In December 2020, European Union released proposed amendments to Article 4 of the EU Securitisation Regulation. The concern for the local securitisation industry was that the proposed amendments would prohibit investment from EU-based entities due to Australia's offshore banking unit (OBU) tax regime.
In this article, KangaNews details the issue and reports on recent developments to address the issue. Key highlights include:
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- How the proposed amendments may impact the Australian securitisation market
- Local and offshore advocacy efforts
- Legislation tabled in the Australian parliament to address the OBU concerns and resolve the issue
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