US Proposes to Eliminate Tax Exemptions for Sovereign Wealth Fund Investments
PANews, January 16 – According to the Financial Times, the US Internal Revenue Service (IRS) has proposed an amendment to Section 892 of the tax code, planning to redefine certain direct investment activities by sovereign wealth funds (SWFs) and public pension funds as "commercial activities," thereby subjecting them to taxation. The new regulation may cover forms such as direct lending, debt restructuring, and co-investment, and could affect previously completed investment projects. The proposal is considered likely to force SWFs to shift toward more passive investment strategies. The comment period will end on February 13.
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