While the world is watching the progress on the OECD’s global tax proposals for taxing digital businesses and introducing a global minimum income tax rate, which were embraced and committed to by most Asian countries, there have been a number of other tax developments over the past three months which you will read about in this bulletin.

Consistent with Mayer Brown’s culture of rotation in its senior leadership positions, the firm has elected longtime partner Jon Van Gorp as chair, effective June 1, 2021.

Welcome to the latest issue of Mayer Brown’s IBOR Transition Digest—a periodic compendium of global regulatory and market developments and insights on the complex issues confronting financial market participants as they plan to transition from LIBOR and its variants to replacement benchmark interest rates.