jueves, 25 de octubre de 2012

US Tax Court releases PepsiCo opinion, upholding taxpayers’ equity characterization of hybrid instruments

The Tax Court recently released another taxpayer-favorable memorandum opinion in the debt/equity area. The court, inPepsiCo, upheld the taxpayers' treatment of advance agreements as equity and not as debt for US federal income tax purposes.
Although this decision is a memorandum opinion that does not serve as binding precedent, the decision provides important insight into the Tax Court’s current approach to handling ongoing IRS challenges to cross-border intercompany financing arrangements.
Source and more info: pwc

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