Search Results for: European commission
Fitch: Portugal EDP Exit Shows Fiscal Progress; Debt Still High
May 24th, 2017
The recommendation by the European Commission (EC) to end the Excessive Deficit Procedure (EDP) for Portugal underscores the strengthening in the country’s public finances following policy adjustments and an economic recovery, Fitch Ratings says. We expect the underlying trend ...
Sullivan & Cromwell to open Brussels office with antitrust hire
May 22nd, 2017
Sullivan & Cromwell, the US corporate law firm, has poached a senior European competition lawyer to open its first new office in nearly two decades based in Brussels. Michael Rosenthal is joining S & C as partner to work ...
IMF recommends lower, broader Corporate Tax for Luxembourg
May 15th, 2017
Further corporate tax reforms may be needed to Luxembourg’s tax regime for foreign companies if it is to maintain its appeal while responding to international tax initiatives, the International Monetary Fund has said. The IMF said that evolving international ...
Update on Brexit
May 14th, 2017
This article looks at the background to Brexit negotiations and concludes that Britain is negotiating from a position of strength, while the EU is increasingly in a position of financial difficulty. Not only will the European Commission be forced ...
EU raises eurozone growth forecasts
May 12th, 2017
Economic growth in the eurozone this year should be a bit better than previously forecast according to the latest outlook unveiled by EU Economic and Financial Affairs Commissioner Pierre Moscovici. Gross domestic product for the 19-country bloc is expected ...
Smirnoff owner Diageo to pay HMRC £107m in ‘Google tax’ crackdown
May 12th, 2017
Drinks company will challenge HMRC claim for tax and interest over ‘diverted profits’ Diageo, the drinks company behind Johnnie Walker, Smirnoff and Guinness, is to pay HMRC £107m under the “Google tax” crackdown aimed at multinationals. The FTSE 100 ...
AMF consults on changes to its General Regulation ahead of MiFID II
May 11th, 2017
As part of the reform of its markets in financial instruments directive, on 7 April 2016 the European Commission adopted a delegated directive that sets out provisions on the safeguarding of financial instruments and funds, product governance and inducements. ...
EU lawyers admit that £92billion Brexit Bill is impossible to enforce
May 8th, 2017
EU lawyers admit that £92billion Brexit Bill is impossible to enforce and warn Eurocrats against attempting to make the UK pay the massive bill EU officials were told they could not ‘cherry pick’ the accounts and hit the UK with ...
Italy gets Google to pay $335 million in tax arrears
May 5th, 2017
Google has buckled again under government pressure and agreed to pay millions in back taxes in Europe. Italy’s tax agency confirmed that Google (GOOGL, Tech30) would pay €306 million ($335 million) to cover taxes for the years 2009 to ...
Greece is fighting for debt relief
May 4th, 2017
Relief map for Greek debt? Not without a fight or two Easing Greece’s fiscal path forward is likely to be the next great struggle in the country’s agonizing, seven-year, three-package bankruptcy saga now that a bailout pact has opened ...
