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On 6 May 2022, the OECD released a public consultation document with respect to the Regulated Financial Services Exclusion for Amount A. This latest consultation document follows four other publications on aspects of Amount A since February relating to nexus and revenue sourcing, tax base determinations, scope, and the extractives exclusion. As with earlier draft model rules, this publication is a work-in-progress and subject to changes. The OECD welcomes comments from the public before 20 May 2022, following which a more detailed commentary on a number of technical items is expected to be released.

The ongoing shift in the Global Energy landscape has been accelerated by the firm commitment of many governments around the globe to decarbonise and achieve net zero, as well as, most recently, very significant geo-political developments. A number of new energy strategies have been launched by governments around the globe (most notably, in the EU, UK and USA) as well as new regulatory frameworks put into place to enable these strategies.

Following the government’s announcement of the creation of a new Future System Operator to oversee the UK’s energy system including emerging technologies and the arrival of the UK Energy Security Strategy, on 8 April 2022, the UK government published a package of proposals in support of UK hydrogen policy, including in particular a policy paper titled “Hydrogen Investor Roadmap: leading the way to net zero”. The paper reiterates the government’s pledge made in the Strategy to double its 5GW low-carbon hydrogen target to 10GW by 2030, with the intention that at least half of this production will come from electrolytic hydrogen. The paper aligns with the approach laid out in the Strategy to utilise excess offshore wind power to drive down hydrogen production costs

Covid-19

On 17 February 2022, the we launched our Central Asia in Focus webinar series, discussing trends, challenges and opportunities in the region. In our five-episode webinar series, we will be discussing a wide range topics with experts from Banking & Finance, corporate, regulatory and other practices.
Episode 1: Update on recent developments in Kazakhstan: Aviation
Episode 2: Data protection and Covid-19: Trends, insights and comparison with the GDPR

Antitrust / Competition

For all current and potential investors in a country, understanding the legislation, the system, the guarantees and other nuances of local regulations is important, especially as the legal framework is constantly evolving. This is why Estudio Echecopar, member firm of Baker & McKenzie International, has put together Doing Business in Peru 2022, a handbook that offers find useful and current information related to the legal framework that every investor must take into account to operate in the country.

Anti-Corruption

The federal election is slated for 21 May 2022 and it is important to be aware of your obligations when it comes to political donations to ensure you are compliant with any disclosure requirements under the Commonwealth Electoral Act 19189 (Cth) (“Electoral Act”).
Not only do offences under the Electoral Act carry fines but non-compliance with political donations laws can lead to significant reputational risk in an area that frequently makes headlines.
This federal election is also the first since reforms in December 2021 tightened the laws relating to political donations in relation to foreign donors.

United States

Sanctions

The unprecedented level of sanctions imposed on Russia from jurisdictions around the world, as well as Russian counter-sanctions, has required multinational businesses in Russia to act swiftly in ensuring they remain compliant and, in many cases, has led to the cessation of Russian operations altogether.
We invite you to join a further webinar on 7 June hosted by our Russia experts in Moscow, and moderated by the chair of our International Commercial & Trade Practice Group, who will provide an overview of key considerations and best practices based on our experience advising clients

Data Privacy