Taxes Content

ICI, together with members and outside advisors, met recently with representatives from the Treasury Department and the Internal Revenue Service (IRS) to discuss certain provisions of the Inflation Reduction Act of 2022. Specifically, ICI has requested an exemption from the excise tax...

ICI Global submitted the attached letter to the Indian Government for consideration as they develop the 2023 Union Budget. The letter describes tax issues and proposes recommendations to address the global regulated fund industry's outstanding tax issues.

The Department of Labor (DOL) and the Treasury Department and Internal Revenue Service (IRS) recently issued their updated Fall 2022 Semi-Annual Regulatory Agendas (Agendas), which include projected dates for issuance of proposed and final regulations. As described in more detail...

On December 29, 2022, the President signed the Consolidated Appropriations Act, 2023 (H.R. 2617), which includes the SECURE 2.0 Act of 2022 ("SECURE 2.0 Act" or the "Act"). The US Senate approved the year-end spending package by a 68-29 vote on December 22, 2022 and the US House of...

On December 23, ICI filed a comment letter with the Securities and Exchange Commission on its proposed rules ("Proposal") that would mandate the clearing and settlement of certain secondary market transactions in US Treasury securities in which one of the counterparties is a direct...

EU Member States reached an agreement to implement the OECD Pillar Two proposal through the adoption of the EU Minimum Tax Directive. The Directive was adopted as part of a package along with aid to Ukraine and the disbursement of EU funding to Hungary.

ICI submitted the attached letter asking the Treasury Department and the Internal Revenue Service (IRS) to provide regulatory relief exempting certain registered investment funds from the tax provisions enacted by the Inflation Reduction Act of 2022 (the "Act"). Specifically, the new...

The IRS and Treasury Department have released their 2022–2023 Priority Guidance Plan listing their priorities for tax regulations and other administrative guidance through June 2023.