Thomson Reuters has added content to its Checkpoint Catalyst tax and accounting research service on passive foreign investment companies and sales and use tax exemptions for manufacturers.

The foreign investment research instructs tax practitioners and financial advisors on factors to weigh in deciding whether a foreign company could be considered a passive foreign investment company, or PFIC, along with the tax treatment of shares in the PFIC under various rules. Readers can learn about ways to identify PFICs during a transaction along with strategies for complying with the rules. It explains various PFIC tax regimes, and the pros and cons of each. The content includes guidance and tools for disclosing to investors about PFICs.

The new content on sales and use tax exemptions for manufacturers discusses the different exemptions for machinery and equipment, ingredients and component parts, along with materials that are either consumed or destroyed during the production process. The research explains the documentation requirements for sales and use tax exemptions, and provides examples for tax practitioners who advise manufacturers and producers.

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