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Getting closure in transfer pricing and DPT enquiries Recent cases, including Embiricos and Vitol, have clarified the circumstances in which taxpayers can bring finality to protracted enquiries by applying to the court for the issuance of closure notices. However, the taxpayer’s victory in Vitol has...
BLOG: Exploring the pros and cons of an online sales tax It is clear from the recent HM Treasury consultation document that an online sales tax (OST) applied to certain sales to UK customers would be a very complex measure, even though its aim of levelling the playing field between retailers operating...
The Russia-Ukraine crisis: Implications for energy markets On 8 March the UK, US and EU urgently reviewed their energy policy with a view to reducing dependence on Russian oil and gas. In this article, we explore what happened and what this might mean for energy markets. Background In liberalised energy...
EFIG: European Banking Newsletter - March 2022 Developments in this month's edition include: SREP 2021 results - the ECB publishes the SREP 2021 COVID-19 - ECB announces no further extension of capital and leverage relief for banks Pilatus Bank and another v European Central Bank (Case...
Global Investigations Bulletin (March 2022) Our latest Global Investigations Bulletin for March 2022 is now available. This month, we review the UK’s legal framework for sanctions against certain Russian individuals and entities, and set out the latest news in global investigations and enforcement...
Parallel Reviews - Parallel Decisions? A look back at the first 12 months of EC & CMA merger reviews A look back at the first 12 months of EC & CMA merger reviews. One year of post-Brexit parallel merger control reviews by the UK’s Competition and Markets Authority and the European Commission has seen the authorities diverge in several cases....
BLOG: Is tax gender-neutral?   A recent OECD report, based on a July 2021 survey of 43 countries, including from the G20, the OECD and beyond, found few examples of explicit bias (i.e. where tax rules differ by gender). But more than half of the respondent countries saw a...
Hong Kong Implements a Comprehensive Regime on the Regulation of Virtual Assets Licensed intermediaries are permitted to provide a range of services related to virtual assets (VAs) to professional investors, subject to complying with a suite of investor safeguards. The safeguards include partnering only with SFC-licensed VA trading...
A closer look at the approach of Hong Kong courts in determining legal challenges against delisting decisions In the past year, we have seen a number of failed attempts to challenge the decisions made by The Stock Exchange of Hong Kong Limited (the Exchange) to cancel the listing of certain issuers by way of judicial review. The latest attempt was made by Up...
Pensions Bulletin - February 2022 Pensions dashboards; Climate risk governance and reporting; International Data Transfer Agreement; Collective Money Purchase Schemes; trustee decision to pay death benefits to dependant In this month’s Pensions Bulletin, we cover: Consultation...