Our tax professionals have authored an insightful article titled “An Overview of the EU Public Country-by-Country Reporting Rules (CbCR )”, published in The Professional Journal of Tax Executives Institute. This article provides an overview of the background, scope, and impact of the public CbCR rules concerning US MNE groups, followed by a summary and key takeaways.
Investment in the defence, security and resilience sector is booming. Last year, investment reached US$5.2 billion in Europe (up 30% in two years), with European defence VC investment into the sector accounting for 10% of all VC funding across Europe. Whilst Europe has historically lagged behind the US in terms of investment into the defence sector, Europe is now catching up – in part due to the significant increase in public funding which has been announced since the Munich Defence Conference in February 2025.
Carve-outs – meaning the spin-off and possible sale of a part of a company – are becoming increasingly important in the aerospace and defence (A&D) sector. Established aerospace and defence companies are faced with the question of how they can optimise their portfolio and focus on core areas. Investors (such as private equity firms or industrial groups) are also increasingly interested in spun-off divisions from corporate groups. In our three-part specialist article, we highlight the typical legal and practical challenges that arise in carve-out transactions in the A&D sector. The focus is on regulatory hurdles and strategic success factors that are decisive for the successful preparation and implementation of such transactions.
Following our earlier newsflash on the European Commission indicating that it might withdraw the Green Claims Directive, recent developments show that the proposal is still formally in place. Although the final round of negotiations has been cancelled and political uncertainty persists, the European Commission has reiterated its commitment to the EU’s sustainability and consumer protection agenda.
Ensuring our freedom, stability, and values requires collaboration at all levels. A Whole-of-Society approach offers a collective strategy where public and private parties work together to mitigate risks and build a resilient future perspective. Inspiring examples, such as Finland’s model of cooperation and strategic resilience, demonstrate how joint action can strengthen our society.
Since our last forecast was published in March, we have continued to see a relatively rapid change in economic policies. We recognize that the policy environment remains very fluid, so none of our scenario forecasts are meant to be a precise estimate of where the US economy ends up in the future. Instead, we have developed three scenarios to provide a guide as to where the economy might go from here based on explicit assumptions. Our baseline forecast incorporates assumptions that reflect our best guess of how different economic policies will evolve. Our downside and upside scenarios reflect plausible outcomes for the US economy should our assumptions prove to be overly optimistic or pessimistic, respectively.1
On 17 June 2025, the European Commission published its proposal for a Directive to “promote the development of a competitive and innovative European defence industry”. The proposed Directive amends Directive 2009/43/EC on intra-EU transfers of defence-related products and Directive 2009/81/EC on security and defence procurement. In this blog, we discuss the key aspects of the proposal and their possible consequences for businesses and procuring entities.
US fund managers (USFM) who raise capital in the EU are impacted by the EU General Data Protection Regulation (GDPR). GDPR triggers obligations that vest with the USFM and their (EU and non-EU) fund entities that are offered in the EU.
To stay compliant with the OECD Transfer Pricing [‘TP’] Guidelines 2022, multinational companies involved in cross-border transactions between related entities must document their adherence to the arm’s length principle. This ensures that the prices charged between related parties align with what independent companies would agree upon in comparable circumstances.