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Editorial: Qualifying for Treaty Benefits Under the “Derivative Benefits” Article

Foreign persons are subject to U.S. federal income tax on a limited basis. Unlike U.S. persons who are subject to U.S. federal income tax on their worldwide income, foreign persons generally are subject to U.S. taxation on...more

9/8/2014 - Derivatives FATCA FDAP Income Taxes Tax Treaty

The Real Tax Benefits of Inverting to Canada

On August 26, Burger King announced that it entered into an agreement to acquire Tim Hortons, Inc., the Canadian coffee-and-doughnut chain, in a transaction that will be structured as an “inversion” (i.e., Burger King will...more

9/2/2014 - Burger King Canada Controlled Foreign Corporations Inversion Inverted Domestic Corporations Subsidiaries

How Windstream Ruling Will Affect Foreign Taxpayers

In general, a REIT is a special purpose entity for U.S. federal income tax purposes that requires at least 75 percent of the value of the entity’s gross assets to consist of real estate assets, cash, cash items, and...more

8/25/2014 - Corporate Tax Rates Corporate Taxes Foreign Jurisdictions Income Taxes International Tax Issues Mortgage REITS Popular REIT

IC-DISC Benefits Enhanced with Foreign Shareholders

Since the reduction in the individual tax rate on qualified dividends in 2004, the Interest Charge Domestic Sales Corporation (“IC-DISC”) has become an attractive vehicle to obtain a tax incentive for exporting U.S.-produced...more

8/18/2014 - Dividends Exports IC-DISC Income Taxes Shareholder Litigation Shareholders Tax Incentives

Local Law Shopping Through “Derivative Benefits”

Unlike U.S. persons who are subject to U.S. federal income tax on their worldwide income, foreign persons generally are subject to U.S. taxation on two categories of income: (i) certain types of passive U.S.-source income...more

8/11/2014 - FDAP Income Taxes International Tax Issues

Inbound U.S. Tax Planning With Inversions

With all of the recent negative publicity focused on the outbound restructuring of U.S. multinationals engaging in so-called “inversion” transactions (see prior blog “Corporate Inversions Showing No Signs of Slowing Down”),...more

8/4/2014 - International Tax Issues Inversion Parent Corporation Tax Planning

Editorial: Corporate Inversions No Signs Of Slowing Down

In a corporate inversion, a U.S. corporation — typically the parent of an affiliated group — becomes a wholly owned subsidiary of a foreign corporation through a merger into the foreign corporation's U.S. subsidiary or...more

7/24/2014 - Foreign Corporations Inversion Mergers Subsidiaries

Synthetic Investment in U.S. Real Estate by Foreign Investors

According to recent reports, foreign investment in commercial U.S. real estate exceeded $38.7 billion in 2013 - a 40 percent increase over 2012. Leading the way in 2013 were investors from Canada, China, Australia, Germany,...more

7/18/2014 - Australia Canada China Foreign Investment Popular Real Estate Investments

Affirmative Use of U.S. Partnerships in Inbound Tax Planning

A “U.S. shareholder” of a controlled foreign corporation (CFC) is required to include in its gross income its pro rata share of a CFC’s “subpart F” income, regardless of whether such income is distributed. In general, a CFC...more

6/30/2014 - CFC Foreign Corporations Partnerships Shareholders Tax Planning Year-End Planning

Corporate Inversions Showing No Signs of Slowing Down

In a corporate inversion, a U.S. corporation (typically the parent of an affiliated group) becomes a wholly owned subsidiary of a foreign corporation (through a merger into the foreign corporation’s U.S. subsidiary) or...more

6/19/2014 - Corporate Taxes Foreign Corporations Inversion Subsidiaries Tax Reform Transfer of Assets

Retroactive Tax Planning

Converting Subpart F Income into Qualified Dividends - U.S. shareholders of foreign corporations are generally not subject to tax on the earnings of such corporations until the earnings are repatriated to the...more

6/13/2014 - Controlled Foreign Corporations Corporate Conversions Dividends Foreign Corporations Foreign Investment Jurisdiction Repatriation Shareholders Subpart F Tax Planning Tax Treaty

Statutory Exemption from U.S. Withholding Tax on Dividends Remains

Generally, a non-U.S. taxpayer that is not engaged in a U.S. trade or business is taxable in the United States only on U.S.-source “fixed determinable, annual or periodical” income (FDAP)....more

6/6/2014 - Corporate Taxes Dividends FDAP Foreign Corporations Foreign Subsidiaries IRS Repatriation Shareholders Tax Treaty

Tax Planning for the Privatization of the Space Industry

The privatization of the space industry has seen dramatic growth in recent years, and it appears that more significant developments are on the horizon....more

5/29/2014 - Aerospace Blue Origin CFC Foreign Tax Income Taxes NASA Passive Activity Privatization SpaceX Tax Credits Tax Planning Tax Rates Virgin Galactic

Determining Foreigners Insolvency Exception

Can a foreign person exclude foreign-situs assets in determining insolvency exception to cancellation of indebtedness income? With the worldwide global default rate on corporate debt continuing to rise, a taxpayer’s...more

5/22/2014 - Consumer Bankruptcy Debt Foreign Nationals Insolvency IRS

The High-Tax Exception And Malta’s Refund System

A Match Made in Heaven - U.S. shareholders of foreign corporations are generally not subject to U.S. federal income tax on the earnings of such corporations until those earnings are repatriated to the shareholders in...more

5/15/2014 - Controlled Foreign Corporations Foreign Corporations Income Taxes International Tax Issues Shareholders Subpart F

Foreign Investment In The U.S. Through Romania Just Became More Interesting

All “modern” income tax treaties concluded by the United States contain a “Limitation on Benefits” (LOB) provision. The purpose of such a provision is to prevent “treaty shopping.” Romania is one of the few remaining...more

5/14/2014 - Corporate Taxes FDAP FIRPTA Foreign Corporations Foreign Investment Income Tax Treaty

Q&A With Bilzin Sumberg's Jeffrey Rubinger

Jeffrey L. Rubinger is a partner in Bilzin Sumberg Baena Price & Axelrod's Miami office. He practices in the area of domestic and international taxation. Originally Published on Law360 - January 31, 2014. ...more

2/3/2014 - International Tax Issues Tax Deferral Tax Evasion

Prop. Regs. Apply ‘Delta’ Approach For Dividend-Equivalent Payments To Foreign Persons

Section 871(m) was enacted in 2010 to curb the perceived abuse of foreign persons using derivatives — primarily notional principal contracts (NPCs) or swaps — to replicate the ownership of an underlying U.S. equity without...more

1/29/2014 - Dividends Foreign Nationals Income Taxes Swap Dealers Swaps Tax Evasion

Editorial: How US Cos. Can Reduce Latin American Tax Obligations

Many South Florida-based companies conduct business operations throughout Latin America. Typically, these operations are conducted through wholly-owned foreign subsidiaries. Originally Published in Law360 - October 29,...more

10/30/2013 - Corporate Taxes Foreign Subsidiaries Tax Deferral Tax Liability

Tax Planning For U.S. Companies With Latin American Operations

Pass-through structures - Many South Florida-based companies conduct business operations throughout Latin America. Typically, these operations are conducted though wholly-owned foreign subsidiaries....more

10/23/2013 - Corporate Taxes Foreign Subsidiaries Income Taxes Tax Planning

Proposed Regulations On Imported Built-In Losses Include Some Controversial Aspects

Proposed Regulations (REG-161948-05, 9/6/13) dealing with the importation of built-in loss properties under Sections 334(b)(1)(B) and Section 362(e)(1) are designed "to prevent erosion of the corporate tax base through the...more

10/22/2013 - Controlled Foreign Corporations Foreign Corporations Income Taxes Sales

Proposed FIRPTA Changes Would Attract More Foreign Investment In U.S. Real Estate

Non-U.S. taxpayers are generally exempt from U.S. federal income tax on gain from the sale of U.S.-situs capital assets. The one major exception is U.S. real estate. Under the Foreign Investment in U.S. Real Property Tax...more

9/10/2013 - Exemptions FIRPTA Foreign Investment Foreign Nationals Income Taxes Real Estate Market

Editorial: Expatriating From U.S. To Puerto Rico May Make Sense For Some

The United States is one of only two countries in the world that taxes its citizens and residents on their worldwide income. Therefore, a U.S. taxpayer who earns only foreign-source income will be subject to U.S. federal...more

5/13/2013 - Capital Gains Expatriates High Net-Worth Income Taxes Tax Exemptions

Expatriation Lite: Leaving The U.S. Tax System While Retaining Your Citizenship

As many Miami residents who earn income abroad may be aware, the United States is one of only two countries in the world that taxes its citizens and residents (collectively, “U.S. taxpayers”) on their worldwide income. ...more

4/16/2013 - Capital Gains Dividends Expatriates Foreign Earned Income Income Taxes Residency Status Tax Exemptions

Foreign Taxpayers Can Benefit Despite Proposed Regulations

Proposed regulations on swap payments sound like bad news for foreign taxpayers who have used them to avoid paying U.S. withholding taxes. But there are ways to structure a swap and still take advantage of the favorable tax...more

12/18/2012 - Cross-Border Transactions Equity Swaps Foreign Taxpayers Swap Payments

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