Pan-European foundation statute inches towards final vote

first_imgThe tax provisions contained in the proposal for a European Foundation Statute (EFS) have been withdrawn, following a meeting of COREPER ­– the group of EU member states’ political representatives – on 8 November.The EFS proposal, currently going through the EU legislative process, establishes a constitution for a pan-European foundation (FE) operating across borders, removing the requirement for foundations operating in different jurisdictions to set up separate legal entities in each country.It is generally supported by the European foundation sector because it would provide a single set of rules for European foundations, helping to reduce the costs and uncertainty involved in cross-border activities.It could also stimulate cross-border donations, and provide a level of transparency and accountability to individual foundations set up under its framework. 

 It would not, however, replace existing national laws, but would be optional and complementary.The tax elements in the original proposal provided for automatic equivalency between FEs and national foundations, which would have included access to tax breaks where these are available to public benefit entities in individual countries.But they have been a major stumbling block in the path towards achieving directive status, with some experts warning that the provisions threaten to halt its progress at the final hurdle.http://www.ipe.com/european-foundation-statute-may-be-in-peril-expert-warns/53706.articleThe European Foundation Centre (EFC), which advocated the case for an EFS for several years, said the recent changes would lead to “a good compromise text”, taking on board views from the foundation sector to produce an accessible and trustworthy legal tool, and also taking a pragmatic approach on issues including proportionate audit rules, disbursement practices and economic activities.However, Emmanuelle Faure, European affairs senior officer at the EFC, said: “While the withdrawal of the tax provisions is viewed as a welcome compromise by the vast majority of the member states, it may lead a few others to question the value of the revised proposal.”She added: “There is certainly no doubt in the sector. The sector is sending a strong signal to the European Commission, the EU Presidency and national ministries that it wants no further delay on the statute and urges them to adopt it by the end of 2014.”Work on producing a text that is more likely to get unanimous approval had accelerated over the summer.The decision to drop the tax provisions followed the presentation of a compromise text by the Lithuanian EU presidency to member states’ technical experts in early September.Other changes included a more restrictive approach to the formation of FEs, especially in relation to mergers; the redrafting of annual disbursement provisions; and the clarification that normal asset management is not an economic activity (which could otherwise affect the non-profit making status of foundations under the directive).The EFC is now calling on foundations throughout Europe to ask their own national government and permanent representations in Brussels to back the statute, by 31 November.http://www.efc.be/news_events/Pages/European-Foundation-Statute-Members-States-take-unanimous-stance-on-tax-issues–.aspxThe Lithuanian EU presidency will redraft the EFS proposal for review by national experts on 6 December, with the focus on the non-tax-related provisions.The final step in the process to create a regulation will be a vote by all 28 member states, which must be unanimously in favour for the proposal to become law.last_img read more

In Wheddon’s 3rd season, Orange finding early success

first_img Comments Facebook Twitter Google+ Amanda Morris has been on teams before that haven’t found the type of early-season success this team has. But to the third-year forward, this season’s success for the Syracuse women’s soccer team has been a long time coming. ‘A lot of training and hard work,’ Morris said. ‘Everyone’s just very confident in what we’re doing now. And that confidence is a big thing. It’s very important when you want to become a better team.’ After two subpar seasons under head coach Phil Wheddon, Syracuse is now starting to see the results of that training and hard work. Now riding a four-game unbeaten streak, the Orange hasn’t lost a game since falling to then-No. 4 Portland on Sept. 5 and hasn’t lost at home all season. Since its most recent loss, SU has scored nine goals in those four games and looks to be competitive in the Big East. Now sitting at 4-3-3, Syracuse is just one victory away from equaling its win total from last year, and the Big East doesn’t look quite as scary. This time last season, SU was a .500 team that had played nine matches on the road before coming home. The Orange was coming off a loss to St. Joseph’s and was preparing for what looked like a very daunting Big East schedule.AdvertisementThis is placeholder text It has taken two comeback efforts to keep the home winning streak alive. Against Colgate on Aug. 29, Brielle Heitman scored two second-half goals to carry what was then a team struggling mightily to score to a 2-1 victory. With 50 seconds left in regulation against Albany on Sept. 10, Tina Romagnuolo netted the closest soccer equivalent to a walk-off when her team was tied 2-2 in the 90th minute. ‘We have to be better,’ Wheddon said following the win over Colgate. ‘But for our players to show the resilience they did and to battle through and score … I’m very proud of them.’ The Orange now has 13 goals through 10 games this season. That equals the offensive output of all 19 games last season. ‘I think with any team, you’re comfortable being at home’ senior forward Megan Bellingham said. ‘You know the field, you know the pitch. But it’s also nice to play in front of your home crowd. And you don’t have all the traveling factors.’ For the first time since 2004, three players have scored three goals in a season. Brielle Heitman with four, Tina Romagnuolo and Bellingham. However, it took an 82nd minute ricochet, follow-up goal from Patricia Lind at Yale on Sunday to avoid a loss and preserve overtime. As a team looking to become more possession-oriented, coming from behind, especially coming from behind on the road, is not a trend SU wants to fall into. ‘While our players are disappointed with the tie, we exerted a lot of energy on Friday (against St. John’s),’ Wheddon said. ‘I’m proud of our effort and work rate on a hot day and on a turf field, which created some problems for us.’ Syracuse, which played its final non-conference game of the season against Yale, returns to action Thursday at Providence before hosting Connecticut on Sunday. Syracuse has beaten Providence three of the last four times the teams have played, and Thursday should set the tone for what will still be another challenging road schedule. Outside of a long trip to Washington, SU hasn’t had to travel much outside of New York this year. Taking advantage of an early schedule that has featured five teams in the area (Lehigh, Colgate, Albany, Binghamton and St. John’s), SU has been able to fall into a groove much earlier. If the Orange is going to win on the road in the Big East this season, junior defender Taylor Chamberlain knows it will take a shift in mindset. ‘I think it’s just going to take a lot of focus,’ Chamberlin said. ‘When you’re at home, you can sleep in your own bed. When you’re away, you have the bus. It’s just going to take focus and determination to come out hard and play the way we should be playing.’ [email protected]center_img Published on September 21, 2010 at 12:00 pmlast_img read more

Conor McGregor: Ex-UFC champion announces retirement

first_imgIreland’s former two-weight UFC champion Conor McGregor says he has “retired from the sport formally known as ‘Mixed Martial Art'”.The 30-year-old announced his decision on social media on Tuesday.”I wish all my old colleagues well going forward,” he added.McGregor’s last fight ended in defeat, when he was beaten by Khabib Nurmagomedov in October 2018 – the Russian winning the lightweight contest by a fourth-round submission.It was his first fight in the octagon in two years and the defeat was marred by a post-fight brawl which led to both fighters being fined and suspended.Since making his mixed martial arts debut in 2007, former trainee plumber McGregor established himself as one of the sport’s leading fighters. How McGregor transcended UFCMcGregor won the interim featherweight title with a knockout of Jose Aldo inside 13 seconds. While a loss on his welterweight debut to Nate Diaz ended a 15-fight winning streak, the Irishman won the rematch five months later.A victory over Eddie Alvarez for the lightweight championship saw McGregor become the sport’s first dual-weight champion.And at the peak of his powers he transcended the sport, going on to face five-weight boxing champion Floyd Mayweather in ‘The Money Fight’.That lucrative affair earned McGregor an estimated $30m (£23m), and attracted more than a million pay per view buyers in the UK and four million in the United States, with the American winning in the 10th round by technical knockout.However, McGregor’s time in mixed martial arts has also been marred by controversy. In 2018, he was ordered to have anger management training and perform five days of community service by a court in return for criminal charges being dropped after he had attacked a bus containing rival UFC fighters.Video footage appeared to show McGregor throwing a railing at a bus carrying Khabib and a number of other UFC fighters.Earlier this month McGregor was arrested in Miami for allegedly smashing a fan’s phone as they tried to take pictures of him.McGregor, who finishes with a record of 21 wins and four defeats, said: “I now join my former partners on this venture, already in retirement. Proper Pina Coladas on me fellas!”Has he really retired?This is not the first time that McGregor has announced his retirement from the sport. In April 2016, McGregor tweeted: “I have decided to retire young. Thanks for the cheese,” and was then not included on the UFC 200 card.But he quickly issued a retraction outlining that he had instead fallen out with the sport’s bosses over promotional work.In September 2018, McGregor launched an Irish whiskey brand.Following McGregor’s announcement, UFC President Dana White said: “He has the money to retire. It totally makes sense. If I was him, I would retire too.”He’s retiring from fighting, not from working. The whiskey will keep him busy and I’m sure he has other things he’s working on.” “He has been so fun to watch. He has accomplished incredible things in this sport. I am so happy for him and look forward to seeing him be as successful outside the octagon as he was in it.”However, McGregor’s latest statement arrives after an interview aired on an American television show, in which he claimed he was in negotiations with the UFC about a return to fighting in July.On The Tonight Show starring Jimmy Fallon he said rematches against Diaz and Aldo would appeal to him and he has also said he would send Mayweather’s “head into the bleachers,” if the pair were to meet again.”I’ll be here ready for him. I’ll be here ready and confident,” he said.”Next camp and I do believe it should happen, I mean, why not? Why not? If I have sparring partners in my camp that march forward, trust me when I tell you, I’ll send his head into the bleachers.” AnalysisNick Peet, MMA writer and broadcaster speaking to BBC Radio 5 LiveConor has retired before and it lasted 48 hours and we’ve seen it in the fight game many times before.It is generally a power play to come out and say that you are going to retire to make promoters and everybody in the infrastructure of the sport panic and come back to you with an extra zero to the next cheque.But the world of UFC has drastically changed. For the last 25 years it has been based around pay-per-view deals. So 10 times a year they did big pay-per-view events and for those events they needed superstars and champions. So Conor McGregor, Ronda Rousey and Brock Lesnar would fight twice a year and those events would generate the most income.However, that all changed in 2019 with UFC’s deal with ESPN+. You no longer have to pay $100 (£76) for a couple of events twice a year when McGregor fights. Instead you pay around $9 (£7) a month for your subscription. So this may be Dana White coming out and saying we no longer need our biggest stars to fight twice a year. McGregor will need the biggest pay cheque in UFC history to come back and the numbers might not work for UFC anymore.McGregor has more money than sense. He dreamt of becoming a millionaire and a UFC champion but did he ever dream of transcending the sport and becoming a global icon? Did he ever dream of generating so much from one fight? He may be better selling whiskey. It is difficult to stay hungry when you are waking up on silk sheets.last_img read more