Transaction Tax



December 21, 2012

SIFMA and ICI Submit Comments to the IRS Requesting Competent Authority Assistance under the US-France Tax Convention

SIFMA and the Investment Company Institute (ICI) provide comments to the Internal Revenue Service (IRS) requesting competent authority assistance under the US-France Tax Convention (Convention) and seeking and interpretation of the Convention to determine whether the convention provides an exemption from the French Financial Transaction Tax (FTT) from certain transactions in French stock, or in American Depository Receipts (ADRs) with underlying French stock, executed in the U.S.




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