In a bid to add clarity to the issues surrounding withholding tax in structured finance transactions, Standard & Poor’s has published a legal criteria article which describes the ‘comforts’ the rating agency expects to receive when making a transaction. ‘There is a heightened risk of withholding tax when cash flows across a jurisdictional border,’ said Julie Lynch Bridson, Standard & Poor’s assistant general counsel. ‘In these instances, the tax authorities in the jurisdiction from which the cash left may require part of that amount to be remitted to it in the form of withholding tax.’ Bridson explained that the risk of withholding tax is particularly acute in the European securitization market, where cash is passed from payers in one country to an SPE issuer in another country.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.