2019 (“New Code”). While most of the new provisions on business crisis and insolvency will enter into force next August 15, 2020, some provisions came into force on March 16, 2019. These provisions essentially cover (i) the organizational structure of Italian limited liability companies and (ii)...

By Jorge Lopez and Elizabeth Whiting on May 7, 2019 On April 25, 2019, the American Immigration Lawyers Association (AILA) issued a practice alert announcing that the nationwide immigration association had “been in discussions with CBP related to what appeared to be an unannounced policy change in L-1 adjudication at the port of entry under NAFTA.”1  AILA advised the immigration community that—contrary to existing policies allowing Canadian citizens to apply for extension of L-1 intracompany transfer visas at ports of...