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Daily Tax Report: International

Treasury Seeks Ideas on Rules for Taxing Cloud Transactions (1)

Sept. 19, 2019, 7:59 PMUpdated: Sept. 20, 2019, 4:04 PM

The Treasury Department is asking for comments on how cloud computing taxation rules should be written so that they apply to the fast-changing internet streaming industry.

“There are already areas in the regulations where existing practices don’t fit in,” Wade Sutton, senior counsel in Treasury’s Office of International Tax Counsel, said at a Washington event Sept. 19.

Comments for proposed rules under (REG-130700-14) under tax code Section 861 are due Nov. 12.

The August proposed rules substantially modify regulations Section 861-18, which were introduced in 1998 and updated in July, and introduce 861-19, which guides companies in determining...

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