The Foreign Investment in Real Property Tax Act of 1980, as amended (FIRPTA), imposes tax on gain realized on disposition by nonresident alien individuals or foreign corporations (non-U.S. persons) of a U.S. real property interests (USRPI) by treating such gain as effectively connected with the conduct of a U.S. trade or business by such non-U.S.
Pallav Raghuvanshi
Pallav Raghuvanshi focuses his practice on U.S. and international tax matters, with a particular emphasis on mergers and acquisitions, private investment funds, corporate restructurings, and emerging technologies such as blockchain. He regularly advises public and private companies on the tax aspects of complex cross-border M&A transactions, including taxable and tax-free acquisitions, spin-offs, and reorganizations. His work includes structuring strategies involving foreign tax credits, tax treaties, holding companies, and controlled foreign corporations.
Just Before the New Jewish Year: U.S. FATCA Information Exchange Goes into Effect in Israel at the End of September
Come the end of September 2016, the Israeli Tax Authority will start forwarding data collected on U.S. citizens and green card holders with financial accounts in Israel to the U.S. Internal Revenue Service (IRS).
This transferring of information is part of FATCA (the U.S. Foreign Account Tax Compliance Act of 2010), based on an agreement…