Tax Committee Content

The Treasury Department released proposed regulations on the stock buyback excise tax on April 9th. The proposed regulations confirm that repurchases by a RIC or REIT of its own shares are exempt from tax. The ICI's prior recommendation to extend this exemption to 40-Act funds that...

ICI recently submitted the comments in response to the Internal Revenue Service's (IRS) strategic operating plan and their stated commitment to enable taxpayers to resolve potential compliance issues up front.

ICI crafted and coordinated a submission on behalf of global fund industry associations urging the Indian Government to enact legislation that would permit all foreign regulated funds to undergo tax neutral reorganizations with respect to Indian securities.

On April 10th the ICI submitted the attached comment letter to the Washington Office of the Code Reviser, recommending revisions to an example in the proposed regulations for the Washington Capital Gain Excise Tax.

Attached for member review is a draft letter to be signed by global fund industry associations urging the Indian Government to enact legislation that would permit all foreign regulated funds to undergo tax neutral reorganizations with respect to Indian securities.

ICI Global coordinated the nine national, regional, and global industry associations that made a submission to the Australian Treasury addressing concerns with an updated draft proposal to require large multinational enterprises (MNEs) to publicly report selected tax items on either a...

The attached memorandum summarizes the tax implications for a stable-NAV money market fund that uses RDM in a negative yield environment. RDM allows a fund to prevent NAV declines attributable to negative yields by instead reducing daily the number of shares outstanding, thereby...

ICI today submitted a Statement for the record to the US House Committee on Education and the Workforce Subcommittee on Health, Employment, Labor, and Pensions, in connection with its February 15, 2024 hearing on Protecting American Savers and Retirees from DOL's Regulatory Overreach.