21 January 2013
In this week's Tax highlights we feature:
- Final regulations for the Foreign Account Tax Compliance Act (FATCA): The United States Treasury and Internal Revenue Service have issued comprehensive regulations implementing the FATCA
- Visy Industries Decision Impact Statement (DIS): The ATO has released a DIS on the Full Federal Court’s decision in the Visy Industries USA Pty Ltd case where it was held that the payment of an indemnity fee by the taxpayer as part of an internal hedge to protect it against its potential loss under a forward exchange contract was deductible. Deloitte Lawyers was the instructing solicitor for the taxpayer.
Plus we provide our synopsis of the latest legislative developments, cases, announcements, and ATO information and releases.