LexisNexis

Committee publications

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The international tax aspects of 'de-SPACing'

A report on a conference session at the 11th Annual IBA Finance and Capital Markets Tax Virtual Conference 2022 on special purpose acquisition companies, specifically the ‘de-SPACing’ process, in which a private company is acquired, in respect of international tax.

Released on May 12, 2022

Tax litigation

This panel, at the 11th Annual IBA Finance and Capital Markets Tax Virtual Conference 2022, examined recent tax cases in the courts of various jurisdictions. The cases discussed covered a wide range of topics that impact cross-border finance and capital markets, including discussions on alleged treaty abuse, attorney–client privilege, financing transactions and beneficial ownership.

Released on May 12, 2022

Transfer pricing: anticipating and responding to new challenges

Released on May 5, 2022

Resolving distortions of the inverted duty structure: disconnect between the legal and economic perspectives

This article discusses the anomalies of the inverted duty structure in the Indian goods and services tax system against the backdrop of prevalent global methods for resolving such an issue, and recent Indian judicial and legislative developments in this regard.

Released on May 5, 2022

Funds (Session report from the 11th Annual IBA Finance and Capital Markets Tax Virtual Conference 2022)

A report on a panel at the from the 11th Annual IBA Finance and Capital Markets Tax Virtual Conference 2022. The panel discussed current tax issues and recent developments in fund structuring and new trends in investment strategies.

Released on May 5, 2022

The Principality of Andorra as a privileged player in the new paradigm of human capital mobility

The trend of an increased number of employees working remotely has led to new competition between states to attract these individuals, either through residence/citizenship via investment visas or privileged tax regimes that usually set flat tax rates and do not tax foreign income. Andorra is an important player in this area because it offers a unique environment to live in, with moderate taxation and without any special rules that could be challenged in the future. This article explains the main features to consider when moving to Andorra.

Released on May 5, 2022

The response of the Ukrainian banking sector to the Ukraine-Russia conflict

This article outlines the Ukrainian banking system’s response following the Russian invasion of Ukraine, which began in February 2022, including in respect of how it has supported Ukrainian businesses.

Released on May 4, 2022

Sharing the Secrets: Reporting on “The Secrets of Women Rainmakers – How to Become One and How to Create a Culture that Develops Them.”

On April 19, the IBA’s Law Firm Management Committee, with the support of the Women Lawyers’ Committee, produced the webinar, “The Secrets of Women Rainmakers – How to Become One and How to Create a Culture that Develops Them.”

Released on May 3, 2022

Exhaustion of rights and liability for joint tort – the hazards of e-commerce platforms

With the pandemic hitting hard, online shopping has become the new normal. The pandemic accelerated the shift towards a more digital world and fuelled e-commerce growth, not just on a business-to-consumer basis but on a consumer-to-consumer basis as goods and services become more ‘fluid’ and transactions become less territorial. This article considers the hazards of using e-commerce platforms for various transactions.

Released on Apr 29, 2022

Data compliance: challenges to foreign companies doing business in and relating to China

The Chinese data protection legislations, although they transplant many ideas contained in the GDPR, form a different regime for data protection. This article observes China’s key data protection laws and the challenges these pose to foreign companies doing business in China.

Released on Apr 29, 2022

Comments on Brazil’s new foreign exchange law

Brazil’s new Foreign Exchange Law comes into effect during 2022. It will promote broad changes in Brazil’s capital market and represents a milestone for the nation’s business environment, as it should facilitate operations in the financial and economic market and increase the circulation of BRL (Brazilian Reais) in the foreign exchange market.

Released on Apr 28, 2022

ESG and sustainability-linked loans in Spain: a market trend becoming a standard

The Spanish lending market is increasingly incorporating sustainability-linked criteria. While the wording of ESG provisions has not yet been standardised, their inclusion is becoming a market standard. However, there is still progress to be made, especially with respect to setting the applicable key performance indicators to be met.

Released on Apr 28, 2022

The new Portuguese Banking Activity Code: a revolution in the making?

Important changes are expected this year in Portugal with the anticipated approval of the Banking Activity Code, which shall replace the ‘old’ general regime of credit institutions and financial companies and several other legal instruments and shall consolidate in a single legal instrument the banking activity framework and bring Portuguese banking legislation up to speed with the most recent EU developments.

Released on Apr 28, 2022

Overview of recent efforts to further develop the Kuwaiti banking and capital markets regulatory frameworks

This article provides an overview of the key Kuwaiti regulatory reforms that have taken place between 2018 and 2022 that aim at modernising the Kuwaiti banking and capital markets sectors.

Released on Apr 28, 2022

The new Brazilian foreign exchange and foreign capital law

Law No 14,286, published in December 2021, revamps, streamlines, and consolidates existing legislation on the Brazilian foreign exchange market, Brazilian capital abroad and foreign capital in Brazil.

Released on Apr 28, 2022

Argentine Fintech industry: what is the current regulatory landscape and what can be expected in the near future?

In Argentina there is no centralised regulation that governs the entire Fintech ecosystem but, instead, there are several separate regulations regarding certain Fintech activities and/or players. This article provides an overview of the Argentine Fintech legal ecosystem and the main regulatory challenges for 2022.

Released on Apr 28, 2022

North American Regional Forum – April 2022 – From the Chair

This is an introduction from the NARF’s Chair to the spring newsletter. It details upcoming programmes hosted by the NARF at the IBA 2022 Annual Conference.

Released on Apr 26, 2022

Comparative Corner: a discussion of pretrial discovery methods in Mexico, Canada and the United States

This article documents an informal discussion between three NARF members regarding the availability and scope of pretrial discovery in Mexico, Canada and the United States.

Released on Apr 26, 2022

Whistleblowers: yet another reform in the pipeline

The objective of the deputies backing bill No 4398, approved by the Senate on 16 February 2022, was ‘to strengthen the protection of whistleblowers’. The authors of this article fear that it will give rise to difficulties of interpretation by labour or criminal courts, which would have the jurisdiction to rule on the merits of a whistleblower’s warning.

Released on Apr 25, 2022

Mind your client: law firms must choose to be responsible gatekeepers

Putin’s invasion of Ukraine has prompted international legal service providers to shut down operations in Russia, marking a palpable shift in the sector. If law firms do not re-examine their ethical standards and the moral standing of their clients, regulators may do it for them.

Released on Apr 25, 2022

Changes in the US DoJ’s corporate enforcement policy: implications for Indian companies

This article analyses possible implications of changes to the US Department of Justice’s enforcement policy for Indian companies.

Released on Apr 25, 2022

French anti-corruption compliance monitoring: differences from US corporate monitorships and implications for multijurisdictional settlements

In December 2016, France adopted a wide-ranging new legal framework to tackle domestic and international corruption, the so-called Sapin II. This article compares the law to the US and international compliance landscape of independent compliance monitorships.

Released on Apr 25, 2022

The impact of base erosion and profit shifting on international finance

This conference panel discussed the impact of base erosion and profit shifting on international finance, focusing specifically on interest deduction rules and withholding tax rates, which have become crucial in light of rising interest rates

Released on Apr 22, 2022

British Virgin Islands: economic substance requirements

This article considers the economic substance regime introduced in the British Virgin Islands in 2019 following the requirements of the Organisation for Economic Co-operation and Development's Forum on Harmful Tax Practices and the European Union's Code of Conduct Group for business taxation.

Released on Apr 22, 2022

The death of holding companies

The panel at this conference session discussed the death of holding companies. Rhe speakers discussed what has been driving the attack on the use of holding companies, and then focused on the following three areas: (1) the Denmark cases; (2) the Anti-Tax Avoidance Directive 3 (ATAD 3); and (3) Pillar 2.

Released on Apr 22, 2022

Italy’s temporary protection for those fleeing from Ukraine

Ukrainian nationals’ emergency status has been accelerated by the extraordinary circumstances that took place over the last few weeks. More than 2 million refugees have fled Ukraine; as the humanitarian crisis seems to spread at the speed of light, many countries have released some regulatory provisions offering temporary protection.

Released on Apr 22, 2022

Immigration law and policy for people affected by the invasion of Ukraine in the Netherlands

The Netherlands has responded warmly to the influx of Ukrainian nationals due to the Russian invasion of Ukraine. Refugees are not only welcomed in people’s homes, but millions of euros have been collected to help Ukrainians in the Netherlands and abroad.

Released on Apr 22, 2022

Australia’s response to the Ukraine refugee crisis

In response to the Russian invasion of Ukraine, Australia promptly implemented a call to action, in preparation and anticipation of the influx of Ukrainian nationals who have sought and will seek protection in Australia.

Released on Apr 22, 2022

Poland’s answer to Ukrainians fleeing the Russian invasion

Since the invasion of the Ukrainian territory in February 2022, Poland has been supportive of and united with the people of Ukraine. The Polish authorities have introduced a number of improvements in regards the legalisation of stay and work permits.

Released on Apr 22, 2022

Canada’s immigration response to the Ukrainian migrant crisis

The Russian invasion of Ukraine has resulted in millions of people fleeing Ukraine. The Canadian government has reacted to this with a series of measures aimed at assisting migrants to find safety in Canada. This approach is focused on getting migrants to Canada as quickly as possible, and is very much in line with the IBA’s Immigration & Nationality Committee’s advocated Emergency Evacuation visa model.

Released on Apr 22, 2022