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PSD2, new legislation for innovative payment services

PSD2, new legislation for innovative payment services

Introduction Payment Services Directive 2 (Directive 2015/2366/EU; PSD2) is the revised European payment services directive. PSD2 is intended to modernise the statutory framework, improve payment traffic within Europe, and create space for new and innovative parties entering the market that can contribute to a more effective and transparent manner of ... Read More »

Ruling from the European Court of Justice: per element approach allowed outside tax entity in cross-border situations with the EU

Ruling from the European Court of Justice: per element approach allowed outside tax entity in cross-border situations with the EU

The European Court of Justice (“ECJ”) rendered a ruling on 22 February 2018 concerning the Dutch tax concept of “tax entity”. It concerned the application of Section 10a of the Corporation Tax Act 1969 (“Vpb”) in relation to the freedom of establishment that applies in EU law. What is the ... Read More »

New European Insolvency Regulation

New European Insolvency Regulation

The new European Insolvency Regulation increases the chances for companies to avoid insolvency through restructuring using an autonomous approach. Innovations are available for SMEs as well as for corporations. In the European judicial system, insolvency proceedings have been coordinated and regulated based on the European Insolvency Regulation since 2002. Once ... Read More »

Compliance advisors: economical & safe for SMEs

Compliance advisors: economical & safe for SMEs

Compliance is also becoming increasingly important for SMEs. The position of the external compliance officer is a good way to make your own company compliant. It provides a flexible and economically viable alternative, especially for suppliers and exporting companies Criminal records, cartels, breach of trust, corruption, problems with security and ... Read More »

Penalty fees in the UAE

Penalty fees in the UAE

The UAE’s Ministry of Economy enforces existing statutory dual licensing of non-independent branch offices. Contrary to the existing 20-year administrative practice of the Department of Economic Development (DED) in Dubai, companies now face penalties. Until recently, it was possible to license and operate non-independent branch offices of companies located in ... Read More »

Extension of the period of notice in the probation period

Extension of the period of notice in the probation period

Reference to collective bargaining agreements is widespread practice. Caution is advised, however, if contradictions to the contents of additional provisions of the employment contract appear. The Case In his employment contract, the employer made reference to the provisions of the collective bargaining agreement. Accordingly, the first six months of the ... Read More »

From Dusk till Dawn

From Dusk till Dawn

In case of collective dismissals, companies are required to undergo a consultation process with the works council. The process is complicated, full of formal requirements and prone to errors. The Federal Labor Court has now provided important clarification concerning the length and substance of the consultation. The work of those ... Read More »

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