The US Bureau of Labor Statistics released its August employment statistics this morning. The numbers fell short of the 165,000 – 185,000 total non-farm job increases expected by markets. The BLS Release at 8:30 AM DST reported that “Total nonfarm payroll employment increased by 151,000 in August, and the unemployment rate remained at 4.9 percent…” noting that “employment continued to trend up in several service-providing industries.” Read the news release here.» Read More
In a decision that again pits the United States against the European Union in that ongoing battle over which entity can primarily tax international business, Margrethe Vestager, the European Union commissioner for competition, ordered Ireland on Tuesday to claw back billions from Apple over illegal tax breaks. At issue is up to 13 billion Euros (US$14.5 billion) in back taxes, which the European Commission claims are due for a 10-year period. » Read More
The Foreign Corrupt Practices Act of 1977 (15 U.S.C. § 78dd-1, et seq.), more popularly known as the “FCPA,” is a powerful tool that the U.S. Department of Justice uses to police international bribery in the business context. Under the FCPA, U.S. companies and their officers, employees, agents, or stockholders are prohibited from offering to pay, paying, promising to pay, or authorizing the payment of money or anything of value to a foreign official in order to influence any act or decision of the foreign official in his or her official capacity or to secure any other improper advantage in order to obtain or retain business. » Read More
The introduction of a Goods and Services Tax “GST” in India is quickly approaching and will have an impact on all global businesses. Our friends at Khaitan & Co., one of the oldest and largest Indian law firms, recently put out an alert on GST implications. Read their alert below and register to attend one of their webinars to learn more about the implications!» Read More
The below post is authored by Wouter Vosse, Esq. from Hamelink & Van den Tooren, a leading tax law firm in the Netherlands.
The upcoming ‘Brexit’ is the talk of the town all over Europe. Other EU countries, such as France, Ireland, Germany and the Netherlands are already competing for the business that is expected to leave the UK. The NY Times published an interesting article on the ‘battle for the British business’.» Read More