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CMA launches initial review of AI foundation models In a bid to showcase its proactivity regarding the rising adoption of AI, the UK Competition and Markets Authority has recently announced that it would start examining the impact of AI foundation models (including large language models and generative AI) ... Incompatibility of French non-resident capital gains tax with free of movement of capital confirmed for the past and potentially for the future! In a decision dated 20 October 2020, previously covered on this blog, the Administrative Court of Appeal of Versailles had ruled that the French capital gains tax applicable to non-French resident corporate sellers on the transfer of a significant shareho... The French Administrative Supreme Court provides clarifications on the French CFC regime in a non-EU context In a decision dated 25 April 2022, the French Administrative Supreme Court has provided useful clarifications on the French CFC regime (art. 209 B of the FTC) in a non-EU context. Although it relates to the French CFC regime in its version applicable in 2... Stamp duty reform proposal published on Tax Administration and Maintenance Day It has become a bit of a tradition that a fiscal statement is followed by a further day of tax-related announcements and publications. The tax administration and maintenance day following the Spring Budget 2023 took place on 27 April 2023 – just in time t... Bizkaia, a first mover in Spain’s film industry, provides a tax incentive of up to 70% for foreign and domestic audio-visual productions As mentioned in a previous post, the three historical territories of the Basque Country in Spain (as well as Navarre) have their own tax status and tax sovereignty, which entitles them to pass their own tax legislation. Bizkaia has approved a new tax fram... In for a penny: Data protection and privacy implications of the Bank of England’s digital pound proposals February this year saw the Bank of England and HM Treasury declare that it is “likely” that a digital pound will be issued in future and used by households and businesses for everyday transactions. We discussed the joint consultation paper’s proposed ‘pla... Fixated but no fixation as High Court finds copyright does not subsist in Bitcoin file format As the world continues to be fixated with cryptocurrencies like Bitcoin, the High Court has recently found that copyright does not subsist in the Bitcoin file format due to a lack of fixation. Background The first Claimant, Dr Wright, claims to be the cre... Investing in Generative AI Public interest in generative AI has reached a fever pitch since the release of GPT-4, the latest edition of OpenAI’s large language model, or LLM. Meanwhile, investors have over the past year been allocating an unprecedented amount of capital into AI and... Another change of tack: can a new code crack the TDM riddle? As part of the continuing debate on how best to balance the rights of AI developers and IP rights holders in the context of text and data mining (“TDM”), the UK Government has recently announced that the UK IPO will be producing a new code of practice in ... UK’s plans for AI Regulation published on day Elon Musk calls for pause in AI development On the day that Elon Musk and over 1000 AI experts called for a pause in the “out-of-control race” to develop ever more powerful AI, the UK Government published its long awaited “Pro-innovation approach to AI regulation” white paper (29 March 2023). The U...