United States: Renewable Energy Tax Break

The Joint Committee on Taxation estimates that the Master Limited Partnership Parity Act (S. 795) (80 DTR G-3, 4/25/13), introduced by Sen. Chris Coons (D-Del.), which would extend to renewable energy sources a tax break currently reserved for the fossil fuel industry, would cost $1.3 billion over 10 years; see the full BNA Tax Report. The bill, co-sponsored by Sens. Jerry Moran (R-Kan.), Debbie Stabenow (D-Mich.) and Lisa Murkowski (R-Alaska), would give the renewable energy […]

By |November 26th, 2013|

United States: Recaps From Proskauer’s 18th Annual Trick Or Treat Tax Exempt Seminar

Proskauer’s 18th Annual Trick or Treat Seminar was held on Thursday, October 31.

The Seminar discussed:

Statutory Authority of New York Attorney General’s Charities Bureau
Proposed Revisions to New York’s’ Not-for-Profit Corporation Law
Impact of United States v. Windsor on Health Insurance and Retirement Plans and Key Provisions of the Affordable Care Act

In her introductory remarks, Amanda Nussbaum provided a summary of recent Internal Revenue Service developments and introduced the presenters.

Here are some take-away points from each presentation:

Statutory Authority of New York Attorney […]

By |November 26th, 2013|

Brazil: Provisional Measure No. 627/2013: Repeal Of Transition Tax Regime (“RTT”)

On 11/13/2013, Provisional Measure No. 627/2013, enacted by the Brazilian Federal Revenue, which repeals the Transition Tax Regime (“RTT”) was republished in the Official Gazette.

This measure establishes the tax treatment to be imposed on the new Brazilian accounting rules, introduced by Laws 11,638/2007 and 11,941/2008, whose main goal was to integrate the BRGAAP with the international accounting rules (IFRS).

Long-awaited by taxpayers, the measure brings modifications to the ascertainment of Corporate Income Taxes (IRPJ and […]

By |November 25th, 2013|