close
Share with your friends

Proposed regulations on cloud-computing, digital-content transactions; public hearing scheduled

Cloud-computing, digital-content transactions

The U.S. Treasury Department and IRS today released for publication in the Federal Register a notice of public hearing on proposed regulations regarding the classification of cloud transactions for purposes of the U.S. tax law’s international provisions.

1000

Related content

The proposed regulations were issued in August 2019 to modify and expand the scope of the rules contained in Reg. section 1.861-18 for classifying transactions involving computer programs, and to address the classification of cloud transactions. Read TaxNewsFlash

Today’s notice [PDF 263 KB] announces that the public hearing is set for Tuesday, February 11, 2020. The IRS must receive outlines of topics to be discussed at the public hearing by Friday, January 31, 2020, and if no outlines are received, the public hearing will be cancelled.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal