FASB’s Invitation to Comment – Agenda Consultation
SIFMA provided comments to the Financial Accounting Standards Board (FASB) on its Invitation to Comment - Agenda Consultation (the “ITC”).
Summary
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.