United Nations Climate Change
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Kenya appears to have decided to waive withholding taxes on payments to foreign companies that enter into power contracts to supply electricity.
The Kenyan Treasury published the following announcement in the official Gazette on August 19: “in order to attract more investments in the energy sector for the purpose of lowering the cost of energy, as may be provided under any Power Purchase Agreement... the payment that shall be made to a non-resident for services rendered under a Power Purchase Agreement shall be exempt from tax.” The scope of the exemption is not yet clear.
by Keith Martin, in Washington
IMO 2020 is almost upon us. Readers are well aware of the impending switch to 0.5 percent fuel mandated by Annex VI of MARPOL which will cause an anticipated drop in HSFO demand, the potential hazards of new untested LSFO blends, the concerns around scrubber operations, the debate over open loop versus closed loop, and the myriad of other risks associated with the impending regulatory change.