Rödl & Partner Estonia’s Post

Today the vote on the EU’s Corporate Sustainability Due Diligence Directive failed to get enough support to receive the endorsement of the Council, and was postponed yet again. The final draft of the CSDDD, released on January 30, was the result of over 2 years of negotiations, and initially appeared to head for an easy approval. But the issue has become highly politicized and has since faced a rising opposition. The negotiations have largely been held behind closed doors, so there is little insight as to the position of each member state. Today’s vote was also held behind closed doors with no official record released. The opposition has been led by Germany's liberal party, FDP, part of the three-party governing coalition, who argues the directive would burden business with excessive bureaucracy. Some member states have expressed opposition based on the ideological stances of their political leaders, while others have been put under domestic pressure. In France, for instance, the largest network of entrepreneurs, Medef, has now turned against the directive, according to Lara WOLTERS, rapporteur on CSDDD. 70% of the companies that are members of the Medef are VSEs/SMEs, and France is said to have made a last-minute effort to significantly reduce the number of impacted businesses by suggesting an increase in the size threshold from 500 to 5000 employees, effectively removing roughly 80% of businesses from the CSDDD obligations - although it does not yet reflect a formal proposal. The CSDDD is facing a ticking clock as the EU is heading for elections in June. The European Parliament must approve the directive by March 15 for it to be adopted prior to the elections. “When there’s a will, there is a way, but time is running out”, said Lara WOLTERS during today’s press conference. The recording of today's press conference is available here: https://lnkd.in/dQ4Sx3FZ

The concerns that South Korea’s Corporate Value-Up Program can't be effective without fundamental reforms to the “Chaebol” system have led shareholders to push for governance reforms and independent board representation. The Program may also present challenges for Korean companies unfamiliar with open-ended disclosure requirements. Read more about the potential repercussions of the Corporate Value-Up Program on #stewardship and #ShareholderActivism in Glass Lewis’ latest blog article: https://hubs.ly/Q02S6Tf30 #CorporateGovernance #corpgov #governance #ESG

ATOZ Tax Advisers Luxembourg has acquired Deveco Sustainability. Read more about it here: https://lnkd.in/eSqccGvG #privateequity #venturecapital #assetmanagement #alternativeinvestments #serviceproviders #taxadvisers #esg #sustainability

🌿 It's time to make sustainability more than just a buzzword - it's a core value that shapes our future. Dive into our 3in3 guide to learn how to go beyond strategy and turn it into practical change, embedding environmentally and socially responsible decision-making into the DNA of your organization's culture. Start your journey to a culture of sustainability today! 🌍  ➡️ Download now: https://go.ey.com/49kE3T2 #EY #Sustainability #CorporateCulture #3in3 

Please join us on our Global Share Plan Update Webinar where we'll discuss the latest developments affecting global share plans featured in our most recent Clients & Friends Newsletter, including: ✔ Brazil: Proposal to Reduce the Tax on Financial Transactions in Brazil and Stock Option Taxation Updates   ✔ Canada: Changes to Taxation of Stock Options and Capital Gains   ✔ China: Change in Shanghai SAFE Policy on Forced Sale Requirement, Updated SAFE Registration Form, and Potential New SAFE Reporting Requirements   ✔ Czech Republic: Tax Treatment of Stock Options Update and Social Tax Treatment Now Aligned with Income Tax Treatment   ✔ Denmark: Application of Danish Stock Option Act: Recent High Court Cases   ✔ Germany: Changes to the Application of the One-Fifth Rule for the Taxation of Equity Awards   ✔ India: Potential Offset on the Tax Collected at Source ✔ Ireland: Win for Taxpayers in Ireland's First Transfer Pricing Case   ✔ Israel: Changes in Tax Reporting (Effective 1/1/2025)   ✔ Russia / US: US-Russia Tax Treaty Suspended Register today to learn more about the impact these developments will have on your global share plans: You are Invited -- Webinar: Global Share Plan Update (October 8) -- ATTORNEY ADVERTISING (bakerxchange.com)  

Legal + Tax + ESG = A Transformative Synergy for Corporates 🌟 Exciting News from Jalubro! 🌟 We're thrilled to announce our venture into the Tax and ESG space, creating a powerful synergy alongside our established legal technology solutions. Why is this important? 🔹 Holistic Compliance: Integrate legal, tax, and ESG strategies to ensure comprehensive compliance and reduce risks. 🔹 Sustainable Growth: Drive sustainable business practices with a focus on environmental, social, and governance factors, boosting your brand’s reputation and long-term value. 🔹 Optimized Efficiency: Streamline processes and improve efficiency by unifying legal, tax, and ESG frameworks. At Jalubro, we believe in the power of synergy to transform corporate strategies. Stay tuned as we continue to innovate and lead the way in legal, tax, and ESG tech!

Read our article about ESG in M&A below!

I'm a finance guy who's passionate about the great outdoors. So it probably comes as no surprise that I found this article from Vertex Inc. partner Deloitte to be a breath of fresh air! Environmental, social and governance (ESG) goals have rightfully catapulted to the top of the corporate agenda. Tax pros can help by emphasizing tax incentives and transparency. Let's push for a more sustainable world! #Sustainability #ESG #TaxCompliance #TaxTransparency #GreatOutdoors

Why von der Leyen’s deregulation drive has Brussels confused 🇪🇺 European Commission president Ursula von der Leyen has shown a predilection for a certain kind of transport in her speeches of late: the omnibus, writes Alice Hancock. 😡 Investors are not happy "Context: A key plank of von der Leyen’s agenda for her second five-year term is the simplification of rules and cutting reporting requirements for businesses. These are a result, in large part, of the sustainability agenda she put in place during her previous mandate. The push comes in response to businesses halting investment as they struggle to cope with the paperwork, on top of high energy prices and competition from Chinese rivals. The problem is that nobody else in the commission seems to know what she’s talking about. Von der Leyen first revealed her plan for an “omnibus” regulation that would drive a coach and horses through the administrative burden at a press conference in Budapest in October, stating that in “one proposal” you could cut bureaucracy out of many previously agreed laws. “Measure us at our words, we will come for example with a so-called omnibus,” she told reporters, adding that it would reduce onerous paperwork “in one step”. Legislation in her sights includes critical parts of the EU’s sustainable finance policy, including new rules requiring companies to take action for environmental and human rights abuses in their supply chains, and the bloc’s landmark taxonomy, designed to guide finance to green investments. The omnibus rolled by again in a speech to the European parliament yesterday, with von der Leyen telling EU lawmakers that it would be “one of the first steps in the new mandate”. The mystery is the size, shape and colour of this omnibus. Senior commission officials have expressed surprise at the driver’s repeated omnibus references. One suggested that the idea of new legislation to cut legislation was more style than substance. “It’s an evolving story, it seems,” another EU official said. A commission spokesperson said that the commission would “present significant measures to reduce burdens”. Investors are not happy with the apparent direction of travel, however. Aleksandra Palinska, executive director of Eurosif - The European Sustainable Investment Forum, the sustainable finance association, said that cutting reporting requirements before they had “even been properly implemented . . . will neither be helpful to investors, who need the data, nor to those reporting companies that have already started preparing for the compliance”. Traffic jams ahead." https://lnkd.in/deE5i_KU

Get ready for the Pillar Two tax system and its impact on global taxation. Find out how reliable data is crucial for accurate calculations and engaging in conversations about your company's tax approach. Find out more in PwC UK's research. #PillarTwo #GlobalTaxation #ConnectedTaxCompliance