Another extreme penalty for insufficient personal data protection

1&1 Telecom GmbH, a German mobile service operator, was fined EUR 9.6 million for the failure to implement sufficient technical and organisational measures to protect the personal data of its customers. This is one of the highest penalties ever…

Prudential requirements for dealers in securities

In December 2019, new regulations dealing with prudential requirements for dealers in securities were published in the EU Official Journal, introducing a new categorisation of dealers in securities and rules for the remuneration of their employees,…

New rules facilitating cross-border corporate mobility within EU

Two amendments to Directive (EU) 2017/1132 of the European Parliament and of the Council of 14 June 2017 on certain aspects of company law aim to harmonise and modernise EU company law and improve the application of the freedom of establishment. The…

BEPS 2.0: Revolution in international taxation on the horizon

Following up on the Base Erosion and Profit Shifting (BEPS) initiative, the OECD Secretariat published a document containing a new proposal for a unified and global approach to the taxation of the digital economy, BEPS 2.0, introducing a new method…

Due managerial care – a new perspective?

The European Union is preparing a legal regulation aiming to put the finance sector at the forefront of efforts for a greener and cleaner economy. The new regulation will promote sustainable projects that may be loss-making over long periods with…

Better protection for whistle-blowers

The EU Council adopted a directive setting the minimum rules of protection for persons reporting corporate wrongdoings. The directive is to be transposed into Czech law by May 2021.

Starbucks can celebrate – Dutch APA issues most likely resolved

The EU General Court ruled in favour of Starbucks and the Dutch authorities and annulled the European Commission’s decision on illegal state aid provided within an advanced pricing agreement. At the same time, however, the court upheld the EC’s…

SONIA to replace LIBOR

The end of the London Interbank Offered Rate (LIBOR) is approaching, since this rate will only be used until the end of 2021. The Bank of England, the UK’s central bank, is introducing the Sterling Overnight Index Average (SONIA), as lost confidence…

American digital giants strongly object to French tax

In July, the Office of the US Trade Representative initiated an investigation into the digital tax recently introduced in France. The USA have expressed concern that the implemented tax unfairly targets mainly American digital companies. The office…

Renewable energy sources for all Europeans

The last of the eight legislative acts constituting the Winter Energy Package was published in the European Union’s Official Journal in June. Submitted by the European Commission in November 2016, the changes to EU energy legislation aiming to…

EU introduces parental leave for both partners and ten-day paternity leave

The rate of employment for women in the EU is by 11.6% lower than that of men and, moreover, a third of all EU women work only part-time. Differences in employment are much more profound for parents and other persons with care responsibilities.…

May ECOFIN: digital taxation and changes to black list

At its May 2019 session, the Economic and Financial Affairs Council approved changes to the EU black list. Ministers also exchanged opinions on the taxation of the digital economy before the upcoming debate at the G20 summit in June.