Alex Jupp at Skadden, Arps, Slate, Meagher & Flom LLP

First-Mover Disadvantage? Challenges to Being Tax Resident in an Early Pillar Two Jurisdiction

The OECD envisioned a coordinated rollout of Pillar Two, its model of interlocking rules to establish a global minimum corporate tax rate. However, the staggered implementation taking place among participating...more

9/21/2023 / Interlocking Directorate , Multinationals , OECD , Safe Harbors , Tax Incentives

EU Court of Justice Faults European Commission for Expansive Interpretation of State Aid in Tax Rulings

On November 8, 2022, the Court of Justice of the European Union (CJEU), overturning the first instance EU General Court (General Court), annulled the European Commission’s (EC’s) decision that a Luxembourg tax ruling on...more

12/1/2022 / Court of Justice of the European Union (CJEU) , EU , European Commission , International Tax Issues , Luxembourg , OECD , State Aid

Plus Ça Change ... Reframing the Tax Influences of the European Union

Takeaways - While the Trade and Cooperation Agreement (TCA) includes new commitments by the parties on tax, certain EU-derived tax rules will remain relevant in the UK. - That is actually a good thing in one respect: UK...more

3/5/2021 / Corporate Taxes , EU , Financial Services Industry , Foreign Commerce , International Tax Issues , OECD , State Aid , Subsidies , Tax Authority , Tax Planning

Critical Thinking in the Time of COVID-19: What To Consider Next From a European Tax and State Aid Perspective

In this series, “Critical Thinking in the Time of COVID-19,” our European tax practice examines the next stage of analysis for corporates that have begun digesting the economic and legal impact of COVID-19 on their...more

4/6/2020 / Compliance , Coronavirus/COVID-19 , Corporate Taxes , EU , France , Germany , International Tax Issues , Lobbying , Social Insurance Contributions , State Aid , UK

Critical Thinking in the Time of COVID-19: What To Consider Next From a European Tax Litigation and Enforcement Perspective

In this series, “Critical Thinking in the Time of COVID-19,” Skadden’s European tax practice examines the next stage of analysis for corporates that have begun digesting the economic and legal impact of COVID-19 on their...more

3/31/2020 / Coronavirus/COVID-19 , Corporate Taxes , Enforcement Actions , EU , Tax Litigation , UK

Skadden's 2020 Insights

Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more

1/30/2020 / Acquisitions , Administrative Procedure Act , Anti-Discrimination Policies , Anti-Harassment Policies , Anti-Kickback Statute , Antitrust Investigations , Appeals , Arbitration Awards , Attorney General , Backstop Agreements , BEPS , BitLicense , Blockchain , Board of Directors , Bonds , Capital Markets , CFIUS , CFTC , Chapter 11 , Claim Preclusion , Class Action , Commercial Bankruptcy , Common Stock , Congressional Investigations & Hearings , Congressional Subpoenas , Consumer Financial Protection Bureau (CFPB) , Cooperation Agreement , Copyright , Corporate Governance , Corporate Restructuring , Corporate Social Responsibility , Corporate Taxes , Corwin Doctrine , Covenant Lite Deals , Creditors , Cross-Border Transactions , DACA , DE Supreme Court , Debt Financing , Debtors , Department of Justice (DOJ) , Dischargeable Debts , Disgorgement , Disparate Impact , Dodd-Frank , Down Rounds , Drug Pricing , EBITDA , Employee Retirement Income Security Act (ERISA) , Employer Liability Issues , Employment Discrimination , Enforcement Actions , Enforcement of Foreign Judgments , Enterprise Act 2002 , Environmental Social & Governance (ESG) , EU , Fair Housing Act (FHA) , Federal Trade Commission (FTC) , FinTech , FIRRMA , Foreign Acquisitions , Foreign Investment , Foreign Issuers , FRCP 23 , General Data Protection Regulation (GDPR) , General Elections , GILTI tax , High-Yield Markets , Hong Kong , Hong Kong Stock Exchange , Individual Accountability , Initial Public Offering (IPO) , Intellectual Property Litigation , Intercreditor Agreements , International Arbitration , International Litigation , IRS , Issue Preclusion , Japan , Joint Venture , Legislative Agendas , Life Sciences , Listing Rules , Litigation Strategies , Make-Whole Premium , Mergers , MFW , Multinationals , National Security , PCAOB , Pharmaceutical Industry , Political Parties , Preferred Shares , Private Offerings , Privately Held Corporations , Proxy Advisory Firms , Publicly-Traded Companies , Refinancing , Regulatory Agenda , Reporting Requirements , SCOTUS , Securities and Exchange Commission (SEC) , Securities Litigation , Separation of Powers , Shareholder Activism , Shareholder Proposals , Shareholders , Split of Authority , State Labor Laws , Stock Drop Litigation , Tax Cuts and Jobs Act , Tax Litigation , Technology Sector , Third-Party Release Agrements , Transparency , UK , UK Brexit , Valuation , White Collar Crimes

Lessons From 2019: Impact of BEPS on Cross-Border Transactions

In 2019, a number of common themes emerged from cross-border transactions that have continued to demonstrate the impact of the 2014 Base Erosion and Profit Shifting (BEPS) actions. These themes, which we anticipate will gain...more

1/28/2020 / BEPS , Corporate Taxes , Cross-Border Transactions , Due Diligence , EBITDA , Financing , International Tax Issues , Multinationals , Risk Assessment , Risk Management , Tax Planning , Tax Treaty , Transfer Pricing

EU General Court Rules on Starbucks and Fiat State Aid Cases

On September 24, 2019, the EU General Court (General Court) issued its long-awaited judgments in relation to the appeals brought against two European Commission (EC) decisions of 2015 concluding that tax rulings granted by...more

9/30/2019 / Arm's Length Principle , Benchmarks , Business Profits , Corporate Counsel , Corporate Taxes , European Commission , Fiat , General Court of the European Union (GCEU) , Luxembourg , Member State , Netherlands , Regulatory Authority , Starbucks , State Aid , Tax Litigation , Treaty on the Functioning of the European Union (TFEU)

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - September 2019

In this issue of The Distributed Ledger, we discuss the IRS' warning letters for over 10,000 cryptocurrency holders, the SEC's settlement with a blockchain company regarding unregistered ICO transactions, and a European...more

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - April 2019

In this issue, we examine the release of the much-anticipated Strategic Hub for Innovation and Financial Technology (FinHub) guidance for analyzing how U.S. federal securities laws apply to initial coin offerings, the...more

4/16/2019 / Advertising , Blockchain , California Consumer Privacy Act (CCPA) , CNIL , Cryptocurrency , Default , Digital Assets , Discovery , Distributed Ledger Technology (DLT) , Division of Corporate Finance , Ethereum , EU , FinHub , France , Frozen Assets , General Data Protection Regulation (GDPR) , Guilty Pleas , Initial Coin Offering (ICOs) , Investment Contract , Motion to Dismiss , No-Action Letters , NYDFS , Offerings , Payment Tokens , Personal Jurisdiction , Plea Agreements , Popular , Preliminary Injunctions , Profits , Public Comment , Putative Class Actions , Safe Harbors , Securities , Securities and Exchange Commission (SEC) , Securities Exchange Act , Securities Fraud , Securities Tokens , Securities Violations , Settlement , Smart Contracts , Unregistered Securities , Virtual Currency

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - November 2018

This is the second edition of The Distributed Ledger, a periodic publication covering the latest trends and developments in blockchain technology, digital assets and smart contracts. In this issue, we examine the SEC’s new...more

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts

This is the inaugural issue of The Distributed Ledger, a periodic publication covering the latest trends and developments in blockchain technology, digital assets and smart contracts. In this edition, we examine a federal...more

UK Plans to Maintain State Aid Regime Post-Brexit

On August 20, 2018, the U.K. government published further details of its negotiation position with the European Union on state aid post-Brexit. Three days later, it published guidance on state aid in case the U.K. leaves the...more

8/31/2018 / EU , European Commission , Member State , Multinationals , State Aid , Subsidies , Tax Credits , UK , UK Brexit , UK Competition and Markets Authority (CMA)

European Commission Presents ‘Fair Taxation of the Digital Economy’ Package

On March 21, 2018, the European Commission released a draft legislative package for “fair taxation of the digital economy,” which would establish new tax rules for digital business activities within the European Union. This...more

3/27/2018 / Business Profits , Digital Single Market , Digital Taxes , Double Taxation , Economic Presence Nexus , EU , EU Single Market , European Commission , Gig Economy , Member State , OECD , Tax Reform , Tax Treaty

International Taxation in the Digital Era: The Rapidly Evolving European Perspective

Europe’s politicians worry that international tax rules have not kept pace with the digital economy and too easily allow multinationals to organize their global operations to minimize net taxable profits in high-tax European...more

1/23/2018 / Corporate Taxes , Digital Assets , EU , European Commission , France , International Tax Issues , Italy , Multinationals , OECD , State Aid , Tax Reform , UK

European Commission Opens State Aid Investigation Into Finance Company Exemption From UK CFC Rules

On 26 October 2017, the European Commission (the Commission) opened an in-depth investigation into UK statutory rules that exempt certain financing income earned by foreign subsidiaries of UK corporate taxpayers from UK tax....more

10/31/2017 / Anti-Avoidance , Antitrust Investigations , Business Income , Controlled Foreign Corporations , Corporate Taxes , EU , European Commission , Financing , Foreign Subsidiaries , Multinationals , State Aid , Statutory Requirements , Tax Exemptions , Treaty on the Functioning of the European Union (TFEU) , UK , UK Brexit

"Business Tax Reform All but Certain in US, Europe"

United States - The prospects for business tax reform in the United States were greatly enhanced by the 2016 election results. Reform under Republicans, who control both the White House and Congress, could dramatically...more

2/6/2017 / Anti Tax Avoidance Directive (ATAD) , BEPS , Business Taxes , Corporate Taxes , Cross-Border Transactions , EBITDA , EU , Exports , Foreign Acquisitions , Foreign Subsidiaries , Imports , International Tax Issues , Inversion , Mergers , Multinationals , OECD , Parent Corporation , State Aid , Tax Reform , Trump Administration , UK Brexit

"'Failure to Prevent': The Implications for Global Financial Institutions"

The U.K. government is set to introduce a new corporate criminal offence, based on the strict liability of the entity in question. It almost certainly will come into force in 2017, once the Criminal Finances Bill (Bill) is...more

12/23/2016 / Associated Persons , Corporate Liability , Criminal Finances Bill , Criminal Liability , Financial Conduct Authority (FCA) , Fraud Prevention , HMRC , Public Interest , Risk Assessment , Risk Mitigation , Tax Evasion , UK

"The New UK Corporate Offence of 'Failure to Prevent the Facilitation of Tax Evasion': Implications for Fund Managers and...

The U.K. government expands its crackdown on tax evaders and the persons who assist them, by targeting businesses who fail to prevent tax evasion....more

12/22/2016 / Corporate Liability , Criminal Fascilitation , Criminal Liability , Criminal Penalties , Due Diligence , Employee Training , Foreign Tax , Fraud Prevention , Fund Managers , HMRC , Indemnity Agreements , Investors , Risk Assessment , Senior Managers , Tax Evasion , Third-Party Service Provider , UK , UK Bribery Act , White Collar Crimes

Alex Jupp

Skadden, Arps, Slate, Meagher & Flom LLP

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