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    Lawyer's Blogs by tag #EU

    GDPR: working with Personal data

    Published:   29.05.2019 | blog
    Tags:
    #EU#Ukraine

    With the rapid development of business on the Internet, including in Ukraine, a real legal settlement of the issues of personal data protection by preventive means and compensation damage for their violation is necessary. This issue is particularly relevant for those companies that have access to personal data of EU citizens and where the number of employees is more than 250 people (small and medium-sized enterprises are not required to keep records of data in most cases stipulated by Art. 30.5 GDPR). The main conditions for the collection, storage and distribution of personal data and the liability for violation of personal data are provided for by the Law of Ukraine “On the protection of personal data” of 01.06.2010, No. 2297-VI (Law No. 2297-VI). Also, the responsibility for violation of personal data is provided in Art. 182 of the Criminal Code of Ukraine, in Art. 188-39 of the Code of Administrative Offenses of Ukraine. On April 26, 2017, the European Court of Human Rights ruled in plaintiff’s favor for the protection of his personal data, with a reimbursement of EUR 6,000 for non-pecuniary damage, referring, inter alia, to the Convention for the Protection of...

    Regulation of Forex broker activities in the EU

    Published:   25.10.2016 |
    Tags:
    #EU#Licensing

    Obtaining permission to conduct Forex activity on the territory of EU Member States is governed by Directive 2014/65 / EC, which is also called MiFID2, since it is the new version of the Directive "On the Financial Instruments Market" 2004/39 / EC (MiFID), and is a legal basis of a single regulated market of financial instruments in the EU. This means that the rules laid down in this Directive are mandatory for the twenty-eight member countries of the EU and the three countries of the European Economic Area. First MiFID2 establishes the basic requirements for the operation of investment companies (investment companies under the Directive refers to and including financial brokers, so we will hereafter call them so) and the conditions for obtaining a permit for their activities in the EU. It is assumed that each Member State should adopt national legislation in accordance MiFID2 requirements, the provisions of which may not be more stringent than the provisions of the basic directive. However, MiFID2 also regulates the procedure of interaction of controlling the market in every European country, both among themselves and with the European specialized authorities (ESMA - the European...

    The EU continues to fight against tax evasion

    Published:   06.09.2016 | Без категории
    Tags:
    #EU#Taxation

    July 12, 2016 the Council of the European Union adopted Directive №2016 / 1164 against tax evasion (hereinafter - the Directive), which entered into force on 8 August 2016. This Directive is one of the components of the package of measures which was proposed by the European Commission within the framework of the so-called Plan BEPS (Action Plan erosion of the tax base and the withdrawal of income from the tax). The main purpose of the Directive is the fight against the schemes of tax evasion, which are used by many companies due to differences between the tax systems of the Member States of the European Union (hereinafter - EU). It should be noted that the Directive applies to all corporate tax payers in the territory of the Member States, including their subsidiaries located in third countries Next, we will focus on the basic methods of combating tax evasion: a) rules on controlled foreign companies (Controlled Foreign Company Rules - CFC). These rules allow tax authorities to charge taxes on undistributed earnings of foreign companies controlled by residents of EU countries. Thus, all EU member states will now have the authority to tax income, which was relocated to...

    European company (Societas Europaea)

    Published:   09.06.2016 | blog
    Tags:
    #EU#Licensing#Offshores

    European company (in a translation from Latin «Societas Europaea» - European societies) is a new legal form of business, which is designed to be a tool for deepening the integration processes of the European Community. The company formed (or transformed) in a form that can act throughout the European Union without a separate pass procedures of national treatment in each of them. The first draft of a European company (hereinafter - SE) was proposed in 1970. The idea was to create a concept of European company law, which was to unify all aspects of the SE, so that it can operate at a supranational level, the European Community, and not in accordance with the national law of the Member States. However, due to the need to harmonize a large number of issues, in particular the structure of organs, tax, employee participation in company management, etc., the work lasted for a long time and is difficult. The final version of the project, the replacement of the complete unified regulation, proposed a model of co-SE as a pan-European business regulation, and national regulations law. In 2001, it was decided the two main pieces of legislation the EU: Regulation on the Statute of SE...

    Preparation of the EU Law on the tax deals

    Published:   30.05.2016 |
    Tags:
    #EU#Legislation

    The European Union, which is mired in tax disputes with large multinational companies like Apple Inc. and McDonald's Corp., has announced his intention to restrain the government, who are trying to win over multinational companies by means of favorable tax benefits, enabling the latter reduce their tax liability by placing profits abroad. The European Commission, which has the right to prohibit unfair tax breaks provided by multinational companies, has announced his intention to limit the ability of EU Member States to adopt provisions that allow reducing tax burden for foreign companies. A document published by the European Commission determines how the regulator will provide support to Member States, and is a warning shot in the direction of the companies that are engaged in deducing profits, insisting that the transactions between related parties should be carried out at market prices. The document specifies that any intentions to deviate from the certain market prices should be limited and proportional. This applies to situations where it is impossible to determine a comparable transactions, for example, in matters of profits produced using sophisticated payment schemes...