The US Internal Revenue Service (IRS) has announced that it is making revisions to regulations proposed earlier under the FTC (FTC) provisions of the US Internal Revenue Code. The announcement was made in IRS Notice 2007-95, dated 19 November 2007, and concerns two sets of proposed FTC regulations.
The first set of regulations were proposed on 3 August 2006 to amend current Treasury Regulation Section 1.901-2(f) with regard to the person by whom a foreign tax is consider…