Project Finance NewsWire

March 2000


Utilities Keep Tax Benefits In Asset Divestitures

The Internal Revenue Service said in a private letter ruling recently that utilities must be allowed to retain balances in certain tax accounts kept for regulatory purposes when they divest themselves of assets

Turkish Arbitration Issue Resolved

The Turkish parliament passed implementing legislation at the end of January that allows international arbitration in most contracts for public services...

Peru Launches Ambitious Plan To Privatize Assets

Peru’s privatization program for this year is underway and it includes some high-profile concessions, most notably the Camisea gas project, Lima’s international airport and possibly the Callao sea...

IRS Moves Against “Tax Products”

Corporations will be required to attach forms to their US tax returns disclosing details about transactions that the US authorities will probably want to examine on audit under new rules issued by...



Bulgaria reduced its corporate tax rate by 2% effective January 1.


China is expected to drop special tax incentives for foreign investment when it is admitted into the World Trade Organization.


Florida is debating whether to drop a tax on debt instruments and other intangibles.