In mid-September, Ursula von der Leyen, President of the European Commission, announced an investigation into China’s financial support for its own manufacturers of new energy vehicles (“NEVs”) in the European Parliament in Strasbourg. On Wednesday, 4 October 2023, the European Commission has officially launched the anti-subsidy proceedings pursuant to Article 10 (8) of Regulation (EU) 2016/1037.
Since the beginning of 2023, there have been several notable developments in the area of competition law enforcement in the Netherlands.
Loyens & Loeff New York regularly posts ‘Snippets’ on a range of EU tax and legal topics. This is our latest Snippet on the upcoming public Country-by-Country reporting (“Public CbCR”) obligations in Europe.
Dinsdag 19 september 2023 was het weer Prinsjesdag: traditiegetrouw de meest belangrijke fiscale dag van het jaar. De Hoeden, De Troonrede, en: Het Koffertje! Het demissionaire Kabinet maakte zijn fiscale voorstellen voor 2024 bekend, en gaf met de publicatie van het Belastingplan 2024 en de perifere ‘Belastingplanstukken’ duidelijkheid over de beoogde koers.
With the rapid expansion of FDI-regulation in Europe, it is becoming increasingly essential for investors to navigate the maze of FDI-notification obligations and procedures in the European Union. AKD has closely monitored the developments in this field in the Benelux since 2020. Below you will find the AKD brochure on Regulation of Foreign Direct Investment in the Netherlands of our AKD specialists Joost Houdijk, Karst Vriesendorp and Octave Schyns.
NIS2 is an EU directive focused on achieving a high common level of cybersecurity across EU Member States. For organizations in scope of this Directive, new cybersecurity requirements will be imposed. With the translation into national legislation yet to be developed, there is still some unclarity on what to expect regarding the new requirements. However, organizations should start taking the first steps now, and while doing so, take into account other EU digital regulations.
On 11 July 2023, the EU Commission adopted a new strategy on Web 4.0 and virtual worlds, in order “to steer the next technological transition and ensure an open, secure, trustworthy, fair and inclusive digital environment for EU citizens, businesses and public administrations.” In its “Communication on Web 4.0 and virtual worlds” the Commission states that “the EU should act now to become a major player in nascent markets related to Web 4.0 and virtual worlds”, and invites the European Parliament and the Council to endorse the strategy and work together on its implementation.
The EU Markets in Crypto-Assets Regulation (“MiCA”) was published in the Official Journal of the European Union on 9 June 2023 and entered into force on 29 June 2023. Crypto-asset service providers (“CASPs”) need to be MiCA compliant by no later than 30 December 2024. It is notable that the requirements applicable to issuers of asset-referenced tokens and e-money tokens (Title III and IV MiCA) will already enter into force six months earlier, on 30 June 2024. In addition, Member States may apply transitional periods of no longer than 18 months, starting on 30 December 2024. These transitional periods will postpone the applicability of the licence requirement. The Dutch Minister of Finance is considering a reduced transitional period of 6 months, resulting in a final compliance date for Dutch CASPs of 1 July 2025.