WASHINGTON, Oct. 21 -- Internal Revenue Service has issued a proposed rule called: Domestically Controlled Qualified Investment Entities.
The proposed rule was published in the Federal Register on Oct. 21 by Jarod J. Koopman, Acting Chief Tax Compliance Officer.
Summary: This document contains proposed regulations that would modify existing regulations on the determination of whether a qualified investment entity is domestically controlled by removing a rule that looks to the shareholders of certain domestic corporations in determining whether foreign persons hold directly or indirectly stock in a qualified investment entity. The proposed regulations would primarily affect foreign persons that own stock in a qualified investment entity th...