Multinationals

News & Analysis as of

Europe Is Shifting, And It’s a Big Deal – The New GDPR

The clock is now ticking. On May 4th the European Parliament published the final text of the General Data Protection Regulation (“GDPR”), and the rules of the game have significantly changed – at least in the context of EU...more

New Public Country-by-Country Reporting of Financial Information Proposed by European Commission

Country-by-country reporting (“CBCR”) is one of the OECD BEPS deliverables (under Action 13). It is expected to be a significant tool used by tax authorities’ auditors in evaluating a multinational group’s transfer pricing...more

Potential tax consequences of Brexit from a German perspective

On 23 June, the UK is holding a referendum to decide whether it should leave or remain in the European Union. A vote to leave the EU (the so-called Brexit) would not only have repercussions from a tax perspective for the UK....more

IRS Issues Proposed Regulations That Would Recast Certain Debt Instruments as Equity

On April 4, 2016, the IRS and U.S. Treasury Department, in connection with a package of anti-inversion regulations prompted by news of the recent spate of corporate inversions (particularly the $160 billion Pfizer-Allergan...more

Attention Taxpayers: New IRS Rules May Deem Debt to Be Stock

In April, the IRS proposed rules that would treat debt between related corporations as stock for U.S. tax purposes. These rules would apply to all corporations (including regular C corporations, S corporations, foreign...more

EU Publishes Final Text of GDPR

On May 4, 2016, the final version of the European Union’s General Data Protection Regulation (“GDPR”) was published in the Official Journal of the EU. The GDPR, which will replace the EU’s current Data Protection Directive,...more

What the Uber Settlement Means for Irish/NI Companies Operating in the US

Uber recently settled—for US$100 million—two class-action cases involving some of its drivers, and one of the issue points in the litigation was whether Uber drivers are independent contractors or employees under relevant US...more

French 3% contribution tax on distributions: Claim opportunities for French subsidiaries of MNEs following new developments...

On April 6, 2016 the First Instance Court of Montreuil filed a request with the French Constitutional Court in relation to potential breaches of the French Constitution (more precisely the Declaration of Human Rights dated...more

U.S. - India Newsletter Vol. 2016, Issue 2

Welcome to the second issue of our newsletter, which features news and articles of interest from Pepper’s U.S.-India Practice. In the first quarter of 2016, we saw a lot of activity in the international data privacy...more

Federal Budget Update

The Australian Government continued its attack on Multinational Tax Avoidance with the release of its 2016-2017 Federal Budget. Central to its Budget initiatives is the introduction of a 40% Diverted Profits Tax on large...more

IRS Rules Could Treat Related Party Debt as Stock

Multinational groups can strip U.S. earnings away from U.S. taxation by having a domestic corporation issue debt and pay earnings out to foreign affiliates as deductible interest. This strategy could be used after an...more

Germany – Premium Paid by Employer for Leaving Trade Union is Unlawful

Powerful trade unions often are a thorn in the side of employers. But if a company tries to reduce the trade unions’ influence, it may violate the freedom of association under Article 9 section 3 of the German Constitution...more

IRS Issues Proposed Regulations That Would Recast Certain Debt Instruments as Equity

On April 4, 2016, the IRS and U.S. Treasury Department, in connection with a package of anti-inversion regulations prompted by news of the recent spate of corporate inversions (particularly the $160 billion Pfizer-Allergan...more

The Basics of International Privacy Law for Commercial Litigators, Part 2: Global Trends

Although the volume of data that flows between the EU and the U.S. ensures that EU privacy law occupies most of the spotlight on the world stage, other countries have their own privacy laws worth noting as...more

The Panama Effect: UK Government accelerates proposals to criminalise failure to prevent tax evasion

10 considerations for professionals and corporates worldwide in advance of the new law. Overview - In a move widely seen as a response to the so-called “Panama Papers” revelations, the UK Government has enhanced...more

Treasury Issues Stringent Inversion Regulations, Proposes Far-Reaching Related-Party Debt Rules

New regulations expand prior guidance reducing tax benefits of inversions. Proposed debt-equity rules will impact even routine intercompany transactions. On April 4, 2016, the US Department of the Treasury (Treasury) and...more

China Customs authorities enhance monitoring of intercompany prices and royalty payments

China’s General Administration of Customs (GAC) has released an amendment to the Import and Export Declaration Documents Standards. Among many changes, the Amendment now requires Chinese entities with importing and exporting...more

All retailers must adopt new EU online dispute platform — does your UK website comply?

Since 15 February 2016, all EU retailers who sell online should have complied with the rules of the EU’s new online dispute resolution (“ODR”) platform. Compliance is mandatory for all retailers — from small independent shops...more

Action needed: new customs rules have potential severe impact on duties payable

As of May 1, 2016, the Union Customs Code (UCC) will come into effect and will replace the current Community Customs Code. The new UCC brings along significant changes in the customs rules which impact importers in the EU....more

Resource for Doing Business in the U.S. – Installment #6 – Immigration Matters

You have a plan for doing business in the U.S. Now who is going to help make that happen? As companies get ready to do business in the U.S. they often delay in thinking about one key matter: making sure the people needed to...more

CRA Provides Update on Efforts to Combat Tax Evasion

Following the release of the “Panama Papers” and the Canadian federal government’s budget announcement that additional resources will be directed to the CRA to collect existing tax debts and combat tax evasion, the CRA has...more

Understanding the Extraterritorial Scope of Title VII and the ADA for U.S. Employers

Many employers still grapple with the application of certain anti-discrimination laws — such as Title VII and the ADA — to non-U.S. citizen employees working in the United States and U.S. citizen employees working overseas. ...more

Workplace Bullying: What’s a Multinational Employer to Do?

Workplace bullying is increasingly acknowledged as a global issue, affecting most countries, professions, and workers. Although there is presently no law against workplace bullying in the United States, what about a US based...more

Legal revolution in France – civil law reforms (or Napoleon’s second coming)

This alert draws attention to the approaching entry into force of the new French civil code. This will be of interest to all parties with French law-governed agreements or that do business in France – especially regarding...more

New Model Iranian Petroleum Contract

As we look forward to the release of the new model Iranian Petroleum Contract, Dentons' oil and gas partners James Dallas and Alistair Black analyse the contents of the recently released "Principles of the New Contract Model"...more

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