Proposed regulations: Guidance regarding elections relating to foreign currency gains and losses

Type
:
Obligation
Tax Area
:
Corporate Income Tax
Status
:
Guidance
Qualification
:
Various
Implemented date
:
NA
Country
:
United States
Date added
1 Aug
,
2024
Docxster’s Summary

The proposed regulations provide guidance on the election to use a mark-to-market method of accounting for foreign currency gains and losses. The regulations also provide guidance on the treatment of foreign currency gains and losses under the business purpose and economic substance tests. The regulations also provide guidance on the treatment of foreign currency gains and losses under the business purpose and economic substance tests.

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Corem ipsum dolor sit amet, consectetur adipiscing elit. Nunc vulputate libero et velit interdum, ac aliquet odio mattis. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Curabitur tempus urna at turpis condimentum lobortis. Ut commodo efficitur neque. Ut diam quam, semper iaculis condimentum ac, vestibulum eu nisl.Corem ipsum dolor sit amet, consectetur adipiscing elit. Nunc vulputate libero et velit interdum, ac aliquet odio mattis. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Curabitur tempus urna at turpis condimentum lobortis. Ut commodo efficitur neque. Ut diam quam, semper iaculis condimentum ac.

Source :
KPMG
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