Bloomberg Unveils Data Service For Compliance With New US Tax Law
871(m) Tax Solution identifies affected instruments and provides data for withholding
Bloomberg has launched its 871(m) Tax Solution, designed to support compliance with a new US Internal Revenue Service withholding requirement that will take effect on January 1.
Section 871(m) of US tax law is designed to curb tax avoidance by foreign investors, and levies a withholding tax on derivatives and structured notes linked to US securities and investments linked to equity indices. Intermediaries such as custodians and issuers will have to act as withholding agents under the new law.
Th
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Regulation
Reporting overhaul: the EU’s near-impossible balancing act
Regulators must weigh their desire to streamline derivatives reporting against the need to gather crucial trade data.
The SIX Digital Assets Regulatory & Tax Service—Simplifying regulatory compliance
SIX‘s Digital Assets Regulatory & Tax Service is designed to simplify regulations and tax directives governing digital assets, making regulatory compliance more straightforward
Ediphy challenges FCA, Sterling launches new OMS, and more
The UK bond tape is halted, LSEG and Databricks partner, Wells Fargo adopts TransFICC’s One API, and more in this week’s news roundup.
Waters Wavelength Ep. 332: DTCC’s Val Wotton
This week, Val Wotton joins the podcast to discuss the necessary steps leading up to the T+1 transitions in the UK and EU.
DORA delay leaves EU banks fighting for their audit rights
The regulation requires firms to expand scrutiny of critical vendors that haven’t yet been identified.
Citi gears up for EU T+1 climb
The bank has a dedicated team examining what it needs to do to ensure a successful transition to T+1 in Europe.
The great disappearing internet—and what it could mean for your LLM
AI-generated content, bots, disinfo, ads, and censorship are killing the internet. As more of life continues to happen online, we might consider whether we’re building castles atop a rotting foundation.
AI’s next gig: The rising cost of off-channel communications compliance
As the cost of analyzing communications increases, what tools can firms deploy to save time and money while avoiding penalties?
