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Inflation Reduction Act
UAE Economic Substance Regulations – Self Assessment Notifications
Co-authored by Brian Conn (Partner, BDO) and Verona Hoh (Associate Director, BDO) On 30 April 2019, the UAE Cabinet, in response to the European Union’s review of the UAE’s tax framework and the UAE’s commitment to the Organisation for Economic...
Regulation BI Challenged in Second Circuit
As we reported in a previous alert , the SEC and FINRA recently confirmed that Regulation Best Interest (“Regulation BI”) will go into effect on the scheduled compliance date of June 30, 2020, despite the impact of the COVID-19 outbreak...
Treasury Releases Long-Awaited Proposed Regulations under Section 45Q
On May 28, 2020, the Department of the Treasury issued proposed regulations (the Proposed Regulations) under Section 45Q of the Internal Revenue Code of 1986, as amended (Section 45Q), which provides a credit for the capture and sequestration of carbon...
Major Changes Coming To PPP With Paycheck Protection Flexibility Act
The Paycheck Protection Program Flexibility Act (PPFA), passed by both houses as of June 3, makes significant changes to the Paycheck Protection Program affecting both new and existing loans, including reducing the amount of loan proceeds that must be spent...
IRS Provides COVID-19 Relief for Taxpayers Seeking PTCs and ITCs
On May 27, 2020, the IRS released Notice 2020-41 (the Notice) providing relief to taxpayers seeking the production tax credit (PTC) or the investment tax credit (ITC) and encountering industry-wide construction and supply delays caused by COVID-19. Since the earliest...
Nigerian Marginal Fields: New Bid Round and New Guidelines
Nigeria’s Department of Petroleum Resources (“ DPR ”) announced on 1 June 2020 the launch of a new marginal field bid round. Fifty-seven marginal fields have been made available, being a mix of onshore, swamp and shallow-offshore fields. The DPR...
CARES Act Update: IRS Issues Guidance for Amending Partnership Tax Returns
On April 8, 2020, the IRS released Revenue Procedure 2020-23 (the Revenue Procedure), which provides guidance for partnerships subject to the centralized partnership audit regime under the Bipartisan Budget Act of 2015 (the BBA Audit Rules) to claim retroactive benefits...
Pandemic-Related OSHA Complaints: Return to Workplaces Only Escalates the Risks
Employees coping with health-related anxieties as workplaces reopen are commonly turning to OSHA for help. Resulting legal risks for employers can take several forms. This webinar will succinctly explain those OSHA-related legal concerns and how to avoid potential claims and...
New Rules Issued Clarifying PPP Loan Forgiveness, Lender Responsibilities and SBA Review
On May 22, the SBA and Treasury released two additional interim final rules (IFRs) on PPP loan forgiveness, providing specific guidance to borrowers and lenders regarding their responsibilities, as well as information on the SBA’s process for reviewing loans for...
Keeping Your Plant Safe From COVID-19
If you’re a plant owner, you should be concerned about the health and safety not only of your employers but of your contractors’ workers. Bob Nichols, a partner in Bracewell’s labor and employment team, discusses why you need to be...
FERC Proposes To Limit Availability Of Tariff Waivers
At its May 21, 2020 meeting, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued an order soliciting comments on a proposed policy statement respecting the waiver of tariff requirements. [1] As discussed further below, the proposed policy statement represents...
Green Loans and Sustainability Linked Loans: New Guidance to the Green Loan Principles and Sustainability Linked Loan Principles jointly issued by the LMA, the LSTA and the APLMA
The present and future impact of climate change, human rights violations, corruption, environmental, labour and regulatory violations and poor corporate governance on the quality of investments and the associated credit risks has spurred widespread recognition by the finance community of...
SEC Adopts Amendments to Improve Financial Disclosures related to Acquisitions and Dispositions of Businesses, Update “Significant Subsidiary” Test
On May 21, 2020, the Securities and Exchange Commission adopted amendments to the rules that govern the financial disclosures registrants must make upon the acquisition or disposition of certain businesses. The Commission also amended the definition of “significant subsidiary” in...
LNG lockdown lessons: what next for the LNG industry post-COVID?
Despite the current challenges of the COVID-19 pandemic and low LNG prices, the future is bright for LNG. Bracewell considers the impact of the COVID-19 pandemic, the lessons for the LNG sector and how the LNG SPAs of the future...
Guide to Federal Reserve Main Street Loan Facilities and Primary Market Corporate Credit Facility
The Federal Reserve has created a number of programs to provide loans and other credit facilities to support the economy in response to COVID-19. Several of these programs provide for new extensions of credit for small, medium and large businesses...