Paul Schmidt Comments on End of Efforts to Disclose 1982 Debt-Equity Rule Documents

News / April 6, 2017

Partner Paul Schmidt is quoted in an article published April 6, 2017, in Bloomberg BNA’s “Daily Tax Report.” The article, “Baker McKenzie Ends Hunt for Debt-Equity Rule Documents,” reports on an agreement between Baker McKenzie and the Treasury Department that ends case in which the law firm was seeking information on 1982 debt-equity rules. The rules, which were later abandoned, were issued to prevent multinational corporations from stripping income out of the United States. Attorneys told Bloomberg that Baker McKenzie probably was seeking grounds on which to invalidate 2016 earnings-stripping rules.

“There could be all kinds of statements from Congress as to what the 1980s rules were trying to accomplish,” Schmidt told Bloomberg. “Those kinds of documents could be very important.”

Read the article (registration required).

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