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Cross-border recovery of tax debts through set-off If one Member State requests assistance from another Member State in respect of the recovery of a debt under the Mutual Assistance Recovery Directive (MARD), the requesting state’s claim is treated is if it was a claim of the requested state. In Pantochim...
UK amongst those delaying DAC6 reporting deadlines Rumours about a delay to the DAC6 filing dates have been tantalisingly rumbling on for a while now, as the commencement date of 1 July 2020 looms closer. With many practical questions still unanswered, the tools for submitting reports yet to be made...
A brand new subsidy regime for the UK? A key outstanding issue between the EU and the UK in the negotiations on the future partnership agreement is the implementation of a level playing field for competition. The resolution of this issue will likely affect the shape of any future domestic...
COVID-19 and the banking sector - overview of the main measures adopted in France to face the crisis In response to the COVID-19 crisis, and in line with international and European authorities (in particular the European Central Bank (ECB) and European Banking Authority (EBA)), French authorities have taken a series of measures to modify and adapt the...
The new EU Covered Bond Directive: Funding opportunities for European banking groups The new EU Covered Bond Directive (which came into force, together with an EU Regulation, in January 2020 and needs to be implemented in member states by July 2022) contains a discretionary initiative that can, but is not required to be, introduced by...
New EU prudential regime for investment firms – key aspects and immediate considerations The Investment Firms Directive (IFD) and Investment Firms Regulation (IFR) came into force in December 2019 and apply to all investment firms as defined under the Markets in Financial Instruments Directive II (MiFID II). The IFR will apply across EU...
COVID-19: new German law provides temporary relief in relation to consumer loans As part of a broader legislative package reacting to the severe economic consequences of the Covid-19 pandemic, the German Federal parliament has adopted a bill dealing with far-reaching relief measures in contract law. Among other issues, this includes...
The Dutch prudential regulator’s measures for banks in response to COVID-19 In March, the Dutch Central Bank (DNB) announced a number of measures for banks in response to COVID-19, in large part following the approach and recommendations of the European Central Bank (ECB) and the European Banking Authority (EBA). The most...
EP suggest amendments to draft AI and IPR report As AI solutions continue to become more commonplace, what to do about IP rights for AI developments and deployments are becoming more pressing concerns.  Difficult issues are being debated by international organisations such as the World Intellectual...
A sense of déjà vu: VAT cuts as a fiscal response to the COVID-19 crisis It was reported that the UK Treasury is considering temporarily cutting VAT rates in a bid to boost consumer confidence. In doing so, it would follow in the footsteps of other European countries, such as Germany, which announced at the start of June that...