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Corporate Taxes Banking Sector

Latham & Watkins LLP

Passive Foreign Investment Companies: Reinterpreting the Active Banking Exception for the Modern Banking Industry

Latham & Watkins LLP on

The passive foreign investment company (“PFIC”) rules generally impose unfavorable tax treatment on certain U.S. shareholders of foreign corporations that generate excess passive income or hold excess passive assets. In...more

White & Case LLP

Understanding Tax: Opportunities arising from the new UK Hybrid Capital Instruments Regime

White & Case LLP on

This article is produced by our London Tax team, which is part of our global Tax practice. Our series, "Understanding Tax", explores commercially relevant and recent changes to the UK's tax code. Opportunities arising from...more

Bracewell LLP

Proposed Rules Addressing LIBOR Phase-out Help Ease Reissuance Concerns

Bracewell LLP on

Since the 2017 announcement that the London interbank offered rate (“LIBOR”) may be phased out after the end of 2021, the municipal finance industry has been concerned that changes to debt obligations and related financial...more

Bradley Arant Boult Cummings LLP

Alabama Legislature Passes Landmark Financial Institution Excise Tax Reform Bill and Forms Corporate Tax Reform Study Group - SALT...

On Tuesday night, May 28, Gov. Kay Ivey signed into law House Bill 419, the Alabama Financial Institution Excise Tax Reform Act of 2019 (FIETRA), which resulted from a collaborative effort between the banking community,...more

Fenwick & West LLP

The New Foreign Tax Credit Proposed Regulations – An Executive Summary

Fenwick & West LLP on

Released on November 30, 2018, the foreign tax credit proposed regulations provide a comprehensive new framework for calculating the foreign tax credit in light of several changes made by the Tax Cuts and Jobs Act (TCJA or...more

Butler Snow LLP

The Corporate Tax Rate Reduction and Reissuance Concerns

Butler Snow LLP on

We have already blogged about many of the direct impacts that the Tax Cuts & Jobs Act has had on the municipal bond market, such as the elimination of advance refundings for governmental bonds and the elimination of qualified...more

Miles & Stockbridge P.C.

Specific Issues for Consideration by Banks, Financial Advisors and 501(c)(3) Organizations arising from the Proposed Tax Cuts and...

Some of the potential impacts of the proposed Tax Cuts and Jobs Act (the “Act”), as currently drafted and described in our prior alert are summarized below for consideration. Draw-down bonds with an outstanding amount to...more

Holland & Knight LLP

House Tax Reform Bill Contains Provisions Adversely Impacting Public Finance

Holland & Knight LLP on

• The Tax Cuts and Jobs Act introduced in the U.S. House of Representatives on Nov. 2, 2017 – now in markup by the House Ways and Means Committee – has a number of provisions that would likely have a negative impact on the...more

Orrick, Herrington & Sutcliffe LLP

France Welcomes Foreign and Alternative Capital Providers with Latest Reform of Finance Sector

Long a cornerstone of the French banking system, the "French banking monopoly" largely prevents non-bank entities from lending money to French borrowers. Although French funds have been used as vehicles by alternative capital...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

The new administration is working on a tax plan that would slash corporate tax rates to 15 percent and doing so with a hastiness that could jeopardize House Republicans’ ability to make the cuts permanent....more

Cadwalader, Wickersham & Taft LLP

UK Budget 2016 – Key Tax Measures

The Chancellor of the Exchequer delivered the UK Budget for 2016 on 16 March 2016. The Budget was delivered against the backdrop of international tax developments, relating to the Organisation for Economic Co-operation and...more

Akin Gump Strauss Hauer & Feld LLP

UK Summer Budget 2015

On Wednesday, 8 July 2015, George Osborne delivered the UK Summer Budget. The first Budget of the new Conservative government (and the second Budget of 2015), the Summer Budget is wide-ranging in scope and potentially...more

Morgan Lewis

Tax Measures in the UK 2015 Summer Budget

Morgan Lewis on

The new tax announcements are designed to improve productivity and correct imbalances in the tax system. On 8 July, UK Chancellor of the Exchequer George Osborne made a number of announcements relating to the tax system...more

K&L Gates LLP

UAE Expected to Issue Draft Law on Corporate Tax and VAT

K&L Gates LLP on

Although the United Arab Emirates (“UAE”) currently has Emirate level tax legislation in place, taxation has, to date, generally only applied to the oil and banking sectors. The last decade has seen the member states of the...more

Sheppard Mullin Richter & Hampton LLP

[Event] Breakfast With Your Finance & Bankruptcy Lawyers: The Risks and Rewards of Financings in Europe - May 13, New York, NY

This breakfast session is jointly presented by Sheppard Mullin and Bird & Bird LLP, and will look at the key issues to consider when structuring financings involving European counterparties and examine whether there are real...more

Eversheds Sutherland (US) LLP

Legal Alert: Has New York City Added a Fourth Element for Determining a Combined Group?

A New York Tax Appeals Tribunal Administrative Law Judge (ALJ) recently determined that a federal savings and loan association was not required to include a subsidiary, which was formed as a Connecticut passive investment...more

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