Tax equity financing transactions have become an increasingly popular way to provide a higher rate of return for outside investors and to help developers monetize an otherwise cost prohibitive project. In a recent Tax Court decision, Olsen v. Commissioner, T.C. Memo. 2021-41 (6 April 2021), the taxpayers invested in such a venture, but the result was a complete disallowance of all tax benefits because the investment was simply too good to be true and (according to the Department of Justice) a tax shelter. For individual taxpayers in particular, this case is an effective lesson on how not to structure investments in energy equipment transactions.
On May 18, 2021, the Office of the United States Trade Representative (USTR) published in the Federal Register a notice that the Parties to the United States-Mexico-Canada Agreement (USMCA) intend to hold the first meeting of the Environment Committee (Committee) virtually, on June 17, 2021.
Supreme Decree No. 006-2021-TR, which approves the collective bargaining Regulation and minimum working conditions of the Agrarian Labor Regime Law, was published on 30 March 2021. This standard sets out provisions related to the promotion of collective bargaining in the agricultural sector and the minimum working conditions that companies must implement.
The Ministry of the Environment, IBAMA and ICMBIO have edited Joint Normative Instruction (INC) MMA/IBAMA/ICMBio No. 2/2021, published in the Federal Official Gazette on Thursday, 29 April. The new INC updated certain procedures established by Joint INC No. 1/2021, which was published at the beginning of April, particularly those related to inspection reports.
On 5 May 2021, the federal government announced its intention to make amendments to the National Greenhouse and Energy Reporting Regulations 2008 (the NGER Regulations) and National Greenhouse and Energy Reporting (Measurement) Determination 2008 (the Measurement Determination). The NGER Regulations outline the requirements for reporting entities under the NGER scheme and the Measurement Determination provides methods for estimating GHG emissions and the production and consumption of energy.
On 21 April 2021, the European Commission published the final Delegated Act (DA) under the EU taxonomy as part of the wider EU sustainable finance package. The key goal of the package is to provide tools for investors to identify sustainable investment opportunities and to direct finance towards the European Green Deal.
Anahita Thoms, Head of International Trade, Germany, speaks with Omid Nouripour, Member of the German Bundestag and Spokesperson for Foreign Affairs for the Green Party, about the global fight against climate change, economic sanctions as a foreign policy tool, and the proposed new Supply Chain Act in Germany.
On May 12, 2021,the US Trade Representative (USTR) announced that the United States has asked Mexico to review whether workers at a General Motors (GM) facility are being denied the right of free association and collective bargaining. The request is the first time any country has used the novel Rapid Response Labor Mechanism in the United States-Mexico-Canada Agreement (USMCA). USTR and the Department of Labor received information appearing to indicate serious violations of these workers’ rights in Silao, State of Guanajuato in connection with a recent worker vote, organized by the existing union, to approve their collective bargaining agreement.
Our Asia Pacific Employment & Compensation Team is pleased to provide you with our first quarterly update for 2021 highlighting key employment law changes across the Asia Pacific region. Please feel free to visit our Building a New Workforce Reality and FutureWorks sites designed to guide global employers on how to future-proof your workforce and to stay competitive in innovating and revolutionizing your working practices.
Continuing our series of video chats on the Future of Disputes in Asia Pacific, we take a look at C&I trends and developments across the region. Mini vandePol, head of the Firm’s Asia Pacific Compliance & Investigations Group, and Georgie Farrant, head of Australia’s Dispute Resolution team, talk about global C&I trends that impact clients operating in Asia Pacific such as ESG, economic sanctions, anti-bribery/corruption developments and compliance programs.