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In Europe

Europe: Brexit – Three key changes to UK VAT from 1 January 2021

by , and 13 Mins Read

On 1 January 2021, the UK left the EU VAT regime. Although the UK has retained a VAT system, it now operates on the basis that it is a third country (with the exception of goods supplied to and from Northern Ireland (“NI”), which continue to be treated as intra-EU trade for VAT purposes).

The UK Government’s agreement of the Trade and Co-operation Agreement with the EU does not change the VAT position. The TCA contains minimal provisions relating to VAT and with the exception of NI trade in goods, the UK is in most respects expected to be treated as any other third country for VAT purposes.

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In Employment

Spain: Brexit – Labor and immigration measures conditioned on reciprocity and until the United Kingdom and the EU reach agreements

by and 5 Mins Read

The Agreement for the United Kingdom to Withdraw from the European Union established a transitional period from the time the agreement entered into force until 31 December 2020, during which time European Union (EU) law continued to be applicable. Upon the termination of the transitional period, the United Kingdom is no longer treated as an EU member state and it is therefore considered a third-party country.

In this regard, by passing Royal Decree-Law 38/2020 (RDL 38/2020) of 29 December, Spain’s government has established measures to adapt the Spanish legal system to some of the consequences of the United Kingdom’s withdrawal from the EU and to provide clarity. This alert addresses the measures that are related to labor and immigration matters.

In Antitrust / Competition

Spain: Royal decree-law published to implement the Spanish Plan post-COVID-19

by , , and 5 Mins Read

Royal Decree-Law 36/2020 of 30 December 2020, establishing urgent measures to modernize the public administration and implement the government’s recovery, transformation and resilience plan (“RDL of Modernization”) was published on the last day of 2020 and entered into force on 1 January 2021.

In Environment

Spain: Farmaindustria publishes its new Code of Good Practice for the Pharmaceutical Industry

by 5 Mins Read

Last October the Spanish association of pharmaceutical companies “Farmaindustria” approved its new Code of Good Practice for the Pharmaceutical Industry, which replaces and repeals the previous edition of October 2016. The new Code will come into force as of 1 January, 2021. The new Code of Good Practice introduces a number of important new features. As for the text of the Code, the following changes are noteworthy:

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In Environment

Spain: New regulation on observational studies with medicinal products for human use

by 4 Mins Read

On 26 November 2020, the Spanish Official State Bulletin published the Royal Decree 957/2020, of 3 November, regulating observational studies with medicinal products for human use, which will come into effect on 2 January 2021. This royal decree intends to ease the administrative procedures applicable to observational studies in light of recently adopted instruments at EU level (with the European Medicines Agency-approved guidance on post-authorization efficacy studies) and Spanish level (with the enactment of Royal Decree 1090/2015 on clinical trials with medicinal products, which introduced the legal concept of observational study). Observational studies are an essential tool to gather personal health data on conditions for use, safety and effectiveness of medicinal products, and to ultimately enhance clinical practice in the interest of patients.

In Europe

Spain: Transposition of DAC 6

by and 4 Mins Read

Spain has published the Law transposing Directive DAC 6, which will come into force on 31 December. However, in line with EU legislation, it provides for a transitional regime for arrangements for which the first stage of implementation took place between 25 June 2018 and 30 June 2020. In addition, it also applies to cross-border arrangements that have been subject to the obligation (not just to implementation) from 1 July 2020.

Implementing legislation is yet to be published, but it is expected soon, when a number of administrative reports on these rules are finalized.

In Europe

Spain: Spanish regulator issues new regulation on advertising of investment products and services

by 4 Mins Read

The recent publication of Circular 2/2020, of the National Securities Market Commission (“CNMV”) on the advertising of investment products and services (“Circular 2/2020”) on November 13, 2020 includes new  rules in terms of advertising of investment products, adding clarifications that go beyond the MiFID package. These new rules affect not only Spanish entities but also foreign financial institutions providing services in Spain under freedom to provide services or right of establishment, including branches and agents.

In Europe

International: VAT and e-Commerce transactions

by , , and 1 Min Read

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.

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