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|US Loses WTO Battle Over Country-of-Origin Labeling Requirements for Meat Products|
Duane W. Layton, Kelsey M. Rule, Paulette Vander Schueren; Mayer Brown LLP;
October 28, 2014, previously published on October 23, 2014A World Trade Organization (“WTO”) panel has ruled that the United States’ amended country-of-origin labeling (“COOL”) requirements for beef and pork products not only fell short of bringing it into compliance with prior rulings but, in fact, worsened the United...
|First-Ever Class Action Filed in France|
Ozan Akyurek, Clemence de Perthuis; Jones Day;
October 27, 2014, previously published on October 2014On October 1, 2014, the French accredited consumer association UFC-Que Choisir filed the first class action (action de groupe) in France. This action was filed against FONCIA, a company specialized in residential property management and real estate services, on the same day class action lawsuits...
|Fourth Protocol to Canada-UK Treaty Eliminates Withholding Tax on Arm’s Length Interest, but Preserves Tax Exemption for Gains on Disposition of Shares and Interests Deriving Value from Canadian Real Property|
Elaine Buzzell, Nigel P.J. Johnston; McCarthy Tétrault LLP;
October 22, 2014, previously published on October 15, 2014On July 21, 2014, the governments of Canada and the United Kingdom signed the fourth protocol (Protocol) amending the Convention between the Government of Canada and the Government of the United Kingdom of Great Britain and Northern Ireland for the Avoidance of Double Taxation and the Prevention of...
|BEPS 2014 Deliverables - OECD Releases First Set of Recommendations|
TJ Kang, Brian O'Neill; McCarthy Tétrault LLP;
October 22, 2014, previously published on October 15, 2014Canada and other members of the Organisation for Economic Co-operation and Development (OECD) and the G-20 are engaged in a project to address “base erosion and profit shifting” (BEPS) strategies used by multinational enterprises (MNEs) and are working to achieve the goals set out in...
|Puerto Rico—Although Puerto Rico is an Unincorporated Territory of the United States Rather than a Sovereign, the Financial Troubles of the Beleaguered Caribbean Commonwealth Have Received a Great Deal of Attention Lately.|
Mark G. Douglas; Jones Day;
October 16, 2014, previously published on September/October 2014On June 28, 2014, Puerto Rican governor Alejandro García Padilla gave his imprimatur to legislation that creates a judicial debt relief process for certain public corporations, including the Puerto Rico Electric Power Authority (PREPA), the Puerto Rico Aqueduct and Sewer Authority (PRASA),...
|MTC Meets With Economic Firms to Continue Its Transfer Pricing Effort|
Michele Borens, Jonathan A. Feldman, Jeffrey A. Friedman, Todd A. Lard, Carley A. Roberts; Sutherland Asbill & Brennan LLP;
October 9, 2014, previously published on October 6, 2014On October 6, the Multistate Tax Commission Arm’s-Length Adjustment Service Advisory Group (the “Group”) met in Atlanta, Georgia, to continue its foray into transfer pricing audits. The Group first met in June and has met several times to discuss how—and to what...
|Who’s a “Foreign Official”? Supreme Court Could Clarify Key FCPA Term|
Fatema K. Merchant; Sheppard, Mullin, Richter & Hampton LLP;
October 9, 2014, previously published on September 18, 2014On August 14, 2014, Joel Esquenazi and Carlos Rodriguez filed a Petition for a writ of certiorari in the U.S. Supreme Court seeking clarification of a key term in the Foreign Corrupt Practices Act. Among other arguments, Esquenazi and Rodriguez (the “Petitioners”) state that the FCPA...
|U.S. Regulations Can Raise Risks for Reshoring and Next-Generation Manufacturing|
Gregory Husisian; Foley & Lardner LLP;
October 3, 2014, previously published on October 1, 2014More than a third of United States businesses are either bringing back or considering bringing back manufacturing activity to the U.S. through “reshoring.” Although one would think that bringing production back to the U.S. would minimize the impact of U.S. regulations of international...
|Lessons from GlaxoSmithKline’s Record $492 Million Bribery Fine in China|
Graham Erion, Weiguo (William) He, Matthew A. Kersten; Davis LLP;
September 25, 2014, previously published on September 23, 2014On September 19, 2014, pharmaceutical giant GlaxoSmithKline plc (GSK) announced that its Chinese subsidiary had been found guilty of bribing health officials in the country and was forced to swallow a 3 billion yuan ($492 million CDN) penalty, the largest corporate fine in China’s history....
|EU Strengthens Economic Sanctions Against Russia|
Curtis M. Dombek, Neil Ray; Sheppard, Mullin, Richter & Hampton LLP;
September 24, 2014, previously published on September 18, 2014The European Union (EU) put into effect on Friday (September 12, 2014) a new round of economic sanctions against Russia over its role in Ukraine. The new measures include further restrictions on (i) dual-use goods and technology to specified entities; (ii) the provision of services in relation to...