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finance | banking | taxes

International investment agreements and their implications for tax measures
3-Mar-2021 UNCTAD
Most international investment agreements do not exclude taxation from their scope, which means that a wide range of tax-related measures are covered by them.
Canadian miner First Majestic wants to resolve its tax dispute with the SAT with international arbitration
3-Mar-2021 MRT
Canadian mining company First Majestic Silver Corp submitted a request for arbitration based on NAFTA, due to the tax debt and its differences with the Mexican government.
India to contest Cairn Energy arbitration award, lawsuits in international court
19-Feb-2021 Mint
The move signals the government’s resolve to defend its sovereign rights in taxation. The government has kept open possibility of settling the dispute within existing Indian laws.
Cairn Energy files case in US to push India to pay $1.2 billion award
17-Feb-2021 Mint
Cairn Energy has filed a case in a US district court to enforce a $1.2 billion arbitration award it won in a tax dispute against India, a court document showed, ratcheting up pressure on the government to pay its dues.
Regional trade pact will pave way for digital yuan
10-Feb-2021 China Daily
The RCEP will undoubtedly pave the way for China’s new digital yuan expansion throughout Asia.
Banks agree to end action against Croatia in loan conversion dispute
3-Feb-2021 Reuters
Six banks have agreed not to take legal action against Croatia over its conversion of Swiss franc loans into euros in 2015 at the lenders’ expense.
India may offer Cairn oilfield against $1.4 billion arbitration award
1-Feb-2021 Business Today
For a government struggling to find revenue to boost a COVID-19 battered economy, options of appeal against the arbitration award are limited and it may not have the financial bandwidth for such a payout.
Cairn threatens Indian asset seizures abroad in tax case
27-Jan-2021 The Hindu
UK-based Cairn Energy Plc has threatened that it may be forced to begin attaching Indian assets including bank accounts in different world capitals, unless the government resolves the issue.
Cairn Energy’s major investors ask India to honour arbitration
25-Jan-2021 Live Mint
Investors have written to the Indian government as well as the governments of the US and UK seeking adherence to the award of a tribunal at the Permanent Court of Arbitration in The Hague
Analysis: How rich oil firms are using secretive court to fight capital gains tax in developing world
21-Jan-2021 Finance Uncovered
The battle between ConocoPhillips and Vietnam result could mark a significant shift in the way huge multinationals fight off the threat of taxes from desperate revenue authorities in developing countries.
US attacks Australia’s ’extraordinary’ plan to make Google and Facebook pay for news
19-Jan-2021 The Guardian
The US has said the proposed legislation could run counter to the US-Australia free trade agreement.
UK to start talks with EU on finance cooperation this week
13-Jan-2021 Bloomberg
The UK will begin talks with the European Union this week on how regulators will cooperate over financial services now Brexit has been completed.
UK-EU trade agreement: What’s next for financial services?
6-Jan-2021 Lexology
The EU and the UK committed in the agreement to establishing a Memorandum of Understanding, by March 2021, for establishing a framework for regulatory cooperation on financial services.
Seoul rejects Lone Star’s out-of-court ISD settlement offer
1-Dec-2020 Pulse
The South Korean government has opted for an international arbitration over its longstanding dispute with Lone Star Funds after it turned down the US fund’s final $870-million out-of-court settlement proposal.
South Korean government likely to reject Lone Star’s offer
24-Nov-2020 Business Korea
Lone Star Funds, which is in litigation against the South Korean government at the International Centre for Settlement of Investment Disputes, suggested US$870 million as a concession.
Vodafone arbitration award: Centre to challenge telco’s Rs 22,100 crore tax case win
27-Oct-2020 Business Today
Solicitor General Tushar Mehta has advised the government that the decision of an arbitration tribunal cannot contradict the law passed by a sovereign parliament.
Why India should challenge the Vodafone-India BIT award
26-Oct-2020 Bar and Bench
The scope of consent to arbitration is an important issue that needs to be finally settled - not least because it could have multi-billion dollar implications for India in respect of other cases involving challenges to India’s taxation measures by foreign investors.
Finance not fish: The trade deal with Japan focuses on what matters for the City
23-Oct-2020 City AM
Trade talks with the EU remain uncertain, with negotiations focused on issues like fishing that have little bearing for the City. But in the meantime, Japan has given “global Britain” — and particularly the City — something to celebrate.
Hungary’s OTP sues Croatia for loan conversion damages
20-Oct-2020 Reuters
OTP Bank has sued the Croatian government to recover about $34.60 million it lost during a mandatory conversion of Swiss franc-denominated loans to euro-based loans in 2015.
India to contest Vodafone arbitration judgement: Report
1-Oct-2020 Deccan Herald
The Indian government plans to contest the judgement on the Vodafone arbitration award in Hague.