Our very own David Early recently wrote an article for MNE Tax, discussing important tax consequences resulting from reforms to LIBOR and other inter-bank offer rates.
‘So first and foremost, if you have any loan agreements that reference LIBOR, or Euribor or other ibor, you need to update the agreement urgently (if you haven’t already). It is then a matter of how it is updated (ie is it just an amendment, or a rescission and new agreement) that will determine the tax consequences.’ – David Early
Click here to check out the article.