EY reports that the US Treasury is reviewing whether the UK’s diverted profits tax (DPT), which came into force on 1 April 2015, is a creditable tax for US foreign tax credit purposes. According to EY, a Treasury official was quoted as saying the DPT is ‘causing us to … rethink pieces of the [foreign tax credit] regulations’.
EY reports that the US Treasury is reviewing whether the UK’s diverted profits tax (DPT), which came into force on 1 April 2015, is a creditable tax for US foreign tax credit purposes. According to EY, a Treasury official was quoted as saying the DPT is ‘causing us to … rethink pieces of the [foreign tax credit] regulations’.
