IN THIS ISSUE

California Fallout: New Tax Incentives Possible For Project Developers

Senate Republicans are pressing for a long laundry list of new tax incentives to promote construction of additional power plants...

Lenders May Need To Resecure Existing Loans

The rules for perfecting a security interest in assets of a borrower are expected to change on July 1...

Opinion: Deregulation Advocates Should Support The Refund Orders In California

The Federal Energy Regulatory Commission has changed tack — perhaps because of prevailing political winds — and has now ordered refunds or “potential refunds” by independent generators in at least...

South Africa Restructures Its Power Sector

South Africa is in the process of finalizing proposals for restructuring the regulatory framework for the provision of electricity...

Nothing Is Secret Anymore - US tax authorities may have the ability to read a lot more internal tax planning memos and e-mails

The US tax authorities may have the ability to read a lot more internal tax planning memos and e-mails after a decision in February by a US appeals court in Washington...

Environmental Update

Plans by the US Environmental Protection Agency to regulate mercury and hazardous air pollutants from power plants that burn coal or oil have come under fire...

IN OTHER NEWS

UK windfall profit tax cannot be claimed as foreign tax credits in the US | Norton Rose Fulbright

UK WINDFALL PROFIT TAXES cannot be claimed as foreign tax credits in the United States, the Internal Revenue Service said...

New IRS True Lease Guidelines

NEW IRS “TRUE LEASE” GUIDELINES are at the Office of Management and Budget awaiting signoff...

Syncoal projects

Syncoal projects may get some relief in April.

Argentina

Argentina will start collecting a new financial transactions tax on April 3.

Brazil may have to refund money after financial transactions tax declared unconstitutional | Norton Rose Fulbright

BRAZIL may have to refund money after its financial transactions tax was declared unconstitutional. Brazil collects a “CPMF” tax on any movement of money in the Brazilian financial system...

WASTE FUELS receive more scrutiny

WASTE FUELS receive more scrutiny. Power plants that use waste fuels qualify for faster depreciation and can be financed partly with tax-exempt bonds...

New Rules on R&D Tax Credits

New rules on R&D tax credits have been put on hold.

Foreign Acquisitions

Foreign acquisitions may bring hidden taxable income.

Mexico

Mexico delayed an increase in the withholding tax charged on interest paid to foreign banks.

Vietnam

Vietnam is the most corrupt country in South Asia and the Far East, according to a survey of businessmen by the Political & Economic Risk Consultancy, Ltd. in Hong Kong.

ITCs were denied to a utility | Norton Rose Fulbright

INVESTMENT TAX CREDITS were denied to a utility. Commonwealth Energy System in Massachusetts lost a bid for investment tax credits on spending in the late 1980’s to upgrade a power plant...

IRS is under fire from taxpayers who charge that it is violating a moratorium by cracking down on a tax planning technique | Norton Rose Fulbright

BRIEFLY NOTED: The IRS is under fire from taxpayers who charge that it is violating a moratorium by cracking down on a tax planning technique that some US companies used to defer US taxes on gain ...