Among the unintended consequences of the 2017 US Tax Reform, the repeal of the Internal Revenue Code Section 958(b)(4) unintentionally results in the creation of a very large number of new controlled foreign corporations (new CFCs) which are imposed expanded Form 1099 reporting and backup withholding tax requirements. These requirements are very difficult to implement operationally for the reasons that the EBF has explained in a letter it sent to the US Treasury on 19 February 2019. In this letter, the EBF also emphasizes that new CFCs might be facing a potential loss of the portfolio interest exemption, which could disrupt common intercompany financing transactions. The EBF calls for an urgent solution.
Am Freitag feiern wir 50-Jahr-Jubiläum. Event wird gemeinsam mit @EBFeu durchgeführt. Unter Motto "In Generationen denken, nachhaltig handeln" stellen renommierte internationale Referenten ihre Vision vom Banking der Zukunft vor. #LBC19 https://t.co/dPkedYD4t4 @Mr_LeoJ @Wim_Mijs
[#DFS19] Get to hear from Alexandre Affre, during the society track panel: The evolving role of #banking and #insurance in the real economy ! Join us on 27/11 at the @DigFinSummit
Register now >> https://t.co/WOlmPHQCzj
The EBF is the voice of the European banking sector, bringing together national banking associations from 45 countries. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.
56 Avenue des Arts
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.