On September 3, 2024, the European Union’s Court of Justice (ECJ) issued its highly anticipated judgment in the Illumina/Grail case (C-611/22 P and C-625/22 P) concerning the European Commission’s (EC’s) power to review...more
As a new policy statement from the European Commission (EC) treats wage-fixing and no-poach agreements as inherently anticompetitive (restriction of competition “by object”) with few possible defences, companies should...more
The United Kingdom’s Digital Markets, Competition and Consumers Act (the Act) received royal assent on 24 May 2024. The Act introduces wide-ranging amendments to the UK competition and consumer law regimes that expand the...more
5/29/2024
/ Anti-Competitive ,
Antitrust Provisions ,
Breach of Competition Law ,
Competition Act ,
Digital Markets Strategy ,
Enforcement ,
Investigations ,
Jurisdiction ,
Jurisdictional Thresholds ,
Merger Controls ,
Mergers ,
Misleading Statements ,
Penalties ,
Price Inflation ,
Safe Harbors ,
UK ,
UK Competition and Markets Authority (CMA)
The Digital Markets, Competition and Consumers Act (DMCC or the Act), adopted on 24 May 2024, empowers the Competition and Markets Authority (CMA) to regulate the conduct of major tech platforms....more
5/29/2024
/ Appeals ,
Corporate Counsel ,
Digital Marketplace ,
Digital Markets Strategy ,
Enforcement ,
EU ,
European Commission ,
Noncompliance ,
Reporting Requirements ,
Technology Sector ,
UK ,
UK Competition and Markets Authority (CMA)
Starting today, October 12, 2023, the mandatory notification requirements under the EU’s Foreign Subsidies Regulation (FSR) apply. M&A deals involving businesses that (i) have been granted certain levels of financial support...more
On 12 July 2023, the EU’s Foreign Subsidies Regulation (FSR) entered into force. The FSR allows the European Commission (EC) to investigate and remedy subsidies received from non-EU countries that distort the EU internal...more
7/18/2023
/ Acquisitions ,
Disclosure Requirements ,
EU ,
European Commission ,
Filing Requirements ,
Financial Services Industry ,
Foreign Direct Investment ,
Foreign Subsidiaries ,
Investigations ,
Investment ,
Mergers ,
Pre-Merger Filing Requirements ,
Private Equity ,
Required Documentation ,
Subsidies
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
If you (i) receive some form of financial support from foreign (non-EU) governments, and (ii) have activities or are planning to acquire a business in the EU, then you will want to read on....more
7/13/2022
/ Competition ,
EU ,
European Commission ,
European Merger Control Regulation ,
Foreign Subsidies ,
Member State ,
Merger Controls ,
Mergers ,
Public Procurement Policies ,
State Aid ,
State-Owned Enterprises
The European Commission (EC) signals relaxation of its strict anti-subsidy regime to encourage national aid for semiconductor manufacturing capabilities. Member states will have more freedom to provide government support to...more
The European Commission (EC) has proposed legislation to curb M&A, public procurement and market conduct by foreign-subsidized companies that may distort the European Union’s internal market. New requirements include...more
The new Article 22 EU Merger Regulation (EUMR) Guidance released by the European Commission (EC) enables the EC to review any acquisition, even those that do not qualify for notification under national (or EU) merger control...more
The European Commission’s (EC) June 2020 white paper proposing wide-ranging controls over foreign-subsidized companies’ access to Europe’s internal market has received fresh impetus. In a report issued earlier this month, the...more
Summary -
The European Commission (EC) has proposed far-reaching new powers to investigate and sanction foreign subsidies that have allegedly distortive effects on the European Union’s (EU) internal market. The proposals...more
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
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)
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
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
In recent years, the European Commission (EC) has been actively enforcing European Union state aid violations, an area of law that is unique to Europe but has wide-ranging implications for multinationals with investments in...more
9/20/2017
/ Acquisitions ,
Antitrust Violations ,
Enforcement Actions ,
EU ,
European Commission ,
Foreign Investment ,
Infrastructure Financing ,
Member State ,
Mergers ,
Multinationals ,
State Aid ,
Tax Structuring