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WilmerHale

The European Parliament Adopts the AI Act

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On March 13, 2024, the European Parliament adopted the Artificial Intelligence Act (AI Act). It is considered to be the world’s first comprehensive horizontal legal framework for AI. It provides for EU-wide rules on data...more

Benesch

European Union Artificial Intelligence Act: An Overview

Benesch on

On March 13, 2024, the EU AI Act received its final assent from the EU Parliament with 523 votes in favor, 46 against and 49 abstentions, bringing it one step closer to adoption. Minor linguistic changes are still to be...more

White & Case LLP

The pre-final text of the EU’s AI Act leaked online

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On January 22, 2024, the pre-final text of the European Union's Artificial Intelligence Act ("EU AI Act") – the world's first comprehensive horizontal legal framework for the regulation of AI systems across the EU – leaked...more

Morrison & Foerster LLP

The European Economic Security Package

Building on the European Security Strategy of June 2023, the European Commission on January 24, 2024, adopted a package of five initiatives aiming to enhance the EU’s economic security. The package contains a far-reaching...more

BCLP

Impact of Pillar Two on Tax Risk Apportionment for a Corporate Sale

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How do you draft a tax covenant for a corporate sale when the Seller Group is within the scope of a Pillar Two charge? This is an issue that will become increasingly relevant as we approach the Pillar Two start date at the...more

Holland & Knight LLP

New Multilateral Tax Treaty Implements the Subject to Tax Rule

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More than 135 jurisdictions since October 2021 have joined a groundbreaking plan to address certain tax challenges of the new digital and global economy. The plan consists of a Two-Pillar Solution to update key rules of the...more

Foley & Lardner LLP

Building a Better AI Legal Framework: The EU AI Act and Beyond

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Recent discussions surrounding the EU Artificial Intelligence Act have accelerated as the European Parliament took the Act one step closer to becoming effective law. On June 14, 2023, the Parliament voted for negotiations...more

Latham & Watkins LLP

OECD Updates Corporate Due Diligence Guidelines

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The Guidelines build on current social, environmental, and technological issues facing businesses following the last update in 2011. The Organisation for Economic Co-operation and Development (OECD) released updated...more

Hogan Lovells

New tax obligations for platform operators as Spain transposes DAC7

Hogan Lovells on

Pursuant to the transposition in Spain of the Council Directive (EU) 2021/514 of 22 March 2021 (so-called “DAC7”) and the implementation of the Model Rules for Reporting by Platform Operators developed by the OECD/G20 BEPS...more

McDermott Will & Emery

International Legal Highlights | June 2022

EUROPEAN COMMISSION ADOPTED A PROPOSAL DIRECTIVE ON CORPORATE SUSTAINABILITY DUE DILIGENCE - On 23 February 2022, the European Commission (EC) adopted a proposal for a directive on corporate sustainability due diligence...more

McDermott Will & Emery

An Overview of OECD Pillar 2

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The Organisation for Economic Co-operation and Development (OECD)/G20 Global Anti-Base Erosion (GloBE, Pillar 2) Model Rules, published in December 2021, intend to address perceived challenges to long-standing international...more

White & Case LLP

Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy: 15% Minimum Tax for...

White & Case LLP on

On November 4, 2021, 137 countries, under the aegis of the OECD, adhered to the Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy. Pillar 1 aims to ensure a better...more

White & Case LLP

ATAD III: Is the tide turning on shell companies?

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The European Commission (the "Commission") published a draft Directive on 22 December 2021, known as the anti-tax avoidance Directive III ("ATAD III"), aimed at preventing the use of shell companies for tax evasion and...more

White & Case LLP

Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy: 15% Minimum Tax for...

White & Case LLP on

On November 4, 2021, 137 countries, under the aegis of the OECD, adhered to the Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy. Pillar 1 aims to ensure a better...more

Jones Day

EU Court Overturns Commission Decision in Landmark Apple Tax Case

Jones Day on

The Development: The EU General Court annulled the European Commission's decision in the Apple case, holding that the Commission did not prove that the Irish tax rulings in question gave rise to a selective advantage under EU...more

BCLP

Importance of conformity to international tax standards – Cayman Islands added to the EU blacklist of non-cooperative...

BCLP on

The EU’s Economic and Financial Affairs Council (ECOFIN) maintains a list of non-cooperative jurisdictions for tax purposes; the purpose of which is to contribute to ongoing efforts to promote tax good governance worldwide....more

Proskauer Rose LLP

UK Tax Round Up - November 2019

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UK Case Law Developments - More decisions on IR35 - This month has seen two more decisions on whether broadcast presenters providing their services to the BBC and ITV respectively would or would not have been...more

Proskauer Rose LLP

UK Tax Round Up - March 2019

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EU developments - European Court rules that withholding tax exemptions under EU Directives can be denied by abuse of rights principle - At the end of February, the Court of Justice of the European Union (CJEU) issued...more

K&L Gates LLP

Brussels Regulatory Brief: March 2019

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Antitrust and Competition - EU Cartel Damages: Advocate General says that liability in cartel damages cannot be avoided through corporate restructuring - On 6 February 2019, Advocate General Nils Wahl found in his...more

McDermott Will & Emery

CJEU Rules on Parent-Subsidiary & Interest and Royalties Directives Anti-abuse Clauses

On February 26, 2019 the Court of Justice of the European Union (CJEU) issued the long-awaited judgments on the cases concerning the Danish government withholding tax on dividends and interest paid by Danish companies to...more

Womble Bond Dickinson

European Anti-Tax Avoidance Directive Goes into Effect January 1, 2019

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Background on the Anti-Tax Avoidance Directive - On January 1, 2019, the EU Anti-Tax Avoidance Directive (“ATAD”) went into effect for all 28 Member States. ATAD is the European Commission’s response to the relevant Action...more

Akin Gump Strauss Hauer & Feld LLP

European Tax Update January 2019

We set out below a recap of some of the key European and international tax developments to note at the start of 2019. This alert provides a brief summary of the following...more

Jones Day

EU Targets Tax Avoidance Reporting Obligations for Intermediaries

Jones Day on

The Situation: The Member States of the EU have unanimously agreed on a proposed directive establishing new and far-reaching tax reporting obligations for "intermediaries" and taxpayers. The Result: The proposal lays down...more

Skadden, Arps, Slate, Meagher & Flom LLP

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

Proskauer Rose LLP

UK Tax Round Up - December 2017

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Finance (No. 2) Bill 2017-19 - The first version of the Finance (No. 2) Bill 2017-19 was published on 1 December 2017. The majority of the Bill's content had been previously announced at the Autumn 2017 Budget (see...more

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