Domestic Rules on Transfer Pricing and Latest Developments about Country by Country Reporting Guidelines
22 May 2019Introduction – The Italian Ministry of Finance on 21 February 2018 released draft rules under a framework for implementing the base erosion and profit shifting (BEPS) Actions 8-10 that include transfer pricing guidelines.
Belgium introduced new leg legislation to tackle abuses of power between companies.
On 21 March 2019, Belgian parliament adopted the "Law amending the Economic Law Code with regard to the abuse of a dominant position".
On 21 March 2019, Belgian parliament adopted the "Law amending the Economic Law Code with regard to the abuse of a dominant position".
Rebus sic Stantibus or Pacta sunt Servanda
22 May 2019“Rebus sic stantibus” and “Pacta sunt servanda” are two Latin aphorisms that are very present in today’s legal world. The prior one is translated as “things thus standing.” Legally, it implies that the stipulations of the contracts can be modified in the event of substantial alterations to the conditions and circumstances under which they were first agreed upon. And the later one, being a Brocard, meaning “agreements must be kept.” This lexicon implies that the agreements, even when conditions have changed, must be fulfilled.
Belgium takes a first step towards the legalization of the cultivation of medicinal cannabis.
On 28 March 2019, the Belgian parliament approved a bill concerning the establishment of a cannabis agency.
Introduction – The United Kingdom (UK) will (likely) leave the European Union (EU) on Friday 29 March 2019 at midnight. This is exactly two years after it notified the European Council of its intention to withdraw.