Illiquid and untraded derivatives should escape mark-to-market valuations being considered for taxing derivatives, Jonathan Zelnik, principal in the financial institutions and products group of KPMG LLP’s Washington National Tax practice said in a Feb. 20 webinar.
He also pointed to several other potential carve-outs for a draft proposal for changing the tax treatment of certain financial instruments, circulated Jan. 24 by House Ways and Means Committee Chairman Dave Camp (R-Mich.) The goal is to provide for uniform treatment of derivatives, but Zelnik said concerns arise from the draft’s “overly broad” definition of the instruments, (
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.