While the primary goal of the AI Act is to regulate high-risk AI systems and ensure their safe operation within the EU, it is imperative to understand the entire spectrum of AI systems. The proposed risk-based …
The AI Act, or the Artificial Intelligence Act, focuses primarily on the category of high-risk AI systems, as their inadequate use could endanger health, safety, or human rights. All three legislative bodies of…
Legislative processes within the European Union may seem complex not only in terms of their form but also in terms of their timeframe. This is also true for the Artificial Intelligence Act (AI Act). To provide …
The European Financial Reporting Advisory Group (EFRAG) updated its report showing the status of endorsement of each IFRS, including standards, interpretations, and amendments, most recently on 2 June 2023.
In the UK, the Netherlands, Guernsey, Jersey and the Isle of Man, the legislative processes related to Pillar Two of the OECD’s international tax reform continue. The Canton of Geneva will replace the municipal…
The EU Administrative Commission has approved a new framework agreement on social security coordination, which will come into force on 1 July 2023. The agreement responds to the changing labour market, in parti…
The EU’s Carbon Border Adjustment Mechanism (CBAM) is a landmark tool to put a fair price on the carbon emitted during the production of carbon intensive goods entering the EU, and to encourage cleaner industri…
The European Financial Reporting Advisory Group (EFRAG) updated its report showing the status of endorsement of each IFRS, including standards, interpretations, and amendments, most recently on 5 April 2023.
A new draft act on the top-up tax for the purpose of ensuring a minimum level of taxation for large-scale multinational and large-scale domestic groups (i.e. groups with consolidated annual revenues exceeding t…