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Europe: Post-COVID-19 Cross-border remote working: managing tax risks

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The pandemic has impacted our lives in many ways, but for many of us, one of the most affected areas has certainly been work.COVID-19...

Europe: Overview of the upcoming German Annual Tax Act 2020

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Germany has started to allow retroactive invoice corrections under certain conditions. The German legislator will clarify in the new draft law that such invoice correction will not allow the parties to re-enter VAT filing periods that have already been statute-barred or that are at least no longer subject to legal review. 

Europe: The ECJ decided on the right to deduct input VAT for an obligatory...

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A request for a preliminary ruling has been made in proceedings between a corporation and a German tax office concerning a refusal to deduct input VAT paid for carrying out works for the extension of a road belonging to a municipality. The ECJ ruled that the free of charge road development should not constitute a transaction that must be treated as a supply of goods made for consideration.

Germany: Hydrogen Update: Status Quo and Next Steps in Europe and Germany

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"As an energy source of the future, hydrogen is a central element of our efforts to tackle global warming and to foster a successful...

Global: Finding Balance – The Post-COVID Landscape for Financial Institutions

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COVID-19 represents one of the greatest ever shocks to our economies and, in consequence, to the business models of financial institutions and the way...

Germany: Planned amendments to the German Civil Code to strengthen consumer protection rights

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On November 3, the German Federal Ministry of Justice and Consumer Protection published two draft bills for the implementation of certain aspects of the Directive on digital content and services (Directive (EU) 2019/770) and the Directive on better enforcement and modernisation of consumer protection rules (Directive (EU) 2019/2161). The Directive on digital content and services must be transposed by the German legislator into national law by July 1, 2021, which in turn must be applied beginning January 1, 2022. The Directive on better enforcement and modernisation of consumer protection rules must be transposed into national law by November 8, 2021, which in turn must be applied beginning May 28, 2022. If adopted, the draft bills will amend the German Civil Code, inter alia, supplementing the requirements for distance selling contracts, introducing new rules for consumer contracts about digital content and services, and providing for new information obligations for online market places as well as amend the Introductory Act of the German Civil Code by introducing a new administrative fine for violations of certain consumer protection law obligations.

Germany: Sustainable Success: Exploring environmental, social and governance priorities for industrials through COVID-19 and...

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Industrials are being hit hard by COVID-19 disruption, but commitment to sustainability will lead the sector to recovery.Organizations have taken great leaps forward in...

International: VAT and e-Commerce transactions

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Baker McKenzie's VAT/Indirect Tax Practice presented "e-Commerce", on 28 October 2020. This was the seventh presentation in the International VAT Conference Webinar Series, a global webinar series designed for VAT specialists from all industry sectors that aims to discuss the latest developing trends and hot topics in the VAT/goods and services tax (GST) and customs arena.

Germany: Another Million Euro Fine under the GDPR in Germany – What does it...

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The Hamburg Commissioner for Data Protection and Freedom of Information ("Hamburg DPA") imposed a 35.5 million Euro fine on a global fashion company's subsidiary in Germany for violations of the GDPR. This million Euro fine is the highest fine known in Germany so far.

Global: A Guide to Regulatory Fintech Sandboxes Internationally

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Regulators around the world are responding quickly to the rapidly evolving financial technology, or fintech, landscape. As new or emerging financial products, services or...
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