Recently Issued Regulations to Certain Substitute Payments
Published on:
October 21, 1997
The Committee on the Federal Taxation of the Securities Industry of The Securities Industry Association (SIA)* provides comments to the U.S. Department of Treasury and the Internal Revenue Service (IRS) requesting a delay in the effective date for the application of recently issued regulations to certain substitute payments made pursuant to securities lending transactions, specifically, to the payments made by foreign persons to other foreign persons, as opposed to the payments made by U.S. persons to foreign persons.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.