WASHINGTON, Dec. 15 -- Internal Revenue Service has issued a rule called: Income of Foreign Governments and of International Organizations.
The rule was published in the Federal Register on Dec. 15 by Frank J. Bisignano, Chief Executive Officer.
Summary: This document contains final regulations relating to the taxation of the income of foreign governments from investments in the United States. In particular, these final regulations provide guidance for determining when a foreign government is engaged in commercial activity and when an entity is a controlled commercial entity. The final regulations will affect foreign governments that derive income from sources within the United States.
For more information, contact Jack Zhou at 202/317-6...