The Reform will extend tenors and reduce borrowers’ fees to encourage commercial bank lending into energy transition projects.

By Tom Bartlett, JP Sweny, Alexander Buckeridge-Hocking, and Samuel Burleton

The Organisation for Economic Co-operation and Development (OECD) has agreed a landmark deal to modernise the Arrangement on Officially Supported Export Credits (the OECD Arrangement), which is a welcome update for commercial banks, borrowers, and export credit agencies (ECAs) alike.

After several years of negotiation, the participants (Australia, Canada, the European Union, Japan, Korea, New Zealand, Norway, Switzerland, Turkey, the United Kingdom, and the United States) reached an agreement on 31 March 2023, to provide incentives and more favourable terms for financing energy transition projects.

In this article, we summarise the main changes to the OECD Arrangement and how they will benefit project financings and the wider energy transition.

Following the publication of the Finance Bill 2020 the UK government is pressing ahead with the introduction of the Digital Services Tax from 1 April 2020.

By Sean Finn, Karl Mah, Aaron Bradley, and Amy F. Watkins

From 1 April 2020 the UK government is introducing a new tax in the form of the Digital Services Tax (DST). The DST is the UK’s unilateral attempt to correct the misalignment between the place where businesses’ profits are taxed and the place where those businesses create value.

Following on from the base erosion and profit shifting (BEPS) project, the Organisation for Economic Co-operation and Development (the OECD) has been exploring potential new taxing rights to seek to correct such misalignment. The UK government has said that it will converge its approach with the long term international solution once agreement has been reached on the basis that it believes in international co-operation regarding the future of tax on large international businesses. The UK government plans to review the progress made in international discussions in 2025.

Following the publication of the Finance Bill 2020 the UK government is pressing ahead with the introduction of the Digital Services Tax from 1 April 2020.

By Sean Finn, Karl Mah, Aaron Bradley, and Amy F. Watkins

From 1 April 2020 the UK government is introducing a new tax in the form of the Digital Services Tax (DST). The DST is the UK’s unilateral attempt to correct the misalignment between the place where businesses’ profits are taxed and the place where those businesses create value.

Following on from the base erosion and profit shifting (BEPS) project, the Organisation for Economic Co-operation and Development (the OECD) has been exploring potential new taxing rights to seek to correct such misalignment. The UK government has said that it will converge its approach with the long term international solution once agreement has been reached on the basis that it believes in international co-operation regarding the future of tax on large international businesses. The UK government plans to review the progress made in international discussions in 2025.