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Inflation Reduction Act
New PPP Rules Governing M&A Transactions
The Small Business Administration issued long-awaited rules governing lender and borrower obligations when there is a change in ownership of an entity that has received a Paycheck Protection Program (“PPP”) loan. The new guidance, issued on October 2, 2020, eliminates...
FY 2021 Sequestration Reduction Rate for Direct Pay Tax Credit Bonds Set at 5.7%
According to the IRS website , the sequester reduction rate applied to payments made to issuers of direct pay tax credit bonds in fiscal year 2021 will be 5.7 percent . This percentage will apply to all subsidy payments scheduled...
DOJ Issues New Merger Remedies Manual, Emphasizes Structural Remedy Preference
On September 3, 2020, the U.S. Department of Justice Antitrust Division released a revised Merger Remedies Manual (“Manual”), providing a modernized framework to structure and implement remedies in merger cases where DOJ determines that the transaction would harm competition. DOJ...
SEC Updates Statistical Disclosure Requirements for Banking Registrants
On September 11, 2020, the Securities and Exchange Commission announced that it has adopted final rules to update and expand the statistical disclosures that bank and savings and loan registrants provide to investors, in its on-going efforts to modernize and...
IRS Provides Guidance on Presidential Payroll Tax Deferral
On August 28, 2020, the IRS issued Notice 2020-65 (the “Notice”) to provide guidance with respect to the Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster , issued by President Trump to the Secretary of...
Antitrust Agencies Issue Final New Guidelines for Vertical Mergers
On June 30, 2020, the Department of Justice and a split Federal Trade Commission released the final version of their new Vertical Merger Guidelines , which outline how the federal antitrust agencies evaluate the competitive impacts of vertical mergers, as...
Webinar: VAT and Customs Duty Increases in Saudi Arabia – Implications for Investment into the Kingdom
Saudi Arabia: VAT Rate and Customs Duty Changes Brian Conn (Partner, BDO) and Mohammed Mahmoud Madbouly (Senior Manager BDO KSA) The old adage that nothing is certain except for death and taxes has, until recently, told only half the story...
UAE Economic Substance Regulations - Awareness Session
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 Cooperation and Development (OECD), anti-Base and Profit Sharing (BEPS) Action Plan, issued...
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...
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...
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...
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...
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...
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...
SBA Releases Long-Awaited PPP Forgiveness Application and Instructions
On May 15, the SBA and Treasury released the long-awaited PPP loan forgiveness application and related guidance , providing much-needed clarity and ending weeks of speculation about how borrowers will obtain loan forgiveness. The application and instructions confirm that if...