Avocado Roundup is a quick morning review of top tax, legal, and climate news stories. It’s written by humans.
- The new head of French business federation MEDEF, Patrick Martin, urged the government to follow through on its commitment to eliminate a key tax on production, calling tax uncertainty “the enemy of business.” Earlier this year, the 2023 budget law halved the cotisation sur la valeur ajoutee des entreprises, which is known by its French acronym, CVAE. The tax was slated to be eliminated entirely in 2024, but the government suggested recently that budget shortfalls could force it to delay that cut. (Le Figaro) (Les Echos)
- With Martin and MEDEF business leaders gathered Monday at the Longchamp hippodrome in Paris’s Bois de Boulogne for their annual meet, Economy Minister Bruno LeMaire in an interview tried to reassure them that the Macron government intends to keep its promises to ease their tax burden. However, Le Maire said eliminating the CVAE completely will take longer than initially planned. (Reuters via Boursier.com)
- The French government is backing off a plan to raise taxes on wine, in the face of a protest by wine producers. (L’Independant) But it’s reportedly looking for other tax increases to close its big budget gap. (FranceTVInfo)
- The US Internal Revenue Service and Treasury Department last week proposed new rules for reporting sales of digital assets. (Law 360)
- Cohen & Gresser attorneys for Sam-Bankman Fried protested after they said US prosecutors “dumped’ over four million additional discovery documents on them, less than six weeks before the former chief executive of cryptocurrency exchange FTX is set to go on trial for fraud. (CryptoSlate)
- Latham & Watkins mergers & acquisitions and private equity partner Stefan Widder is reportedly leaving the firm after over 20 years to join German firm Gleiss Lutz in September in the city of Hamburg. (Juve.de)
