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New German Fund Taxation Rules
  • K&L Gates
  • Germany
  • August 4 2016

After many years of discussions and various proposals that were later dismissed, the German legislature last month finally passed a law that

Post-issuance tax compliance for tax-exempt bonds
  • McCarter & English LLP
  • USA
  • September 30 2011

During the past few months the Internal Revenue Service ("IRS") has published several items that collectively demonstrate a heightened focus on the actual implementation of post-issuance compliance plans by both governmental issuers and charitable (501(c)(3)) borrowers of tax-exempt bonds.

Effects of proposal to limit exemption of municipal bond interest
  • Williams Mullen
  • USA
  • September 28 2011

President Obama, in his effort to reduce the federal deficit, has proposed in his American Jobs Act to restrict high-income ($200,000 and up) holders of tax-exempt bonds from using that tax exemption to reduce their marginal income tax rates below 28.

EU short selling developments
  • Ropes & Gray LLP
  • European Union
  • October 26 2010

On September 15, 2010, the European Commission published draft legislation for the regulation of short selling of European securities (the Legislation).

Commission publishes short selling proposal
  • Dentons
  • European Union
  • September 17 2010

The Commission has published a draft Regulation on short selling and credit default swaps (CDSs).

United States Supreme Court upholds state tax exemption for municipal bonds in Kentucky v. Davis
  • Baker Donelson Bearman Caldwell & Berkowitz PC
  • USA
  • August 25 2008

In a 7-2 decision, the United States Supreme Court upheld on May 19, 2008 a Kentucky law allowing the state to exempt interest on bonds issued by the state or its political subdivision while taxing the interest earned on bonds from other states.

California contemplating formation of bond insurer
  • Locke Lord LLP
  • USA
  • April 2 2008

Citing the need for additional capacity in the bond insurance market and the desire to move away from the rating system currently used for municipal bonds, California Treasurer Bill Lockyer has proposed using state pension funds to form a state-owned bond insurer.

IRS begins post-issuance compliance initiative for qualified 501(c)(3) Bond issues
  • Bricker & Eckler LLP
  • USA
  • September 4 2007

The Internal Revenue Service (Service) is taking action to ensure compliance with all postissuance requirements relating to the federal tax exemption of interest on Qualified 501(c)(3) Bonds issued on behalf of section 501(c)(3) organizations.

Supreme Court will review decision that state tax law cannot discriminate against municipal bonds of other states
  • Drinker Biddle & Reath LLP
  • USA
  • June 14 2007

On May 21, the U.S. Supreme Court agreed to review a recent Kentucky court decision that held that Kentucky cannot impose income tax on interest earned on bonds issued in other states while exempting interest earned on bonds issued by Kentucky and its municipalities.