The Public Court of Lazio Region cancelled the € 70 million aggregate penalties issued by the Italian gambling regulator, AAMS, against ten Italian videolottery concessionaires, but such decision might have a much higher value.
Is this…
Top 5 outsourcing issues - #4 forum selection and applicable law clause
Implications of forum selection and applicable law clauses are often underestimated, but they become a major issue when outsourcing agreements have to be enforced. After having discussed about liability, termination and SLAs and penalty…
The approval of the technical requirements applicable to digital signatures represent a major innovation that might ease the execution of international contracts and create opportunities for providers.
Digital signature devices…
ICC releases revised International Code of Direct Selling
Since 1937, when the first Code of Advertising Practice was issued, ICC has produced, and successively revised, global sets of ethical rules, covering all main marketing disciplines. The ICC Code of Direct Selling forms part of that…
UNCITRAL publishes its endorsement of the UNIDROIT Principles of International Commercial Contracts 2010
The United Nations Commission on International Trade Law (UNCITRAL) has published the Report on its forty-fifth session (25 June – 6 July 2012) at which it decided to endorse the UNIDROIT Principles of International Commercial Contracts…
Where a Member State grants national companies the right to convert, the same right must also be granted to companies incorporated in another Member State
Hungarian law authorises Hungarian companies to convert, but does not allow a company governed by the law of another Member State to convert to a Hungarian company.
US Tax Administration Issued Final Regulations on FATCA Implementing International Tax Reporting and Compliance
On January 17, 2013 the IRS issued final regulations providing rules on information reporting by foreign financial institutions (FFIs) and withholding on certain payments to FFIs and other foreign entities.
Under the Foreign Account Tax…
Reciprocal Inter Governmental Agreement Will Introduce Automatic and Reciprocal US-Italy Disclosure and Exchange of Information For Tax Purpose
The Foreign Account Tax Compliance Act (FATCA) was enacted by the United States Congress in March 2010 and became effective on January 1, 2013. It is intended to assist US efforts to improve international compliance with US tax…
Italian International Tax Reporting Rules Through Part RW of Italian Tax Return
Italian resident taxpayers are required to report to the Italian tax administration their foreign financial investments and assets, which can generate foreign-source income subject to tax in Italy. They report their foreign investments by…