Canada: British Columbia’s Liquefied Natural Gas Income Tax Act: Certainty For Industry … At A Cost

British Columbia (BC) is developing a liquefied natural gas (LNG) industry. A key step in furthering the progress of LNG projects is the introduction of an LNG tax regime.

On October 21, 2014, Bill 6 was introduced in the 2014 session of the BC legislature. The Bill introduces the Liquefied Natural Gas Income Tax Act (the “LNG Tax Act”).

The public release of the highly anticipated LNG Tax Act comes at a pivotal time for BC’s […]

By |October 28th, 2014|

Australia: Return of the employee share option scheme – Government delivers

Introduction
The Government has moved to reverse certain tax changes made in 2009 that effectively put a stop to the use of employee share option plans in Australia. This is good news for foreign companies that have already entered, or are looking to enter, the Australian market and we expect that for those companies, option plans will make a strong return once the proposed changes take effect.
Government announcement
The Government has announced the following changes to […]

By |October 28th, 2014|

India: Boost For Private Debt Players: No Interest Disallowance On Borrowed Funds Used For Equity Investments Till Receipt Of Dividends

Tribunal upholds that interest expenditure is not to be disallowed as per Section 14A in case of leveraged investments unless dividend income is actually received from the investment;
Private debt structures and leveraged acquisition structures may avoid tax hit if dividends are not declared;
However, uncertainty caused by contradictory decisions reveals urgent need to relook at the applicability of disallowance in such structures.

In a decision which further incentivizes structured leverage transactions, the Bangalore bench of Income […]

By |October 27th, 2014|