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NIS rules: does your cloud provider need to notify post Brexit? The UK Government’s recent Brexit notice update regarding digital services, published on 16th October, reminds organisations that from 1 January 2021 changes are required to the way certain service providers operate in the UK and EU. Customers procuring...
Relief for British Airways, but not for businesses facing fines in the future On Friday 16th October, the Information Commissioner’s Office (ICO) announced its long awaited fine of British Airways plc (BA) for breach of the GDPR following a cyber-attack in 2018. The final fine of £20 million is the second and largest fine issued by...
Voluntary disclosure of “hidden” PE in Italy: it’s time for rejuvenation Three years after entering into force, the time has come to assess the effectiveness of the voluntary disclosure procedure for hidden permanent establishments in Italy (VDPE) for both income tax and VAT purposes. The VDPE entails assessing whether a...
EPO and IEA join forces to shed light on trends in sustainable energy technologies The European Patent Office (EPO) and the International Energy Agency (IEA) have announced the signing of a Memorandum of Understanding (MOU) with the aim of promoting innovation in sustainable energy technologies. In particular, the organisations will...
International tax reform – winners and losers The OECD's Impact Assessment presents its international tax reform proposal as the least worse-case scenario rather than a significant improvement on what we already have. The proposal is based around two pillars: Pillar One seeks to re-allocate taxing...
Pillar Two: Is the cure worse than the disease? During OECD Tax Talks #17, Pascal Saint-Amans presented the Pillar One and Two Blueprints as a glass half-empty because no consensus has yet been reached, and a glass half-full because each “Blueprint nevertheless provides a solid foundation for a future...
Changes to Spanish VAT regulations anticipated According to the latest news, it appears that, following a report from the Spanish Independent Fiscal Accountability Authority (Airef) on tax incentives, the Spanish Government is considering the possibility of eliminating the VAT exemption for private...
FSB pronounces on regulation of stablecoins On Monday the Financial Stability Board (FSB) published its final report and high level recommendations on the regulation, supervision and oversight of "global stablecoin" (GSC) arrangements. The report considers that the emergence of GSCs may challenge...
Brexit preparedness check: customs and trade in goods The transition period ends in less than three months on 31 December 2020 and negotiations between the UK and the EU on their future relationship remain unconcluded. In respect of the movement of goods between the UK and the EU (and even within the UK,...
AI and the fight for inventorship – DABUS patent knocked out in UK High Court The UK High Court is the latest authority in the ring to referee Dr Stephen Thaler’s endeavour to have his artificial intelligence, creativity machine – DABUS or Device for the Autonomous Bootstrapping of Unified Sentience – recognised as an inventor of...