The future of the Border Adjustment Tax (BAT) proposal, a critical element of the House Republican tax reform plan, is in doubt after signs of Republican opposition in the Senate emerged last week. Senator David Perdue (R-GA) became the most prominent Republican to overtly criticize the BAT, expressed in a Dear Colleague letter to his
Today, the U.S. House of Representatives Ways & Means Committee approved H.R. 5879, a bill to extend the production tax credit for new nuclear power plants.
The U.S. House of Representatives is considering legislation, H.R. 5879, to extend the production tax credit for new nuclear power plants by removing any deadline on awarding the 6,000 MW of nuclear capacity available under the tax credit.
After the UK Brexit referendum of 23 June the implications on the political, economic and legal relations between the UK and the EU have been discussed from many angles. But what about one of the main pillars for the successful integration of the European Single Market: State aid law? Does the end of EU membership
The tax and spending bill signed into law by President Obama last week included a two year suspension of the medical device excise tax. After years of effort by industry to abolish the tax, proponents of the suspension speculate that it may represent a window to full repeal. Read More: Congress Suspends Medical Device Tax for Two
The tax reform effort in the U.S. Congress has accelerated this month, with Senate Finance Committee Chairman Max Baucus and Ranking Member Orrin Hatch together issuing a Dear Colleague letter to fellow Senators, asking for their help in crafting a tax reform bill. The letter announced the committee leaders’ intention to mark-up a tax reform
The Internal Revenue Service has issued highly anticipated guidance in the form of Notice 2013-29, providing guidelines and a safe harbor to determine when the owner of a renewable electricity generation facility (wind, biomass, or other renewable generation sources) is considered to have “begun construction” on any such facility by the end of 2013, making
In the December 7, 2012 Federal Register, the IRS issued the final regulations under the medical device excise tax, accompanied by interim guidance that deals with a number of time-sensitive issues including the determination of the taxable sales price and relief from the penalties associated with deposit with the IRS of the correct tax amount.
On June 5, 2012, the EU Court of Justice ruled that tax measures may avoid the qualification of State aid if the State acts as a private investor, i.e. if the State’s decision is based on economic evaluations comparable to those which, in the circumstances, a rational private investor in a situation as close as
U.S. businesses and foreign multinationals with U.S. tax obligations should be on alert that the elements of a major U.S. tax reform legislative package are already in development within the U.S. Congress, the Obama Administration, and in interest groups and think tanks in Washington. The make-up of this tax reform package – to be debated