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New taxes on non-Spanish-tax-resident individuals who indirectly hold Spanish real estate The Spanish Government recently published a proposal to tax non-Spanish-tax-resident individuals who hold Spanish real estate through one or multiple non-Spanish-resident entities under Spain’s Net Wealth Tax (NWT). The proposal also calls for a Solidarit... ICO warns immature biometric technologies could discriminate, and organisations may be investigated The ICO has warned organisations to carefully assess the risks if considering using emotion analysis technologies as they will be investigated if they fail to act responsibly, posing risks to vulnerable people, or if they fail to meet ICO expectations. Wh... The proof is in the (crypto) pudding: is Proof of Reserves a solution to crypto’s trust problem? In any normal week, reports that nearly half a billion dollars in cryptoassets had been stolen from a cryptocurrency exchange would be major news. Unfortunately for FTX, which has been having anything but a normal week, the reported hack is barely a footn... Interpreting tax treaties - Dutch Supreme Court clarifies relevance of later OECD commentaries In a previous post, Maarten van der Weijden indicated that a decision by the Amsterdam Court of Appeal on 22 December 2020 set the stage for a principled decision by the Dutch Supreme Court on how to deal with changes to provisions of the OECD model tax c... The promise and peril of scenario-driven climate risk management for banks and insurers Climate risk management is increasingly salient for boards of banks and insurers. In this publication, we outline key challenges for boards when discharging their responsibilities, given the uncertainty around the manifestation of climate risks. Although ... A capital mess? The Court of Appeal’s judgment in Centrica Overseas Holdings In what is thankfully an unusual occurrence in legal practice, I was about to press send on an email advising a client on an issue (in this case, the deductibility of expenses incurred in respect of the sale of a subsidiary), very much relying on the Uppe... Further changes to the UK's R&D tax regime Against a background of some “difficult decisions” being taken by Chancellor Jeremy Hunt in his 2022 Autumn Statement on 17 November 2022, the Treasury unveiled some further changes to the UK’s Research and Development (R&D) tax regime, signalling a move ... The ICO publishes tips on how to improve your use of AI The ICO has published new AI guidance, setting out its top tips on how to use AI and personal data appropriately and lawfully. It can improve how your organisation handles AI and personal data. It is also intended to help regulators understand how AI can ... ICO publishes new set of international data transfers guidance Today, the ICO has published a suite of new international transfers guidance, including its long awaited final guidance on ‘transfer risk assessments’ (TRA). The new guidance follows the ICO’s consultation on international data transfers during the summer... Taxing decisions in the Autumn Statement Undoubtedly, the UK’s Autumn Statement delivered by Chancellor Jeremy Hunt on 17 November 2022 reflected some difficult decisions (see the Treasury’s news story and the text of his speech). But at least the one relating to the GloBE rules under Pillar 2 m...