Finance & Banking Tax

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

Upper Tribunal Decision in Samarkand and Proteus

The long-awaited Upper Tribunal Decision in the Samarkand and Proteus case has been published. The case relates to statutory sale and leaseback partnerships with partners claiming losses under the film acquisition relief...more

IRS Proposes PFIC Regulations That Could Characterize Many Foreign Insurance Companies as PFICs

A mere 28 years after Congress enacted the tax rules governing passive foreign investment companies (“PFICs”), the Treasury Department and Internal Revenue Service have for the first time issued proposed regulations that...more

Crowdfunding: Update From the CRA

In a short technical interpretation (CRA Document 2015-0579031I7 “Crowdfunding” (April 1, 2015)), the CRA has restated its views on the tax treatment of amounts raised via crowdfunding arrangements. The CRA stated that...more

Marijuana and the Tax Apocalypse

As Californians evaluate the potential for legalization of Marijuana it is important to consider the current state of conflict between state and federal laws and regulations regarding the production, distribution and sale of...more

IRS Plans to Shift Risk of Withholding Agent Fraud to the Taxpayer for Foreign Withholding

Chapter 3 of the Internal Revenue Code requires payors (and recipients) of certain types of U.S. source income to withhold tax if the beneficial owner or recipient is a non-U.S. person for income tax purposes. Chapter 4 also...more

"FIRPTA Reform Opens Door to Increased Foreign Investment in US Real Estate"

This afternoon, Reps. Kevin Brady (R-Texas) and Joseph Crowley (D-N.Y.) re-introduced in the House of Representatives a bill to significantly reform the Foreign Investment in Real Property Tax Act (FIRPTA). Introduced as H.R....more

Washington Court of Appeals: No Transactional Nexus Requirement or Dissociation for Washington B&O Tax

On April 29, 2015, the Washington Court of Appeals issued an important tax decision in Avnet, Inc. v. Washington Department of Revenue, Dkt. No. 45108-5-II. In its most significant holding, the court of appeals effectively...more

Under the Dome: Inside the Maine State House

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Governor Threatens to Hold Land Bonds - In a memo sent this week to lawmakers on the...more

Gavel to Gavel: Follow crowd with care

For some at the age of this author, a CARE package is known and remembered from when it was first offered and popularized after the end of World War II by Cooperative for Assistance and Relief Everywhere Inc. as an emergency...more

For Retirement Plan Providers, It’s All About Making A Connection

If you’ve read an article or two of mine, then you know I’m a big fan of movies. I’ve a big fan of movies as long as I remember and the movies that are my favorites are the ones that make a personal connection to me. The...more

IRS Publishes Proposed Regulations for Hedge Fund Reinsurance Arrangements

In April 24’s Federal Register, the IRS released proposed regulations (REG-108214-15) to restrict when a foreign insurance company’s income can be excluded as passive income by giving a more strict definition for the “active...more

Tax Newsletter - January/February 2015 (China & Hong Kong)

In This Issue: To People’s Republic of China: -Draft Foreign Investment Law -New Developments On Indirect Transfers Of Properties By Foreign Investors -Exposure Draft Of Revised Tax Collection And Administration...more

FATCA Compliance Deadline Reminder – Cayman Islands

Cayman Islands investment entities that have been classified as “Reporting Cayman Islands Financial Institutions” for purposes of FATCA should make every effort to enroll with the Cayman government by the April 30, 2015...more

Investment Funds Update – Asia: Legal and regulatory updates for the funds industry from the key jurisdictions in Asia: Mainland...

Capital gains tax (“CGT”) has been a key issue surrounding the investment by QFIIs and RQFIIs in the Mainland Chinese securities market. Mainland Chinese tax authorities have publicly decided to retrospectively collect CGT...more

Locke Lord QuickStudy: Proposed Regulations Issued On Hedge Fund Reinsurance Transactions

The Internal Revenue Service (IRS) recently issued proposed regulations addressing what constitutes the “active conduct of an insurance business” for purposes of the passive foreign investment company (PFIC) rules (the...more

New York City Legislation Enacts General Corporation Tax Reform

On April 13, 2015, Governor Andrew Cuomo signed New York’s 2015-2016 budget legislation, which, among other changes, conforms the New York City general corporation tax (GCT) to the most significant changes from last year’s...more

Locke Lord QuickStudy: New UK Rules on Disguised Investment Management Fees

On April 6, 2015, the United Kingdom’s taxing authority (HMRC) enacted new rules that are designed to close an investment management fee “loophole” that allowed private equity fund managers to avoid taxes on management fees...more

Speakers Highlight Cleveland’s Rust Belt Resurgence, M&A and Global Growth

Cleveland has taken center stage recently due to its resurgence and growth potential. We asked local experts to join us at our annual Executive Focal Point seminar to discuss the local, national and global landscape and what...more

Department of Labor Proposes New Fiduciary Regulation and Prohibited Transaction Exemption Relief for Investment Advice...

On April 20, 2015, more than three years after withdrawing a similar proposal that was staunchly opposed by the financial services industry, the U.S. Department of Labor (DOL) published in the Federal Register a proposed...more

FCPA Compliance and Ethics Report-Episode 154-Compliance Leadership-Persuasion, Influence, Tools & Tips, Skills and Tips [Video]

In this episode, I discuss some of the tools which a compliance practitioner or CCO can use to further compliance in an organization. ...more

U.S. Companies with Foreign Affiliates Face Looming Reporting Deadline

U.S. companies with material ownership interests in foreign affiliates (including their own subsidiaries) are facing an upcoming May 29, 2015 deadline to file a cumbersome survey with the U.S. Department of Commerce...more

Bad News About Unfiled FBARs, Another Indictment

A recent indictment by the United States Attorney's office in California illustrates the inter-relationship between curency transfer restrictions, (such as those involving Iran), foreign financial account reporting (the FBAR...more

3 Strategies to Getting the Lowest Debt Settlement Possible

Settling debt is the process of negotiating with your creditors a payment less than the total amount owed. Often times people feel that as a person who is struggling to pay your bills that you are negotiating from a weaker...more

Treasury and the IRS Offer a New Take on the PFIC Active Insurance Exception

On April 23, Treasury and the IRS issued proposed regulations interpreting the active insurance exception under the passive foreign investment company (PFIC) rules. Although the release of the proposed regulations did not...more

FBAR Case Rules on Unknown Issues

A recent FBAR decision weighs in on some unknown and uncertain penalty issues relating to failure to file FBARs. These issues include...more

4,075 Results
|
View per page
Page: of 163

Follow Finance & Banking Updates on:

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×