SIA Submits Comments to the US Department of the Treasury on a Proposal to Eliminate the Double Taxation of Corporate Earnings
Published on:
March 11, 2003
The Securities Industry Association (SIA)* provides comments to the U.S. Department of the Treasury on a proposal to eliminate the double taxation of corporate earnings. SIA notes that the implementation of the proposalwould require substantial modifications to the dividend processing, monthly statement, record keeping, and information reporting systems. SIA urges that there be a transition phase incorporated into any implementation language. Also, the proposal should incorporate certain technical and procedural requirements in order to ensure that information flows smoothly and accurately to shareholders.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.