Capital markets financing is less expensive and more flexible than bank finance...

The London City Airport financing last fall was the first use of “whole business” securitization to finance a project in the United Kingdom. The transaction structure is shown on the next page...

The US Congress is edging closer to action against corporations that engage in aggressive tax planning. The Senate Finance Committee released a draft bill for comment in late May...

The Organization for Economic Cooperation and Development, or OECD, published a list of 35 tax havens at the end of June...

Recent changes in law should revive interest in the Netherlands Antilles as a place to put offshore holding companies...

Foreign companies may be unable to raise debt or equity in the US capital markets if they have violated US trade sanctions against third countries...

A GROUP OF UTILITIES IS PRESSING CONGRESS TO ALLOW FASTER TAX DEPRECIATION for generating equipment...

India increased the effective tax rate on earnings from Indian projects from 45.27% to 52.03%.

FIVE MAURITIUS COMPANIES received notices from the Indian tax authorities in March asserting the companies do not qualify for benefits under the India-Mauritius tax treaty...

Bulgaria unilaterally revoked its tax treaty with Cyprus after discovering that most investment into Bulgaria was being run through Cyprus to avoid withholding taxes.

TAX LAWYERS DISCUSSED STRATEGIES FOR STRIPPING FOREIGN TAX CREDITS at the American Bar Association meeting in May...

IRS INDECISION COULD MAKE IT MORE EXPENSIVE TO INTERCONNECT MERCHANT PLANTS to utility grids...

HOLLAND announced that it will no longer issue tax rulings on hybrid instruments or entities...

SAUDI ARABIA cut taxes on foreign investors, but details of the reforms have been slow to emerge. The reforms may not be as generous as first thought...

SECTION 29 TAX CREDITS were adjusted downward April 1 after the US government revamped its inflation index. The section 29 credit is a credit for investing in alternative fuels projects...

BIOMASS GROUPS are lining up behind a bill that Senators Trent Lott (R.-Miss.) and Frank Murkowski (R...

The Colombian government proposed reducing the corporate tax rate from 35% to 32%.

INCENTIVES TO BURN LOCAL COAL came under fire...

WATER UTILITIES are lobbying Congress for legislation to clarify that the utilities do not have to report customer connection fees as income...

FOREIGN SALES CORPORATIONS, or FSCs, remain under fire. The European Union rejected a US proposal to allow foreign companies to claim FSC benefits provided they subject themselves to US taxation...

The Czech Republic is offering 10-year tax holidays for investments in new projects and five years of partial corporate tax relief for expansions of existing facilities.

The IRS is studying the tax treatment of certain partner conversions.

COMMONWEALTH ENERGY is arguing that improvements it made in the late 1980’s to a 1960-era power plant qualified for investment tax credits on grounds that it had to make the improvements to perfor...

MINOR MEMOS. The IRS business plan this year calls for rewriting so-called “true-lease guidelines” that the agency has used since 1975 . . . ...