News and Insights

July/August 2020, Corporate Taxation

July 10, 2020, Global Policy Watch

Understandably, much of the commentary following the release of the Supreme Court’s blockbuster decision in Trump v. Mazars USA, LLP has focused on the impact of the Court’s ruling on the long-running quest for the President’s tax returns and other financial records.  Buried in the Court’s opinion, however, is an easily overlooked aside regarding the...… ...

July 10, 2020, Inside Political Law

Understandably, much of the commentary following the release of the Supreme Court’s blockbuster decision in Trump v. Mazars USA, LLP has focused on the impact of the Court’s ruling on the long-running quest for the President’s tax returns and other financial records.  Buried in the Court’s opinion, however, is an easily overlooked aside regarding the...… ...

July 10, 2020, Covington Alert

On 6 July 2020, the UK Government announced the creation of a new UK human rights sanctions regime, which is the first independent UK sanctions regime to be established under the Sanctions and Anti-Money Laundering Act 2018 (“SAMLA 2018”).

July 9, 2020, Tax Withholding & Reporting Blog

The Families First Coronavirus Response Act (“FFCRA”) mandates employers of fewer than 500 employees provide two types of paid leave and includes two employer social security tax credits equal to the amount of paid leave that the employer is required to provide to employees related to the COVID-19 pandemic.  (See earlier coverage.)   Yesterday, in Notice...… ...

July 9, 2020, Tax Withholding & Reporting Blog

At the end of June, the European Union (“EU”) amended EU Council Directive 2011/16/EU and its cumulative amendments (referred to in the aggregate, as the Directive on Administrative Cooperation “DAC 6” or the “Directive”) to give EU Member States the option to defer imminent DAC 6 reporting deadlines by up to six months due to...… Continue Reading

July 9, 2020, Covington Alert

China has published a near-final draft of a new Export Control Law that, if enacted as drafted, would build upon China’s existing export control regulations, which are scattered across multiple laws, administrative regulations, and implementation rules, with the goal of creating a unified export control system to promote China’s commitment to nonproliferation ...

July 9, 2020, Covington Alert

On July 3, 2020, the Standing Committee of the National People’s Congress (“NPC”) of China published a second draft amendment to the Patent Law (the “Draft”) for public comment. The Draft is the first legislative development in China’s patent law since the conclusion of  Economic and Trade Agreement between the United States and China on January 15, 2020 (“Phase ...

July 9, 2020, Covington Alert

The second quarter of 2020 is the first period in which most U.S. public companies were fully confronted with challenges presented by the COVID-19 global pandemic. The SEC and its staff (the “Staff”) have recently issued a number of statements regarding disclosure considerations and updates to reporting relief that will affect various aspects of companies’ ...

July 8, 2020, Tax Withholding & Reporting Blog

New Jersey challenges its residents (and their employers) by diverging in significant and meaningful ways from Federal definitions of income.  In these ways, New Jersey shares much in common  although not all in common) with its western neighbor, Pennsylvania. Fortunately, New Jersey has entered into a reciprocal agreement with its neighbor Pennsylvania so that ...