The Treasury Department and the IRS moved Friday to address concerns that sovereign-wealth funds and other foreign-government investors in the US could be penalized by new regulations on when their US investment income is exempt from US taxation.
Treasury and the IRS proposed new regulations (CC-00349656-26; RIN 1545-BR10) that would “grandfather in” existing investments so that they won’t be subject to aspects of foreign-government income regulations under Section 892 that were proposed in December.
The proposed change is a response to “the concerns of many taxpayers” and aims to “support current and future sovereign wealth fund investment in ...
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