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Wednesday, September 26, 2018

ALERT US TAX REGULATIONS ! INTERTANKO PARTICIPATES IN CARRIER COALITION AND NEEDS MEMBERSHIP INPUT/PARTICIPATION

We have previously reported on new proposed IRS regulations for Section 883 Exemption and we have further developments to report.

INTERTANKO is participating in a broad-based carrier coalition formed to address the proposed changes in the so-called Section 883 Exemption.

The coalition has already been effective in securing a postponement of the hearings as the hearing date for the proposed section 883 regulations has been changed from April 27 to June 8. The deadline for written comments, requests to speak, and outlines of topics to be discussed has been extended from April 5th to May 19th. The hearing will now take place on June 8 at 10:00 a.m. in Room 4718 of the Internal Revenue Building in Washington D.C.

We ask that members study the papers from U.S. law firm Seward & Kissel in which the proposed regulations are set out and assess whether this would have an impact on their operations.

Please mailto:LegalandDocumentary@intertanko.com with comments and/or questions. As INTERTANKO plans to take an active role in the carrier coalition input on possible negative effects of these revisions would be appreciated. Link to www.intertanko for the papers from Seward & Kissel.