Clinton proposes tax changes affecting project finance
The Clinton administration proposed a series of tax law changes in February that, if enacted, would affect project finance...
Congress considers rewards for reducing greenhouse gas emissions
The US Senate is starting work this month on legislation to reward companies that take voluntary actions to reduce greenhouse gas emissions or sequester carbon...
Mexico attracting attention from independent power plant developers | Norton Rose Fulbright
Mexico has been attracting a lot of attention from independent power plant developers recently, both in bidding on requests for proposals from the national utility, the CFE, and in pursuing inside...
Dutch green incentives offer possible financing angle
Two tax incentives for Dutch companies to make “green” investments may offer an angle for financing projects in Holland and eastern Europe...
Water projects present different risks than power
The water industry is the final major utility sector to be opened to the rigors of private competition, following in the footsteps of the telecommunications, power, and gas industries...
Power companies in the UK fear a legal minefield when they are forced to unravel “contracts for differences” | Norton Rose Fulbright
Electricity generators in the United Kingdom must sell most output into a central power pool. Distribution companies and other large wholesale purchasers of electricity buy from the pool...
China Rumors
Unconfirmed reports from China are that the government has declared a moratorium on ...
US coal companies owed tax refunds by the federal government | Norton Rose Fulbright
The government collects excise taxes of $1.10 a ton on coal from surface mines and 55¢ a ton on coal from underground mines...
Netherlands Supreme Court decision suggests a way to strip earnings from Dutch holding companies without paying a withholding tax | Norton Rose Fulbright
Holland collects a 25% withholding tax on dividends paid by Dutch companies to foreign shareholders. The tax is reduced to 5% by the US-Dutch tax treaty...
Discussions with an investment bank about a tax planning idea had to be disclosed to the IRS on audit | Norton Rose Fulbright
Goldman Sachs approached Paramount in 1989 with an idea how to generate capital losses to shelter a large gain the company had from sale of a subsidiary...
An Interesting Tax Angle
A foreign corporation contributed securities on which it had a loss to its US
subsidiary.
New York considering tax changes that would affect independent power companies doing business there | Norton Rose Fulbright
New York taxes utilities differently than other companies. Corporations “formed for or principally engaged in business of supplying ...
Gas Pipeline Companies are Battling IRS over Tax Depreciation | Norton Rose Fulbright
GAS PIPELINE COMPANIES ARE BATTLING THE IRS OVER TAX DEPRECIATION on their assets.
Lockheed Martin filed a revised policy on hiring foreign business consultants with the US SEC | Norton Rose Fulbright
Lockheed was enjoined in 1976 from violating the Foreign Corrupt Practices Act...
The IRS is Still Targeting Debt-Equity Swaps
THE IRS IS STILL TARGETING DEBT-EQUITY SWAPS involving foreign government debt.
US companies create “straddles” with adverse tax results by borrowing in a foreign currency | Norton Rose Fulbright
A “straddle” is where a company has two offsetting positions in foreign currency, a commodity or similar property. US companies use the dollar as their functional currency...
Australia Awarded A$71 Million in Tax Rebates to Four Infrastructure Projects
AUSTRALIA AWARDED A$71 MILLION IN TAX REBATES TO FOUR INFRASTRUCTURE PROJECTS, including A$32.6 million to Duke Energy for development of an 800-kilometer gas pipeline ...
Florida Said Sales Taxes do not have to be Paid
FLORIDA SAID SALES TAXES DO NOT HAVE TO BE PAID on equipment for a gas-fired power plant.
US banks can claim foreign tax credits for withholding taxes tied to loans to the Brazilian Central Bank | Norton Rose Fulbright
Riggs Bank made “net loans” to the Brazilian central bank in the 1980’s...
German lease structures under fire from the government | Norton Rose Fulbright
The government proposed a series of tax changes late last year that would take much of the juice out of the structures. German leases shift the lessor profit to lease expiration...
Capital contributions by US persons to foreign corporations and foreign partnerships must be reported to the IRS under new rules| Norton Rose Fulbright
The new rules require the following. All capital contributions to foreign corporations in which the US person owns at least a 10% interest must be reported, regardless of amount...
Briefly noted - March 1999
Lobbyists for coal interests are trying to persuade Congress to authorize approximately $1.5 billion in tax subsidies for new power plants that use clean coal technologies...