Mexican First Circuit Court holds losses from cross-border equity derivatives are not deductible for income tax purposes

December 31, 2010

The First Circuit Court, affi rming the Tax Court, has held that losses from
cross-border equity derivative transactions are not deductible for income
tax purposes because the taxpayer failed to withhold.

The First Circuit Court, affirming the Tax Court, has held that losses from cross-border equity derivative transactions are not deductible for income tax purposes because the taxpayer failed to withhold.

Further details are available from the Ernst & Young International Tax Alert which can be accessed using the link below:

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