PFICs Gone Wild!
University of Florida - Fredric G. Levin College of Law
March 1, 2013
This article discusses the U.S. tax rules for passive foreign investment companies, or PFICs. The historical development leading up to the enactment of the PFIC rules in 1986 is examined. Unexpected tax consequences resulting from the PFIC rules are analyzed in detail. Recommendations to modify the rules so that they do have such onerous consequences follow, concluding that the PFIC rules cannot be sufficiently fixed and should be repealed.
Number of Pages in PDF File: 41
Keywords: passive foreign investment company, PFIC, tax deferral, Subpart F
JEL Classification: K34working papers series
Date posted: September 7, 2013
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo4 in 1.141 seconds