The recent challenges posed by the debt and equity capital markets have reduced access to capital thereby driving a trend to (over)equitize acquisitions, seek sources of capital from across jurisdictions within the corporate group and refinance existing debt on less favourable terms.  These challenges appear to have been exacerbated by a potential effective increase to the cost of capital through measures such as interest barrier rules, some jurisdictions’ denial of MNEs to efficiently access and move capital from one jurisdiction to another and via increased scrutiny over intragroup financing structures.  This panel will discuss some of the key trends and practical issues posed in financing in this new era of taxation in challenging economic times.